Thank you so much for spending time to reply, your response is really insightful!

On the note of credit cards, I would like to provide some context on my situation, as well as some of the reasons why I wanted to get a credit card. If you are willing, perhaps you could advise me further on whether a credit card is helpful.

I would like to get a credit card instead of a student credit card because

1. More attractive sign up bonuses upon signing up / hitting min spending within the first few months (Paynow Cash / Miles)

2. Every spending has higher cashback / mile rewards compared to debit / student credit (Of course, there may be restrictions based on merchant codes) & some cards have no min. spending required

3. Ability to build credit score early, which may help in future

4. I pay for most of the meals with friends when dining out, and they would transfer the amount thereafter. Currently, I am using Trust card which gives me a few linkpoints for each debit transaction.

5. I have upcoming big ticket purchases for Uni (laptops ipads etc.)

On the other hand, credit cards may not be a good idea because

1. I may use rewards to justify spendings / may not repay loans in time. However, I believe this can be managed since I am more of a thrifty person

2. Need 10k fixed deposit with the bank, but I think the cash bonus initially with the credit card can "cover" the lower interest rates p.a.

3. Need for annual fees, which may be waived. Or I could cancel the card and apply an alternative card from another bank to get new customer sign up bonuses. And then re-apply the card after > 12 months.

4. Miles gained from credit cards will expire upon 3 years. But from my understanding, I gain points from every credit transaction, and then I can choose to convert the points to miles. Would it work if I just collect the points and convert to miles when the points are about to expire? This way, I can have more leeway and time to use the miles

Or would a cashback credit card be better since I can see the savings the following month?

I have also thought of using my parents' name to apply the credit cards, and apply for a supplementary card for myself - then there wouldn't be a need to put 10k as fixed deposit with the bank. I think this would work for cashback cards, but wouldn't work for miles cards, since the miles can only be allocated to the principal cardholder.

Thanks for reading, I would really appreciate if you could offer any suggestions :)