Why Is My Wife's Credit Cards Application getting Rejected?

[rapidboxer]

Hello


My wife is using 3 CCs (entry level)
She has applied to many other CCs but everywhere she is eligible and at the end she is getting disapproved.
Why is this happening?
She has a good Credit score , around 1 year history and good regular CC spends as well

But when she is trying for better CCs, even though all the banks say she is very much eligible and 100% assured of getting the CC, in the last step the bank is not giving the cc and also not providing any valid reason.

What can be the issue?

 

[shu_sha]

Bank only will be better to tell you the reason of rejection
If they deny mail to PNO and get the rejection reason

 

[VasukiVasuki is verified member.]

Hello


My wife is using 3 CCs (entry level)
She has applied to many other CCs but everywhere she is eligible and at the end she is getting disapproved.
Why is this happening?
She has a good Credit score , around 1 year history and good regular CC spends as well

But when she is trying for better CCs, even though all the banks say she is very much eligible and 100% assured of getting the CC, in the last step the bank is not giving the cc and also not providing any valid reason.

What can be the issue?

I understand your frustration but
Write their information which is technical
Like card they own , salary range, pincode etc

 

[dvader]

how many inquiries in last 3 months?

 

[RAMESH BABU N]

Ensure that there is a clear 2-3 month gap between any two applications.

Additional cards (within a bank - like Axis, Kotak or ICICI....) do not apply online as an outsider. Talk to their customer care guys n get approval on phone or via OTP and get additional cards.

Do not target the top tier cards. Start with entry level cards n within 2-3 years migrate to mid range n later attempt to get premium cards.

 

[RkrRkr is verified member.]

Hello


My wife is using 3 CCs (entry level)
She has applied to many other CCs but everywhere she is eligible and at the end she is getting disapproved.
Why is this happening?
She has a good Credit score , around 1 year history and good regular CC spends as well

But when she is trying for better CCs, even though all the banks say she is very much eligible and 100% assured of getting the CC, in the last step the bank is not giving the cc and also not providing any valid reason.

What can be the issue?

3 cards are enough to build good credit history...

What kind of card you have applied recently ?
Few more details like salaried/self employee, ITR Range,Current location..

These all plays crucial role in getting premium cards.

 

[rapidboxer]

Firstly thanks to everyone for putting forward their valuable inputs

Bank only will be better to tell you the reason of rejection
If they deny mail to PNO and get the rejection reason

I mailed but didnt get any response except the generic ones.

I understand your frustration but
Write their information which is technical
Like card they own , salary range, pincode etc

She is owning 3 cards icici coral, idfc first millenia and HDFC tata neu plus

how many inquiries in last 3 months?

Quiet a few. Almost daily she gets calls from yes bank, rbl, indusind saying she is qualified for a credit card ( and she needs it as well)
So naturally the applications go ahead.

Ensure that there is a clear 2-3 month gap between any two applications.

Additional cards (within a bank - like Axis, Kotak or ICICI....) do not apply online as an outsider. Talk to their customer care guys n get approval on phone or via OTP and get additional cards.

Do not target the top tier cards. Start with entry level cards n within 2-3 years migrate to mid range n later attempt to get premium cards.

Sir there was an urgent need of a card with international lounge access as we would be travelling across many countries in the coming month. On top of that she got calls stating she is eligible only to be refused in the last step. Even while entering the online applications, the systems show that she is eligible.

3 cards are enough to build good credit history...

What kind of card you have applied recently ?
Few more details like salaried/self employee, ITR Range,Current location..

These all plays crucial role in getting premium cards.

icici coral, idfc first millenia and HDFC tata neu plus
Self employed
ITR 1 year filed till now (around 4l-5l)
Location is metro city.

Avg monthly spend is around 50k-60k on credit
Can 90% utilization of the credit limit every month also be a factor? I don't really know.

 

[Tejo]

Quiet a few. Almost daily she gets calls from yes bank, rbl, indusind saying she is qualified for a credit card ( and she needs it as well)
So naturally the applications go ahead.

promotional calls, mostly sales executives

Also take care of liabilities/utilization(in cibil) ratio wrt income.

Can 90% utilization of the credit limit every month also be a factor? I don't really know.

I think should maintain gap ... 3 cards with 1yr cibil ... it seems like credit hungry

 

[Anindya98]

Sir there was an urgent need of a card with international lounge access as we would be travelling across many countries in the coming month. On top of that she got calls stating she is eligible only to be refused in the last step. Even while entering the online applications, the systems show that she is eligible.

I suggest you get savings with DC having International Lounge Access. So, that you can use the lounge access. Don't apply for back-to-back credit cards and get rejections.
Get an IDFC Wealth Joint Account. Best for Internation Lounge Access 2/Quarter. If you need more than 2 per quarter then open another account joint account by swiping the primary and secondary holder and then add the account under family banking.

J

Thread 'Debit cards with international lounge access'

Apr 4, 2024

Debit cards with international lounge access are :

1. IDFC Bank Private Debit Card
2. IDFC Bank Wealth Debit Card
3. PNB Bank Rupay Platinum International Debit Card
4. PNB Bank Rupay Select Debit Card
5. Canara Bank World Master Debit Card
6. Canara Bank Rupay Platinum International Debit Card
7. Canara Bank Rupay Select Debit Card
8. SBM India Wealth Visa Signature Debit Card
9. BOB RuPay Select DI Debit Card
10. BOB World Opulence Debit Card ( Unlimited )
11. BOI Rupay Select Debit Card
12. Yes Bank Eclectic Debit Card
13. Yes Bank Apex International Debit Card...

• jetesh
• Replies: 48
• Forum: Debit Card

• 

 

[Anindya98]

Can 90% utilization of the credit limit every month also be a factor? I don't really know.

This also might be the reason.

 

[dvader]

@rapidboxer

Banks in India are biased toward salaried persons as far as Credit Cards are concerned. Even if the person has exposure, banks usually give them CCs albeit with a very low limit. Enquires (alone) typically don't matter much if you have 3+ years of credit history, you can have 50-60 total enquires but that won't impact your score much, it's the inquiries in rapid succession that lead to instant rejection. Please avoid calls from sales executives and apply credit cards responsibly.

Credit Utilization greatly impacts your credit score. Keep that below 30%.

I have 38 CCs with excellent history (and score) and I made the mistake of applying for an AU credit card without looking at 3 inquiries on Jan 25 (limit enhancement from Indusind and duplicate inquiries from HDFC). Instant rejection.

 

[desiviru]

Higher credit utilization is invesrsely propotional to getting new cards.

Only timely payments don't just consider. More utilzation profile = more hungry for credit = rejection.

I under utilize card for 1st year and then they increase limit. A higher limit always helps in keeping Limit:Utililzation ratio down and make one eligible for new CCs.