STANDARD CHARTERED BANK CREDIT CARD

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Deal Cadet
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Anybody can tell me the application and verification process of STANDARD CHARTERED BANK CREDIT CARD.
As I applied from their official website.
Then received
“Your application has been approved-in-principle, subject to the verification of the information provided by you and further credit evaluation by the Bank.

A Bank Representative will contact you shortly to guide you on the next steps of your application processing.
"

Anybody can tell me next step and any chance of rejection?

27 Comments  |  
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Deal Subedar
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They will call you to verify some information ie. address etc.

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Deal Subedar
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DSA WILL call you next, rejection depends on your profile, they don’t like too many card or enquiry in short span, which card did you apply? And ITR?

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Community Angel
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AnnamalaiNryaa wrote:

DSA WILL call you next, rejection depends on your profile, they don’t like too many card or enquiry in short span, which card did you apply? And ITR?

they don’t like too many card

This is not Citi. This is standard charted bank, they issue card on basis of card.

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_One_Miller_ wrote:

they don’t like too many card

This is not Citi. This is standard charted bank, they issue card on basis of card.

Please read with punctuation I said “they don’t like  too many card/ enquiry in short span”

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Deal Cadet
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Card on card.. mine had got delivered in 1 weeks time after the in principle approval on phone.

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Why u applied?, i have 2 cards and i m planning to surrender both.

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hiteshu wrote:

Why u applied?, i have 2 cards and i m planning to surrender both.

Any reason?

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hiteshu wrote:

Why u applied?, i have 2 cards and i m planning to surrender both.

Yes applied, but why u are planning to surrender?

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kurk wrote:

Card on card.. mine had got delivered in 1 weeks time after the in principle approval on phone.

What was the process?
how u applied and what documents u submitted?

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Deal Subedar
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AnnamalaiNryaa wrote:

Please read with punctuation I said “they don’t like  too many card/ enquiry in short span”

This is not true since my card enquiry in two weeks is 5 and still my card got approved

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Deal Subedar
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deals44u wrote:

This is not true since my card enquiry in two weeks is 5 and still my card got approved

That is where DTI comes, check pm

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arnabdimer wrote:

Yes applied, but why u are planning to surrender?

No use at all, no major offer coming, reducing reward day by day. LTF Card converted into spend based waive off. No customer friendly attitude etc etc

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Deal Newbie
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AnnamalaiNryaa wrote:

Any reason?

i also surrendered standard chartered Bank credit card because main reason is they don’t disable international transaction

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Deal Cadet
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dhiraj2222 wrote:

i also surrendered standard chartered Bank credit card because main reason is they don’t disable international transaction

flushed no options there to disable?
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Pro Critic
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ramadesidime wrote:

@AnnamalaiNryaa
What is DTI ? Googled it, but did not get the meaning.

DTI ratio. That is debt-to-income ratio. It is the ratio of your debt-to-income which is calculated by dividing your monthly debt by monthly income. If you have high DTI ratio, banks and lending institutions will most likely reject your credit card application.

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Guys check the complaints on twitter regarding their fraud handling complaints. Looks like they are not good at it at all. This is the reason i am very skeptical to apply for their card. Even Amex cards don’t allow to disable international transactions but their customer service is very good.

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Roushh wrote:

DTI ratio. That is debt-to-income ratio. It is the ratio of your debt-to-income which is calculated by dividing your monthly debt by monthly income. If you have high DTI ratio, banks and lending institutions will most likely reject your credit card application.

Ok, got it.
How do they know debt? Generally, we do not mention in the Credit card application.
Whatever they get from cibil, that only gives the picture of EMIs of home/car/others + billed CCs amount.

Is it about the percentage usage = (Total credit limit + EMIs per year) / Income per year?

If the person is earning 20L per year and he has 10L total credit limit (on CC + EMIs), then it makes sense.

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ramadesidime wrote:

Ok, got it.
How do they know debt? Generally, we do not mention in the Credit card application.
Whatever they get from cibil, that only gives the picture of EMIs of home/car/others + billed CCs amount.

Is it about the percentage usage = (Total credit limit + EMIs per year) / Income per year?

If the person is earning 20L per year and he has 10L total credit limit (on CC + EMIs), then it makes sense.

Any ration above 33% is considered as risky by theese MNC banks and yes bank

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hiteshu wrote:

No use at all, no major offer coming, reducing reward day by day. LTF Card converted into spend based waive off. No customer friendly attitude etc etc

I agree i still have kept it only because it’s life time free.
“No major offer” read it as 0 offers.

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nikhilp1 wrote:

I agree i still have kept it only because it’s life time free.
“No major offer” read it as 0 offers.

Last month i received offer to spend min 30k per month for 3 months to get 1% cashback. Last year it was 5% cashback

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hiteshu wrote:

Last month i received offer to spend min 30k per month for 3 months to get 1% cashback. Last year it was 5% cashback

Same offer for me but minimum spend was 5k

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manish.kumar19 wrote:

Same offer for me but minimum spend was 5k

Yes, but why to use standard chartered card where we are getting more than that without any target from other cards.

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