Credit Limit Singapore - What It's Based On & How to Increase It (2025)
Are you spending close to your credit card limit and wondering how you can get a credit limit increase? How is the credit limit even determined in the first place? Take charge of your credit limit with the following information.
How Is Your Credit Limit Calculated in Singapore?
The credit limit on your credit card (or any unsecured credit facility such as a credit line) is determined by the bank issuing it, but ultimately, it is governed by the Monetary Authority of Singapore (MAS). So whatever credit limit the bank gives you, it has to comply with MAS guidelines. Depending on your age, your total credit limit (across all credit cards) must be within the following boundaries.
Up to 55 Years Old
Your credit limit is determined by your annual income (can be non-employment income, e.g. rental income). If your annual income is S$30,000 or below, your credit limit is capped at 2X your monthly income. If you earn S$30,000 to S$120,000 a year, your credit limit is up to 4X your monthly income. There is no regulation on your credit limit if you earn S$120,000 or more a year.
Above 55 Years Old
Income requirements are lower for those above 55, but you need have at least S$750,000 to S$2m in net personal assets (e.g. property, shares). Your credit limit is based on your annual income as well. For those earning up to S$15,000, your credit limit is up to S$2,500 only. If earning S$15,000 to S$30,000, your credit limit is 2X your monthly income. Only if you are earning S$30,000 to S$120,000, will you get 4X your monthly income as the credit limit.
Summary of MAS Credit Limits in Singapore (2025)
| Annual Income | Credit Limit (≤55 Years Old) | Credit Limit (>55 Years Old) |
|---|---|---|
| Annual Income≤S$15,000 | Credit Limit (≤55 Years Old)N/A (not eligible) | Credit Limit (>55 Years Old)S$2,500 |
| Annual IncomeS$15,000 to S$30,000 | Credit Limit (≤55 Years Old)(Min. S$30,000) 2X monthly income | Credit Limit (>55 Years Old)2X monthly income |
| Annual IncomeS$30,000 to S$120,000 | Credit Limit (≤55 Years Old)4X monthly income | Credit Limit (>55 Years Old)4X monthly income |
| Annual Income>S$120,000 | Credit Limit (≤55 Years Old)No regulatory limit | Credit Limit (>55 Years Old)No regulatory limit |
Why Is Your Credit Limit Lower Than the MAS Amount?
You might have done your calculations and realised that your credit card credit limit actually falls short of the MAS guideline. For example, if you earn S$3,000 a month, you would expect your credit limit to be S$12,000 - but it's actually S$10,000 instead. This is perfectly normal. The MAS guideline is an upper limit, not a minimum. Credit card providers can offer you any credit limit below the MAS guideline; in fact, they may offer a lower amount after analysing your credit history, existing debt, employment circumstances and so on. Consumers are also not obliged to take the highest possible credit limit, and can choose a lower credit limit if they want to avoid overspending.
How to Get a Credit Limit Increase? 3 Options to Try
Assuming that the credit limit on your favourite credit card is already at the regulatory limit, you might be wondering if there is any way to still increase your credit limit for a big purchase. Here are 3 credit limit increase methods you can try. Bear in mind that, since MAS regulations, there are, well, limits to how much of an increase you can get.
Option 1
Temporary Credit Limit Increase
Make an online request for a temporary credit card credit limit increase for travel, wedding, hospitalisation or compassionate purposes (be prepared with proof of your life circumstances!). You must pay off the bill before the credit limit increase expires, or you may get charged an overlimit fee.
Option 2
Request Credit Limit Review
To get a permanent credit limit increase, you will need to show that your income has gone up since the time you got the credit cards. You'll need to submit your latest income documents, e.g. payslips, CPF statement, or Income Tax Notice of Assessment.
Option 3
Make Advance Payment
Another way to increase your credit limit is by making advance payment on your credit card - check with your credit card provider on the procedure on this. This method makes sense if you have a have a large amount of cash but a small credit limit, and you need a temporary credit limit increase for a large purchase.
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Alternatively, Consider a Personal Loan Instead
If you need cash urgently to tide you through a rough time or an emergency, a credit limit increase may not be the best option. If you are not confident of repaying your bills on time, they may result in high-interest debt that is difficult to conquer. You may want to consider a personal loan instead, which have lower interest rates and more affordable instalment repayment plans. MoneySmart's personal loan calculator allows you to compare the different personal loan interest rates side by side.
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