FIs disallowed from granting further unsecured credit to borrowers who are 60 days past due on any credit card or unsecured credit facility extended by the FI. Other FIs will also not be allowed to grant credit limit increases, or issue new credit cards or unsecured credit facilities, to such borrowers (“60 days past due rule”).
When can an FI lift suspensions imposed on credit cards and unsecured credit facilities (as a result of the 60 days past due rule)?
Credit cards and unsecured credit facilities that have been suspended as a result of this rule can be reinstated once the borrower has repaid all minimum payments due, and the FI has conducted fresh income and credit bureau checks on the borrower.
You are about to enter a third party website & CIMB Group's Privacy Policy will cease to apply.
This link is provided for your convenience only and shall not be considered or construed as an endorsement or verification of such linked website or its contents by CIMB Group.
CIMB Group makes no warranties as to the status of this link or information contained in the website you are about to access.