Understanding your revolving credit line statement

Now that you know the difference between the total and the minimum amount due, you’re ready to settle your REVI Credit bill. There are actually three payment options you can choose from. The first option is to pay the statement balance in full. This means, you will settle the PHP 15,000 total amount due and bring your credit back up to PHP 50,000.

The second option is to pay a little above the minimum amount due. If you decide to pay PHP 5,000 out of your total amount due, your credit line will go back up to PHP 40,000. In the meantime, the remaining PHP 10,000 from your total amount due shall accrue interest that will be reflected on your next bill.

The last option is to pay the minimum amount due of PHP 2,250. This will bring your credit line up to PHP 37,250.  The remaining PHP 12,750 from your total amount due will be subject to interest that shall reflect on your next billing statement. 

In the scenario that you fail to pay the minimum amount due, your total outstanding balance of PHP 15,000 will accrue interest that will reflect in the next billing statement. On top of that, you will be charged with a late payment fee of 5% from your outstanding balance or PHP 750. While it doesn’t seem like a huge sum at first, neglecting to pay your monthly due can lead to bigger charges and interest fees, and can greatly affect your credit score.

Remember, getting a credit line comes with a responsibility of keeping up with your payments. This way, you are sure to have access to cash whenever the need arises and you can open up new credit in the future that can help leverage your finances.

You can be ready for anything all thanks to CIMB Bank’s first all-in-one revolutionary product, REVI Credit! Get easy access to credit and financial flexibility right at your fingertips. If you’re an existing CIMB Bank customer, all you need to do is download the REVI Credit app and apply for a revolving credit line of up to PHP 250,000. You can use it to buy load and pay bills. You can even convert a portion of your approved credit line to cash or to a Term Loan! Buy now and pay later with our virtual card soon! All these with ZERO ANNUAL FEES!

Visit this link to learn how to apply for a REVI Credit line:

Head over to this page to learn more about REVI Credit:

Learn more about credit score and how to maintain it in the link below: 

Seize your life’s goals with CIMB Bank. Download the REVI Credit App and apply now!

Deposits are insured by PDIC up to P500,000 per depositor.

CIMB Bank Philippines Inc. is regulated by the Bangko Sentral ng Pilipinas. You may contact the BSP Financial Consumer Protection Department at (+632)8708-7087 or consumeraffairs@bsp.gov.ph.