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 RHB personal loan to get credit score

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SUSxander83
post Mar 22 2021, 08:04 AM

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QUOTE(KKS21199 @ Mar 22 2021, 07:33 AM)
Hi,

I am thinking about applying for rhb personal loan, 5k for 12 months to get a credit score. I don't currently have any loans or monthly payments, other than Hotlink Postpaid. I make about 1.8k monthly and got epf and socso.

Will I be able to get a loan from RHB for a year? I don't need it for anything, I just want to get a good credit score to finance a home in the future. I already have a car, so I don't want to get a car loan to get credit score.
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Why bother getting personal loan when you can get credit card instead with lower interest on personal loan

With your earnings no banks will lend to you as you are most likely to be a risk to default on your loans unless you have a guarantor or FD as collateral instead

15% per annum will kill your earnings on personal loan

Learn on how to invest instead and once you grow your investment then your credit score will rise instead doh.gif
SUSxander83
post Mar 22 2021, 08:36 AM

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QUOTE(yklooi @ Mar 22 2021, 08:23 AM)
can apply CC with his income of 1.8K?
hmm.gif
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Using FD as collateral instead with credit limit of 2x of the FD pledged

I been doing that for so many donkey years already
SUSxander83
post Mar 22 2021, 08:49 AM

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QUOTE(KKS21199 @ Mar 22 2021, 08:42 AM)
Which banks have you done it with? I can pledge fd if required by the bank.
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Try HLB, Citibank, OCBC or UOB

But most of them will forced you to take credit card

Just make sure take credit card which is free for life and locked it up in bank safety deposit so that you won’t tempted to spend on it

Credit card will be useful if you manage well because a lot of incentives, promotions and cash back now given to spur the economy in terms of domestic spending
SUSxander83
post Mar 22 2021, 07:06 PM

Blast off like a rocket
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QUOTE(Builder_My @ Mar 22 2021, 08:54 AM)
I have a sudden thought. Can one person who is unemployed or not a business owner pledge FD for a credit card?
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Yes and it depends on the banks itself on whether they are willing to lend you the credits via secured collateral like share pledges, FD or AUM of at least of 200k
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