[Young Working Adults Guide] Trying to get Your First Charge card: Here Are All The Documents You'll need

Applying for the first charge card is something to be proud of. It represents your entrance in to the workforce, a large step towards being financially independent and also a sign of you taking control of your expenses. Before your

After you've spent the hours pondering and comparing over which credit card(s) to apply for, you will understand that the actual application can hardly be achieved with only a click of the button. Listed here are all of the documents you will need (to be able to ready them all beforehand) to submit your charge card application.

#1 Photo ID

Singaporeans/PR:

1) A photocopy of the NRIC (both front and back).

Foreigners:

1) A duplicate of valid passport

2) A copy of your Employment Pass (EP) – both back and front with minimum 6 months validity

3) A copy of your In-Principal Approval (IPA) if EP has less than 6 months validity

4) Proof of Residence: Utility bill, telephone bill or bank statement reflecting your residential address

#2 Verification of Income

This comes in various forms (you only need to provide one of these options)

Payslip: Latest A few months computerised payslips

CPF Contribution History: Latest 3 months (minimum) CPF Contribution History Statement

Income Tax Notice of Assessment (NOA)and latest computerized payslip (mostly for commission-based employees)

There will likely be non-typical scenarios that lead to you being unable to provide the standard verification of income. What else could you do during these situations? Here are some scenarios:

You just changed your work:

Now that you are employed by another company, your past 3 months' payslips or perhaps your CPF Contribution History from your previous company will not work as proof of income. You will need to give a certified company letter out of your new company.

This company letter will include your:

• Name
• Date
• NRIC
• Designation
• Salary/annual income
• Signature from HR/Management with designation
• Company stamp

You are self-employed:

You will need to provide your last 2 years’ Tax Notice of Assessment (NOA).

You got a campaign:

Congratulations, you simply had a promotion and a pay raise! Now you wish to apply for a new credit card having a higher minimum income requirement (that you simply were not able to satisfy previously), however your payslips and CPF Contribution still reflect your previous salary.

Similar to someone that has just changed their job, you would need to submit your organization letter that clearly states your employment along with your new salary.

Here are the charge cards that you can apply for how to get the promotional cash and benefits.

Ready To Sign-Up For Your Dream Air Miles Charge card?

If you’re applying for any of these air miles cards, you’ll receive exclusive cash and vouchers from SingSaver, on top of any perks provided by individual banks. A few of the cards eligible for the promotion are:

#1 American Express Singapore Airlines KrisFlyer Credit Card

[SingSaver Exclusive]: $150 Cash for brand new and existing customers, 26,600 bonus miles if you spend $3,000 within the first 3 months, and the other $3,000 between 4th month and 6th month.

#2 American Express Singapore Airlines KrisFlyer Ascend Credit Card

[SingSaver Exclusive]: $150 Cash for new and existing customers. 49,900 bonus miles should you spend $6,000 within the first 3 months, and the other $6,000 between 4th month and 6th month, and pay the annual fee of $337.05

#3 Citi PremierMiles Visa Card

[SingSaver Exclusive]: $200 vouchers Cash for new Citi customers. $30 for existing customers. 30,000 bonus miles should you spend $7,500 inside the first 3 months and spend the money for annual fee of $192.60.

#4 UOB PRVI Miles Visa Card

[SingSaver Exclusive]: $50 Cash for brand new and existing customers.

Sign-up by 31 January 2021 to savor these promotional rewards. Terms and conditions apply. SingSaver is an affiliate partner of DollarsAndSense.