Kotak credit card application rejected, need help to fight against the decision

[rajgopalsinghal]

Hi,

I applied for a Kotak Credit Card on October 31st, and after two days, the bank rejected my application without explaining why. When I emailed them, they said my application was rejected because I didn't complete the full KYC, but the bank didn't send any link or call me to complete it. The bank representative asked me to visit the branch for full KYC, but I requested them to arrange a visit to my home or send a link for video KYC. Unfortunately, I haven't received any response from them. Today, the bank rejected my application again, citing a different reason as below

"Your credit profile is not in line with our prevailing credit norms"

What action can I take against the bank for this.

 

[life]

you would only be able to apply after 6 months now.

 

[D₹V]

you would only be able to apply after 6 months now.

3 months** .

 

[vaibhav111vaibhav111 is verified member.]

Hi,

I applied for a Kotak Credit Card on October 31st, and after two days, the bank rejected my application without explaining why. When I emailed them, they said my application was rejected because I didn't complete the full KYC, but the bank didn't send any link or call me to complete it. The bank representative asked me to visit the branch for full KYC, but I requested them to arrange a visit to my home or send a link for video KYC. Unfortunately, I haven't received any response from them. Today, the bank rejected my application again, citing a different reason as below

"Your credit profile is not in line with our prevailing credit norms"

What action can I take against the bank for this.

Read all the comment posted till 2nd page. I do feel the pain just like everyone here at my community for rejection we have been rejected for some cc. We all have/want kotak for bank offer vs reward point system isn't there comparing to other ltf/fyf card. you need to wait for 3/6 month or apply via ask someone In your family for the required kotak cc. In term of decision you can't twist bank arm to give you what you want that not how it work.

 

[rajgopalsinghal]

Read all the comment posted till 2nd page. I do feel the pain just like everyone here at my community for rejection we have been rejected for some cc. We all have/want kotak for bank offer vs reward point system isn't there comparing to other ltf/fyf card. you need to wait for 3/6 month or apply via ask someone In your family for the required kotak cc. In term of decision you can't twist bank arm to give you what you want that not how it work.

Actually my point is, how can the bank reject my application in just one day, saying that I haven't completed the full KYC? No one from the bank has reached out to me for that.

 

[balpreet.singh]

Hi,

I applied for a Kotak Credit Card on October 31st, and after two days, the bank rejected my application without explaining why. When I emailed them, they said my application was rejected because I didn't complete the full KYC, but the bank didn't send any link or call me to complete it. The bank representative asked me to visit the branch for full KYC, but I requested them to arrange a visit to my home or send a link for video KYC. Unfortunately, I haven't received any response from them. Today, the bank rejected my application again, citing a different reason as below

"Your credit profile is not in line with our prevailing credit norms"

What action can I take against the bank for this.

Even I faced a Kotak Card rejection ( probably my first rejection ever) in July. It was the same reason KYC not submitted. I mailed back stating, if document was missing, who stopped them for asking for the same. As expected a standard copy past answer they sent.

I then applied for Kotak 811 account for wife and via that they sent a CC also. Got a card within the family, but Kotak's process I can say is hillarious.

Regards,
Balpreet

 

[rajgopalsinghal]

Well, I filed a complaint with the Banking Ombudsman, and the bank responded by reopening my card application, scheduling a home document collection, and ultimately approving the card. I asked for help here but trollers just supported the banks wrong decision.

 

[rajgopalsinghal]

Read all the comment posted till 2nd page. I do feel the pain just like everyone here at my community for rejection we have been rejected for some cc. We all have/want kotak for bank offer vs reward point system isn't there comparing to other ltf/fyf card. you need to wait for 3/6 month or apply via ask someone In your family for the required kotak cc. In term of decision you can't twist bank arm to give you what you want that not how it work.

I twisted it and it worked

 

[MangoRush]

Anyways, since you got the card, enjoy it. Don't go about ridiculing others for their opinion, which you explicitly asked for.

 

[SSV]

Well, I filed a complaint with the Banking Ombudsman, and the bank responded by reopening my card application, scheduling a home document collection, and ultimately approving the card. I asked for help here but trollers just supported the banks wrong decision.

First of all, congratulations on your card approval ..and successfully twisting the Kotak's arm...
Secondly .. many many congratulations on proving us all trollers wrong ... you have once again proven that anything can happen in the finance world .

Thank you for letting us know what worked in these types of cases by acting as a torch bearer ...

Happy Kotaking ..

 

[D₹V]

Well, I filed a complaint with the Banking Ombudsman, and the bank responded by reopening my card application, scheduling a home document collection, and ultimately approving the card. I asked for help here but trollers just supported the banks wrong decision.

Congratulations.

Did they put a CIBIL hit again?

 

[rajgopalsinghal]

Congratulations.

Did they put a CIBIL hit again?

No, They didnt

 

[rajgopalsinghal]

Anyways, since you got the card, enjoy it. Don't go about ridiculing others for their opinion, which you explicitly asked for.

I didn't say anything to the people who replied genuinely. I'm grateful to them. But there was no need for unnecessary teasing or making fun of things here.

 

[D₹V]

No, They didnt

Thanks 👍.

Now I also have a heads up for Myntra 👿 card.

 

[ImKushal]

C

Well, I filed a complaint with the Banking Ombudsman, and the bank responded by reopening my card application, scheduling a home document collection, and ultimately approving the card. I asked for help here but trollers just supported the banks wrong decision.

Hey can you help me too ? Can i do the same now with my Application which has got rejected in march without telling any specific reason

 

[rajgopalsinghal]

C

Hey can you help me too ? Can i do the same now with my Application which has got rejected in march without telling any specific reason

Yes just ask them for reason over email. If you don't get satisfactory response then file a complaint on RBI banking ombudsman portal

 

[mj01]

Isn't there a ban in effect on Kotak from issuing new CCs since April?