Singapore Expats

Hello Friends,

I am being offered internal mobility to USA by my organization. Currently I have a Savings account and a Credit card with Quick Cash loan 11k on that card.Currently I am paying SGD 470 as EMI and have never delayed any payment on the card.

When I move out of SG, my EP will go off.

My question is,
1) Will they ask me to pay off 11k before I leave ?
or
2) I can continue paying SGD 470 EMI monthly from USA. (Obviously I will transfer USD every month to my SG account) ?


Has anyone been in similar situation before ?

As long as your accounts are active, you update your address and you don't stop paying fees, you're good.

They wont ask you to pay for 11K but the problem you have will be your bank charges if you transfer SGD470 monthly, which higher bank charges...

I've been using two US credit cards for over 30 years with a local address. No big deal.

Huchuyu wrote:They wont ask you to pay for 11K but the problem you have will be your bank charges if you transfer SGD470 monthly, which higher bank charges...

True, but with the right bank(s) you can minimize that. Besides, what are his options? Hardly a consideration considering the amount he's probably paying just in interest on that debt.

nakatago wrote:As long as your accounts are active, you update your address and you don't stop paying fees, you're good.

The address part is the hard bit. Banks are all fine about using a mailing address until you get a CC with them. Then they're like wolves out on a hunt - change your address to a PO box for instance and within days you'll get a letter to revert to a residential address or they'll cancel all your cards within 'x' days.

Of course keeping accounts active is no problem whatsoever. You might just want to get stuff like ATM or debit cards replaced (call them up and say you lost them or that the cards are damaged) so that they are valid for the maximum number of years before they need to be replaced (and sent to the last address the bank has on file for you - which would be a pain if you no longer could get that mail). With DBS make sure you exchange any old ATM cards to newer ones with a chip or with their free debit card.

Thanks guys for the information !

I will update my situation when I will leave... keep you posted..