Called MBB CS to let them know my son using his card overseas for a substantial transaction. While on the line, I ask what if I wanted increase in Permanent Credit Limit, was told in view of BNM guideline effective 1st January 2012, I need to submit 3 months proof of income - habis I, hahaha

This post has been edited by Gen-X: Apr 5 2012, 11:52 AM

Show them your income tax form then

Yah, I was considering that, 2010 not a problem. 2011 BE Form Big Problem - no salary. If I really want to increase my CL must go fast fast and go apply before end of this month.

If you can prove you have rm1 million net assets, then viola...you need not submit income docs..

Ola ... Amigos....

Long time no see... Any New Cards to Intro nowadays?

How much minimum CL I can get if I can proof above? I know people who has more than RM1M in FD but their PB issued credit card CL less than mine, hahaha.

By the way, to proof got 1 million assets also need to submit document lah to prove the same.

This post has been edited by Gen-X: Apr 6 2012, 01:21 AM

CL what I know of is there will still give based on what you have outside.

On documentation, most probably you will need to give your FD slips, bank account statements etc lor... Maybe shares, property title... haha

Who knows what BNM is thinking when they came up withe policy on High networth customer with Rm1 million and above.

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Btw you can try ask the sales saying what if I don't have any valid income documents. So how and what should I do if I got lots no money in my bank account. See what are their response?

This post has been edited by b00n: Apr 6 2012, 01:06 PM

For CIMB, there will be in lien charges of RM5 per RM1000 Credit Limit pledged. But maybe they treat their Preferred customers differently.

Ya loh, to proof net worth may need to show more documents compared to just a single BE Form, haha.

As for having a lot of money, it is different from me wanting to increase my CL. As I mentioned in my blog, my wife and me were issued Premier cards last year even tho we declared we were unemployed; and one bank even gave me 6 figures CL!!! But that particular card benefits is nothing compared to MBB VI 5X TP. The point is, unlike previously where banks would give me 6 figures CL without any proof of income or increase my CL simply by me requesting for it over the phone, nowadays, the banks need us to submit docs even tho one may be earning more than RM36K.

It is just that I might need a higher CL for my MBB VI since I intend to fly overseas more from this year onwards and another child is going overseas for her education next year.

apply for temporary credit limit increase. than call in to renew before it expire

yah, that's a good point. Any idea what is the max duration?

not sure. I asked for ~1 month and kept it rolling for another 2 months before

If not wrong, BNM also had certain rulings on Temp Line Increase. Just can't recall what it is.

Have u tried to tell them tat u have submitted once & their bank got no feed back?

I done tat on Citibank today. The telegrapher said will pass the case to his manager & wait for approval. I was asking for 100% credit limit increment.

God bless

Why would I do that if it is not true?

Is just another chance to try of.

So did they approve? I doubted so if you do not even submit in the first place. The most they will say is "sorry, can you resubmit" if you insist you did submit and they lost it. Then they will give you some kind of rebates or something.

I just requested. Now pending for approval. Soonest will b on next Friday.

God bless.

Am not a CIMB Preferred customer myself but i believe it is the same with the likes of HSBC Premier, Citibank Citigold, Standard Chartered Priority where one only has to maintain the Premier/Citigold/Priority status.

Not to throw cold water to this statement but a lot of readers who traverse this forum would think this is the right approach to do when asking for a CL increase and (more often than not) believe it'll get a 100% success rate. The worrying part is that a lot of our readers well ... just don't understand what are they asking for or doing.

Appreciate if the enthusiasm can be toned down a little and to keep in mind a lot of people will be copying whatever is written in here for their benefit and/or peril.