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Axis Bank rejected application for Neo card without even a KYC or Income Proof!

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CosmicCat

CosmicCat

TF Ace
Yesterday, I applied for the Axis Neo LTF credit card, and today in the morning, I got an SMS that my application is REJECTED — in less than 24 hours!

They didn't even do a Video KYC or ask me to upload my income proof!

Here's a brief information about me:
- I don't have any existing relationship with Axis Bank. Never applied for their cards.
- Self-Employed (Freelance Software Developer) working offshore, so I work from home and don't have any office address.
- I write my business name as my own name.
- CIBIL score is 751. Until last month, it was 759, but it got reduced after I got my Amazon Pay and Tata Neu Infinity HDFC cards last month. I don't know why.
- My CIBIL has just 2 enquiries, one for this month, another one from last month.
- Credit history is of 4 years with no defaults or late payments.

Apparently, Axis Bank doesn't want first-time customers to have LTF cards, because I've read several comments on X from people who applied for the Axis Neo card, and they all got rejected without even a KYC or option to upload income proof or any other sort of verification!

I wouldn't have been so annoyed for the rejection if they had at least rejected it after KYC and income proof verification. But what's the logic behind rejecting it without even a KYC or income verification?
 
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RishiKiDev said:
When did you apply?
Click to expand...
Last month. I don't have any prior relationship with Axis Bank. They rejected my application within 24 hours. I even escalated the case to their leadership team. Somebody from their upper management contacted me from their personal contact number and asked me to send my ITR to her work email. I did, and she call me back the next day stating that my income is less than the eligible income for that card.

Mind that I was applying for their Neo card, which is an entry-level one, and my annual income was much more than ₹4L in the ITR (which is usually the minimum criteria for their most entry-level cards), yet I got rejected.

Fukh A@is Bank! I'm never applying for their cards, neither planning to open savings account with them.
 
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Catman said:
Last month. I don't have any prior relationship with Axis Bank. They rejected my application within 24 hours. I even escalated the case to their leadership team. Somebody from their upper management contacted me from their personal contact number and asked me to send my ITR to her work email. I did, and she call me back the next day stating that my income is less than the eligible income for that card.

Mind that I was applying for their Neo card, which is an entry-level one, and my annual income was much more than ₹4L in the ITR (which is usually the minimum criteria for their most entry-level cards), yet I got rejected.

Fukh A@is Bank! I'm never applying for their cards, neither planning to open savings account with them.
Click to expand...
They must have ran out of the quota alloted to neo ltf for that month. Sh*t happens but don't worry, you may get again if the quota resets.
Always try to apply in the beginning of a quarter.
I have also heard that Axis declines if you have more than 4 credit accounts and high utilisation.

In my opinion rather than going for faltu neo card better to go for airtel axis or gpay ace card.
They're value for money even if they're paid ones.
 
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AritraSaha said:
I also get rejected two times..(stop trying now)..

Ppl have tried 9-8 times to get a lft axis card..
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It's all random. I was approved instantly for both Axis cards despite being self employed and no prior relationship with Axis. Virtual card shown instantly. For the second one (Airtel), I called them a week after having received the first (Flipkart LTF) and they sent it over the call without any question. However, I have had terrible experience with HDFC and AU and many people here are roaming around with cards from those banks. So for me the best have been IDFC, SBI, Axis, RBL and Kotak while HDFC, AU and Yes Bank have been absolutely terrible.
 
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RishiKiDev said:
They must have ran out of the quota alloted to neo ltf for that month. Sh*t happens but don't worry, you may get again if the quota resets.
Always try to apply in the beginning of a quarter.
I have also heard that Axis declines if you have more than 4 credit accounts and high utilisation.
Click to expand...
Makes sense. September was the last month of that quarter. But, regardless, I got my first-ever credit card in August, which was an Amazon Pay one. So, I'm not sure if they considered its age at that point.

So far I have only 3 credit cards, one from ICICI and another one from HDFC, and an IDFC FIRST Classic one, but that's not reflecting in my CIBIL yet despite being 1.5 month old already.

The only reason I was planning to get a LTF card from Axis was, to get merchant-specific card offers. I don't like payable cards. All the three cards I have are LTF.
 
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Lobogris said:
It's all random. I was approved instantly for both Axis cards despite being self employed and no prior relationship with Axis. Virtual card shown instantly. For the second one (Airtel), I called them a week after having received the first (Flipkart LTF) and they sent it over the call without any question. However, I have had terrible experience with HDFC and AU and many people here are roaming around with cards from those banks. So for me the best have been IDFC, SBI, Axis, RBL and Kotak while HDFC, AU and Yes Bank have been absolutely terrible.
Click to expand...
How did you get the Flipkart Axis credit card as LTF?

My experience with HDFC was decent, perhaps because I applied it from the Tata Neu app. In August, my Tata Neu Infinity Credit card was approved within 5 minutes without even any income proof (It is my first credit card from HDFC), and they didn't even put any enquiry in my CIBIL report so far. And the card was LTF.

My Savings Max account from HDFC is just over a year old, so I had a good experience with the credit card onboarding with HDFC Bank.
 
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