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Credit Card Rejected? Here’s the Cooldown Period You Have to Wait

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bobby_123

In case you apply for a Credit Card and it gets rejected, in most cases, you cannot re-apply right away. It will get declined immediately. You have to wait for a specific period of time before you can apply again. This waiting period is termed as ‘Cooldown Period’.

Different banks can have different cooldown periods. In today’s post, I am listing down the cooldown periods for the most popular banks so that it helps you take an informed decision.

Things to Note:
  1. This cooldown period only applies to regular applications where you approach the bank for applying credit card and get rejected for any reason.
  2. In case you get a pre-approved credit card offer, the cooldown period doesn’t apply.
  3. In case you apply for a secured credit card against Fixed Deposit, the cooldown period doesn’t apply.
  4. Every time you apply, the bank will do a Hard Inquiry which may affect your CIBIL Score. Check out my other post to know about the CIBIL Inquiry Amounts of each bank.
Credit Cards’ Cooldown Period List:
Bank Cooldown Period Remarks
AU Bank 6 Months
Axis Bank No Cooldown 1
BOB Cards 3 Months
HDFC Bank 6 Months
ICICI Bank 6 Months
IndusInd Bank 3 Months
IDFC First Bank 6 Months
RBL Bank 3 Months
SBI No Cooldown
Yes Bank 3 Months

Remarks:

  1. Axis Bank has a 6 months cooldown period theoretically. But it is not strictly followed, especially if you apply via 3rd parties such as Flipkart App (for Axis Flipkart CC) or Google Pay App (for Axis Ace CC 1).
  2. SBI has no cooldown period. If you have your credit card rejected, you can easily re-apply again.

Please comment on other credit cards’ cooldown periods and I will update it. Thank you.

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Disclaimer
We are not SEBI/IRDA registered. The information provided herein is for education purposes only. We will not be responsible for any of your profit/loss with this channel's suggestions. Consult your financial advisor before making any decisions.
Top Comments
Hunk Hunk
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TechnoFrendz wrote:

For ICICI, my application got rejected instantly after submitting it. 

So I left thinking to apply for after few months.

Later they called me I guess it was almost one month, On call they confirmed my platinum card is approved. New application was applied from their end as they already had info from my old application. They confirmed the details again. No documents were required from my end.

In two days got confirmation email and then card dispatch. Also I was able to see card in iMobile app just after email.

So I think this cool down thing is decided as per customer relationship with Bank. 

The truth. If customer is a valuable one, bank will bend every rules to get that person a credit card. HDFC did that with my father.

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Finance Ninja Finance Ninja
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Faug wrote:

what offer? Haven’t checked netbanking as I rarely login, use upi for all transactions. Will check tomorrow morning. No email offers as of now. 

Also try to use debit card as well. Will help

Finance Ninja Finance Ninja
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Kochiro wrote:

SBM didn’t for onecard and I made icici FD card twice. No inquiry at all. Btw applied for icici apay and it got rejected :/ it was paperless. I did it thinking I will do c2c using newly approved hdfc card after 6 months but is it possible using 50k limit ? 

50k limit won’t be a good idea for C2C basis for any card. Atleast 1L is needed but I would suggest 2L+ cards.

Critic Critic
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prem4998 wrote:

50k limit won’t be a good idea for C2C basis for any card. Atleast 1L is needed but I would suggest 2L+ cards.

It used to be 75k(& 30k for hdfc entry tier moneyback/co-branded card) unless something changed very recently. 2 Lakh+ limit cards are required for applying some mid-tier cards from major banks on card-to-card basis.
@kochiro

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prem4998 wrote:

50k limit won’t be a good idea for C2C basis for any card. Atleast 1L is needed but I would suggest 2L+ cards.

@guest_999 I just applied for BOB card and it is showing vkyc link. I wonder if they will approved it. I uploaded sbi statement as income proof.

Critic Critic
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Kochiro wrote:

@guest_999 I just applied for BOB card and it is showing vkyc link. I wonder if they will approved it. I uploaded sbi statement as income proof.

BoB is psu bank so many times luck plays important role. You may have a chance of approval though initially limit won’t be much(hopefully you get at least around 40k).

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guest_999 wrote:

BoB is psu bank so many times luck plays important role. You may have a chance of approval though initially limit won’t be much(hopefully you get at least around 40k).

what do they ask in offline kyc? People mentioned there’s vkyc then pkyc.

Critic Critic
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Kochiro wrote:

what do they ask in offline kyc? People mentioned there’s vkyc then pkyc.

No experience but in case of sbi/axis the person doing physical kyc comes at home & ask about what you do, how long you are living at this address, how many family members living at this address etc.

Finance Ninja Finance Ninja
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Kochiro wrote:

@guest_999 I just applied for BOB card and it is showing vkyc link. I wonder if they will approved it. I uploaded sbi statement as income proof.

Can’t say really. As he said, luck plays a major role so no surprise even if it is approved. But chances are low.

Deal Cadet Deal Cadet
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prem4998 wrote:

Cibil is perfect. Don’t see many above 800 these days. Experian is generous and can go upto 870 easily sweat_smile

Exactly!

Post Emperor Post Emperor
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prem4998 wrote:

Hdfc giving out LTF pre-approved cards to existing customers. I got one on my 3 month old hdfc account.

Edit: Family member account

Bro How To Know Offer Pre-approved Or Not? I have received too Many e-mails/sms/WhatsApp Messege/HDFC app notification…& Finally I applied it on 26 May & showing Only two card business moneyback & CSC Business moneyback card & when I clicked on CSS business moneyback….its shown “please choose your Pre-approved business moneyback card for faster approval” & last I uploaded Pan/aadhar/ITR/photo ( I have already two months old saving account… Maintaing 1.90L & 70K FD, RD, NEFT, IMPS, Card Taransations (card transaction 60-70K))

Any approval chances? My cibil score 753+ everything okay in CIBIL profile expected too many credit enquires.

https://cdn0.desidime.com/attachments/photos/771048/medium/Screenshot_2022_0528_184643.jpg?1653743852


Deal Newbie Deal Newbie
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Thanks @bobby_123 good useful info and important for those who may be thinking of re-applying after just few weeks.

Deal Newbie Deal Newbie
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Spanjaykumar wrote:

Bro How To Know Offer Pre-approved Or Not? I have received too Many e-mails/sms/WhatsApp Messege/HDFC app notification…& Finally I applied it on 26 May & showing Only two card business moneyback & CSC Business moneyback card & when I clicked on CSS business moneyback….its shown “please choose your Pre-approved business moneyback card for faster approval” & last I uploaded Pan/aadhar/ITR/photo ( I have already two months old saving account… Maintaing 1.90L & 70K FD, RD, NEFT, IMPS, Card Taransations (card transaction 60-70K))

Any approval chances? My cibil score 753+ everything okay in CIBIL profile expected too many credit enquires.

https://cdn0.desidime.com/attachments/photos/771048/original/Screenshot_2022_0528_184643.jpg?1653743852


this is preapproved, you will get the card in no time.

Deal Newbie Deal Newbie
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Tanmayyy wrote:

Hdfc did that for me as well , application was rejected, asked hdfc why it was rejected, they said they’ll review the application once again , 2 days later got a mail from the nodal officer saying they approved my millenia card and i had the card in my hand after 1 day

Did you requested them through mail. If so would you please share me the mail address

Finance Ninja Finance Ninja
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jackpoker wrote:

Did you requested them through mail. If so would you please share me the mail address

I mailed them at Grievance.Redressalcc[at]hdfcbank.com

Finance Mentor Finance Mentor
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bikidas2060 wrote:

The truth. If customer is a valuable one, bank will bend every rules to get that person a credit card. HDFC did that with my father.

Aisa Kya kiya bro

Critic Critic
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beastboy wrote:

Aisa Kya kiya bro

It is common logic, if you are a valuable enough customer in bank’s eyes then they will give you the most exclusive & difficult to get card without you even applying for it. smile

Deal Newbie Deal Newbie
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icici apay just got rejected, It was paperless :/  

Post Emperor Post Emperor
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Kochiro wrote:

FD card don’t make inquiry right ? SBM bank did for Paisabazaar card :/ I am trying to dispute it.

They do enquiry Bro, Same happened with me when I applied FD Basis OneCard…They did enquiry at Experian bureau….& Few days ago for singal FD OneCard CC they Opened another loan account i.e. two Loan account for singal card…. I disputed it & after 5-7 days they closed newly opened Loan account.

Deal Major Deal Major
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some1anywhere964 wrote:

Thanks @bobby_123 good useful info and important for those who may be thinking of re-applying after just few weeks.

Welcome Bro!!

Post Emperor Post Emperor
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Tanmayyy wrote:

Hdfc did that for me as well , application was rejected, asked hdfc why it was rejected, they said they’ll review the application once again , 2 days later got a mail from the nodal officer saying they approved my millenia card and i had the card in my hand after 1 day

Bro Pre-Approved & Saving Account Hone K Baad Bhi At Last Step Documents Upload Karne Padte Hai Kya?….Mere Se ITR/PHOTO/AADHAR/PAN karwaya…Kya Wo physical verification Or KYC bhi karenge?…..26 Ko apply kiya Abhi tak koi status show nhi hora h…..kya main ye maan lu ki Approved ho jaayega?😁

Finance Ninja Finance Ninja
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Spanjaykumar wrote:

Bro Pre-Approved & Saving Account Hone K Baad Bhi At Last Step Documents Upload Karne Padte Hai Kya?….Mere Se ITR/PHOTO/AADHAR/PAN karwaya…Kya Wo physical verification Or KYC bhi karenge?…..26 Ko apply kiya Abhi tak koi status show nhi hora h…..kya main ye maan lu ki Approved ho jaayega?😁

Nhi , no docs needed if u have pre-approved offer showing in netbanking. Kyc nhi hogi koi bhi.

Deal Newbie Deal Newbie
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Spanjaykumar wrote:

They do enquiry Bro, Same happened with me when I applied FD Basis OneCard…They did enquiry at Experian bureau….& Few days ago for singal FD OneCard CC they Opened another loan account i.e. two Loan account for singal card…. I disputed it & after 5-7 days they closed newly opened Loan account.

is it possible to remove account from cibil if it’s closed before a month 

Post Emperor Post Emperor
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Kochiro wrote:

is it possible to remove account from cibil if it’s closed before a month 

Removing account from CIBIL not possible Bro, it is possible only if account doesn’t belong to you.

Post Emperor Post Emperor
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Tanmayyy wrote:

Nhi , no docs needed if u have pre-approved offer showing in netbanking. Kyc nhi hogi koi bhi.

Bro! But At Last I Uploaded ITR/PAN/AADHAR/PHOTO… Its means not pre-approved offer & I dont think My Application will approve now….. HDFCBANK sending me spam Mail ☹️.

https://cdn0.desidime.com/attachments/photos/771147/medium/Screenshot_2022_0528_184643.jpg?1653803636

Finance Ninja Finance Ninja
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Spanjaykumar wrote:

Bro! But At Last I Uploaded ITR/PAN/AADHAR/PHOTO… Its means not pre-approved offer & I dont think My Application will approve now….. HDFCBANK sending me spam Mail ☹️.

https://cdn0.desidime.com/attachments/photos/771147/original/Screenshot_2022_0528_184643.jpg?1653803636

@xxxyyyzzz was also getting same emails , maybe he can help

Deal Newbie Deal Newbie
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Spanjaykumar wrote:

Bro! But At Last I Uploaded ITR/PAN/AADHAR/PHOTO… Its means not pre-approved offer & I dont think My Application will approve now….. HDFCBANK sending me spam Mail ☹️.

https://cdn0.desidime.com/attachments/photos/771147/original/Screenshot_2022_0528_184643.jpg?1653803636

Why not select student if you don’t wanna upload docs :/ that’s what I did

Post Emperor Post Emperor
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Kochiro wrote:

Why not select student if you don’t wanna upload docs :/ that’s what I did

Bro Self Employed Ke Naam Se Hi Application Rejected Ho Jati H….Phir Student Select Karta To Instantly Hi Rejected Hoti….Mujhe Documents Upload Se Koi Issue Nhi H Bro….Bas Reject Na Ho 

Post Tycoon Post Tycoon
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I apllied for hsbc visa platinum on last saturday {21st may} till now no update from their end. BTW Video kyc is also done on thr same day!!

Post Tycoon Post Tycoon
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callme_shri wrote:

I apllied for hsbc visa platinum on last saturday {21st may} till now no update from their end. BTW Video kyc is also done on thr same day!!

When can I expect the card delivery or where can I track the status of the card application

Perfectionist Perfectionist
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callme_shri wrote:

When can I expect the card delivery or where can I track the status of the card application

No way to check status as it’s handled by third party
So just wait for email or call

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