Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
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    We found 56 Check Reasons for Credit Card Rejection
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    Credit Card BYTES FROM OUR KITCHEN

    As plastic money becomes more prevalent, applications for credit cards have also been steadily rising. Higher disposable incomes and changing economic trends have also been contributors to the rise in the use of credit cards. There are credit cards to suit every need, business cards to cash back ones, shopping to entertainment. And while banks might be lining up to offer customers credit cards, there could be times when your application for a new credit card might not be approved.

    A Few Common Reason Why A Credit Card Application Could Be Rejected Are Listed Below:

    Low Income:

    A bank or financial institution is usually more than happy to extend lines of credit to customers since this means they have another source of income courtesy the many charges associated with a credit card. Banks also earn through interest charges if the cardholder fails to pay off the whole amount due at the end of each billing cycle. In spite of this, most banks will exercise some caution before issuing a card to an applicant with a low income and a poor employment record as the bank cannot guarantee the cardholder will be able to pay off the debt accrued on the card.

    To avoid this being a reason behind the bank’s rejection of a credit card application, it is advisable to check if you as an applicant meet the eligibility criteria set for a particular card. This is especially true since banks usually require the applicant to submit supporting documents such as salary slips, Form 16 as well as tax returns.

    Bad Credit Score:

    Having a poor credit score is the more common reason a credit card application is rejected. A credit score determines your creditworthiness to lenders, and also measures your ability and history of repayments. Having a poor or low credit score effectively indicates that you as an applicant are unable or inefficient at managing your money and assets. This in turn makes lenders wary of issuing credit to you, as there is a possibility of defaulting on the amount.

    Credit scores are determined by credit bureaus such as Experian and CIBIL. Having a low CIBIL score would directly affect your chances of getting a credit card application approved.

    Some of the main reasons a credit score could be low are mentioned below:

    • Taking out loans with multiple lenders.
    • Not paying EMI’s on time.
    • Defaulting on loan payments.
    • Applying for a credit card with multiple lenders.

    Not having a loan history or a credit history also negatively affects your chances of getting your application approved, as the bank has no previous history on which to measure your creditworthiness.

    Errors in the Application Form:

    While this might seem very trivial, making a mistake in the credit card application form could result in the rejection of the application. AN incorrectly filled in application form or multiple errors in the form has resulted in applicants losing out on acquiring a credit card. Failure to mention certain details (omission of facts) are also grounds for rejection, as banks have access to your credit history as well as your previous financial records. To avoid your application being rejected due to such a reason, it is advisable to apply online and review all information as presented on the screen. In this way you will avoid forgetting to enter some information.

    Owning Multiple Cards:

    Applicants who already have multiple credit cards issued in their name could find it more difficult to get approval for a fresh credit card. This is because all lenders verify an applicant’s reliability by looking at the debt-to-income ratio. This ratio measures the outflow of income to card repayments made. If the outflow is very high, the lender could choose to deny the application since the applicant is already spending a large portion of his/her income on repaying existing credit card. This would in turn make it difficult for the applicant to pay off another credit card, inviting the possibility of a future payment default.

    Choosing to transfer a credit balance from one card to another to avoid hefty interest fees also shows the applicant in poor light as it indicates poor judgement and an inability to maintain credit and payments.

    Occupation:

    The applicant’s occupation is another factor that could impact his/her credit application. Work history as well as choice of profession play a role in determining whether an application will be cleared or rejected. Having a job that does not have a steady source of income would work against the applicant. The place of work and organisation are also taken into account as the applicant’s repayment history is evaluated based on this. Working in reputed companies and showing a steady work history would significantly help ensure a credit card application is not rejected due to occupation.

    Address Verification:

    Address verification is a compulsory part of the check a bank is obliged to do before issuing a credit card to an applicant. The address provided in the application form is verified routinely, and in case of multiple addresses being submitted, each of these addresses are verified. It is essential that the applicant provide accurate addresses and information on their place of work and residence to ensure the approval of an application. A discrepancy in the address details is grounds for automatic rejection of an application, and thus applicants should ensure their address and the proof submitted are adequate and accurate.

    How To Ensure Credit Card Application Approval

    Applicants seeking to avoid having their credit card application declined can refer to the below points:

    • Ensure all outstanding amounts such as bills and loan payments are paid off in full and on time.
    • Avoid spending too much on a card, especially a new card since it shows a desperation for credit.
    • Always provide accurate documentation when it comes to identity or address proof. Talk to the bank if there is a problem with the same so they are aware of a possible discrepancy and the reason for it.

    By keeping the above points in mind, applicants can avoid the pitfall of having their application rejected.

    Poor credit history:

    If the applicant has not been paying their loan repayment instalments or their other credit card bills on time, the bank becomes reluctant in approving their application for a new credit card. Hence, it is advised to keep one’s credit score healthy by making payments on time and by being a defaulter, to make credit card application approval more likely.

    Too much outstanding:

    If the applicant owns other credit cards and have not made regular payments towards them, the bank is more likely to not approve their credit card application. Banks want to see that the applicant uses only a small portion of their credit limit that is available to them. In case they are using too much of their credit limit, the bank will deny them a new credit card.

    Insufficient income

    : Apart from the credit history of the applicant, their annual income also plays a significant role in procuring a credit card. While each credit card has an income eligibility criteria, it is important to meet the same in order to get your credit card application approved by the bank.

    Long-pending charge off:

    If the applicant has an outstanding that is more than six months’ old, banks are more likely to reject their application. A long-pending outstanding also weakens the applicant's credit history which has adverse effects on every kind of loan application.

    Age of the applicant:

    A major share of the banks in India pay attention to the age of the applicant. If the age of the applicant is less than 18 years, banks do not prefer to approve their credit card application. At the most, the banks will offer them a supplementary credit card to help them take care of their credit-related needs.   

    Check Reasons for Credit Card Rejection Reviews

    • ICICI Bank Credit Card
      "Never understand the value of the customers"
      0.5 1.0/5 "Really Bad"
      I purchased the ICICI credit card 4 months before . I have huge transaction in ICICI salary account , but even though they provided me a credit limit of 25 k only . I am highly disappointed with the ICICI service . Never understand the value of the customers and customers requirements .
      Was this review helpful? 0
      , gulbarga
      Reviewed on Mar 21, 2019
    • SBI Cards Credit Card
      "Recently Purchased credit card"
      0.5 4.0/5 "Great!"
      Recently I applied for this SBI credit card through Executive . I find a good support from that executive by taking care of all the requirements till the delivery of my credit card . SBI provided me a credit limit of more than 50 k and Annual fees is around 500 /- .
      Was this review helpful? 0
      , gulbarga
      Reviewed on Mar 21, 2019
    • HDFC Bank Credit Card
      "Very good credit card for other bank users"
      0.5 5.0/5 "Blown Away!"
      I always prefer HDFC service is very satisfactory service . For the last two years , I am using this HDFC credit card . I don't experience any negative things . Very good credit card for on-line shopping with some discount around 5-10 % . With a good credit limit of more than 50 k .
      Was this review helpful? 0
      , gulbarga
      Reviewed on Mar 21, 2019
    • SBI Cards Credit Card
      "Good. Can be more clear in details"
      0.5 3.0/5 "Satisfactory"
      SBI is good in the overall experience for the credit card. They are good in their offers and also in the credit limit. They have good emi options and there are good deals on the e commerce websites. The only thing which is not satisfactory is when I visit big stores like Big Bazaar for example. There are executives of this bank who would offer a credit card. If I am to tell them that I already have one, they would say that I could get a new card with a higher limit. My current limit is 70K and I would get 5 lakhs on the new card. Finally I would get a call from the bank who is willing to give me a new card with a bifurcated limit of 50k, where I would have 25K on each card. I refused as it is not useful to me.
      Was this review helpful? 0
      , kannur
      Reviewed on Mar 21, 2019
    • SBI Cards Credit Card
      "Very Good Service"
      0.5 3.0/5 "Satisfactory"
      It has been three years since i am using this credit card, there is some annual charges of 500 with this card. The credit limit with the card has been less and there has not been any benefits in using this card. I had not been using this card much and just for some purchases has been using.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Mar 21, 2019
    • HDFC Bank Credit Card
      "Very Good Service"
      0.5 3.0/5 "Satisfactory"
      I have been using this credit card for the last couple of years, the services with them was good. I am satisfied with the credit limit with this card and there is an annual charges of 500 with this card as well. I have been using the card for all sort of purchases.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Mar 21, 2019
    • Kotak Credit Card
      "Very Good Service"
      0.5 3.0/5 "Satisfactory"
      I am using this credit card for the last three years where i am quite satisfied with the services of them. There has been a good credit limit with this card and it has an annual charges of 500 as well. There has been offers with the card on cash backs and reward points.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Mar 21, 2019
    • HDFC Bank Credit Card
      "Good credit card"
      0.5 5.0/5 "Blown Away!"
      Hdfc taken one week of time to approve my credit card,they quickly dispatched the card. Initially they declined the card then I raised the request, they approved it on next day. The service is good they responding to the customer in professional manner. Initially I paid the amount of Rs. 1800 hence it became life time free credit card.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 21, 2019
    • Kotak Credit Card
      "Average"
      0.5 4.0/5 "Great!"
      I use Kotak Mahindra Bank credit card and my experience was average. The helpline number was not useful and they need to improve the customer service. They don't charge annual fee, If I spend certain limit in a year. The credit limit was sufficient. I have not used the Flexi option so don't know the charges.
      Was this review helpful? 0
      , thane
      Reviewed on Mar 21, 2019
    • HDFC Bank Credit Card
      "Average Service"
      0.5 2.5/5 "Just OK"
      I had been using this credit card for the last two years and the services which they had been providing so far has been pretty good. But they had been making many hidden charges and there was not much offers other than the reward points. The credit limit with the card is good.
      Was this review helpful? 0
      , mumbai
      Reviewed on Mar 21, 2019
    • SBI Cards Credit Card
      "Average"
      0.5 4.0/5 "Great!"
      I got this credit for making my essential needs and is very useful for me.It is best card for doing shopping and there is no annual fee charges as well.I am using this often.
      Was this review helpful? 0
      , new delhi
      Reviewed on Mar 21, 2019
    • SBI Cards Credit Card
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I am using this credit card just for the last six months and the services with them was good so far. I am satisfied with the credit limit with this card and there has also been some better offers with this card on reward points. I am happy with the credit limit with this card as well.
      Was this review helpful? 0
      , new delhi
      Reviewed on Mar 21, 2019
    • RBL Bank Credit Card
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I am using this credit card for the last one and a half years where i am satisfied with the services which they had provided so far. They had given me with a good credit limit and there has not been any annual charges with this card as well. I had been getting some good benefits in using this card as well.
      Was this review helpful? 0
      , new delhi
      Reviewed on Mar 21, 2019
    • RBL Bank Credit Card
      "Experience is good"
      0.5 5.0/5 "Blown Away!"
      I also bank with Ratnakar Bank for the credit card. The customer support is good and they also have a good online banking system. I can check the status of the EMI conversion and I can also login with ease. There are good offers and the credit limit is fine.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Mar 21, 2019
    • HDFC Bank Credit Card
      "Good. Online banking needs to be user friendly"
      0.5 4.0/5 "Great!"
      HDFC Bank has offered me a credit card which has a annual fee of Rs.500. The credit limit is good. I am also fine with the customer services and response too. The online banking is not user friendly, it is very complicated to login and to also convert the emi is not that easy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Mar 21, 2019
    • SBI Cards Credit Card
      "Average performance credit card"
      0.5 3.0/5 "Satisfactory"
      While purchasing this SBI Platinum credit card , i got more vouchers during that time . They sold this credit card without proper information .making the credit call bill payment in SBI is very difficult process . This card is not at all applicable for my usage . I thought of blocking this credit card after that i changed my mind .
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 21, 2019
    • HDFC Bank Credit Card
      "Need more offers in the future"
      0.5 4.0/5 "Great!"
      I am using the HDFC national card . On initial days, i wont receive much notifications through Email . Impossible to get he Credit card statement also . HDFC taken some time to respond my all these request. HDFC Services wise I am okay .I dint find any hidden charges in HDFC till now .
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 21, 2019
    • SBI Cards Credit Card
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I have taken a credit card with State Bank of India. It is a good experience as I can redeem the points with ease. The credit limit is also good and there are no hassles. The statements are clear and sent to me on time. The customer support and response is good.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Mar 21, 2019
    • Bank Bazaar Credit Card
      "More than satisfactory"
      0.5 5.0/5 "Blown Away!"
      Bankbazaar is really good as the portal helps me to track my credit score and also check the banks offers and deals and compare the various options. The team was on time to contact me and inform me the details. They also followed up in the process too.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Mar 21, 2019
    • Citibank Credit Card
      "Good. Can reduce the annual fee"
      0.5 4.5/5 "Excellent!"
      Citibank has been good till date and on time for me to get the credit card. The credit limit is also good. I expected more though. There are annual charges of 1K for the card which gets waived off if I use the card for 30K in the first month or within two months. It is a Indian oil card and since I did not need it as I would not use it much for fuel so I asked for a rewards card, but in between the conversation I got a message that it is already dispatched and would be delivered the same day. So I could not do anything about it.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Mar 21, 2019
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