Standard Chartered Credit Limit Review
A higher credit limit is something that can come in handy in the case of a financial emergency. If spent wisely, an increased credit limit is certainly an asset. Standard Chartered helps you get more financial freedom by providing a credit limit increase of up to 4 times of the income you earn every month if your annual income is S$30,000 or more & less than S$120,000. You can get an increase of 8 times your monthly salary if your annual income is S$120,000 or more.
How to Apply
The application process for this is simple and quick:
- Download the form from the bank website and fill it up
- Mail it to the bank in the reply envelope that comes with the form, along with the required documents
- You can also send it via fax on the number provided on the website
Along with the credit limit form, you also have to provide a set of necessary documents. The bank has categorized the documents needed, on the basis of your employment in Singapore.
- Last Income Tax NOA
- Copy of the last electronic payslip
Commission Based Employee:
- Most recent Income Tax NOA
- Copy of last 3 months electronic payslip, or
- If you are a 100% commission earner, you just need the latest Income Tax Notice of Assessment
- You must be involved in the business for a minimum of two years
- Latest Income Tax Notice of Assessment
How to Fill the Form
This part is about how you need to fill up the form. Knowing about these details and being prepared may help to make the process just a little bit quicker.
- The first section is where you need to attach all the relevant documents, according to the employment category you fall into.
- In the second section, you need to specify how much increase you would like to get on your credit. You can also let the bank decide the increase in credit limit.
- The third part is about the details of the main cardholder. Here you will have to specify details like your name, contact details, employment details and, passport number.
- The fourth part is for the supplementary cardholders. Any supplementary cardholder has to enter their full name and sign in the provided area.
- The last section is where you provide your signature as the principal cardholder.