Hi guys, currently, I only use a debit card, but am kinda interested to own a credit card for the sole reason of generating some (good) credit history.

I don't suppose if you guys know if this is a good idea (or would there be other ways of establishing a good credit history)?

Was just worried that when the time comes for me to apply for a loan (this is my real main concern), it'd be better to have some credit history than nothing at all.

I currently only maintain several savings accounts and that's it (no credit facilities whatsoever).

This post has been edited by morbo: Dec 28 2011, 12:03 AM

Thanks for the replies zenquix and Gen-X!

Since we're on the topic of timely repayments, and I couldn't really find any advice in the "Ways to pay your credit card bill", I kinda wanted to ask :-

I have a Maybank savings account, and assuming I managed to get a Maybank CC, would it be possible to set some kind of Payment Instruction for my CC bill to be auto-swept from my savings account (essentially turning the CC into sort of a Debit Card). Ideally, I'd like to have this arrangement at no (or very minimal) additional cost to me.

No, hye, I don't want to turn my Credit Card into a Debit Card. I'm aware that with a Credit Card, the bank is in fact extending me a line of credit. Maybe I shouldn't have made that rather confusing Debit Card analogy.

All I wanted to know was whether I can have some kind of Standing Instruction in my savings account to settle my Credit Card bill.

This post has been edited by morbo: Dec 28 2011, 05:17 PM

I appreciate the help/advice, guys. Special thanks to chemistry and cute_boboi!