Why the credit card application cannot be approved

The credit card application may not be approved because the credit card applicant failed to meet the card application requirements stipulated by the bank. For example: the applicant is 18 years old or too old, has a bad record in the personal credit system, etc. The essence of a credit card is equivalent to a credit loan, and banks usually have stricter review of loan business.

When banks review credit card applications, they usually require applicants to meet the following points: age, identity information, credit status, work status, personal financial status, etc. Usually the card-issuing bank will impose requirements on the age of credit card applicants. Required to be over 18 years old and below the legal retirement age.

When banks review the credit card applicants’ qualifications, they usually require credit card applicants to provide sufficient personal identity information. Including: phone number, ID number, home address, registered residence, education, degree, marital status, etc. If the personal identity information provided is not comprehensive or true enough, it may be rejected by the bank.

Credit status refers to whether there is any breach of trust in the credit transaction between the credit card applicant and the bank. Usually an individual's credit status is recorded in the system of the Credit Information Center of the People's Bank of China. If there is a bad credit record, it will have an impact on credit card approval.

The work status of the credit card applicant includes: the nature of the work unit, whether it is a public institution or an enterprise unit, whether it is a government agency or a non-governmental organization, as well as the position and level of the unit. Generally, the more stable the job, the more likely the bank will approve the card.

Personal financial status includes salary income status and inherent asset status. Personal financial status reflects a credit card applicant’s repayment ability to a certain extent. The bank will decide whether to approve the credit card application based on the credit card applicant's personal financial situation.

Why can’t I apply for a credit card?

Failure to apply for a credit card does not necessarily mean there is a problem with your credit report. If you can't get a credit card, there may be a problem with your credit report, but it's not certain. Generally speaking, there are three reasons for credit card rejection:

1. Reasons for the applicant’s basic information, such as under 18 years of age, occupation that is prohibited for bank credit cards, insufficient information provided, and insufficient salary information wait.

2. Reasons for the applicant’s credit reporting, such as multiple overdue behaviors, multiple unpaid loans, etc.

3. Other reasons, such as high debt, failure to meet bank requirements, etc.

1) If applying for a credit card, the customer must be over 18 years old and have full civil capacity; and maintain Good personal credit; stable and legal sources of income and the ability to repay on time. However, if you are under 16, you will need to be accompanied by your parents. If you choose to operate a premium platinum card, there will be stricter requirements on the customer's economic and financial level. If you only apply for a savings card, there are no requirements. Customers can bring their personal ID cards to the outlets.

2) Some bad credit records will be permanently on the credit blacklist, which means that you will never be able to get a credit card and borrow a penny from the bank. For some bad credit records, after paying off the debt in full (including overdue penalties, interest and compound interest), there will be no overdue records within 5 years, and all bad records will be automatically cleared after 5 years. That is to say, you cannot apply for a credit card within 5 years, but you can apply for it after 5 years. In some cases, a credit record is perfectly fine, but a credit card cannot be processed.

3) Credit cards are divided into credit cards and quasi-credit cards. A credit card that allows you to make purchases first and then refund the money within your credit limit. A certain amount of petty cash must be deposited into a quasi-credit card. If your petty cash is not enough to cover the expenses, you can overdraw your credit card up to a specified credit limit. The difference between debit cards and credit cards: Credit cards (consumer credit products) consume first and then repay, while debit cards deposit first and use later; credit cards can be overdrafted, but debit cards cannot be overdrafted; credit cards have revolving credit limits, but debit cards have no revolving Credit limit; (Revolving credit refers to the amount approved by the bank for the cardholder. The cardholder does not need to repay the amount owed within the limit. Only the specified minimum repayment amount can maintain a good credit record and re-use it. . Credit limit of the cardholder.)

What are the reasons for not being able to apply for a credit card?

There are many reasons for not being able to apply for a credit card. Examples are as follows:

1. Materials Incomplete, wrong information.

2. The applicant cannot be contacted to verify the information, and the unit cannot find the person.

3. Being on the blacklist means there is a problem with your credit report.

Take ICBC as an example to process credit card processing fees. The steps are as follows:

In addition to ID cards and work permits, ICBC counter processing credit cards also require other financial or property proofs, such as salary and income certificates. , real estate certificate, etc. The relevant materials are as follows:

(1) Copy of identity document. Both primary and secondary card applicants are required to provide it. The identity document refers to one of the resident identity cards, military officer's ID cards, Mainland Travel Permits for Hong Kong and Macao residents, Mainland Travel Permits for Taiwan compatriots, and foreign passports.

(2) Work certification documents. Refers to a copy of the work permit, the original work certificate issued by the work unit, a copy of the professional qualification certificate, and a copy of the professional title.

(3) Copy of proof of fixed residence. Such as house ownership certificate, public housing rental agreement or public housing purchase agreement, etc. Applicants who work in companies (enterprises) are generally required to provide documents proving their own real estate (copies of their own real estate certificate, public housing lease agreement or public housing purchase agreement, housing loan contract, etc.).

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