Amazon pay icici credit card instant rejected

[kaushik_dutta]

I have applied through Amazon pay yesterday apply option was visible so I have instantly applied but got declined. Mail received that due to adverse credit/not meeting policy criteria. I'm using hdfc Swiggy card from last 4 months and IDFC WOW card from last 1.5yrs. I have 1L Personal loan for 24 months. Out of which 3 paid. So now tell me why I'm ineligible for the same. 7 days back I have for axis myzone rupay card same also rejected. That in Google message banner received. So please tell me what to do for the approval. My cibil is 752, Experian is: 750 and equifax is 785.


Please suggest what to do to get the card for the same.

 

[hitirfan]

This Card is very difficult to get for some. You can apply again after 6 months.
With regard to Axis, try applying for Neo Card after 2-3 months. Neo gets approved in most cases. After getting Neo you can get 2 months cards from Axis in a gap of 3 months as pre-approved.

 

[abhimarda]

I have applied through Amazon pay yesterday apply option was visible so I have instantly applied but got declined. Mail received that due to adverse credit/not meeting policy criteria. I'm using hdfc Swiggy card from last 4 months and IDFC WOW card from last 1.5yrs. I have 1L Personal loan for 24 months. Out of which 3 paid. So now tell me why I'm ineligible for the same. 7 days back I have for axis myzone rupay card same also rejected. That in Google message banner received. So please tell me what to do for the approval. My cibil is 752, Experian is: 750 and equifax is 785.


Please suggest what to do to get the card for the same.

Amazon ICICI card is has to get. Also I note that as per ICICI their minimum requirement for any card is 750 cibil score which you barely have. The Amazon card may have higher requirement. Also it seems you have taken one personal loan and a new card in last 4 months and got Axis card rejected just before this rejection indicating to bank that you are credit hungry. The course of action is to reduce your debt, don't apply for any new card, loan for 6 months or so, keep your usage of credit card below 30% so that your credit score improves and then apply for it.

 

[Personal Finance by Nish…]

Note that:

Even with a high CIBIL score, credit card applications can be rejected. Here are some internal bank reasons:

1. *Income Criteria*: Banks may have minimum income requirements, and if your income doesn't meet their criteria, your application might be rejected.
2. *Credit Utilization Ratio*: If your credit utilization ratio is high (i.e., you're using a large portion of your available credit), banks might view you as a higher risk.
3. *Credit Mix and Age*: Banks prefer a diverse credit mix (e.g., credit cards, loans, mortgages) and a longer credit history. If your credit mix is limited or your credit history is short, you might be rejected.
4. *Recent Credit Inquiries*: Multiple credit inquiries in a short period can negatively impact your credit score and lead to rejection.
5. *Employment Stability*: Banks may prefer applicants with stable employment history. Frequent job changes or unemployment might raise concerns.
6. *Geographic Location*: Banks may have specific policies or restrictions for certain geographic locations(negative area etc).
7. *Internal Bank Policies*: Banks have internal policies and risk assessment criteria, which might lead to rejection, even if you meet external credit scoring criteria.

Keep in mind that each bank has its unique policies and criteria. If your application is rejected, you can:

1. *Check your credit report*: Ensure there are no errors or inaccuracies.
2. *Contact the bank*: Ask for specific reasons for the rejection (if not provided).
3. *Apply with another bank*: Consider applying with a different bank or credit card issuer.

Remember to always maintain good credit habits, such as timely payments and responsible credit utilisation, to improve your chances of approval.