Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
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  • Reasons why your Credit Card Application Can be Rejected Reviews

    • HDFC Bank Credit Card
      "Good to Hold"
      0.5 5.0/5 "Blown Away!"
      I am holding Titanium visa from HDFC, its a life time free credit card, I am holding it for seven years. HDFC won't charge anything extra, I never face any issue with that. I really appreciate about the billing part. Offers are same like other bank.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 28, 2017
    • ICICI Bank Credit Card
      "Interest rate should be nominal"
      0.5 5.0/5 "Blown Away!"
      Recently I done balance transfer from ICICI to HDFC because ICICI offered me 14% of interest on personal loan hence I switch over to HDFC for the interest rate of 12% it was low. I have paid the entire amount with 5% of interest on outstanding amount.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 28, 2017
    • Axis Bank Credit Card
      "Need Improvement with the customer service"
      0.5 3.0/5 "Satisfactory"
      I tried reaching axis bank customer service but I can't reach them ever. The credit limit with this axis card need to be increased. The rate of interest is nominal with axis. The axis bank executive told its not possible to increase the credit limit because what I was having is a basic card with Axis bank. Even I have applied for the another card but there was no response from them.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 28, 2017
    • HDFC Bank Credit Card
      "Its Good"
      0.5 5.0/5 "Blown Away!"
      For past one year I have been using HDFC Money back credit card, It has good cash back. For all kind of shopping HDFC is providing good cash back offers. I am pretty much happy about that. I used to get good notification and reminder call from HDFC on time.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 28, 2017
    • SBI Cards Credit Card
      "Very good card"
      0.5 4.0/5 "Great!"
      I have applied for the Simply save card with SBI. The Sbi executive came to my place and collected all the documents to process for the credit card. They have explained me about the card. I have reward point, cash back offers and other facilities with this card. I would say, It is very good card to use because many of the customers are using it and the credit limit also high when compared with other bank card. The interest rate is high when compared with other bank cards.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 28, 2017
    • HDFC Bank Credit Card
      "Average card to use"
      0.5 5.0/5 "Blown Away!"
      I am using HDFC bank money back credit card for past 4 months. This card has the reward point, cash back offers, the fuel surcharge waiver. I am happy about the credit limit. The rate of interest is low when compared with others. The credit limit can be increased in future. I am happy using this Hdfc bank card.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 28, 2017
    • HDFC Bank Credit Card
      "Communication and Service part needs to be improved"
      0.5 1.0/5 "Really Bad"
      I was holding a HDFC credit card earlier later due to certain issues I had closed it. Without any intimation HDFC charged some credit card fee and I am holding salary account with same HDFC, hence they deducted Rs.40,000 from my account. I tried to inquire about the credit card charges and their customer service, But their response was very bad and they were very rude to me. Hence I closed all my accounts that I had with HDFC.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 28, 2017
    • ICICI Bank Credit Card
      "Better credit card"
      0.5 4.0/5 "Great!"
      I am using ICICI coral card, it has good reward points. In HP bunk petrol filling they used to get 2 points and for every 100 spent I am getting 1 point, still now I haven't redeem anything. ICICI offered the credit limit around Rs.40,000 its fine for my basic needs.
      Was this review helpful? 0
      , erode
      Reviewed on Jun 28, 2017
    • HSBC Bank Credit Card
      "Unprofessional"
      0.5 4.0/5 "Great!"
      Interaction with the HSBC executive was not satisfactory. The executive was not professional. Not informative. The executive was willing to convince the customer. The executive was well trained and reluctant to provide required information. The executive was only concerned about documents.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jun 28, 2017
    • Bank Bazaar Customer Support
      "World Best Opportunity Easy To Apply N Easy To Use Go Head.."
      0.5 5.0/5 "Blown Away!"
      Thank you bank bazaar you providing a best opportunity.Its Very Easy To Apply N Very Important Things Is Time Saving.Thanks for giving free registration and not cutting any amount for first year.. Giving more cash back and rewards.. Thanks to bankbazar... Really great.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 28, 2017
    • Bank Bazaar Customer Support
      "Credit card application"
      0.5 4.5/5 "Excellent!"
      Credit card application make easy with exciting gift coupon other than applying it from out side vendor. You can upload all documents online too. It will not take more than 5 minutes from your schedule. Thank you Bank Bazaar team to fulfill my banking needs
      Was this review helpful? 0
      , kolkata
      Reviewed on Jun 28, 2017
    • HDFC Bank Credit Card
      "Good to use"
      0.5 4.0/5 "Great!"
      I do have HDFC credit card but I use very rarely, because I had an experience. I tried to pay the hospital bill by HDFC credit card but the machine was accepted my credit card then paid through my debit card, I use 99% only debit card. I am holding HDFC diner club card its a life time free credit card.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 28, 2017
    • Bank Bazaar Customer Support
      "CREDIT CARD"
      0.5 5.0/5 "Blown Away!"
      THIS IS ONE OF THE MOST COMFORTABLE SITE AND VERY FRIENDLY SITE TO UPDATE ONLINE FOR THE CREDIT CARD AND HELPED ME OUT AND GIVEN SUITABLE CREDIT CARD DEPENDS ON OUR ELIGIBLITY. AND MY ADVICE TO YOU ALL IS, TO USE ONLY BANK BAZAAR .COM FOR ANY FINANCIAL NEEDS.
      Was this review helpful? 1
      , secunderabad
      Reviewed on Jun 28, 2017
    • Bank Bazaar Customer Support
      "Good service"
      0.5 5.0/5 "Blown Away!"
      On the website itself, I have completed all the formalities easily like adhaar card details company details etc. They all require information for a basic application without wasting time and once again thanks to Bank bazaar. com. Thanks & regards Haroon Rasheed Hyderabad
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 28, 2017
    • Bank Bazaar Customer Support
      "Excellent service by bankbazaar.com"
      0.5 5.0/5 "Blown Away!"
      User friendly excellent service from Bank bazar.com This is the only website which will assist you the best by giving the product information Bank credit cards packages my mails messages phone calls and the response from bankbazaar it's excellent. Bankbazaar.com which is helping to get our needs in limited time with best offers this website is helpful for the public. So thank you for giving me the best support from customer service care.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 27, 2017
    • HDFC Bank Credit Card
      "Better service for customer"
      0.5 4.0/5 "Great!"
      HDFC is good they not adding any over limit charges, I am using jet privilege card. I could redeem the reward points only for the flight ticket bookings. HDFC bill are clear, they updated everything on time an every month they gives gentle reminder and proper updates about the offers.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 27, 2017
    • SBI Cards Credit Card
      "Looking for better feature"
      0.5 2.5/5 "Just OK"
      SBI taking too many charges for the credit card, example If I have a credit limit of Rs.50, if I use upto Rs. 49,000. SBI taking some over limit charges. Many times I raised the complain to waiver off the charges its very bad. Points are good in SBI for the transaction, for every spent of 100 points, I would be getting two points.
      Was this review helpful? 1
      , chennai
      Reviewed on Jun 27, 2017
    • HDFC Bank Credit Card
      "Better card to use"
      0.5 4.0/5 "Great!"
      I haven't used HDFC bank diners club card much. The reward points cash back offers are available in this card but I haven't used it. I am happy with the credit limit. The rate of interest is nominal with this credit card. The service which I get on my credit card is really great. I was holding this card for the past 5 years.
      Was this review helpful? 1
      , madurai
      Reviewed on Jun 27, 2017
    • HDFC Bank Credit Card
      "Very good card to use"
      0.5 5.0/5 "Blown Away!"
      The HDFC bank money back is really good to use, because it has so much of offers with it, like cash back offers, reward points and etc the reward points can be redeemed as cash. I am happy with the HDFC bank money back credit limit. The rate of interest is nominal with HDFC bank card. I am satisfied using HDFC bank card.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 27, 2017
    • Axis Bank Credit Card
      "Very good card to use"
      0.5 4.0/5 "Great!"
      I am holding this axis bank credit card for past 5 years. I am happy about the credit limit. The rate of interest is nominal with axis, when compared with others. The customer service and the response part is good with axis bank. I am a happy customer to axis bank.
      Was this review helpful? 0
      , kakinada
      Reviewed on Jun 27, 2017
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    Reasons why your Credit Card Application Can be Rejected is Rated as "Excellent!" by 35853 Users

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    Credit Card BYTES FROM OUR KITCHEN

    With the multiple options available in the Indian financial market today, it is very easy to apply for a credit card. You can apply online for a credit card from the convenience of your home or office. There are also pre-approved credit card options available to customers.

    However, even if it is a pre-approved credit card or not, the lender undertakes a certain approval process before issuing a credit card to the applicant. Every lender takes various factors into account before deciding whether to accept or reject a credit card application.

    Here are 6 reasons why your credit card application could be rejected by a lender:

    Bad credit score:

    Most lenders reject credit card applications if the applicant has bad credit scores. Credit score is one of them most important factors behind the acceptance or rejection of credit cards as well as other loans. Most institutions have a standard credit score rate for considering the creditworthiness of the customer, i.e., whether he/she is reliable in terms of repayment of the credit availed from them.

    Usually, a good credit score or CIBIL score would be 750+. The CIBIL score will be negatively affected if:

    • You have loans with multiple lenders
    • You have applied for a credit card with various lenders
    • You have not paid your EMIs on time
    • You have defaulted on repayment of previous loans

    If you do not have a loan history, this also affects the credit card application since there is no track records to evaluate your creditworthiness.

    Low income:

    There are various lenders who are readily available to provide credit cards to eligible customers, that too with higher credit limits. However, it is very important that your repayment capacity is satisfactory and your income backs up your claim. The income eligibility criteria has to be met and the applicant also has to submit income documents such as Form 16, Salary Slips, Income Tax Returns, etc., at the time of application. Your application will be rejected if you do not meet the income requirements specified by the lender.

    Occupation:

    Occupation is another important factor considered by the credit card companies while issuing a credit card. Some credit card applications may be rejected due to the employment of the applicant, even if they fulfill the minimum criteria required. Reputation of the company is a factor considered while evaluating the repayment capacity of an applicant. An unstable work history also would affect the approval of your credit card application negatively.

    Mistakes in the application form:

    Even though this might seem like a minor issue, making mistakes on the application form can end up in a credit card application getting rejected. Many applicants make this error while filling the application form such as - missing crucial information, entering wrong details, etc. This is why it is better to apply online for a credit card since online credit card applications prompt the applicant to fill any mandatory field that has been omitted.

    Owning multiple cards:

    If an individual has several credit cards in his/her name, then the chances that his/her credit application being declined is high. All lenders consider applicants to be reliable only if they have a good debt-to-income ratio. If the income outflow is high due to having multiple credit cards, then the lender will not be convinced of the creditworthiness of the borrower. Lenders do not prefer borrowers who frequently transfer the balance on their credit cards or change cards frequently.

    Location verification:

    Almost all lenders make a physical verification of the applicant and his/her address - both residential and official. Hence it is important that when the representatives of the company visit the location to verify their home and office address nothing goes wrong. It is very important that the address you have specified in the credit card application is accurate.

    Thus, these reasons can attribute to the rejection of your credit card applications. Lenders do not necessarily disclose the reason behind rejecting a credit card application. Other than these specific reasons, an applicant should also note the terms and conditions laid down by the credit card issuer before applying for a credit card.

    How to Ensure the Approval of Your Credit Card Application:

    If your CIBIL Score is poor then you should make sure that you pay all your dues in a timely manner, keep good balance on your credit card and limit new applications for other cards, in order to secure a better decision with regard to your credit card application.

    While submitting your income eligibility details also include the income you receive from other sources since this will increase your chances of approval of the credit card application.

    Another measure would be to get a secured credit card. In order to get a secured credit card, you will have to open a fixed deposit account with the Bank of your choice and this makes sure that the repayment on the credit extended will be guaranteed. Secured credit cards are similar to unsecured credit cards and with a secured card, you can improve your credit score gradually. By paying the dues on time, you can build your CIBIL score and upgrade to an unsecured credit card soon.

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