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CREDIT Card Thread v2, Everything about the world of plastic
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fatality
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Feb 11 2008, 12:24 AM
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New Member
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i just got approved for my application for cimb bank credit card and im collecting my card from the bank tomorrow morning. now im wondering how much would my credit card limit be.
since im earning a current salary of 1.8k. btw, could i increase the credit card limit if i find it not so suitable?
sorry to ask such questions, cuz this is the first time i am owning a credit card (cuz i swear never to own a cc but now i find it to be a must have in case of emergencies)
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fatality
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Feb 11 2008, 07:15 AM
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New Member
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QUOTE(myusername @ Feb 11 2008, 01:30 AM) Congratulations, don't let the card control you. The minimum credit line is 3K. However, if you submitted your bank statements with millions of ringgit in savings, then it will probably be higher You may request for an increase in credit limit, but it's up to the bank's discretion. Some supporting documents would help boost your chances, ie payslips if pay increased, additional income (from own business), bank statements, etc. Personally, I feel CIMB limits are low though. ok. so which bank has higher limits? i mean its not that i wanna push it but its good to know for first time users like me. plus, im gonna use it mainly for fuel purchases.
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fatality
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Feb 11 2008, 09:39 AM
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New Member
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QUOTE(hye @ Feb 11 2008, 08:47 AM) myusername could be right as the entry point credit limit starts @ RM3K. Probably the likely credit limit would be RM3-5K for you. Don't worry about the low credit limit as banks are cautious as well and you gotta admit - you just started working and probably do not have a very long credit history for the banks to be comfortable with you. They probably won't entertain you if you ask for a credit limit increase right away and you stand a better chance to ask for this after 1 year. If you are unhappy about your credit limit then probably a better approach would be to apply for another card from another bank but you got to be careful not to get excited spending money that you do not own. I've known many people who got excited after getting their credit card, goes on a spending spree for 3 months (before hitting the credit ceiling) and then in debt for the next 9 months paying the balance. Oh yes ... BTW, you can actually call the CIMB CS to ask for your credit limit. Call in, pretend to check your card application status and when asked "Is there anything else I can help you?" - ask the question. My advise don't waste your time asking for a credit limit increase now as they will ask more supporting documents to back you up. (Salary slips, EA forms, income tax statements, etc) nolar i have been working for quite sometime already. just that i never bothered to apply. ok hye. thanks for your advise. anyway, just collected it just now as the bank is just below my office. the credit card limit is RM4,000.00. Okla. no worries...i will definitely control. if not i will ask my gf to cut it in half for me.
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