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 12 things you should know!
FAQ #1: I submitted my ID already, why is my account not updated yet?
Make sure your ID is still valid and included in the acceptable IDs list of CIMB prior to submission. Here is everything else you need to know regarding ID acceptance;
1. Ensure that your ID is not expired
2. Blurred ID photos will not be accepted
3. The name on your nominated ID must match your registered GCash name
FAQ #2: What will happen if I don’t update my GCredit account by May 25, 2021?
If you fail to update your account, GCredit will be unavailable as a payment option for online payments starting May 26, 2021. GCredit will also be unavailable as your payment option for Pay QR & Pay Bills which will take effect a few days after May 25, 2021 as we gradually roll out the new GCash app update.
We highly advise you to update your account as early as you can, to avoid any interruptions with your payment experience!
FAQ #3: If I decide to update GCredit any day after May 25, can I use it immediately?
Yes! You can immediately continue using GCredit as a payment option to shop and pay bills!
FAQ #4: How can I update my GCredit account?
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 or higher
Step 2. Go to Manage Credit on the GCash application.
Step 3: Agree to the CIMB bank's 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 May 25, 2021. But you can still pay your GCredit dues (if there’s any) anytime via Manage Credit!
FAQ #5: Why can I use GCredit as a payment option for Pay Bills & Pay QR, but I can’t use GCredit as a payment option for online purchases?
Starting May 25, 2021 there will be a gradual roll out of GCash app update which will result to some customers to still be able to use GCredit as a payment option for Pay Bills & Pay QR. A few days after May 25, 2021, GCredit will be unavailable as a payment option for Pay Bills & Pay QR to all customers who have not updated their GCredit account.
However, starting May 26, 2021, all customers who have not updated their GCredit account will not be able to use their credit line for online payments.
FAQ #6: Will there be changes in policies now that CIMB Bank will be the new credit provider?
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#7: Why does GCredit only accept Filipinos?
CIMB Bank is being regulated by Bangko Sentral ng Pilipinas (BSP), and in compliance with BSP’s regulatory requirements, GCredit will only be offered to Filipino nationals.
FAQ#8: Why does GCredit only accept 21-70 years old?
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#9: What if I see an in-app prompt, upon tapping ‘Manage GCredit’, that I no longer meet the eligibility requirements? What do I do?
Your Manage Credit page will show you the necessary steps to complete your account update. Simple follow the on-screen instructions and provide correct information to finish the update. To know more about the changes in GCredit eligibility requirements, please visit here.
FAQ#10: What should I do to increase my GScore?
Follow these tips to increase your score!
- Always settle your GCredit dues on or before the due date
- Start or continue using GSave
- Start or continue using GInvest
- Transact weekly using GCash to Pay Bills, Pay QR, and more!
FAQ #11: What if I still have an unsettled amount due with GCredit, can I still update my account?
Only overdue accounts won’t be able to update their GCredit until they have fully settled their outstanding balances in full.
FAQ #12: Will GCash be sending me announcements regarding this?
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.
Updated last May 18, 2021