GCredit is now powered by CIMB Bank Philippines. This partnership aims to provide better offers, a higher credit line and lower interest rates in the future
Here are the 13 things you should know!
FAQ #1: Will there be changes in policies now that CIMB Bank will be the new credit provider?
Answer: Yes, there will be changes in GCredit’s eligibility requirements in compliance with CIMB Bank’s policies & criteria. To know more, please visit here.
FAQ #2: What am I not seeing the opt-in page to update my GCredit account?
Answer: Starting March 26, 2021, make sure you have the latest version of your GCash app, and kindly visit “Manage Credit” on your app to know more about the steps you have to do to update your GCredit!
FAQ #3: How can I update my GCredit account?
Note: Starting March 26. there will be a gradual rollout of GCash Update thus some users might not be able to update their GCash App.
Answer: You need to update your GCredit account to continue using GCredit as a payment option. You can update your account in as fast as 3 taps! Here are the steps you have to follow:
Step 1: Make sure your App is updated to our latest version of v.5.39
Step 2. Go to Manage Credit on the GCash application.
Step 3: Agree to the CIMB's bank policies.
Step 4: Tap “Submit”.
And done! You can now continue using GCredit for your payments powered by CIMB Bank!
NOTE: GCredit as a payment option will only be unavailable if you did not update your GCredit by April 26, 2021. But you can still pay your GCredit dues (if there’s any) anytime via Manage Credit!
FAQ #4: Until when can I update my GCredit account?
Answer: Mark your calendar, here are the dates you should remember:
- March 26, 2021- starting date of GCredit account update.
- April 26, 2021- Your GCredit will become unavailable as a payment option if you fail to update your account.
Note: You can update it starting March 26, 2021 onwards, but we highly advise you to update it as early as you can, to avoid any interruptions with your payment experience!
FAQ#5: Why does GCredit only accept Filipinos?
Answer: CIMB Bank is being regulate by Bangko Sentral ng Pilipinas (BSP), and in compliance with BSP’s regulatory requirements, GCredit will only be offered to Filipino nationals.
FAQ#6: Why does GCredit only accept 21-70 years old?
Answer: This is also part of CIMB Bank’s eligibility policy and guidelines. However, if you are below 21 years old, you will be notified by the app once you reach 21 years old; if you are still an active GCash user during that time then you may update your GCredit. Unfortunately, if you are above 70 years old, you will be unable to continue using GCredit.
FAQ#7: What if I see an in-app prompt, upon tapping ‘Manage GCredit’, that I no longer meet the eligibility requirements? What do I do?
Answer: First, check which eligibility criteria you were unable to meet. Depending on the criteria, you must follow the steps accordingly in order to meet the criteria requirement. To know more about the changes in GCredit eligibility requirements, please visit here.
FAQ#8: What can I do to increase my GScore?
Always pay your GCredit dues on or before your due date!
Continuously transact using GCash and GCredit
FAQ #9: What if I still have an unsettled amount due with GCredit, can I still update my account?
Answer: Only overdue accounts won’t be able to update their GCredit until they have fully settled their outstanding balances in full.
FAQ #10: What will happen if I don’t update my GCredit account starting March 26, 2021?
Answer: You can still use GCredit as a payment option until April 25, 2021 but we highly advise you to update your account. If you fail to update your account, you will not be allowed to use GCredit as a payment option starting April 26, 2021
FAQ#11: If I decide to update GCredit starting April 25 onwards, can I use it immediately?
Answer: Yes! You can immediately continue using GCredit as a payment option to shop and pay bills!
FAQ #12: Will GCash be sending me announcements regarding this?
Answer: Yes, we make sure that we communicate to you every important news concerning your GCredit account. Keep posted on our SMS, email, and in-app reminders, etc.