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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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Deal Newbie Deal Newbie
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What abt UNI card?

Pro Entertainer Pro Entertainer
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Had applied for a card when there wasn’t any pre-approved offer in a family HDFC account. The application got rejected and then later a week started receiving pre-approved emails even with the limit mentioned. But saying I’ve applied recently so can’t apply now. That means gotta wait 6 months right?
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Branch wale bola offline process karna hoga, but in that case I won’t get welcome Amazon Voucher.  https://cdn0.desidime.com/attachments/photos/771164/medium/Screenshot_2022-05-27-17-59-42-13_6012fa4d4ddec268fc5c7112cbb265e7.jpg?1653810005

Mobile Guru Mobile Guru
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The problem is, banks want to lend money for those who don’t want but have good credit history and they don’t want to lend money to those in need but have poor credit rating. Irony of the world. Most elites get many stuff for free and don’t have to spend money. joy

Post Tycoon Post Tycoon
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avgn wrote:

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

In how many days we can expect the card after doing the video KYC

Post Emperor Post Emperor
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Tejaa wrote:

Had applied for a card when there wasn’t any pre-approved offer in a family HDFC account. The application got rejected and then later a week started receiving pre-approved emails even with the limit mentioned. But saying I’ve applied recently so can’t apply now. That means gotta wait 6 months right?
.
Branch wale bola offline process karna hoga, but in that case I won’t get welcome Amazon Voucher.  https://cdn0.desidime.com/attachments/photos/771164/medium/Screenshot_2022-05-27-17-59-42-13_6012fa4d4ddec268fc5c7112cbb265e7.jpg?1653810005

Bro Kya Guarantee H Ki 6 Months baad Amaozn GV wala Offer Available Hoga ya nahi…..Mere Sath bhi Shayad aisa hi hoga….3 days pehle apply kiya tha to wo rejected hoga or phir Pre-approved offer aayega…. lekin m to 6 Months ka wait nhi karunga….offlint hi le lunga😁…..Rahi Amaozn gv ki baat to wo to CRED ka new account bana kar nuksan bharpai kar lunga😉

Pro Entertainer Pro Entertainer
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Spanjaykumar wrote:

Bro Kya Guarantee H Ki 6 Months baad Amaozn GV wala Offer Available Hoga ya nahi…..Mere Sath bhi Shayad aisa hi hoga….3 days pehle apply kiya tha to wo rejected hoga or phir Pre-approved offer aayega…. lekin m to 6 Months ka wait nhi karunga….offlint hi le lunga😁…..Rahi Amaozn gv ki baat to wo to CRED ka new account bana kar nuksan bharpai kar lunga😉

Haha, I was also thinking on a similar line. But offline wala banda almost aa gya tha kal, oh bhi barish me, I told him not to come, now don’t know if he will come or not! laughing

Deal Major Deal Major
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Thunder766 wrote:

OneCard be like – What is cooldown? 

Hhahaha – we are always cool!

Deal Cadet Deal Cadet
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demerius2020 wrote:

mujh to 6 month bola phir after 6 month 4 month aur bhara diya ki apne beech me try kia tha

I got pre approved sms again after 3 months exactly. Applied and got in minutes. But limit was reduced from 2L to 80k also card variant is classic.

Deal Cadet Deal Cadet
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Tejaa wrote:

Had applied for a card when there wasn’t any pre-approved offer in a family HDFC account. The application got rejected and then later a week started receiving pre-approved emails even with the limit mentioned. But saying I’ve applied recently so can’t apply now. That means gotta wait 6 months right?
.
Branch wale bola offline process karna hoga, but in that case I won’t get welcome Amazon Voucher.  https://cdn0.desidime.com/attachments/photos/771164/medium/Screenshot_2022-05-27-17-59-42-13_6012fa4d4ddec268fc5c7112cbb265e7.jpg?1653810005

exact same issue.  I closed my cc in jan…aftertthat whenever clicking the bannerwwhichssays11500 voucher and LTF getting the same error…offlinebbranch people saiduyouccanaapply here but 1500 voucher I doubt and also i ddoubtwwhetheriitwwillbbe LTF or not

Pro Entertainer Pro Entertainer
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raj.azharuddin897 wrote:

exact same issue.  I closed my cc in jan…aftertthat whenever clicking the bannerwwhichssays11500 voucher and LTF getting the same error…offlinebbranch people saiduyouccanaapply here but 1500 voucher I doubt and also i ddoubtwwhetheriitwwillbbe LTF or not

LTF is condition based, so it’s same offline or online. The conditions are printed on the offline form. But this Amazon very unlikely we will get.

Deal Cadet Deal Cadet
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Cooldown period for HSBC bank is 3 months. Please add in list. 

Deal Subedar Deal Subedar
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--AJ-- wrote:

I got pre approved sms again after 3 months exactly. Applied and got in minutes. But limit was reduced from 2L to 80k also card variant is classic.

Waah , 🐵
Deal Newbie Deal Newbie
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Spanjaykumar wrote:

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 

like I said , I selected student and got Moneyback+ with 50k limit

Deal Newbie Deal Newbie
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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!!

how do you apply for hsbc ? c2c possible and do you have to be from metro city?

Deal Newbie Deal Newbie
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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.

does smartpay follow card billing cycle for cashback ? like lets say my billing date is somewhere 15th of the month, will I get smartpay cashback twice in same month or does it follow the actual month for cashback?

Finance Ninja Finance Ninja
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Kochiro wrote:

does smartpay follow card billing cycle for cashback ? like lets say my billing date is somewhere 15th of the month, will I get smartpay cashback twice in same month or does it follow the actual month for cashback?

For HDFC cc right? Smartbuy cashback will be posted within 2 or 3 days on transaction basis.

Deal Newbie Deal Newbie
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Altruist wrote:

The problem is, banks want to lend money for those who don’t want but have good credit history and they don’t want to lend money to those in need but have poor credit rating. Irony of the world. Most elites get many stuff for free and don’t have to spend money. joy

Yeah mate if we had golf course access or some club membership. We will be there at least once a month while rich folks who get the membership for free barely show up.

Deal Newbie Deal Newbie
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prem4998 wrote:

For HDFC cc right? Smartbuy cashback will be posted within 2 or 3 days on transaction basis.

yeah and i got the cashback but smartbuy have cap of 1k rs right ? I bought phone few days ago and got 1k rs from smartbuy. Now if I buy another phone on 1st June, will I get cashback?

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

based on credit score or salary slip ?

Finance Ninja Finance Ninja
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Kochiro wrote:

yeah and i got the cashback but smartbuy have cap of 1k rs right ? I bought phone few days ago and got 1k rs from smartbuy. Now if I buy another phone on 1st June, will I get cashback?

Yes, u will

Finance Ninja Finance Ninja
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jk030753386 wrote:

based on credit score or salary slip ?

C2C

Deal Subedar Deal Subedar
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Kochiro wrote:

like I said , I selected student and got Moneyback+ with 50k limit

Applied online?
Also did you gave any documents?

Deal Newbie Deal Newbie
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M.MAHI wrote:

Applied online?
Also did you gave any documents?

no need to submit documents for students.

Deal Newbie Deal Newbie
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prem4998 wrote:

Yes, u will

so smartbuy is month to month basis and not card billing cycle.

Deal Subedar Deal Subedar
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Kochiro wrote:

no need to submit documents for students.

Just basic details .. ?

Also tell do you have hdfc savings account?

Finance Ninja Finance Ninja
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Kochiro wrote:

so smartbuy is month to month basis and not card billing cycle.

Yes

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

What is the benefits of this perticular card ?

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