How to Increase Your Credit Limit and How to Request per Bank in the Philippines

A credit card limit increase increases your spending power which could be beneficial when preparing for the unexpected such as emergency funds. It lowers your credit utilization ratio, with 30% or less being the ideal percentile as the lower you can get, the better it is for your credit score. 

Sean Martin D. Plantado, head of customer service at Digido.ph, notes that a credit score is an important metric that lenders use to determine a borrower’s ability to repay. You can also meet your family’s growing needs without having to worry about your credit card being maxed out.

How To Increase Credit Limit In The Philippines

A credit limit is the maximum amount a lender will allow a client to spend on a credit card or a line of credit. In the Philippines, the two ways to increase your credit card limit includes waiting for the bank to raise your credit limit automatically or applying for a credit limit increase through the bank’s customer service representative.

When you apply, be prepared to submit income documentation to demonstrate that you are capable of covering a higher monthly credit payment.

How To Increase Credit Limit At The Bank Of The Philippine Islands (BPI)

Just call the BPI Express Phone Hotline (889-10000). You have to submit income documents such as payslips or ITR which BPI will use to evaluate if you are creditworthy to get a higher credit card limit.

 Read more: How to Get a BPI Credit Card?

How to Increase Credit Limit at Citibank

Email your complete name, credit card number, and any of these documents to income@citi.com. For employed Citi cardholders, submit your latest one-month payslip,

Certificate of Employment issued within the last 60 days, latest ITR with BIR or bank stamp,

and latest BIR Form 2316 with employer’s signature. For self-employed Citi cardholders, submit your latest ITR and latest audited financial statement (both with BIR or bank stamp) and the phone number of the accountant.

Your application will undergo credit evaluation. Within seven to 10 business days after submitting the requirements, check the status of your request for a credit limit increase by calling CitiPhone at (02) 8995-9999.

 Citibank may either approve, reject, or give a lower credit limit than the requested amount depending on the results of the credit evaluation. If the bank approves the credit limit increase, it will be shared across all Citi credit cards and will appear in your Citibank Online account within 7 to 10 business days from the application date.

 How to Increase Credit Limit at Metrobank

Metrobank accommodates requests for a temporary or permanent credit limit increase through Facebook Messenger. Just visit the official Metrobank Card Facebook page and send a message. Or talk to a live Metrobank customer service representative on how to increase your credit limit. The representative is available from Mondays to Fridays, 9 a.m. to 4 p.m., to assist you with your application.

How to Increase Credit Limit at RCBC

Contact the RCBC Bankard Customer Service hotline at (02) 8888-1888 or send an email to service@rcbcbankard.com for your request for a credit limit increase.

You can also call other banks such as RCBC, Security Bank, HSBC, Maybank, Eastwest Bank, and Philippine National Bank (PNB) to assist you in increasing your credit limit.

 Pointers to Help You Increase Your Chances of Getting a Higher Credit Limit

Make Sure You are Financially Stable or Creditworthy

Your application for a credit limit increase will be thoroughly evaluated by the bank. Your credit score, income, and employment status are considered. If you meet all the eligibility requirements and submit all the necessary documents then you have a good chance of being approved for a higher credit limit. 

Do Not Make an Inquiry Too Soon

Typically, banks review their client’s credit card accounts every 6 to 12 months. Do not request a credit card limit increase if you are a client for only 6 months as this may be construed as being desperate.

Give Appropriate Reasons Why You Deserve an Increase in Your Credit Card Limit

Avoid making an emotional appeal. Instead, give reasonable reasons such as being a long-standing client, always paying in full and on time, never maxing out your credit card, and your income has recently increased.

Don’t Request Too Much

Exercise caution when requesting an increase in credit limit. A 10 to 25 percent raise is reasonable. 

What Happens When Your Credit Card Limit Is Increased?

An increase in your credit limit lowers your utilization ratio. Your ideal credit utilization ratio must be 30% of your credit limit otherwise, your credit card company may suspect you of overspending if you consistently use more than 30% of your credit limit. 

You may start receiving more product offers from different lending institutions because lenders now consider you a low-risk borrower.

Your credit card may be upgraded to accommodate the increased credit limit. This is the best time to negotiate for the best credit card to get more benefits and rewards. You will be able to buy more items which are usually less expensive when purchased in bulk. Moreover, if you are using credit cards for business, you can buy more from merchants and can use the opportunity to negotiate.

This is also your chance to consider closing your other credit cards. This will reduce your spending while also saving you time and effort in tracking the expenses charged to these cards.

Last Thoughts

It is simple to learn how to increase your credit limit, but requesting can be the difficult part. As always, the key to increasing your credit limit is to use your card responsibly and to make on-time payments. Obtaining bank approval will be much easier once you have established a good relationship with your credit card issuer and proven your worth as a borrower.

By then, you’ll be able to take advantage of all the benefits that come with a credit card, including the ability to meet financial goals and deal with emergencies. Should your request be denied, you can always apply for a new credit card with a higher credit limit.

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