Amazon pay ICICI card rejection reason

[cardy]

I have 3icici card and icici sb account.
772 cibil score.

What is the meaning of internal policies.

What do you guys think why my application got rejected ?

How can I know the exact reason.

Do you have any experience regarding this?

 

[cryoengine]

That's weird. Is your Amazon account and existing cc linked to the same mobile number? Did you apply using the existing icici credit card number? Did you take any CC from icici in the last 6 months?

 

[cardy]

That's weird. Is your Amazon account and existing cc linked to the same mobile number? Did you apply using the existing icici credit card number? Did you take any CC from icici in the last 6 months?

Yes
Yes
Yes coral rupay 2months ago

 

[cryoengine]

Yes coral rupay 2months ago

it was pre-approved and was given to everyone, I assume you got it the same way. Since you are on 6 months cooldown now anyway, I would try escalating through multiple layers of customer care and hope one of them will see the reason. Good luck

 

[Kumar93196]

I have 3icici card and icici sb account.
772 cibil score.

What is the meaning of internal policies.

What do you guys think why my application got rejected ?

How can I know the exact reason.

Do you have any experience regarding this?

Bre = bureau score. Its other than cibil score

 

[cardy]

it was pre-approved and was given to everyone, I assume you got it the same way. Since you are on 6 months cooldown now anyway, I would try escalating through multiple layers of customer care and hope one of them will see the reason. Good luck

Yes pre-approved.
And i am working on that
1st level complete with amzcc, custcare and social x

 

[cardy]

Bre = bureau score. Its other than cibil score

I don't think that
It's more like a status maybe

 

[BiggBoss]

Once rejected, we can apply only after six months. Mine is also rejected.

 

[akshayhs]

BRE = Bureau rejected

 

[gratian.m]

Please check in your all the credit reports where ICICI enquiry has appeared. (CIBIL, CRIF, Equifax & Experian). Check if you have any derogatory remarks in the reports where this enquiry is appearing.

 

[shake-all-Sphere]

Even though you have a good relationship with ICICI there are certain factors which can affect your application .Internal policies refer to the specific rules, guidelines, and criteria that a financial institution, such as ICICI in this case, uses internally to evaluate credit card applications. These policies can encompass various factors like credit score requirements, income thresholds, existing relationship with the bank, credit history, and more. They're typically established by the institution to manage risk and ensure responsible lending practices.
As for why your credit card application might have been rejected despite having an ICICI savings account and existing ICICI cards, several reasons could be at play:

1. Credit Score: While a 772 CIBIL score is generally considered good, other factors within your credit report could influence the decision. It might be worth checking your complete credit report for any discrepancies or negative factors that could have affected the decision.
2. Income or Financial Situation: Your income, existing debt, or other financial obligations might not meet ICICI's internal criteria for the specific card you applied for. The bank may have certain income requirements for different card tiers or features.
3. Credit Utilization: Even with a good credit score, if your existing ICICI cards have high balances relative to their limits (high credit utilization), it might raise concerns about your ability to manage additional credit.
4. Internal Risk Assessment: The bank might have an internal risk assessment model that considers various undisclosed factors when evaluating applications. These could range from industry-specific risk factors to changes in their lending strategies.
5. Application Frequency: Applying for multiple cards within a short period can sometimes raise concerns for lenders, as it might indicate a sudden need for credit or financial stress.

Understanding the specific reason for rejection can be challenging, as banks often don't provide detailed explanations. If possible, reaching out to ICICI's customer service or credit department might offer some insights. Additionally, taking a comprehensive look at your credit report and addressing any issues might improve your chances in the future.
I will tell you one more important thing, your bank account and credit card accounts have no connection whatsoever to ICICI. Speak to your RM or BM about it, they might help you with exact reason

 

[shake-all-Sphere]

And also one important thing with ICICI Bank there is no connection between ICICI Bank account and credit card account.

 

[Rohith-2009]

[*]Credit Utilization: Even with a good credit score, if your existing ICICI cards have high balances relative to their limits (high credit utilization), it might raise concerns about your ability to manage additional credit.


For this point, icici will not give additional limit generally. Only one shared limit.

 

[Riya]

I have 3icici card and icici sb account.
772 cibil score.

What is the meaning of internal policies.

What do you guys think why my application got rejected ?

How can I know the exact reason.

Do you have any experience regarding this?

That's strange because ICICI cardholders are almost certain for APay approval on the spot... Something wrong with your cibil or account maybe 🤔

 

[cardy]

That's strange because ICICI cardholders are almost certain for APay approval on the spot... Something wrong with your cibil or account maybe 🤔

My cibil is 772 and account is regular active account and 3yr old with no problem

 

[cardy]

Nothing derogatory marks. Clean history

Please check in your all the credit reports where ICICI enquiry has appeared. (CIBIL, CRIF, Equifax & Experian). Check if you have any derogatory remarks in the reports where this enquiry is appearing.

 

[Riya]

My cibil is 772 and account is regular active account and 3yr old with no problem

I had ICICI account for 15 years but I was also rejected twice... But as soon as got one base level card, my card was approved instantly

 

[cardy]

Even though you have a good relationship with ICICI there are certain factors which can affect your application .Internal policies refer to the specific rules, guidelines, and criteria that a financial institution, such as ICICI in this case, uses internally to evaluate credit card applications. These policies can encompass various factors like credit score requirements, income thresholds, existing relationship with the bank, credit history, and more. They're typically established by the institution to manage risk and ensure responsible lending practices.
As for why your credit card application might have been rejected despite having an ICICI savings account and existing ICICI cards, several reasons could be at play:

1. Credit Score: While a 772 CIBIL score is generally considered good, other factors within your credit report could influence the decision. It might be worth checking your complete credit report for any discrepancies or negative factors that could have affected the decision.
2. Income or Financial Situation: Your income, existing debt, or other financial obligations might not meet ICICI's internal criteria for the specific card you applied for. The bank may have certain income requirements for different card tiers or features.
3. Credit Utilization: Even with a good credit score, if your existing ICICI cards have high balances relative to their limits (high credit utilization), it might raise concerns about your ability to manage additional credit.
4. Internal Risk Assessment: The bank might have an internal risk assessment model that considers various undisclosed factors when evaluating applications. These could range from industry-specific risk factors to changes in their lending strategies.
5. Application Frequency: Applying for multiple cards within a short period can sometimes raise concerns for lenders, as it might indicate a sudden need for credit or financial stress.

Understanding the specific reason for rejection can be challenging, as banks often don't provide detailed explanations. If possible, reaching out to ICICI's customer service or credit department might offer some insights. Additionally, taking a comprehensive look at your credit report and addressing any issues might improve your chances in the future.
I will tell you one more important thing, your bank account and credit card accounts have no connection whatsoever to ICICI. Speak to your RM or BM about it, they might help you with exact reason

Thanks for such an elaborated and informational reply. I understand the points. I have eye on my credit report every month.

Rm is not able to provide exact reason.

But in my understanding may be a reason that recently I have taken another ICICI credit card and then applied apay within a month of getting the card.

Somewhere may be i have seen that icici doesn't approve two applications within three months. I am telling about two user initiated application here. Not pre approved or customer care option.

 

[cardy]

[*]Credit Utilization: Even with a good credit score, if your existing ICICI cards have high balances relative to their limits (high credit utilization), it might raise concerns about your ability to manage additional credit.


For this point, icici will not give additional limit generally. Only one shared limit.

Utilisation at that time was only 4% overall
But icici utilisation was nearly 15%