Have you applied for a CIMB REVI Credit and wondering how to increase your limit? If yes, search no more, as we got you covered. The REVI Credit by CIMB Bank Philippines offers a minimum of P1,000 and a maximum of P250,000 credit limit, which you can apply for on your mobile phone.
However, not all can avail of the maximum Credit Limit CIMB Bank offers, and increasing it may take a while. So, if you want to find out how to increase CIMB REVI Credit Limit, read on.
How to increase CIMB REVI Credit Limit
Like other loans, the REVI Credit Limit depends on the bank’s discretion. Customers cannot demand nor dictate a specific amount for their REVI Credit Limit. Meanwhile, CIMB Bank customers have a higher chance of increasing their REVI Credit Limit by continuously using it and paying their loans on time.
By doing so, the customer has a better probability of increasing their REVI Credit Limit. CIMB Bank will perform necessary credit checks and decide the customer’s final REVI Credit Limit based on their evaluated risk level. If qualified for an increase in REVI Credit Limit, CIMB Bank will notify the said customer.
Then, they have to submit additional requirements, such as Income Document. CIMB Bank will validate the requirements before approving the REVI Credit Limit increase. Therefore, you can increase your CIMB REVI Credit Limit by maintaining a good payment history.
How to apply for CIMB REVI Credit Limit Increase
While increasing your credit limit isn’t guaranteed since the bank decides it, you can follow the steps below to apply for CIMB REVI Credit Limit increase:
Step 1: Gather the requirements.
If you’ve applied for REVI Credit, but your Credit Limit is too low, secure the following requirements below based on your earning status:
For Salaried Earners:
Any of the following documents:
- Latest one (1) month salary slip
- Latest three (3) months’ CIMB Bank statement (CIMB Payroll Account)
- Latest EA Form
- Latest six (6) months EPF statement (not over three (3) months old from the date of documents receipts)
- Latest Form BE/e-Form BE with LHDN receipt or proof of paid tax
Note: Salaried earners not from MNC (Multinational Corporation), GLC (Government-Linked Company), and PLC (Public Limited Company) companies are required to submit their latest 1-month salary slip and recent EPF statement with contribution records or current salary crediting bank statement.
For Full-Time Commission Earners:
- Latest six (6) months of Commission Statement or payslip
- Latest six (6) months bank statement (not over one (1) month old from the date of documents receipts)
For Self-Employed:
- Business Registration Form (Form 24,29)
- Latest six (6) months company bank statement (not over one (1) month old from the date of documents receipts)
Step 2: Apply for CIMB REVI Credit Limit increase.
After securing the requirements, submit your documents to CIMB Bank Philippines. Contact their Consumer Contact Center at +603 6204 7788. The bank agents will guide you through the process, so you can increase your CIMB REVI Credit Limit. If you’re eligible for a REVI Credit Limit increase, CIMB Bank agents will notify you.
Summary
Overall, you can increase CIMB REVI Credit Limit with good payment history and submit your Income Document for approval. Furthermore, you’ll have more chances of getting an approved REVI Credit Limit in the long run when you continuously use it and pay your dues on time.
On the contrary, you can also request to lower your pre-selected CIMB REVI Credit Limit during the application. If you’ve maintained a good payment history for a long time and think you deserve more, follow the steps in this guide to increase your CIMB REVI Credit Limit.