Asking the bank to raise your credit limit isn’t always a bad move—unless your only intention is to splurge on things you can’t afford.
A credit card limit increase boosts your spending power, which is extremely helpful in preparing for the unexpected, like a financial emergency. It helps you cover your needs without having to worry about maxing out your card.
With an increased credit limit, you can also meet your family’s growing needs. When you add supplementary credit cards to your account, you share just one credit line with all cards under your name. So getting a credit card limit increase makes sense in this situation, and it all starts with learning how to increase credit limit on your card.
How to Increase Credit Limit in the Philippines
Credit limit refers to the maximum amount of credit a financial institution extends to a client.[1] There are two ways to get a higher credit card limit in the Philippines. Either you wait for the bank to automatically raise your credit limit, or you apply for a credit limit increase through the bank’s customer service representative.
If you choose the second option, be prepared to submit income documents to prove that you have sufficient income to pay for a higher monthly credit card bill.
Here’s how to apply for a credit card limit increase per bank in the Philippines.
How to Increase AUB Credit Limit
AUB credit cardholders may ask for a higher credit limit, subject to the bank’s approval. Just call the AUB Customer Service Contact Center at (+632) 8282-8888 from Monday to Friday, 8:30 a.m. to 5:30 p.m. The request may also be coursed through email via customercare@aub.com.ph.
How to Increase BPI Credit Limit
To request BPI to increase your credit limit, call the BPI Express Phone Hotline (889-10000). You’ll be asked to submit income documents such as income tax return (ITR) or payslips, which BPI will use to evaluate if you’re creditworthy enough to get a higher credit card limit.
Read more: Don’t Let Credit Card Fraud Happen to You: Here Are Some Tips
How to Increase HSBC Credit Limit
HSBC cardholders can request either an increase or a decrease in their credit limit. Simply call the HSBC Customer Support Centre at (02) 8858-0000. Your application is subject to the bank's credit approval.
How to Increase Maybank Credit Limit
Increasing your Maybank credit card limit can be just a phone call away. Here's how to contact Maybank for this purpose:
- 24/7 Maybank customer service hotline - (+632) 8588-3888
- PLDT Domestic Toll-Free Hotline - 1-800-10-588-3888
Applications for Maybank credit card limit increase are subject to credit evaluation.
How to Increase Metrobank Credit Limit
Metrobank accommodates requests for a temporary or permanent credit limit increase through Facebook Messenger.[2] Just visit the official Metrobank Card Facebook page and send a message.
You can also talk to a live customer service representative on how to increase your credit limit with Metrobank. The representative is available from Mondays to Fridays, 9 a.m. to 4 p.m., to assist you with your application.
How to Increase PNB Credit Limit
PNB allows its cardholders to request a PNB credit limit increase via email. Here’s how:
1. Download the PNB Cardholder Request Form.[3]
2. Fill out the form. Put a checkmark next to "Please increase my credit limit/s to" and indicate your desired credit limit amount in Philippine peso or US dollar. Sign at the bottom of the request form.
3. Email the accomplished form together with these latest income documents to pnbcreditcards@pnb.com.ph:
- One-month payslip
- ITR
- Two-month billing statements of a non-PNB credit card
How to Increase RCBC Credit Limit
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.
How to Increase Security Bank Credit Limit
You can apply for a higher credit limit only if your Security Bank credit card has been active for at least 12 months. To request a Security Bank credit limit increase, call the hotline at (02) 8887-9188.
You'll be required to submit at least one of the following income documents:
- Latest three-month payslip
- Certificate of Employment
- Latest ITR
These documents will be the basis, among several others, of Security Bank's decision on whether to give you a higher credit limit or not.
Looking for cards that offer the highest credit limits? Consider options in the Platinum or World tiers. Check out such cards below:
| Credit Card | Key Features |
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Metrobank Platinum Mastercard®
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Metrobank World Mastercard®
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HSBC Platinum Visa Rebate
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Security Bank Platinum Mastercard
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Security Bank World Mastercard
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BPI Platinum Rewards Mastercard
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4 Tips to Improve Your Chances of Getting a Higher Credit Limit
Raise your odds of getting the bank's approval for an increase in your credit card limit. Here are a few tips to help you out.
1. Don't Ask Too Soon
Typically, banks review their clients’ credit card accounts every six to 12 months. Requesting a credit limit increase when you’ve been a customer for less than six months reeks of desperation and could raise a red flag.
However, you can always bargain for a higher credit limit than your current one if you apply for a new credit card from a different issuer. Most credit card companies base your credit limit on your existing card. Before activating your new card, you can call the issuer and request to increase the limit.
2. Make Sure You're Creditworthy
Any application for a credit card limit increase goes through the bank's evaluation process. Factors such as your credit score, income, and employment status are considered before making a decision.
Also, the bank sees you as creditworthy if you've been a good client for at least six to 12 months. This means you've been paying your credit card bills on time and spending within your credit limit.
If you meet all those eligibility requirements and submit complete supporting documents, then you have a fairly good chance of getting approved for a higher credit limit.
3. Explain Why You Deserve a Credit Card Limit Increase
Rather than making an appeal to emotion (like telling the bank representative about the difficult financial situation you're in), focus on the logic of your request.
Offer sensible reasons why you should get a credit limit increase. Here are some examples:
- You've been a loyal customer for a long time.
- You've never missed a credit card payment.
- You always pay your credit card bill in full and on time.
- You have never maxed out on your card and always spend less than 30% of your current credit limit.
- Your income has increased recently.
You can even write a pitch and have it ready when you contact the bank's customer service staff.
4. Don’t Ask for Too Much
Be prudent when requesting a credit card limit increase. You can ask for a 10% to 25% increase—anything higher than that can be seen as a red flag.
What Happens After Getting a Credit Card Limit Increase?
You can immediately make a request with your card issuer. However, be prepared for certain things that might happen once the banks grant your request.
1. Your Credit Utilization Will Be Low
Having a higher credit limit lowers your utilization ratio, which is a good thing for your credit score. The ideal credit utilization ratio is 30% of your credit limit.
If your credit limit is ₱100,000, you should carry a maximum of ₱30,000 balance. If you always use more than 30% of your credit limit, credit card issuers will get the impression that you’re overspending.
2. Your Credit Card Might Get Upgraded
There are times when the credit card issuer will grant your request by upgrading your credit card to accommodate the credit limit increase. If this is the case, the terms and conditions of the credit card may change, too.
However, if you were able to retain your card with an increased credit limit, then you still enjoy the current card benefits.
If you get upgraded to higher-tier cards, this can be a good or a bad thing, depending on your lifestyle. For instance, you might get upgraded to a credit card for travel, which does not suit your lifestyle because you spend more on groceries. Negotiate for the right credit card to enjoy more perks and rewards.
3. Lenders Might Offer Loans at Lower Interest Rates
After getting a credit card limit increase, you may start receiving more product offers from different banks and lenders. Why? Simply because your credit score improved and lenders now consider you as a low-risk borrower.
4. You Can Enjoy More Perks
With a higher credit limit, you can purchase more items that are usually more affordable when bought in bulk. You can also take advantage of items on sale which are essential for your household.
Moreover, those who use their credit cards for business can also buy from more merchants and take advantage of the opportunity to negotiate.
5. You Might Want to Close Other Credit Cards
If you find it difficult to manage multiple credit cards, you can cancel other cards with low credit limits. This will cut your spending and save time and effort tracking your expenses charged to these cards.
FAQs on How to Increase Credit Limit
1. Is it bad to request a higher credit limit?
There’s nothing wrong with requesting a credit limit increase. As long as you have the self-control to use your credit limit wisely, then you deserve to have the better purchasing power to pursue your financial goals.
2. What do banks consider when deciding to increase my credit limit?
Banks or credit card issuers usually check your credit card usage. You should always keep your card active and your balances paid on time and in full. Aside from this, banks also check the following:
- Payment history - Are you paying your balances on time and in full?
- Current accounts - How many loans and savings accounts do you have that are in active or good standing?
- Income - Is your income enough to cover a higher credit?
- Debt - How much do you currently owe banks and lenders?
- Account history - How long have you been an account holder of the issuing bank?
3. How long does it take to increase credit limit?
Depending on the bank and on your credit standing, the credit limit increase may take effect immediately or within three to 10 banking days after making the request.
4. Why did I get an automatic credit limit increase?
A bank-initiated credit card limit increase usually happens if you’ve been a credit card owner for years and you’ve demonstrated that you’re a responsible cardholder.
5. Can I request a temporary credit card limit increase?
If you really need a higher credit limit but don’t want to make another request, you can apply for a higher-tier card. For example, if you have a basic credit card with a ₱50,000 credit limit and you want a ₱100,000 credit limit, you can apply for a platinum credit card or other credit cards with a higher credit limit.
Some issuers consider issuing a higher-tier card if you deserve the credit limit increase, and the card you currently own doesn't meet your spending needs.
6. Do fees increase along with the increased credit limit on my card?
No, credit card fees and other charges remain the same if you retain your current credit card.
7. How do I decrease the credit limit on my credit card?
You can also request it or have the credit card issuer initiate the downgrade. Most credit cardholders who rarely use their cards or whose cards have been dormant for a year usually get lowered credit limits.
Final Thoughts
Learning how to increase your credit limit is easy, but requesting one can be tough. The most difficult part is getting the bank’s approval. As always, the key to having your credit limit increased is to use your card responsibly and to be consistent in your payments.
Once you’ve developed a good relationship with your credit card issuer and proven your worth as a borrower, the journey to a higher credit card limit will be much easier. By then, you can maximize all the perks that come with a credit card, including the chance to achieve your financial goals and address emergencies.
If your request is rejected, you can get a new credit card with a higher credit limit instead. Compare cards at Moneymax to find one that suits your needs best before you start your credit card application in the Philippines.
Sources:
- [1] What is a credit limit? (Investopedia)
- [2] Metrobank Card on Facebook Messenger
- [3] PNB Cardholder Request Form
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