Raising the credit card limit is also called ICL or Increase credit Limit or sometimes people say also increase the credit limit or increase the credit ceiling, all the terms are the same aja.
The discussion in this article is the preparatory steps or stages of applying for an increase or raising the credit limit so that it is more likely to be more likely to be approved. So if you're hoping for instant tips, this isn't the right article for you.
Table of Contents
Types of Credit Card Limit Increases
Permanent Limit Increase
A permanent limit increase means that the fixed limit increase will not change again unless there is a sudden decision from the bank.
Permanent Limit Can be filed and usually requires documents such as a must-sign affidavit, fc ktp, fc cc, salary slip or income data. And a permanent limit increase with regular filing will cost you. For the large fees insaned from the Bank.
There is also a permanent limit increase in the Automatic Way. Although automatic, the bank will issue advance notice to seek approval from the cardholder. For automatic limit increases will not be charged.
Automatic limit increase
Conditional permanent automatic limit incre incress. It's a little weird, but the Bank also has this program. The Bank will contact the cardholder and inform you that the limit will be raised provided that the cardholder is obliged to send a pay slip or income data.
Temporary limit increase
Temporary limit requests usually require the right reasons. The temporary limit increase in some banks is only three months which means that after three instead of the limit will return to its original position.
A temporary limit increase also requires paperwork but there are also banks that won't ask for documents, so it depends on the paperwork. For reasons the request is free but must make sense.
Instant limit increase
Instant limit increase is given to cardholders who will execute payment transactions but fail because they run out of limits. And the transactions in question are not all transaki. The bank will approve the request for an instant limit increase if the payment fails in the hospital. Some banks also agree to ticket purchases, tuition payments.
Instant limit increases will also usually be approved for priority customers.
How to Easily Increase Credit Card Limits
Departing from the first regulation that is most important must be known namely bank Indonesia regulations related to the maximum credit limit or large adjustment of credit limit to the customer's income, i.e. the maximum limit that will be given by the bank to the credit card holder which is three times the amount of income per month. With meaning for someone who sends his salary slip of 5 million rupiah, the bank can distribute a maximum limit of 15 million rupiah.
Considerations of bank analysts
- Late payment, if in the last six months there is a late payment then the less likely the demand for credit limit increase to be agreed.
- If in the last 6 months there have been at least two late payments then the application for credit limit increase will most likely be rejected.
- If in the last six months the payment is the minimum payment then the likelihood of approval will be smaller
- If in the last six months there have been at least three full payments then the likelihood of a credit limit increase will be greater to be approved.
- if in the transaction details there are transactions suspected of cash swipe or cash withdrawal in edc machine then most likely the application for credit limit increase will be rejected.
- if the data of BI Checking or one of the good credit cards from the same bank or from another bank there is a collectibility status in exclusive attention, anemia is smooth, doubtful or stalled then the possibility of a request to raise the credit limit will be rejected.
Dynamic of the above considerations, then before running the application to increase the credit limit do the following:
- Submit a pay slip where the income information is greater, e.g. a pay slip that has incentives, or overtime or other incentives.
- Try to make a payment on time, if there is a late payment in the last six months, it is best to wait up to six months zero late payment.
- Try to run a full bill payment at least three times in the last six months.
- We recommend avoiding using credit cards for cash swipes
- If you have a card at another bank that has good Anemia collectibility, the problem should be solved first.
if you have already done the above, then the more likely the request to increase the credit limit will be more likely to be approved.
Documents needed to increase credit card limit or ceiling
Submit clear documents or don't blur. Do not send fake pay slips because it is easy to track or know by analysts. If you send the documents today, try calling the call center tomorrow to make sure the document has been received or not? To increase the credit limit, the cardholder must contact the bank via call center or via branch to submit a Report.
Applying for a credit card limit increase requires paperwork. Among other things: if filing through a branch office then make sure the document has been prepared from home. If you go through a call center, you will be told to send it via email or by fax.
Length of Process or SLA submission to increase credit card limit
SLAs apply for different credit card limits at each bank, but it won't take until a week. Usually only ranges from 2 to 4 business days after the document is received.
How much will the Bank approve the demand for an increase in the credit card limit? Depending on the analyst's results, they will take into account the pay slip or total revenue. Most banks dare to distribute a maximum limit of three times earnings per month.
Suppose if the salary is three million, then the maximum limit is nine million. Another consideration that will greatly affect the approval of limit increases is the payment history. if the payment in one year is the minimum payment or only 10% of the total bill then most likely the request will be rejected. In addition to payment history, Cheating Gestun (cash withdrawal in EDC machine) will also be very influential.
The request for limit increase is likely to be rejected if the Bank finds out or suspects the transaction of gestun on the credit card. So the final tip so that your credit card limit increase request is approved by seeking full payment at least three times in the last six months before applying for a limit increase and avoiding Gestun transactions.