5 Reasons Why Your Credit Card Application May Face Rejection
Antara Bhattacharyya
Low Credit Score: A poor credit score signals lenders you may struggle with repayments, making banks decline applications to avoid potential financial risk.
High Credit Utilization: If most of your credit limit is already used, lenders doubt repayment capacity and may immediately reject new card requests.
Insufficient Income :Stable income proves repayment ability; low salary or frequent job switches worry lenders, increasing perceived risk and resulting in rejection.
Errors in Documentation or KYC: Incomplete forms, mismatched PAN or address data, or unclear identity proofs slow verification, forcing banks to deny credit card requests.
Too Many Recent Applications: Applying for multiple cards within a period increases hard inquiries, making you seem credit hungry and prompting lenders to reject.