What are the reasons why a credit card application is rejected?
1. When applying for a credit card, the bank will check the applicant's credit report. If the credit report is poor, the card will be refused. This is a credit card rejection. For common reasons, it is recommended to check your credit report before applying for a credit card.
2. The repayment ability is weak. The bank's repayment ability is the key consideration when approving a card. If you cannot submit relevant certificates, the bank is likely to reject it, which requires you to submit financial resources when applying for a credit card. Proof, including employment certificate, property information, vehicle information, etc.
3. For white credit accounts, when the bank checks a person’s credit report, it finds that there is no record. At this time, the bank will have a lot of worries when approving the card, especially whether the cardholder can repay on time. In order to reduce the risk, the bank will refuse to issue the card.
4. The application age does not meet the conditions. Although most banks stipulate that people aged 18 to 60 can apply for a credit card, it will be difficult for older people to apply successfully, mainly because the bank is suspicious of the credit card. payment ability.
5. After submitting the credit card application information, the bank will call you for a return visit. If the call cannot be answered, the bank will refuse to issue the card, so be sure to pay attention to the call from the bank after submitting the materials. Only if the return call is passed Then the bank will not refuse.
What are the reasons why credit card applications are rejected?
The credit card application is rejected. If the application conditions do not change, the probability of the application being approved in the short term is very low. Generally, if you apply for a credit card from the same bank and are rejected again within 3 months, 90% of your applications will be rejected.
It is best to wait 3 to 6 months before applying. The first thing everyone needs to do is to comprehensively analyze the cause and then make targeted remedies. I have sorted out several reasons for rejection of credit card application for everyone. What are the reasons for rejection of credit card application?
1. Do not meet the conditions for applying for a credit card
“Individuals who are over 18 years old, have a stable source of income, and have a good credit record” are the basic conditions for applying for a credit card stipulated by various banks, such as If not satisfied, the card application will be rejected.
On this basis, different banks will have other special requirements for card application conditions. For example, Bank of Communications stipulates that "to apply for a general credit card, the annual salary before tax must be at least 24,000 yuan; to apply for a credit card For a gold card, the annual salary before tax must exceed 80,000 yuan." Women-only credit cards can only be applied for by women. The prerequisite for applying for CET credit cards from various banks is that they must have a private car.
2. The applicant’s comprehensive score is not enough
In addition, the bank will also refer to the applicant’s education, marital status, housing, work situation, income level, property status and other factors for comprehensive evaluation. Evaluate and give a certain score. Only when the comprehensive score meets the card application requirements can you apply for the card, otherwise it will be rejected.
3. The applicant has a bad credit record
Credit card is essentially a small loan product. In order to reduce the non-performing rate, banks will strictly control new credit card customers. Card applicants with poor credit histories have a higher risk of default and are therefore more likely to be rejected.
In addition, if you have no credit record, that is, you have no credit card account, that is, you have no loan or credit card, it is easy to be rejected when applying for a credit card. This is because credit "white accounts" have no past credit foundation and are difficult to win the trust of banks, and banks will strictly review them.
4. Branch restrictions
Nowadays, most credit card applications require going to a bank branch for an interview. If the bank you apply for does not have a local branch, the possibility of being rejected will change. big.
Because, during the bank's review process, it will also consider whether the card applicant has a branch of the bank in the local area, which involves subsequent maintenance costs. Generally, state-owned banks have more outlets, while commercial banks have relatively few outlets.
5. The choice of card type and bank is inappropriate
Be careful when applying for a card. If your conditions are average, you should avoid choosing high-end cards such as platinum cards from the four major banks when applying. level of cards, the consequences of this are most likely to be rejected.
If you are an ordinary salaryman, it is best to choose a regular card or a gold card when applying for a card for the first time, so that the card application rate will be relatively high. At the same time, when choosing a bank, you can first consider commercial banks.
6. Wrong filling in information
The credit card application form needs to be filled in carefully. Some cardholders do not pay attention to filling in the information, thinking that it is enough to just write casually. This kind of careless state The result is that the card application is rejected.
Think about it from another perspective. In fact, filling out the form carefully is also the first step for you to show your integrity. At the same time, it is to prevent the bank from having any surprises during the return visit. Either the bank cannot contact the person or the information does not match.
7. Miss the return call from the bank
When banks review your information, they will always call you to verify it. Some banks may miss the call once, resulting in the rejection of your credit card application. Be careful to answer return calls and don't reject bank calls as harassment calls.
After the card application is rejected, the bank will send a text message to inform you of the general reason, or you can consult the customer service staff of the card-issuing bank to learn about the situation. If the information is incomplete, just make up the information; if the credit status is not good, improve your credit first and then apply for a card.
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 mailing 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. In addition, you can increase your credit card limit by swiping your card more frequently. At the same time, you must pay off your bills 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 funds. 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 is the credit card application rejected?
The credit card application is rejected for the following reasons: 1. The card applicant does not meet the most basic card application conditions and may be under 18 years old or over the age of 18. Large, exceeding bank limits.
2. Have a bad credit record, that is, the applicant has a record of overdue credit cards or overdue loan repayments, and there is a bad record in the personal credit reporting system.
3. There is no credit card business in the area.
4. The applicant is a credit card holder. People who apply for a credit card for the first time have no previous credit record. It is difficult for the bank to judge the quality of their credit, so it is easy for the card application to be rejected.
1. There are usually four reasons for failed credit card application:
1. Personal credit is too low. If the user's personal credit has had a bad record before, the bank may reject the user's application.
2. The information is not filled in completely enough. If the user's information is not complete enough, it will be difficult for the bank to evaluate the applicant's situation, so the credit card application may fail.
3. The information is false. If the applicant fills in false information in the company name, phone number, position, income, etc. during the filling process. This may also cause your credit card application to fail.
4. The conditions are not up to standard. If a user applies for a higher-level credit card when his or her own conditions do not allow it, the application may fail.
5. The user's credit card application is rejected mainly due to the following reasons: the user's age does not meet the requirements; the user has a bad credit record in the credit report; the user does not have a stable job and income; the user's debt ratio High; the user's credit report has been compromised, and there are a large number of loan approval and credit card approval inquiry records; the user is a blacklisted user of the bank. In addition, for users, after a credit card application is rejected, the user should apply again after a period of time, so as to facilitate the credit card approval.
6. Problems found in the investigation: If the applicant's debt is too high, or the original credit card overdraft limit is too high, and the loan has not been repaid, the bank will consider you to be at a high risk of overdue repayment, and you may not be able to obtain a credit card. Very little sex.
7. Personal credit reports with risky information or bad records are the main reasons why most people’s credit cards are declined. A "white account" refers to a person who has no historical record in his personal credit report, so it is difficult for banks to identify the user's credit status. When the applicant's occupation is low-risk, high-income or stable, registration is easily approved.
2. Have a bad credit record, that is, the applicant has a record of overdue credit cards or overdue loan repayments, and there is a bad record in the personal credit reporting system.
3. There is no credit card business in the area.
4. The applicant is a credit card holder. People who apply for a credit card for the first time have no previous credit record. It is difficult for the bank to judge the quality of their credit, so it is easy for the card application to be rejected.
1. There are usually four reasons for failed credit card application:
1. Personal credit is too low. If the user's personal credit has had a bad record before, the bank may reject the user's application.
2. The information is not filled in completely enough. If the user's information is not complete enough, it will be difficult for the bank to evaluate the applicant's situation, so the credit card application may fail.
3. The information is false. If the applicant fills in false information in the company name, phone number, position, income, etc. during the filling process. This may also cause your credit card application to fail.
4. The conditions are not up to standard. If a user applies for a higher-level credit card when his or her own conditions do not allow it, the application may fail.
5. The user's credit card application is rejected mainly due to the following reasons: the user's age does not meet the requirements; the user has a bad credit record in the credit report; the user does not have a stable job and income; the user's debt ratio High; the user's credit report has been compromised, and there are a large number of loan approval and credit card approval inquiry records; the user is a blacklisted user of the bank. In addition, for users, after a credit card application is rejected, the user should apply again after a period of time, so as to facilitate the credit card approval.
6. Problems found in the investigation: If the applicant's debt is too high, or the original credit card overdraft limit is too high, and the loan has not been repaid, the bank will consider you to be at a high risk of overdue repayment, and you may not be able to obtain a credit card. Very little sex.
7. Personal credit reports with risky information or bad records are the main reasons why most people’s credit cards are declined. A "white account" refers to a person who has no historical record in his personal credit report, so it is difficult for banks to identify the user's credit status. When the applicant's occupation is low-risk, high-income or stable, registration is easily approved.
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.
Credit cards, also called credit cards, are credit certificates issued by commercial banks or credit card companies to consumers with qualified credit. It takes the form of a card with the name of the issuing bank, validity period, number, cardholder 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 appointed commercial service departments, and then the bank will make settlements 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 specified 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 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 query 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.
This is the end of the introduction on why credit card applications are rejected and why credit card applications are always rejected. I wonder if you found the information you need?