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There can be various reasons. But, according to me, this can be one of the major reasons. If it's 690 on CRIF Highmark, then ignore my response like how all banks ignore CRIF for their extreme inconsistency. But if it's on CIBIL, my recommendation is not apply for SBI cards with that score, rather start repairing your score ASAP.having a credit score of around 690,
if 690 is your credit score on cibil/Experian then try to improve your score. make it at least 720 before even considering any card. It's better to have 750.+. I will recommend not applying for any card for the next 6 months. Use less than 30% of the total credit limit. For the next 6 months you should consider improving your score by 60 in 6 months can be tough but you can achieve that by reducing your usage.I had a similar experience where I contacted the nodal officer about my credit card application being rejected due to not meeting the criteria. The officer informed me that I was not eligible for the card.
Despite earning a salary of 30Lpa as a manager at Capgemini and having a credit score of around 690, I am unsure why my credit card application was rejected.
It could be any reason. No one knows their algorithms.My cashback credit card application got rejected even before vkyc saying it does not meet criteria.....what could be the reason for it?
Cibil or service area? 🤔
Don’t worry if you don’t get this card lolIt could be any reason. No one knows their algorithms.
In my case, an agent told me that since I hold Simplyclick, so they won't issue the Cashback card to me for the next 6 months.
View attachment 13037
The Card went from my Everyday card to closing it ASAP !Don’t worry if you don’t get this card lol
I've applied with 822 CIBIL and atill rejectedThere can be various reasons. But, according to me, this can be one of the major reasons. If it's 690 on CRIF Highmark, then ignore my response like how all banks ignore CRIF for their extreme inconsistency. But if it's on CIBIL, my recommendation is not apply for SBI cards with that score, rather start repairing your score ASAP.
you should be happy.This card will be junk effective May 1 2023 .It's not worth for its fee it chargesI've applied with 822 CIBIL and atill rejected
But after that rejection my CIBIL went down to 697you should be happy.This card will be junk effective May 1 2023 .It's not worth for its fee it charges
there is no way CIBIL will go down from 822 to 697 from one credit card rejectionBut after that rejection my CIBIL went down to 697
What's your credit utilization? and have you defaulted on any payment?But after that rejection my CIBIL went down to 697
Not possible, i think you have miss understood your credit score from cibil and experrian.But after that rejection my CIBIL went down to 697
How long is your credit history?But after that rejection my CIBIL went down to 697
No, I didn't have any secured credit cards and my credit history was of 5+ years old.How long is your credit history?
Credit score can fluctuate alot when your history is comparatively low. But when you have a long history of 5/10/15+ years, it wont change much unless you default on payments.
800+ score is somewhat difficult to achieve in long run without some secured credit products like home/auto loans.