I got the revert from RBI regarding the complaint which i raised for asking rejection reason to federal bank. I didn't get any proper reason for rejection of my credit card from level-1,2,3 . They only mentioned eligibility criteria not met. I got only a generic mail reply from federal bank after it got rejected as "
Greetings from Federal Bank!
With reference to your credit card application dated 26/01/2025, we regret to inform you that we are currently unable to process your request favourably as your application did not meet the stipulated income criteria."
. Now federal Bank is stick on it . I got a revert from RBI today :
"On analysis, it is noted that Shri XYZ had applied for a credit card with the Bank on 26.01.2025 vide application ID “4060987654321234567897654” . He was not meeting the minimum income amount set by the Bank as per its norms for credit card applications and hence his application was rejected. As informed by Shri XYZ in his complaint, this specific reason was instantly communicated to the customer as “ your application did not meet the stipulated income criteria”. So it is clear that he is not having the income set by the Bank for
considering credit card applications. While taking up with the Bank, the bank had informed Shri XYZ that he is not meeting the eligibility criteria of the bank"
RBI is asking for the comments on this to substantiate my claim.
Federal bank Level1 reply:
After a thorough investigation, we regret to inform you that we are currently unable to process your request with reference number 4060987654321234567897654 dated on 26-01-2025 for a new Federal Bank Credit card as the details furnished by you do not meet the eligibility criteria set in our internal policies for issuance of credit card.
As per the Bank's policy for credit cards, a customer is being accessed based on various criteria. There is an internal scoring model for customers applying for a Federal Credit card and your application has been declined as it dd not meet the threshold limit of this scoring model.
Level2 reply: After a thorough review of your application, we regret to inform you that we are currently unable to process your request with reference number 4060987654321234567897654
dated 26-01-2025 for a new Federal Bank Credit Card, as the details furnished by you do not meet the eligibility criteria set in our internal policies for the issuance of a credit card.
Level3 reply:
After a thorough investigation, we regret to inform you that we are currently unable to process your request with reference number 4060987654321234567897654
dated on 26-01-2025 for a new Federal Bank Credit card as the details furnished by you do not meet the eligibility criteria set in our internal policies for issuance of credit card.
As per the Bank's policy for credit cards, a customer is being accessed based on various criteria. There is an internal scoring model for customers applying for a Federal Credit card and your application has been declined as it dd not meet the threshold limit of this scoring model.
They mentioned nothing and anything about the exact reason for reason in level1, 2, even in level 3. Federal Bank is still arguing on the generic reply sent by the bank at the time of rejection only. If the income criteria was the exact reason why didn't they mention it any level of escalation??
Kindly provide your valuable comments on it forward to RBI to substantiate my claim
Greetings from Federal Bank!
With reference to your credit card application dated 26/01/2025, we regret to inform you that we are currently unable to process your request favourably as your application did not meet the stipulated income criteria."
. Now federal Bank is stick on it . I got a revert from RBI today :
"On analysis, it is noted that Shri XYZ had applied for a credit card with the Bank on 26.01.2025 vide application ID “4060987654321234567897654” . He was not meeting the minimum income amount set by the Bank as per its norms for credit card applications and hence his application was rejected. As informed by Shri XYZ in his complaint, this specific reason was instantly communicated to the customer as “ your application did not meet the stipulated income criteria”. So it is clear that he is not having the income set by the Bank for
considering credit card applications. While taking up with the Bank, the bank had informed Shri XYZ that he is not meeting the eligibility criteria of the bank"
RBI is asking for the comments on this to substantiate my claim.
Federal bank Level1 reply:
After a thorough investigation, we regret to inform you that we are currently unable to process your request with reference number 4060987654321234567897654 dated on 26-01-2025 for a new Federal Bank Credit card as the details furnished by you do not meet the eligibility criteria set in our internal policies for issuance of credit card.
As per the Bank's policy for credit cards, a customer is being accessed based on various criteria. There is an internal scoring model for customers applying for a Federal Credit card and your application has been declined as it dd not meet the threshold limit of this scoring model.
Level2 reply: After a thorough review of your application, we regret to inform you that we are currently unable to process your request with reference number 4060987654321234567897654
dated 26-01-2025 for a new Federal Bank Credit Card, as the details furnished by you do not meet the eligibility criteria set in our internal policies for the issuance of a credit card.
Level3 reply:
After a thorough investigation, we regret to inform you that we are currently unable to process your request with reference number 4060987654321234567897654
dated on 26-01-2025 for a new Federal Bank Credit card as the details furnished by you do not meet the eligibility criteria set in our internal policies for issuance of credit card.
As per the Bank's policy for credit cards, a customer is being accessed based on various criteria. There is an internal scoring model for customers applying for a Federal Credit card and your application has been declined as it dd not meet the threshold limit of this scoring model.
They mentioned nothing and anything about the exact reason for reason in level1, 2, even in level 3. Federal Bank is still arguing on the generic reply sent by the bank at the time of rejection only. If the income criteria was the exact reason why didn't they mention it any level of escalation??
Kindly provide your valuable comments on it forward to RBI to substantiate my claim
