What are the reasons for failed credit card application?

For many cardholders, they think that as long as their credit report is not overdue, it should be easy to apply for a credit card. However, many cardholders report that their credit card applications are always rejected. In fact, credit card applications are rejected. There are many reasons, and credit reporting is only one of them. There are also some other special reasons. If you don’t do the right things, your credit card application will be rejected. So today Xiao Qin will share with you the reasons why your credit card application is rejected and how to get rid of it. The solving skills allow us to easily get rid of the card. If you are interested, please continue reading!

1. Insufficient comprehensive score

I believe this is the reason why many cardholders are rejected. What is insufficient comprehensive score refers to your internal big data in the bank, your personal Credit report is external big data. Your credit report is not overdue, but you need to prepare the internal data of the bank you are applying for to build the bank's attention and improve your internal score in the bank. Otherwise, you will do nothing to apply. will be rejected by the bank, so how to improve the attention of the bank and create a comprehensive score? Interested cardholders can consult Xiaoqin WeChat to learn.

2. Card type selection

Credit cards also have levels. The higher the level of the card, the higher the requirements for applicants. If you don't apply based on your actual qualifications, you're likely to be rejected. On the contrary, if you can choose the card type based on your personal qualifications, your success rate will increase a lot.

3. Too many multiple credit extensions

Multiple credit extensions refer to the behavior of two or more financial institutions granting credit to the same customer, which includes credit cards. , credit, and credit lines from various financial institutions. When a person has too many credit institutions, it is easy for the credit limit to be too high, causing the credit card application to be rejected due to multiple credit extensions. Currently, construction, investment, agriculture, people's livelihood, and Guangfa have multiple credit extensions. It's very strict. Is there any way to break it?

1. Optimize credit reporting

Credit reporting flowers or inquiry records exceeding the limit are also a type of multi-credit credit. Credit reporting flowers and cardholders whose inquiry records have exceeded the limit should stop proceeding first. To apply, use the technique of "creating 3 credit accounts with N single currency cards". In 3 months, you can directly isolate the original query over-limit records and directly achieve the effect of reshaping the credit report. If you don't know how, you can consult a professional. Qin WeChat learning.

2. Cancel unused credit platforms

You once had a financial platform with authorized quotas. If you no longer use it, it is recommended to cancel it directly. Generally, financial platforms with authorized quotas , are all subject to credit review at the meeting, and will also affect the credit extension of long-term investors.

3. Create high-quality credit cards

Many people think that the more credit cards, the better. In fact, it is usually enough to create 3-6 cards. It is not about having many cards, but about being precise. No matter how many credit cards you have, Many, they are just a bunch of food cards, which will not help you to increase your credit limit, and will also affect the bank to give you a higher credit limit, so according to your current bank situation, you can cancel credit cards from banks with little room for improvement. After streamlining, by using special "intensive card" techniques to increase the credit limit, you can easily achieve a total credit limit of 500,000!

Reasons for credit card rejection

A credit card application may be rejected for the following reasons:

1. Incomplete application information: Some key information is missing from the credit card application information. For example, there is no detailed fixed residential address.

2. Credit stain: If the applicant has a bad credit record, the bank will refuse to approve the credit card.

3. Malicious cash withdrawal: The applicant has made malicious cash withdrawals from other banks, so the bank refuses to apply for a credit card.

4. Falsification of job information: application materials. The unit information and job information above must be consistent with the actual situation, otherwise it will be rejected.

5. Bank limits the number of approvals: There is a limit to the number of credit cards that banks can approve every day. If the number exceeds the limit, it will be rejected.

A credit card, also called a credit card, is a credit certificate issued by a commercial bank or credit card company to consumers with qualified credit. It takes the form of a card with the issuing bank's name, validity period, number, cardholder's name and other contents printed on the front, and a magnetic stripe and signature strip on the back. Consumers holding credit cards can shop or consume at specially designated commercial service departments, and then the bank will settle the accounts with merchants and cardholders. Cardholders can overdraft within the prescribed limit.

Credit cards stipulated in the relevant laws of our country ("Interpretation of the Standing Committee of the National People's Congress on Relevant Credit Card Regulations") refer to credit cards issued by commercial banks or other financial institutions with the functions of consumption payment, credit loans, transfer settlement , cash deposit and withdrawal and other full or partial functions of the electronic payment card. On December 1, 2017, the "English Translation and Writing Standards in the Public Service Field" was officially implemented, stipulating that the standard English name of credit cards is CreditCard.

Credit card consumption is a non-cash transaction payment method. There is no need to pay cash when consumption, and repayment will be made on the billing date (BillingDate).

Credit cards are divided into credit cards and quasi-credit cards. Credit cards refer to credit cards in which the cardholder has a certain credit limit and can consume within the credit limit and then repay; quasi-credit card It refers to a quasi-credit card in which the cardholder deposits a certain amount of reserve fund as required. When the reserve account balance is insufficient to pay, the cardholder can overdraw within the prescribed credit limit. The so-called credit card generally refers to a credit card only.

Starting from January 1, 2021, the credit card overdraft interest rate will be determined independently by the card issuer and the cardholder through independent negotiation, and the upper and lower limit management of credit card overdraft interest rates will be cancelled. The daily interest rate is 0.7 times 5/10,000).

On May 25, 2021, the Supreme People’s Court issued and implemented the “Regulations of the Supreme People’s Court on Several Issues Concerning the Trial of Bank Card Civil Cases.”

Why is the credit card application declined?

Reasons for rejection of credit card applications:

1. Unclear personal credit report

It is normal for those with poor credit records to be rejected when applying for a credit card. Before applying, be sure to check your credit report for the past year.

2. The basic conditions are not up to standard

You are underage or your job is not stable enough, which makes the bank feel that you have no ability to repay.

3. There are problems with the application materials

On the one hand, applying for a credit card requires the preparation of complete information, ranging from basic personal information to proof of financial resources. If the applicant provides detailed application information and it can be effectively verified, the possibility of credit card approval will be greatly increased. On the other hand, filling out the application form is also a technical job. For example, the recommender, company phone number, and card sending address in the application form are all bonus points for applying for a credit card, so don’t ignore them easily!

4. The overall credit score is low and average

Possibly It is because a certain factor in your personal qualifications is not up to standard, causing the comprehensive score to fail to meet the requirements stipulated by the bank. Therefore, in daily life, you must pay attention to all aspects.

5. Frequently apply for credit cards

When the bank approves the credit card applicant's information, it will query the applicant's credit report. Therefore, a record of the bank's credit report will be left. If an applicant applies for credit cards intensively in a short period of time, the bank may easily suspect him of being a high-risk customer, which may lead to his card application being rejected.

Notes on using credit cards:

1. Pay attention to two dates: billing date and repayment date

Generally, the repayment date is 20 days after the billing date. Or 25 days, if the card is swiped one day after the bill date, the interest-free period will be the longest, if the card is swiped the day before the bill date, the interest-free period will be the shortest.

2. Protect the credit card information

The three most critical information on the credit card: validity period and CVV code affect the security of your card use. Especially the CVV code, which is as important as the password. It is recommended to use correction fluid or stickers to cover the CVV code. Some people even use a razor blade to scratch off the CVV code and keep those three numbers in mind.

3. Only by swiping your card frequently will you be able to avoid annual fees; only by paying your bills on time can you increase your credit limit

Generally, the annual fee will be waived if you swipe your credit card six times. Therefore, you must pay the annual fee, swipe your card more often, and increase your credit card limit. At the same time, pay back on time and maintain a good credit record. This is also a way to increase your credit limit. Moreover, mobile POS cardless payment is also very convenient and belongs to online consumption. Combined with daily offline consumption, multiple combinations can be used.

4. Choose the repayment method that suits you best

In this information age, repayment methods are diversified, and you don’t have to go to a bank branch or teller machine to transfer money. Repayment.

5. If it does not work, or the repayment is delayed due to something, you can call customer service to apply for an extension of repayment

If your funds cannot be turned over temporarily, or the repayment is delayed due to something. Don’t worry about repayment, call the bank customer service immediately and apply for an extension of one to three days to repay.

Why are credit card applications always rejected? There are these reasons

In daily life, many people use credit cards for consumption. Compared with bank loans, the threshold for credit cards is still relatively low. However, many people are still rejected when applying for credit cards. Most of them are because they did not pay attention to the details. Here are some common reasons for credit card rejections, hoping to help everyone.

1. The income is too low

I applied for a credit card based on my ability and said that I don’t have to pay it back. After all, the money in the credit card belongs to the bank. It just allows you to overdraw in advance, so I applied for it. A person's income directly affects his or her repayment ability. If the income is too low and the repayment ability is not good, the bank will definitely refuse to approve the card without even thinking about it.

2. Missed calls

Many banks will call back during the review process for those who apply for a credit card for the first time or apply for a card online to verify that the applicant’s information is true. sex, whether to apply in person. If the applicant misses or rejects the application, it is very likely that the credit card will be rejected. So everyone should pay attention to answering. If you are busy, you should say yes to the other party instead of refusing to answer.

3. Debt is too high

High debt will also affect the ability to repay. Even if the income is high, but the debt is too much, there will be little left after the monthly income is used to repay the debt. For daily expenses, if you use a credit card to overdraft, it is easy to have no money to repay.

4. High-risk occupations

If you work in the service industry, high-risk occupations, or sales-type high-risk occupations, unstable income may also lead to credit card rejection.

5. Bad credit report

It does not necessarily mean that you have bad credit. If you apply for credit cards and loans from many banks in a short period of time, there will be too many inquiry records left in the credit report system. , this kind of hard inquiry will make the bank think that the applicant is very short of money, and it is risky to approve the card for them.

Why is the credit card application rejected?

What are the reasons why the credit card application is rejected, and what are the reasons why the credit card application cannot be accepted.

Reasons for users being rejected when applying for credit cards: frequent applications for various credit services in a short period of time; poor personal credit, with overdue records in the credit; personal debt ratio is too high and repayment ability is insufficient; there is no stability job and income; does not meet the age requirement for applying for a credit card; the user has been blacklisted by the bank.

When the above situation occurs, the user's credit card application will be rejected. The user must solve the problem first and then apply for a credit card. Repeated applications will only cause the personal credit report to be ruined.

What are the reasons for failure to apply for a credit card?

1. Age does not meet the requirements: Generally speaking, if the user is 18 years old and above, then he or she can apply for a credit card. However, some banks or some card types have stricter requirements, requiring you to be between 22 and 23 years old.

2. Too many credit cards have been applied for: Because users rely on their current credit to apply for loans or credit cards, banks will have an estimated upper limit. If you have applied for multiple credit cards at the bank and the credit limit is close to the upper limit, then you may easily be rejected if you apply again.

3. Personal repayment ability is average: Credit card debt must be repaid every month, which naturally requires users to have a stable source of economic income. It is very difficult for people without jobs to apply.

4. Credit reporting: If the user has had serious overdue payments or has high personal debt, it will be visible on the credit report, and the bank will reject it due to risk considerations.

The following are the credit card channels for Ping An Bank, China Merchants Bank, Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank, China Minsheng Bank, China Everbright Bank, and China CITIC Bank. If you need it, you can apply by yourself!

Credit card application for China Merchants Bank and Ping An Bank

Credit card application for China Everbright Bank and China CITIC Bank

Credit card application for Agricultural Bank of China and Minsheng Bank

Application Let’s stop here to introduce why credit cards are declined.