Globe Telecom‘s e-wallet arm GCash recently launched the first trust score and QR-based credit in the Philippines — GCredit and GScore – via a collaboration with Mynt and Fuse!
Now, you can do your shopping anytime you need it when you activate your GCredit account in your GCash App and get started enjoying all the beta features GCredit has to offer!
On the other hand, your GScore starts working by getting your QR-based credit limit with GCash GCredit feature; then rank up your GScore to get a higher limit!
10+ Tips for your GCash GCredit & GScore
Here are 10+ Questions-&-Answers Tips on GCredit & GScore to get increase your chances of access to GCredit and make your GScore game strong!
- How to Increase GScore?
GCash users can now build their GScore based on their transactions to unlock the GCredit feature.
- What is GCredit?
GCredit is a credit limit available on the GCash app which may be used as a another payment source for your purchases. You can have a credit limit that you may use again every time you pay off a purchase with the corresponding interest.
- How do I become eligible for GCredit?
The first step to become eligible for GCredit is to be a fully verified customer of GCash! Customers would also have to meet the required trust score and pass our credit evaluation parameters. Try to increase your trust score by continuously using your GCash account and provide the necessary documents to become eligible for GCredit!
- How can I apply for GCredit?
Just open your GCash app and tap ‘Manage Credit’. Once you’ve met all pre-qualifications needed, simply proceed with your application by reviewing your personal information and filling other personal fields. Once submitted, our evaluation process will start.
There’s no need to submit any documents since all customers will go through a verification process in GCash. You will then receive an SMS and e-mail notification based on the details you provided during the application process.
- Do I need a Globe Number to apply for GCredit?
Yes. As of now, to be able to apply for GCredit, you must have a Globe Number.
- How do I use GCredit?
You can use GCredit as a payment source for GCash QR transactions in Ayala Malls and partner merchants such as Puregold, Robinsons, and SM!
- Can I get two credit limits at the same time?
No, you can only have 1 GCredit limit at a time. Also, if you have an existing loan with Fuse Lending, you cannot avail of GCredit.
- How can I apply for a higher credit line amount?
Increase your credit limit by having a good payment history and by submitting additional requirements when prompted.
- Where can I use my credit line?
You can use your GCredit via the Pay QR option in your GCash App in leading stores in Ayala Malls and partner merchants such as Puregold, Robinson and SM Malls, etc. You may view the full list of GCredit enabled establishments here.
- Can I use my credit line once I receive my SMS and email approval notification?
Just follow the instructions in the SMS and email. You’ll be able to use GCredit in no time!
- How can I have my credit limit increased?
We will notify you once you’re eligible for an increase in credit line. Just a tip: A good payment history may increase your chances in having a better GCredit.
- Can I re-apply for GCredit if I get rejected?
Yes, you may re-apply. However, kindly note that you will have to meet all requirements before you can be approved of a GCredit.
- When do I need to pay for my credit line?
You need to pay for your GCredit, within 15 days after your billing date. We will also send a Statement of Account (SOA) to your registered e-mail address on your billing date as a reference. We will also notify that we have sent your SOA via SMS.
To know how much you have to pay, you may refer to your monthly Statement of Account that we send on your registered e-mail address, SMS notifications, and on the “Manage Credit” icon in the GCash app.
- What’s the interest rate?
The interest rate is a maximum of 5% per 30 days of your used credit limit. Note that the interest rate is prorated.
Example: For a credit limit of Php 1,000, the maximum interest charges for 30 days is Php 50 only!
- How do I pay for my credit line?
You can pay for your GCredit ensuring that you have enough balance to cover for your due amount. You may either cash-in through a GCash Partner Outlet or transfer funds to your GCash from your BPI, RCBC or PayPal account. You may opt to have the amount due automatically debited from your wallet on your due date or make a payment via the GCash app by going to the ‘Manage Credit’ page in app.
- Can I pay for my credit line before it’s even due or what happens if I make a partial payment before my due date?
Yes! You can pay for your GCredit before your due date by clicking on the ‘Make a Payment’ button inside the GCash app, under the Manage Credit page. This will also replenish your GCredit available limit right away.
- What happens if I make a partial payment on my due date?
You may make a partial payment on your due date. However, this means that you will incur penalties and additional interest charges. This also means that your GCredit will be suspended until you pay off your total amount due.
- What happens if I miss paying for my credit line?
You will incur penalties and additional interest charges based on how many days has passed since your due date. The table below can guide you accordingly:
|Days Late||Penalty Charges||Interest Charges|
|1 – 30||Php 200||5% of unpaid due principal for every 30 days missed|
|31 – 60||Php 500|
|61 – 90||Php 900|
You can pay for your GCredit after your due date by clicking on the ‘Make a Payment’ button inside the GCash app, under the Manage Credit icon. This will also replenish your GCredit available limit right away!
Download it now from the App Store or Play Store, available for all networks and selected GCash users.