Possible reasons for Credit Card rejection....

Possible reasons for Credit Card rejection....

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Deal Cadet
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hi guys,

what are Reasons for a Bank to reject Creditcard appkication after taking documents….

happened with a frnd recently…
he has Cibil score more than 800…..

He had applied for regular citibank basic card only….. his salary as per itr 7L….
Self-Employed profrssional he is….

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Deal Cadet
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Banks are resistant in giving cards to self employed people in comparison to salaried professionals.

The nature of work also plays a role, for example they would consider interest income or income earned from commissions as not a steady source of income.

They may also check previous years’ ITRs to see if the income is steady and meets their internal requirements.

Other reasons of rejection also include the applicants address. Many banks have blacklisted areas and they do not approve cards if you belong to one of those areas.

You may already have multiple cards with limit much higher than your income.

And possibly more reasons other than the above.

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Deal Lieutenant
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Just head over to manager & hav e atalk.

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Deal Cadet
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1:income (A:salary person preferred) B:selfemployed(max cards getting rejected 2:cibil 3:high loans and basically acc to it returns many cards are getting rejected ex:icici citi etc

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