GCredit is one of the newest features of the GCash App. With GCredit, you have your own personal revolving credit line which you can use any time you want!
WHAT IS GCREDIT?
GCredit functions like a flexible loan or credit card. You get a set limit of money you can avail whenever you want. If you pay off your previous availments, you can use your maximum limit again.
For example, I have a GCredit limit of P2,000. I can avail P2,000 whenever I want. I bought an outfit worth P1,500. Now I can only avail P500 since P2,000 is my maximum limit.
However, if I pay P1,500 of my GCredit balance, I can then again avail P2,000 whenever I want.
WHAT CAN I USE GCREDIT FOR?
You can use GCredit to shop at our QR partner merchants or pay your bills! Just use Pay QR or Pay Bills as usual, and then select GCredit as your preferred payment option.
HOW DO I GET ACCESS TO GCREDIT?
GCredit is closely linked to GScore, which is the first trust score in the Philippines. Each GCash user has a GScore, which increases or decreases based on his GCash activity.
If you use more services frequently and transact with higher amounts, your GScore will increase. A higher GScore means access to GCredit and higher credit limits.
HOW DO I COMPUTE FOR INTEREST?
The interest rate of GCredit is 5%. However, interest is prorated, meaning it’s spread over the number of days you availed of GCredit.
For example, you paid for a P200 meal with GCredit and pay for it after 5 days. Interest is computed as:
P200 x 5% x 5/30 = P1.67
To settle your GCredit balance, you will only pay P201.67.
Get your GCredit access now! Just download the GCash App, select Manage Credit, and apply for GCredit today.