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

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2022-05-27

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:

This cooldown period only applies to regular applications where you approach the bank for applying credit card and get rejected for any reason.
In case you get a pre-approved credit card offer, the cooldown period doesn’t apply.
In case you apply for a secured credit card against Fixed Deposit, the cooldown period doesn’t apply.
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:

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).
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

https://www.desidime.com/discussions/credit-card-rejected-here-s-the-cooldown-period-you-have-to-wait?page=5#post_8477136

bikidas2060

2022-05-27

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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.

https://www.desidime.com/discussions/credit-card-rejected-here-s-the-cooldown-period-you-have-to-wait?page=5#post_8477073

TechnoFrendz

2022-05-27

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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.

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https://www.desidime.com/discussions/credit-card-rejected-here-s-the-cooldown-period-you-have-to-wait?page=5#post_8935081

some1anywhere

2022-12-01

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Can the experts clarify if the cooldown period is from the date of application for the card which got rejected or from the date of rejection (when they inform that it has been declined?)

https://www.desidime.com/discussions/credit-card-rejected-here-s-the-cooldown-period-you-have-to-wait?page=5#post_8956779

samss

2022-12-07

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some1anywhere wrote:
Can the experts clarify if the cooldown period is from the date of application for the card which got rejected or from the date of rejection (when they inform that it has been declined?)

It's from date of rejection.