Known Rejection Criteria for Credit Cards

[nayra]

Can the experienced Fintos share any known criteria for credit cards which may help others, before they apply?

For example, I saw someone mentioned Amex cards require 6 month credit history at least. If such information can be compiled, unnecessary CIBIL hits may be avoided. Any small thing, such as serviceable area (It might be present on the Card website, but people can miss it) might prove useful to others, and even if not a strict criterion but good to have it kind too.
- Like maybe using Amazon UPI regularly or already having a ICICI core card would be helpful for getting Apay ICICI card (An hypothetical example, not sure if it is true)

If this goes well, making it a pinned post for New Member Section would be great! I am a new member with no clue on these, but making this a Wiki Post so anyone can take this up.

 

[Tejo]

Can the experienced Fintos share any known criteria for credit cards which may help others, before they apply?

For example, I saw someone mentioned Amex cards require 6 month credit history at least. If such information can be compiled, unnecessary CIBIL hits may be avoided. Any small thing, such as serviceable area (It might be present on the Card website, but people can miss it) might prove useful to others, and even if not a strict criterion but good to have it kind too.
- Like maybe using Amazon UPI regularly or already having a ICICI core card would be helpful for getting Apay ICICI card (An hypothetical example, not sure if it is true)

If this goes well, making it a pinned post for New Member Section would be great! I am a new member with no clue on these, but making this a Wiki Post so anyone can take this up.

Seems like your asking for tips, how to get credit card with 99.9% approve.

You are not the first to create this type of thread.

Please check in creditcard section under different banks.

 

[nayra]

Seems like your asking for tips, how to get credit card with 99.9% approve.

You are not the first to create this type of thread.

Quite opposite, Im looking for 99.9% rejection criteria to avoid. Tips can be shared but main reason of the post is known failure criteria, using which CIBIL Enquiries can be saved if you don't meet these failure criteria.

 

[Tejo]

Quite opposite, Im looking for 99.9% rejection criteria to avoid. Tips can be shared but main reason of the post is known failure criteria, using which CIBIL Enquiries can be saved if you don't meet these failure criteria.

Which bank cc rejected recently ?

Why they rejected, did you enquire ?

 

[nayra]

Which bank cc rejected recently ?

Why they rejected, did you enquire ?

Prevention is better than cure

TF spoiled me and I want so many of the cards now (only 4 months credit history lol), so want to take feasible decisions.

 

[nayra]

@vaibhav111 or any other mods, change title to "Known Rejection Criteria for Credit Cards"

Thanks.

 

[Tejo]

Prevention is better than cure

TF spoiled me and I want so many of the cards now (only 4 months credit history lol), so want to take feasible decisions.

If you can't say reason, we can't save you from rejections and enquiries .... do not hide small things to a lawyer.

Age? Job?

Student ? Silver spoon kid? Premier institution?

You need to be something to get something else you should have patience atleast with listeningness and understanding ... personality.

Please @vaibhav111 lock the thread. This is sensitive query not to be on search engine.

Kiddu of 4 months cibil history, wishes to get tips and tricks for approval of all bank credit cards.

 

[nayra]

If you can't say reason, we can't save you from rejections and enquiries .... do not hide small things to a lawyer.

Age? Job?

Student ? Silver spoon kid? Premier institution?

You need to be something to get something else you should have patience atleast with listeningness and understanding ... personality.

Please @vaibhav111 lock the thread. This is sensitive query not to be on search engine.

Kiddu of 4 months cibil history, wishes to get tips and tricks for approval of all bank credit cards.

I never asked for personal recommendation or help? Just meant to have a compiled post of some known criteria to help others not waste CIBIL hits. This was a wiki post, and when I want to apply a certain card, that will be another thread with the details required from me.

 

[rogerthat]

Some helpful tips:

• SBI Card: The longer your credit history, the more chances there are for rejection. This is because by that time you will have acquired multiple cards with large credit limits which is a negative (overvalued) in SBI's book.
• HDFC Bank: If you have a co-branded card it is nearly impossible to get a core card unless you have a salary account.
• ICICI Bank: ICICI does not consider the Amazon Pay card as it's own card. You will not receive any bank offers, upgrades, etc. based on it.
• AMEX: Add-on cards are listed in the add-on card holder's CIBIL.
• Standard Chartered: Opening a bank account helps a lot to get any credit card from them.

 

[hitirfan]

Some helpful tips:

• SBI Card: The longer your credit history, the more chances there are for rejection. This is because by that time you will have acquired multiple cards with large credit limits which is a negative (overvalued) in SBI's book.
• HDFC Bank: If you have a co-branded card it is nearly impossible to get a core card unless you have a salary account.
• ICICI Bank: ICICI does not consider the Amazon Pay card as it's own card. You will not receive any bank offers, upgrades, etc. based on it.
• AMEX: Add-on cards are listed in the add-on card holder's CIBIL.
• Standard Chartered: Opening a bank account helps a lot to get any credit card from them.

But if u have any relationship with ICICI like savings account or CC, u get Amazon Pay ICICI Credit card easily

 

[rogerthat]

But if u have any relationship with ICICI like savings account or CC, u get Amazon Pay ICICI Credit card easily

Yes. But not the other way around.

 

[nayra]

But if u have any relationship with ICICI like savings account or CC, u get Amazon Pay ICICI Credit card easily

Thanks for confirming this, I am eligible for alumni rubyx, will try that route when I do.

 

[Tejo]

Some helpful tips:

• SBI Card: The longer your credit history, the more chances there are for rejection. This is because by that time you will have acquired multiple cards with large credit limits which is a negative (overvalued) in SBI's book.

Detailed Tip: @nayra

Over leverage
We need to minimize overall credit limit, by closing or requesting other banks to decrease.

Also we need cibil history to get the card without income proof

age 23-25+ for self employed.

• HDFC Bank: If you have a co-branded card it is nearly impossible to get a core card unless you have a salary account.

Few people managed to convert co-brand to core cards like paytm one & other discontinued co-brand cards.

• ICICI Bank: ICICI does not consider the Amazon Pay card as it's own card. You will not receive any bank offers, upgrades, etc. based on it.

Icici offers Visa platinum ltf, Expression paid, Rupay coral paid/ltf against amazon credit card

• AMEX: Add-on cards are listed in the add-on card holder's CIBIL

If we managed to get add-on amex card.
After few months, we can apply and get it easily

• Standard Chartered: Opening a bank account helps a lot to get any credit card from them.

Salaried
Else they require high NRV

 

[rogerthat]

Detailed Tip: @nayra

Over leverage
We need to minimize overall credit limit, by closing or requesting other banks to decrease.

Also we need cibil history to get the card without income proof

I tried this, didn't work. Reduced the combined credit limit from 60L to around 23L by closing cards which is less than my total annual income and am still over leveraged according to them. 18 years credit history with ironically SBI Card being my oldest card.

 

[Tejo]

I tried this, didn't work. Reduced the combined credit limit from 60L to around 23L by closing cards which is less than my total annual income and am still over leveraged according to them. 18 years credit history with ironically SBI Card being my oldest card.

Try mentioning, High income

Sbi don't care how much you max availed.

They suggest care about your income.

Currently SBI is not in mood to give, who already had active 10-15Lakh+ credit limit.

 

[vaibhav111vaibhav111 is verified member.]

@vaibhav111 or any other mods, change title to "Known Rejection Criteria for Credit Cards"

Thanks.

I understand what you're trying to get to. Save time and look for criteria rather than applying and facing rejection. There couple of existing thread so try to search in tf community if similar thread exist. Try to get another cc after 14/15 cause cibil might take time to update as cc you have. If not wait atleast 12 month and then apply for new cc.