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Credit Limit Increase Request Letter Template for Philippines

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Credit Limit Increase Request Letter

"I need a Credit Limit Increase Request Letter for my Metro Bank credit card, requesting an increase from PHP 50,000 to PHP 100,000, highlighting my recent salary increase and perfect payment history over the past two years."

What is a Credit Limit Increase Request Letter?

The Credit Limit Increase Request Letter is a formal document used when a credit card holder wishes to request an increase in their credit card spending limit from their issuing bank in the Philippines. This document is typically submitted when cardholders have demonstrated good payment history, experienced an increase in income, or require additional credit for specific purposes. The letter must adhere to Philippine banking regulations, including BSP Circular No. 1048 on Credit Card Operations and the Truth in Lending Act. It should include current account details, requested credit limit, justification for the increase, and current financial information. The document serves as both a formal request and a record of the application, often requiring supporting documentation such as proof of income or bank statements.

What sections should be included in a Credit Limit Increase Request Letter?

1. Sender's Information: Full name, current address, contact details, and account number

2. Date: Current date of the letter

3. Recipient's Information: Bank's name, branch address, and department (typically Credit Card Department)

4. Subject Line: Clear indication that this is a credit limit increase request

5. Current Credit Situation: Current credit limit and length of account ownership

6. Request Details: Specific amount of credit limit increase being requested

7. Justification: Primary reasons for requesting the increase

8. Payment History Reference: Brief mention of good payment history and responsible credit use

9. Closing: Professional closing with signature block and contact information

What sections are optional to include in a Credit Limit Increase Request Letter?

1. Income Information: Updated income details if there has been a change in employment or salary

2. Business Information: Details about business ownership or self-employment if applicable

3. Special Circumstances: Any unique situations or temporary needs that justify the increase

4. Relationship History: Additional banking relationships or products with the same institution

5. References: Professional or financial references if requested by the bank

What schedules should be included in a Credit Limit Increase Request Letter?

1. Proof of Income: Recent pay slips, tax returns, or other income documentation

2. Bank Statements: Recent bank statements showing financial stability

3. Credit Score Report: Current credit score information if available

4. Employment Verification: Letter from employer or business registration documents

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions

























Clauses















Relevant Industries

Banking

Financial Services

Consumer Finance

Retail Banking

Corporate Banking

E-commerce

Retail

Professional Services

Small and Medium Enterprises

Relevant Teams

Credit Operations

Risk Assessment

Customer Service

Compliance

Personal Banking

Card Services

Account Management

Banking Operations

Credit Assessment

Document Processing

Relevant Roles

Credit Analyst

Bank Branch Manager

Credit Card Department Manager

Risk Assessment Officer

Customer Service Representative

Financial Advisor

Relationship Manager

Compliance Officer

Credit Operations Manager

Banking Operations Manager

Account Manager

Personal Banking Officer

Industries






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