Financial Blog

Please note that as of October 1, 2016, SB Cards Corporation, the credit card subsidiary of Security Bank, has successfully completed the sale of the Diners Club franchise to BDO Unibank. This makes BDO the exclusive issuer and acquirer of Diners Club in the Philippines.

If you had a Diners Club credit card issued by Security Bank, the single credit limit will be carried by both brands. For example, if your consolidated limit is P100K for Diners Club and MasterCard, it will become P100K each for Diners Club and MasterCard starting Oct. 1, 2016.

Single limit is simply the combined credit limits of all your Diners Club and Security Bank MasterCard credit cards. It is the maximum amount that you can spend using any of your Security Bank credit cards, provided that the total outstanding balance of all your cards does not exceed the Single Limit.

Read more: I Can’t Pay My Credit Card Bill –Now What?

This means if you get a notification that you have exceeded your credit limit while using any Security Bank MasterCard or Diners Club credit card, then you have exceeded the Single Limit. You can no longer use them for any transactions until your credit line bounces back to the full amount in the next billing cycle.

You might be asking yourself “Why would you consolidate all limits into one?” or “Does that mean that I effectively get a lower credit limit across all of my Security Bank credit cards?

Because of Single Limit, you no longer need to track multiple credit limits across multiple cards. And no, you don’t get an effectively lower credit limit because Single Limit is the sum of all your credit limits. It merely simplifies your spend by requiring you to monitor only one limit.

The due date of your credit cards will remain the same. This means that you have the flexibility to exhaust your Single Limit on the card that has the most convenient due date for you. It empowers you to match your spend to your lifestyle by choosing which card you want to exhaust the limit on (without the need to submit additional requirements)—whether it’s Complete Cashback, Rewards Platinum or MasterCard Rewards.

If you find that the credit limit currently provided to you is insufficient, you may request for a credit limit increase through the hotline at 8887-9188. Please note that your request will still be subject to verification and approval based on the income documents that you will provide.

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