Standard Chartered Bank Declined Credit Card Application

[LoveKumar]

I applied for SC Bank Credit Card through online portal. My application was processed upto certain level internally in SC Bank. Till late night I got a mail from alerts.in@sc.com that my application has been declined for not meeting the bank policies.

I am concerned about my data which I shared with them. Please share your thoughts on how can I get real reason why my application got rejected?

 

[spatone]

I applied for SC Bank Credit Card through online portal. My application was processed upto certain level internally in SC Bank. Till late night I got a mail from alerts.in@sc.com that my application has been declined for not meeting the bank policies.

I am concerned about my data which I shared with them. Please share your thoughts on how can I get real reason why my application got rejected?

Cite the clause 6(a)(i) here to the bank and ask them for a reason. Although it gets into effect from next month. Hope SC already has systems to provide this info. Other than that, as of today the bank may not oblige you unfortunately.

Card-issuers shall provide a one-page Key Fact Statement along with the credit card application containing the important aspects of the card such as rate of interest, quantum of charges, among others. In case of rejection of a credit card application, the card-issuer shall convey in writing the specific reason/s which led to the rejection of the application.

Reserve Bank of India - Master Directions

 

[prc1990]

Cite the clause 6(a)(i) here to the bank and ask them for a reason. Although it gets into effect from next month. Hope SC already has systems to provide this info. Other than that, as of today the bank may not oblige you unfortunately.

New clauses which were supposed to be effective from 1st July, have been postponed to Oct I believe.

 

[spatone]

New clauses which were supposed to be effective from 1st July, have been postponed to Oct I believe.

Okay. Even lower chances then that StanC will have a system in place

 

[diablorojo8]

Are these clauses applicable now?