Lowyat.NET -> Finance, Business and Investment House -> Credit Cards, Debit Cards, Prepaid Cards and Loyalty CardsCredit Cards Credit Card v19, Post/Ask general questions here, Please read post 1-3 before posting, tq
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 May 5 2016, 02:24 PM
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#1
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Junior Member
265 posts Joined: Sep 2014  
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Hey guys, got a quesion on credit limit. Im planning on applying a home loan. And thinking of reducing my CL from 10k to 5k, so that it would give better chance for the loan approval. My question is, would reducing out CL have any affect on loan application? I got 2 cards (CIMB CB/MB Ikwan) with 10k each, so planning on reducing both.
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May 5 2016, 02:39 PM
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#2
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Junior Member
265 posts Joined: Sep 2014
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QUOTE(laymank @ May 5 2016, 02:30 PM) I am not 100% sure. I checkd with my banker, he went through my finances and in the record i could see my ccs' CLs. I asked him, and he said the bank would take it into account too, but not much. Not much is still something for me heheBut for home loan, the bank owns your property until it is fully transferred to your name. In other words, the approval should be verified against the property value, your income vs commitments rather than how much CL you have, in my humble opinion. Unlike credit card, there is nothing the bank can hold from you if you don't pay.  |
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