Changes you’ll see with the new Elevate Credit Line:
An Elevate Account will be required to utilize the credit line.
First, you will have to draw down the funds into your Elevate Account. This can be done at any time, up to the available approved credit limit.
Secondly, you now have two options to use the funds: initiate a bank transfer or make a debit card transaction with Elevate Debit Card*. This gives you more payment method flexibility.
The new credit line limit will be capped at S$20,000. If your outstanding amount is more than S$20,000, you will not be able to utilize the credit line until you’ve made the necessary repayment.
We are temporarily suspending the ability to issue sub-cards. However, we are working hard to reinstate this feature within Elevate Debit Card in the near future.
Rollover interest fee rate will increase from 2% to 2.5% per month due to macroeconomic conditions and the rise of funding costs. Nonetheless, If you pay your outstanding balance on time, no interest fees will apply