Yes, you can potentially re-loan in GLoan after paying off your previous loan in the Philippines. However, repaying your loan doesn’t guarantee immediate approval for another one.
How to Reloan for GLoan after Repayment:
- Full Repayment: Make sure you’ve completely paid off your previous GLoan on time. Positive repayment history is crucial.
- Check Your Eligibility: Open your GCash app and head to the GLoan section. If you’re eligible for another loan, you’ll see an available loan offer.
- Apply: If you see an offer, go ahead and apply. The approval process is usually quick.
Factors Affecting Reapplication Success:
- GCash Score: A high GCash score, achieved through frequent GCash use (paying bills, sending money, using other services), increases your chances of approval and may lead to a higher loan offer.
- Repayment History: Paying your previous GLoan on time reflects positively on your creditworthiness.
- GCash Activity: The more you use GCash for various transactions, the better your chances of getting approved for another GLoan.
Important Notes:
- GLoan approval is not guaranteed, even if you’ve paid off a previous loan. GCash evaluates your eligibility each time.
- You can only have one active GLoan at a time.
- To learn more, visit the GCash Help Center on GLoan: https://help.gcash.com/hc/en-us/articles/900005986946-GLoan-Overview
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