Why is the credit card not approved?

There are several common reasons why a credit card application is rejected:

1. The applicant does not meet the most basic requirements The conditions for applying for a card include being under 18 years old, or being too old, exceeding the bank's restrictions, and having no stable source of income and being unable to prove your ability to repay.

2. Have a bad credit record. This is also a main reason why many card applicants with high education and high income are rejected. If the applicant has a record of overdue credit card or overdue loan repayment, personal tax will be imposed. If there is a bad record in the credit card system, it will be very difficult to apply for a credit card again.

3. There is no credit card business in the area. In some third- and fourth-tier cities and rural areas, banks do not carry out credit card business. It is more difficult for users in the above areas to apply for credit cards.

4. Credit-blind accounts. People who apply for a credit card for the first time have no previous credit record. It is difficult for banks to judge their credit quality, so their card application is easily rejected.

5. There are too many credit cards from other banks, and the credit limit exceeds the risk control threshold recognized by the bank, so the card application is rejected.

Credit card usage

1. Swiping cards at POS machines

Swiping cards at POS machines is the most common way to use credit cards, and it is a way of swiping cards online. When swiping a card, the operator should first check the credit card's validity period and cardholder's last name and other information. Then, select the corresponding POS machine according to the card issuing bank and the currency type to be paid, and slide the magnetic stripe of the magnetic stripe credit card on the POS machine, or insert the chip credit card into the card slot, connect to the bank, etc. for payment, and enter the corresponding amount. After the remote payment accepts the information, the POS will print out a receipt for the card payment (at least two copies). The cardholder should sign the receipt after checking that the information on the payment receipt is correct. After the operator checks the signature on the receipt and the signature on the back of the credit card (including that the name completely matches and the handwriting basically matches), the operator gives the credit card and a copy of the card payment receipt to the cardholder. At this point, the card swiping procedure on the POS machine is completed.

2. RFID machine taps the card

Taking the card on the RFID machine is a new type of credit card usage method, and it is also a networking method. When tapping a card, the operator should first check the credit card's validity period and cardholder's last name and other information. Then, select the corresponding card machine according to the card issuing bank and the currency type to be paid, enter the corresponding amount, and place the credit card flatly no more than 10cm above the sensor. The RFID machine will emit a signal after sensing the credit card, and then continue the operation process. After the remote payment accepts the information, the printer (if connected) will print out a receipt for tap-card payment, but unlike the previous method, the cardholder does not need to sign, such as The previous method is faster and more convenient. At this point, the card sensing program on the RFID machine is completed.

3. Online payment

From the perspective of cardholders, online payment is considered to be the riskiest among several credit card payment methods, because people with malicious intentions Phishing, eavesdropping on network information, and fake payments may be used to steal user information. When paying online, you need to enter the validity period of the credit card, the Visa CVV2 code/MasterCard CVC2/UnionPay CVN2 number next to the signature column on the back of the card, the online transaction password, and sometimes you need to enter your name, a verification code randomly generated by the web page, etc. After the input is completed, click Submit to complete the online payment. With the development of the Internet, the security of online payment and credit card payment has gradually improved, which has also set off the trend of online consumption.

Why the credit card application failed

Whether the credit card application can be successful depends on the applicant’s own conditions and the bank’s “needs”. Sometimes the personal conditions are good, but the bank's card issuance task for the year has been completed, so the credit card application may be rejected at this time, so the rejection of the credit card application may only be caused by a small factor.

If your credit card application is not approved, will it affect your credit record? What impact will it have?

If your credit card application is rejected multiple times, it will have negative consequences!

Every time you apply for a credit card, including the second card of most banks, the bank will check the applicant's credit record, and there will be an additional query record of "credit card approval" in the credit report. For example, if you apply for credit cards from 3 banks in a short period of time, your credit report will have 3 query records. When you apply for a credit card from a fourth bank, the fourth bank will also query your credit record, and you will find that there have been 3 inquiries recently. The credit card application is recorded. If there are multiple credit card application records in the past, but no credit card approval is passed, then there is a high probability that the credit card application from the fourth bank will also be rejected. Why?

Applying for a credit card multiple times in a short period of time will make the bank feel that the applicant may be short of money or have other impure motives for applying for a card. In addition, it would be very dangerous if multiple applications for a credit card are rejected. It may be because the applicant has certain risk issues. In order to avoid risks, later banks may not do other reviews and reject them directly, which can also save time.

After a credit card application is rejected, what should I do with subsequent applications?

1. Don’t apply for credit cards from the same bank frequently, because rejection is likely to be due to the applicant’s unsatisfied conditions and it is impossible to improve in a short period of time, so it is best to wait 3 months or even longer before applying again. .

2. If your application for credit cards from multiple banks within a short period of time is rejected, it will also take a few months before you can apply for credit cards from other banks.

3. If your conditions are not good enough, do not apply for multiple banks at the same time. For example, if you have no house, no car, no social security, and your salary is cash, you should apply for more than 4 banks at the same time within a month. If you have a bank credit card, the approval rate is very low.

Why can’t you apply for a credit card before?

This is the first time you apply for a card. Since you are applying for a card for a white account, your credit record is blank and the bank does not know your repayment ability. and economic conditions.

So in order to control risks and avoid bad debts, banks will not approve cards for cardholders. Even if they are approved, they will only grant a very low limit.

Applicants for credit cards can be divided into units and individuals. Applicants should be institutions, enterprises and business units, foreign-funded enterprises and individual industrial and commercial households with independent legal person status in my country. Each unit applying for a credit card can receive a main card and multiple (5-10) supplementary cards as needed.

The application method is generally by filling in a credit card application form. The content of the application form generally includes the name of the applicant, basic information, economic status or source of income, guarantor and his/her basic information, etc. And submit certain copies of documents and certificates to the card issuing bank. After the customer fills in the application form truthfully according to the content, the customer must also submit the relevant credit certificate while submitting the completed application form.

The application form is accompanied by a contract for using the credit card. The applicant authorizes the card-issuing bank or relevant departments to investigate its relevant information, and submits a statement of the authenticity of the information, the card-issuing bank's privacy protection policy, etc., and must have an application A person's autograph.

After receiving the application form and relevant materials from the applicant, the card-issuing bank must review the applicant's creditworthiness. The content of the review mainly includes whether the content of the application form is true. For the applicant, the creditworthiness of the applicant must be assessed. For individuals, the relevant circumstances of the guarantor must also be reviewed.

Usually, banks will judge whether to issue a credit card to the applicant based on the application information and various aspects of the applicant's information and financial situation. Factors considered include the applicant's past credit record, the applicant's known assets, professional characteristics, etc.

The specific factors and processes reviewed by the card issuing bank are commercial secrets and are generally difficult for outsiders to understand. The standards of each card-issuing bank are also different. Therefore, the same materials may be issued with different credit limits and different types of credit cards in different banks. Some banks may even approve the application, while others may reject it. .

Since the card is sent by mail after the credit card application is approved, there is no guarantee that the recipient is the applicant.

In order to protect applicants and banks from fraud losses, the credit card has set up a card opening procedure before it is officially launched. Card opening is mainly done by phone or online. The relevant personal information provided during the application is checked. Once the information is met, the card opening process is completed.

At this point the applicant becomes the card holder and can officially start using it after signing on the back of the card. After opening a credit card, you generally need to set up a password for the card. After a credit card merchant or bank accepts a credit card, it must review the validity of the credit card and the identity of the cardholder.

Why can’t I always apply for a credit card?

1. The age of the applicant does not meet the requirements: Credit card applicants must be Chinese citizens who are over 18 years old and have full capacity for civil conduct.

2. The applicant’s work and income situation does not match: The applicant must have a stable job and a legal source of income. Having a job and income can ensure that the applicant can pay off the credit card account.

3. The applicant's personal credit does not match: The bank will review the applicant's personal credit report. If there is a stain on the personal credit report, the bank will not approve the application.

4. The applicant cannot be contacted: The bank will contact the applicant multiple times during the review period to verify the personal situation. If the mobile phone number or address reserved by the bank is incorrect, the bank cannot contact the applicant. Applicant, the bank will not approve the credit card application.

5. Health reasons of the applicant: If there is a health problem with the application, the bank will conduct risk control on the applicant during the review and consider whether to give the applicant a credit card.

6. Irregular card application intermediaries: Try to choose formal bank institutions when applying. Many intermediaries that collect money to apply for cards and some roadside card application points are intended to defraud money and user information, and cannot approve cards.

7. Frequently submitting applications: Applicants frequently apply for credit cards from the same bank, submit application forms multiple times or cancel submissions multiple times, which is also the reason for insufficient credit card applications.

8. Insufficient comprehensive score: Banks use a scoring system to automatically score users. Cards can only be approved if they reach the score line set by the bank. If the score is not reached, the card will be rejected. The notice "Card issuance refused due to insufficient comprehensive score" received by the user refers to this score.

What are the requirements for credit card application?

Required conditions for applying for a credit card: Applicants must be over 18 years old and have full capacity for civil conduct and the ability to repay debts; have a legitimate and stable job and income and provide corresponding proof of income; personal creditworthiness Good, no bad credit record, etc.

The principal credit card applicant must be over 18 years old.

The maximum age limit for China Merchants Bank, CITIC and Shanghai Pudong Development Bank is 60 years old.

The maximum age limit for Guangfa, Bank of Communications, Minsheng, Ping An and Huaxia is 65 years old.

CCB’s maximum age limit can be extended to 70 years old.

Applicants for supplementary cards are generally 16 years of age or older.

China Merchants Bank and Agricultural Bank of China require applicants to be over 14 years old.

Minsheng Bank and China Construction Bank only require 13 years of age to apply for supplementary cards.

Applicants must have a stable job and legal income, and have a certain ability to repay.

Applicants need to have good personal credit conditions and no bad credit record.

Credit card application also needs to be related to gender, position, housing, education, marriage, real estate, car ownership, professional title, etc.

The higher the comprehensive factor score, the easier it is to apply for a credit card.

Let’s stop here to explain why I have never applied for a credit card.