How to Apply for a Temporary Credit Limit Increase with Standard Chartered Singapore
If you are a Standard Chartered Singapore credit card holder, you may find yourself in need of a temporary credit limit increase for various reasons. Whether it is for overseas travel, wedding, funeral, medical or hospitalisation expenses, you can apply for a temporary credit limit increase to better manage your finances and enjoy more spending power.
Standard Chartered Singapore Temporary Credit Limit Increase
In this article, we will explain what a temporary credit limit increase is, how to apply for it, and what are the benefits and terms and conditions of this service.
What is a Temporary Credit Limit Increase?
A temporary credit limit increase is a service that allows you to increase your credit card credit limit for a short period of time, ranging from 16 to 60 days. This means that you can spend more than your usual credit limit without incurring any overlimit fees or affecting your credit score.
A temporary credit limit increase is different from a permanent credit limit review, which requires you to submit your income documents and may take longer to process. A temporary credit limit increase is also not a loan or a cash advance, which may incur interest charges and fees.
How to Apply for a Temporary Credit Limit Increase?
Applying for a temporary credit limit increase with Standard Chartered Singapore is easy and convenient. You can do it online through the SC Online Banking or SC Mobile app. Here are the steps to follow:
Log in to your SC Online Banking or SC Mobile app.
Select "Help & Services" and then "Card Management".
Select "Temporary Credit Limit Increase" and choose the card(s) that you want to apply for.
Indicate the amount and duration of the temporary credit limit increase that you need. You can choose from 16 to 60 days of validity.
Review and submit your application. You will receive an instant approval notification if your application is successful.
You can also apply for a temporary credit limit increase by calling the Standard Chartered hotline at 1800 747 7000 or visiting any of their branches.
What are the Benefits of a Temporary Credit Limit Increase?
A temporary credit limit increase can help you in various situations where you need more financial flexibility and convenience. Some of the benefits are:
You can pay for large or unexpected expenses without worrying about exceeding your credit limit or affecting your credit score.
You can enjoy more spending power and rewards when you travel overseas or shop online.
You can avoid applying for a loan or a cash advance, which may incur interest charges and fees.
You can choose the amount and duration of the temporary credit limit increase that suits your needs.
You can get an instant approval online without submitting any income documents.
What are the Terms and Conditions of a Temporary Credit Limit Increase?
Before you apply for a temporary credit limit increase, you should be aware of the terms and conditions that apply to this service. Some of the important ones are:
You must be an existing Standard Chartered Singapore credit card holder with a good repayment history.
You must pay down the utilized additional limit upon expiry of the temporary credit limit. Otherwise, you may incur an overlimit fee of S$40.
You must continue to make the minimum payment on your card account by the due date. Otherwise, you may incur late payment charges and interest charges.
You must not use the temporary credit limit increase for illegal or prohibited purposes, such as gambling or money laundering.
You must agree to be bound by the terms and conditions of the Cardholder Agreement and the Bank's Customer Terms.
For more details, please refer to the [Temporary Credit Limit Increase Terms and Conditions].
Conclusion
A temporary credit limit increase is a useful service that can help you manage your finances better and enjoy more spending power. If you are interested in applying for one, you can do it online through the SC Online Banking or SC Mobile app, or by calling the Standard Chartered hotline or visiting their branches. However, you should also be aware of the terms and conditions that apply to this service and use it responsibly.
We hope that this article has given you some insights on how to apply for a temporary credit limit increase with Standard Chartered Singapore. If you have any questions or feedback, please feel free to contact us or leave a comment below.
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