Why has my credit limit been reduced? What can I do to resolve this?

Your credit limit may be temporarily reduced as part of our regular internal review process, common reasons for limit reduction may include, but are not limited to:

1. Exceeding Industry-Wide Borrowing Limits¹: For three consecutive months, your interest-bearing outstanding balances² on all unsecured credit facilities (including credit cards and personal loans) across all financial institutions in Singapore have exceeded the permissible industry-wide borrowing limit
2. Significant Past Due Balances: At least one of your credit cards or other unsecured credit facilities with MariBank is 60 days or more past due
3. Existing Debt Management Programs: You currently have an active Debt Consolidation Plan (DCP) in place with any financial institution

Limit reduction entails the following:

1. You will only be able to spend up to your revised credit limit (if any, as opposed to your previous higher limit) on your Mari Credit Card

Reinstating Your Credit Limit After Limit Reduction

While the review for restoring your previous higher credit limit will occur after a cooling-down period has passed, taking the following actions can significantly improve the chances of a positive outcome when that review takes place:

1. Reduce Outstanding Balances
2. Address Past Due Balances

This cooling-down period generally ends either 3 months after your Mari Credit Card Account's suspension date, or 1 month after any overdue balances have been fully paid, whichever is later. The exact duration applicable to your Mari Credit Card Account may vary based on individual circumstances. To find out the specific cooling-down period for your Mari Credit Card Account, please contact our Customer Service team.

Important Considerations:

Resumption of your previous credit limit is subject to our bank's consideration, the outcome of our review, and your adherence to relevant regulatory guidelines and our internal policies. Addressing the reasons for limit reduction does not guarantee immediate credit limit increase, but it significantly improves the chances.

¹ The borrowing limit is 12 times of your monthly income.

² These include amounts rolled over on credit cards and balances outstanding on unsecured loans that accrue interest. Such balances do not include amounts charged to credit cards that are fully repaid by their due dates, and amounts outstanding on interest-free instalment payment plans. If interest is imposed on a particular instalment due to late payment, the instalment amount will be included.