over-leverage can be a reason for any Credit card application Rejection share your thoughts on this

[Fini7777]

I'd like to hear from you,
having high credit limits and multiple credit cards impact our future CC Applications?
I've applied 3-4 cards recently and they were approved with highest limits ever in my portfolio
after this, HDFC started rejecting my application for cc again and again( I've HDFC TATA neu infinity and I applied for their core card)

Now, I've total 12 CCs incl HDFC

Will this really impact my future credit card applications?
which banks are currently taking this into consideration?

BTW I applied for swiggy HDFC CC and Biz moneyBack- REJECTED- a few days ago

 

[sjmajumder]

What is your total credit limit across all cards?

 

[Fini7777]

What is your total credit limit across all cards?

it is around 33L

 

[sjmajumder]

it is around 33L

Don't worry. My overall CL is 1.8 CR across 30+ cards and I still keep applying new cards and easily get them. What matters more is your CIBIL score and credit history.

Check this https://www.technofino.in/community/threads/which-is-your-first-credit-card-of-2024.21804/

 

[Anonymous_]

HDFC rejected your application because in HDFC one should always take core card first. They don't approve if someone is holding their Co-branded card.

You have to request for upgrade of your HDFC Neu Infinity to a core card, then after sometime you can re-apply for Neu Infinity and other cc.

 

[technoboy99]

Yes, a lot of credit lines make you look like credit hungry and make you a risky customer, what if you just maxed out all your CCs and went invisible. Also, applying too frequently may be another reason. I suggest you to close the CCs you don’t need and wait atleast 3 months after one CC application. My friend who works in a top private bank and processes CC applications says that any credit limit utilisation percentage above 25% is a red flag and the application is generally rejected unless the application is by a salaried person and has an excellent credit score.

 

[sjmajumder]

Yes, it is definitely a reason, my friend who works in a top private bank and processes CC applications says that any credit limit utilisation percentage above 25% is a red flag and the application is generally rejected unless the application is by a salaried person and has an excellent credit score.

Read the question

 

[purush]

That's a definite reason now a days I got rejected and sbi agents said that exact reason as u have many cards.

 

[Vasuki]

I'd like to hear from you,
having high credit limits and multiple credit cards impact our future CC Applications?
I've applied 3-4 cards recently and they were approved with highest limits ever in my portfolio
after this, HDFC started rejecting my application for cc again and again( I've HDFC TATA neu infinity and I applied for their core card)

Now, I've total 12 CCs incl HDFC

Will this really impact my future credit card applications?
which banks are currently taking this into consideration?

BTW I applied for swiggy HDFC CC and Biz moneyBack- REJECTED- a few days ago

If you have co branded why did u apply for core Card mate u didn't knew ? Conversation require special approval

Try exchange your tata neu for core Card of hdfc via customer care or email

Or close it and wait for hdfc core Card pre approvals

 

[sjmajumder]

That's a definite reason now a days I got rejected and sbi agents said that exact reason as u have many cards.

Problem only with SBI. I have got 5-6 new cards this year in spite of already having approx 25 cards with CL of 1.3CR

 

[Fini7777]

Yes, a lot of credit lines make you look like credit hungry and make you a risky customer, what if you just maxed out all your CCs and went invisible. Also, applying too frequently may be another reason. I suggest you to close the CCs you don’t need and wait atleast 3 months after one CC application. My friend who works in a top private bank and processes CC applications says that any credit limit utilisation percentage above 25% is a red flag and the application is generally rejected unless the application is by a salaried person and has an excellent credit score.

Yeah! I do understand But This might not be the reason for my HDFC card rejection
I've 784 CIBIL with 1% utilization
anyways I should have applied for their core card to be in safe zone
But I feel TATA neu infinity isn't a bad card it provides unconditional lounge access and 1.5% CSB on UPI

 

[technoboy99]

Yeah! I do understand But This might not be the reason for my HDFC card rejection
I've 784 CIBIL with 1% utilization
anyways I should have applied for their core card to be in safe zone
But I feel TATA neu infinity isn't a bad card it provides unconditional lounge access and 1.5% CSB on UPI

Yeah it’s a great card for UPI spends. 1% credit utilisation is quite rare for someone and maybe this is the reason why your applications are getting extra attention. If you want a HDFC core Card approved easily, you may open a savings/salary account with them.

 

[Fini7777]

If you have co branded why did u apply for core Card mate u didn't knew ? Conversation require special approval

Try exchange your tata neu for core Card of hdfc via customer care or email

Or close it and wait for hdfc core Card pre approvals

Yeah! Late realization
I don't want to close this card as it provides some good returns on UPI and I have most of the other CSB cards from other banks so, No need to look for their core card

 

[Desu Sarath]

When I applied for SBI elite, Manager from credit card branch mentioned that there is a big chance of rejection if one's profile is over leveraged (Especially SBI cards)

That is the reason, in general, they ask you for income range and company you work ( if you are employed).

So better close the unused cards and cards that you don't use in anyways.

 

[Vasuki]

When I applied for SBI elite, Manager from credit card branch mentioned that there is a big chance of rejection if one's profile is over leveraged (Especially SBI cards)

That is the reason, in general, they ask you for income range and company you work ( if you are employed).

So better close the unused cards and cards that you don't use in anyways.

Sbi cards everyone knows .
Not others

 

[KLB@96]

Don't worry. My overall CL is 1.8 CR across 30+ cards and I still keep applying new cards and easily get them. What matters more is your CIBIL score and credit history.

Check this https://www.technofino.in/community/threads/which-is-your-first-credit-card-of-2024.21804/

but what about salary ? Banks do consider that right like less salary and big card limits

 

[Fini7777]

Yeah it’s a great card for UPI spends. 1% credit utilisation is quite rare for someone and maybe this is the reason why your applications are getting extra attention. If you want a HDFC core Card approved easily, you may open a savings/salary account with them.

I've preferred account in HDFC

 

[newinnov]

Yeah! Late realization
I don't want to close this card as it provides some good returns on UPI and I have most of the other CSB cards from other banks so, No need to look for their core card

Don't close it now, You won't get LTF. Now only FYF since 24 April

 

[Kumar93196]

These banks don't issue cc if you are in overleverage
sbi
hsbc
standard charted
idfc.

I'd like to hear from you,
having high credit limits and multiple credit cards impact our future CC Applications?
I've applied 3-4 cards recently and they were approved with highest limits ever in my portfolio
after this, HDFC started rejecting my application for cc again and again( I've HDFC TATA neu infinity and I applied for their core card)

Now, I've total 12 CCs incl HDFC

Will this really impact my future credit card applications?
which banks are currently taking this into consideration?

BTW I applied for swiggy HDFC CC and Biz moneyBack- REJECTED- a few days ago

rest banks don't card that much about it.

 

[Desu Sarath]

These banks don't issue cc if you are in overleverage
sbi
hsbc
standard charted
idfc.



rest banks don't card that much about it.

Standard chartered is no more in that club.