Many times it is seen that people apply for credit cards, but do not get credit cards. Often people get upset of not getting credit cards. Delay time is just normal, but sometimes it is delayed due to rejection of the application. Indeed, some important points need to consider before applying bank credit card. Let’s see what can be the reasons for the rejection of credit card applications.
Before issuing the credit card the issuing bank try to find out the ability of a person to repayment. For this the bank demands Form 16 or salary slip from the person. If its annual income is not covered under the bank slot, then that person application is discarded.
Banks prepares a list for companies which they think are unsafe to give credit card to their employees. So, if you are working in the company that Bank has put in the blacklist then also your credit card application is discarded.
Bank also discards the application of a person whose credit score is not good. Means who usually delay in paying EMI or who is in the defaulter list of paying loan.
Also in case of any wrong information provided while doing physical verification, the credit card application is discarded.
Moreover, every bank has its own rule either to issue the credit card or not. Also, the bank will not let the people know the reason behind the rejection of their application.