What is the maximum limit of SPayLater?

Unlocking Your Spending Power: Understanding SPayLater’s Credit Limit

SPayLater offers a convenient way to manage your finances, letting you buy now and pay later. But just how much spending power does it unlock? While SPayLater boasts a maximum credit limit of RM10,000, it’s crucial to remember that this figure isn’t a guarantee for every user.

Your individual SPayLater limit is personalized, determined by a careful assessment of several factors:

• Credit History: A strong credit history, demonstrating responsible borrowing and repayment, can boost your chances of securing a higher limit.
• Income: A stable and sufficient income reassures SPayLater of your ability to repay borrowed funds, influencing the credit limit you’re offered.
• Payment Behaviour: Consistently making on-time repayments on existing SPayLater transactions or other credit facilities builds trust and can lead to a higher credit limit.

Essentially, SPayLater utilizes this information to gauge your creditworthiness and determine a limit that aligns with your financial capabilities.

It’s important to note that requesting a credit limit increase or decrease is possible through the SPayLater app. However, approval depends on your updated financial profile and SPayLater’s internal policies.

Remember, a credit limit isn’t a target to hit but a resource to manage responsibly. By using SPayLater judiciously and maintaining a healthy credit profile, you can unlock its full potential while staying in control of your finances.