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Axis Bank Credit Card Rejected Every time

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BucksBunny

BucksBunny

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Axis Priority account holder
My CIBIL is 799
Experian is 857
ITR's above 18 lakh
HDFC Infinia with 15 lakh limit
SBI Aurum with 5 lakh limit
Amex Travel Plat card with 6.20 lakh limit
ICICI gave 4 credit cards as I hold Corporate account with them
ICICI Business, ICICI Amazon, ICICI Coral Rupay and ICICI Plat all are LTF.

No late payment, 13 year old credit history, not single delayed payment till date. Excellent credit and financial standings.

Axis rejected my Magnus card trice, Samsung Axis, Select, Privilege (They give complementary to Priority account holder), Flipkart and Reserve application mostly filed by Branch person. All of them got rejected. I see Neo, Myzone etc LTF card offers but Its showing my existing application status pending. Written email to Nodal but no help they keep saying internal policy. Branch person have no idea about. Even they did not approved my complementary Privilege credit card with Priority account.

I am Axis Priority account holder with balance around 3-5 lakh maintained. Shall I keep account open or close all relations with them?

Any possible help?

Thanks in Advance!
 
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ray8285 said:
50L + 70L = exposure of 1.2 CR (unsecure + secure) against an ITR of ~18L. Even for a secured (auto / home) loan most banks give a credit exposure of X4 of your ITR, your way over leveraged.
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CARDBITRAGE said:
Not the mention the bank tracing the individual's profile to find out that they have a sizable amount of unsecured credit and are already servicing a huge loan in contrast to their annual income.
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Once again, I had mentioned this exact thing in my previous post just above yours, you can have a read 🙂
 
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ray8285 said:
Once again, I had mentioned this exact thing in my previous post just above yours, you can have a read 🙂
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Thank you for pointing that out. 🙂
Just so you know, we were always in consensus, except for the part about applying again after so many rejections. Plus, if you read what I posted earlier, I asked the OP to reconsider getting any of the Axis cards post the recent devaluations, as his current set of cards should more than suffice to reap good benefits.
 
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CARDBITRAGE said:
Just so you know, we were always in consensus,
Click to expand...
🙂🙂

CARDBITRAGE said:
applying again after so many rejections. Plus, if you read what I posted earlier, I asked the OP to reconsider getting any of the Axis cards post the recent devaluations
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Well from what I read every where, people for some reason are obsessed with axis cards even after the current set of devaluations & with excellent card portfolio.

Seems a classic case of suitors chasing damsels I guess 🤣🤣 a game which axis is playing well ! Majority seemed to have been rejected multiple times by axis before being accepted.
 
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1RC said:
This post is a good example of leverage beyond means.

Meaning your line of credit (exposure to debt) is higher than your income. From an ITR of 18L, I can infer that your monthly in hand will be somewhere close to ~INR1.2L, which is decent. Unfortunately, your income isn't justifying the additional burden of unsecured loan.

Your current total unsecured exposure (without accounting for the limits on ICICI cards) is 15+5+6.2 = 26.2L (1.4x of your ITR; or ~20x of your monthly salary).

Since you have HDFC Infinia, I am assuming that this was applied via C2C method given your annual income (ITR / Salary) isn't meeting HDFC's minimum income criteria for Infinia. This means, one of your ICICI card maybe closer to 10-15L as well. So that makes 15+15+5+6.2 = INR41.2L exposure (~2.2x of ITR and ~40x of monthly income).

In my opinion, Axis maybe seeing this as an issue and hence the decline. Having a Axis Priority account makes no difference. Your salary is clearly not with them. So they don't see a clear cash flow with you as a customer.

My proposal to you:
Cut some of your ICICI cards. Cool off for 6 months and then apply for Axis Bank CCs. Banks usually purge prior online applications with in 3-6 months.

Hope this helps.
1RC.
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My CC total limit is around 45 with 10 cards and in hand monthly income is not even 1 lakh till now. But never have I faced any rejection till date
 
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1RC said:
This post is a good example of leverage beyond means.

Meaning your line of credit (exposure to debt) is higher than your income. From an ITR of 18L, I can infer that your monthly in hand will be somewhere close to ~INR1.2L, which is decent. Unfortunately, your income isn't justifying the additional burden of unsecured loan.

Your current total unsecured exposure (without accounting for the limits on ICICI cards) is 15+5+6.2 = 26.2L (1.4x of your ITR; or ~20x of your monthly salary).

Since you have HDFC Infinia, I am assuming that this was applied via C2C method given your annual income (ITR / Salary) isn't meeting HDFC's minimum income criteria for Infinia. This means, one of your ICICI card maybe closer to 10-15L as well. So that makes 15+15+5+6.2 = INR41.2L exposure (~2.2x of ITR and ~40x of monthly income).

In my opinion, Axis maybe seeing this as an issue and hence the decline. Having a Axis Priority account makes no difference. Your salary is clearly not with them. So they don't see a clear cash flow with you as a customer.

My proposal to you:
Cut some of your ICICI cards. Cool off for 6 months and then apply for Axis Bank CCs. Banks usually purge prior online applications with in 3-6 months.

Hope this helps.
1RC.
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Hello everyone,

First of all I appreciate all the feedback and thoughts from you end. I have stopped applying for Axis now and I just tried to find out reason behind rejection through bank person and he says that since I work on remote job and working from home and do not have physical office here in India, I apply as self employed where my Home and Office address is same as on GST certificate also. So he said since residential and office address is same and their verification team did not see office setup at specified address in application, they rejecting my application.

So seems like this is issue with address as Axis bank credit card guy told me this. Let me know your thoughts about it.

Thanks and Regards,
Chandrashekhar B.
 
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BucksBunny88888888 said:
Yes, I don't really need larger limit now. I will only use card for offers. Getting it approved is okay. I didn't see Magnus under offer tab while applying.
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Yeah select has been pretty good for me. I never miss Bigbasket offer and Swiggy offer. and almost 90% of offline spends give me 2x points(Retail)

And just an FYI you'll need 2L limit on your existing axis card for Magnus to be pre approved
 
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gg123 said:
Yeah select has been pretty good for me. I never miss Bigbasket offer and Swiggy offer. and almost 90% of offline spends give me 2x points(Retail)

And just an FYI you'll need 2L limit on your existing axis card for Magnus to be pre approved
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Let's see I don't see point in getting Magnus for now as I already holding HDFC Infinia, Aurum and Amex Plat which is my primary card. I am collecting HDFC Infinia points to get next iPhone Pro Max for free.
 
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BucksBunny88888888 said:
No, I just saw pre approved offer and I chose Select out of it. No personal application, No KYC, No details asked. Yesterday I applied and today I see card added into my net banking and being shipped.
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So, you have an existing banking relationship with Axis .. Salary account is it ? Also, were you maintaining a high balance to get this pre approved ?

I've had their burgundy savings & even my current account with high balances & they declined even my pre approved offer for the select card (comes free with burgundy relationship I was told), closed both accounts still every time rejected .. Is there a trick I'm missing to get an axis card approved ?
 
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