Applying for another credit card

[jobadia]

So I’ve started on the journey of building my credit score and got my starter credit card from Maybank about 3 months ago and I’m thinking to apply for a second card (either UOB and/or Public Bank) soon and I have a couple questions that might need you guys’ opinion on:

1) is it true that you’d have to wait 90 days after being issued a credit card to apply for a second one?

2) if I submit 2 credit card applications (from separate banks) at the same time, what are the chances that both credit cards will be approved? I’m just wondering if there’s a grey area where you submit 2 applications and the bank systems would only recognize that I’ve had 1 application submitted, if that makes sense…

3) say if I have a credit card that I’ve been using for 5 years now and I apply for another new card, will it actually cut my credit history to half? I’ve seen on YouTube that this policy applies in other countries and I was wondering if it applies in Malaysia.

Hopefully you guys can help a brother out. Cheers!

 

[liorex]

@jobadia

1. No.
2. No impact. Note that if your income is less than RM 36,000 per annum, your third application will be rejected.
3. No.

 

[jobadia]

@liorex Thank you for the reply!

 

[resjudicata]

@liorex What’s the minimum wage per annum to apply for a credit card

 

[truckeo7m]

@resjudicata Depending on banks. Usual range is 2.5k~3k per month for entry level cards.

 

[resjudicata]

@truckeo7m Based on previous 3 months payslip?

 

[truckeo7m]

@resjudicata Yes. Otherwise for some cases offer letter works too.

 

[resjudicata]

@truckeo7m Tenk u I appreciate it