When you obtain your first credit card, the bank or financial institution where you applied for a credit card will allocate a reasonable amount of credit limit to your situation.
In general, this limit is determined based on several factors in the application of your credit card, such as your monthly income, expense, debt, as well as credit score.
If you have an OCBC credit card and your credit limit is too high, you will instead raise the risk of unpaid debt.
Therefore, it’s essential to know how to change OCBC credit card limit to prevent you from ongoing liability.
Change Credit Card Limit in OCBC
You can increase or decrease credit card limit with a permanent or temporary credit limit increase.
Permanent OCBC credit limit increase
- First off, download the PDF form of credit limit review. Go to the official website of OCBC to get the document, or you can simply visit the nearby OCBC branch.
- Fill in your personal details (name, NRIC/Passport, contact number, nationality, name of employer, and how long you have been working in Singapore if you happen to be a foreigner), the limit of a credit card you desire, and the proofs of your income.
- Mail the credit limit review form along with the supporting documents or bring them direly to the nearest OCBC customer center.
Temporary OCBC credit limit increase
Here is how to change OCBC credit card limit temporarily.
- Call the OCBC hotline at 6363 3333 or visit the OCBC customer service administrator. They will help you with what you need to provide when you apply for a temporary increase in credit limit.
- Keep in mind that you can only request this service when you need your credit card for travel, hospitalization, funeral purposes, medical, and wedding ceremonies.
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Terms and Conditions of OCBC Credit Card Limit Adjustment
- When you apply for an increase in your credit limit, you should have monthly and yearly incomes that are higher than the payments in the OCBC record. Suppose your submitted income records are lower than is currently reported. In this case, OCBC will automatically reduce the limit of your credit card.
- If the request for a temporary OCBC credit limit increase has been granted, be advised that any modification to a permanent limit of your credit card will only be effected right after the temporary limit is expired. The permanent limit goes back to the original limit.
- Your request will be processed within 2 weeks, and you will receive a notification of the bank’s decision by email.
- Your request will be effective for only 30 days from the exact date you submit your application. Suppose your submission is sent after 30 days. In that case, it will be considered to have expired, and OCBC will automatically reject your request. If no date is given, OCBC will determine the date on which they receive the document as the effective date.
OCBC will make a definitive and binding decision on all matters relating to a credit limit adjustment request.