Axis bank credit card

[raj..]

I have received pre-approved offer for axis bank airtel credit card and I applied for it. After that my video kyc was compled and their agent came to my home & office for verification. No income docs was taken as it was pre-approved offer. After that I received 1 call from my city branch about the confirmation of the physical verification and also received call from their head branch about the status of my card and lastly I was told that the card will be delivered within next 7-14 days. I was tracking the application from their website and it was showing in process. But 20 days passed and no updates from their side then I tracked the application and it's showing please enter correct details. I have contacted their customer care several times but no response from then only saying it is in process. I called the verification agent and city branch and they're also saying same. I mailed their PNO about this and after 7 days he's telling that my card was rejected due to their internal policy. I asked him for proper reason of rejection but received same reply.

Can anyone know how pre-approved offer was rejected and is there any way to know the rejection reason.
My cibil was 780+ that time and no enquiries for last 10 months and 5% utilization and no payment failures.
Should I complain to RBI ombudsman?

 

[hitirfan]

Where did u receive this offer?

 

[raj..]

Where did u receive this offer?

Airtel thanks app and also received call from axis bank about the offer.

 

[hitirfan]

Airtel thanks app and also received call from axis bank about the offer.

Airtel Thanks app shows that to almost everyone. Doesn't mean it's pre-approved. Do you have any relationship with the Axis Bank like Savings account or something else?

 

[raj..]

Airtel Thanks app shows that to almost everyone. Doesn't mean it's pre-approved. Do you have any relationship with the Axis Bank like Savings account or something else?

I have received call from axis too about the offer.
And they've not asked for income related things too. After giving my pan & address directly video kyc was done.

No i don't have any relationship with them, applied for same card 2 years back but that time it was rejected due to less credit history(it wasn't pre-approved that time).
But this time received pre-approved message o the app and what'sapp.

 

[hitirfan]

I have received call from axis too about the offer.
And they've not asked for income related things too. After giving my pan & address directly video kyc was done.

No i don't have any relationship with them, applied for same card 2 years back but that time it was rejected due to less credit history(it wasn't pre-approved that time).
But this time received pre-approved message o the app and what'sapp.

Doesn't mean pre-approved if you are not existing customer of bank.

Try getting Axis Neo first then after 3 momths u can apply for Airtel Axis from the app, which will be approved instantly.

 

[raj..]

Doesn't mean pre-approved if you are not existing customer of bank.

Try getting Axis Neo first then after 3 momths u can apply for Airtel Axis from the app, which will be approved instantly.

Okay thanks for the info I'll do that.
And what about rejection, they've informed me about that, also when I asked about the status of the card they've said rejected due to their internal policy reasons but didn't said the proper reason. I have asked again but received same mail from PNO.

 

[hitirfan]

Okay thanks for the info I'll do that.
And what about rejection, they've informed me about that, also when I asked about the status of the card they've said rejected due to their internal policy reasons but didn't said the proper reason. I have asked again but received same mail from PNO.

Banks usually don't inform about the exact reason of rejection.

 

[raj..]

Okay.

 

[raj..]

Banks usually don't inform about the exact reason of rejection.

New update is I filed complaint with rbi ombudsman about not notifying rejection of card.
After rbi complaint Received 5k as compensation from axis bank, but they've not disclosed the rejection reason.

 

[Personal Finance by Nish…]

New update is I filed complaint with rbi ombudsman about not notifying rejection of card.
After rbi complaint Received 5k as compensation from axis bank, but they've not disclosed the rejection reason.

As per my experience working with multiple Indian and international banks, here is my response to your query. Hope it will help you:

*Pre-approved Credit Card Offers:*

Pre-approved credit card offers are invitations from banks or credit card issuers to apply for a credit card, indicating that you're likely to be approved. Here's how it works:

1. *Data Analysis*: Banks use various data sources, including credit bureaus (e.g., CIBIL), to analyze your credit history, income, and other factors.
2. *Pre-approval Criteria*: Based on their analysis, banks set pre-approval criteria, such as credit score ranges, income thresholds, and other parameters.
3. *Pre-approval Offers*: If you meet their pre-approval criteria, you'll receive an offer, usually via email, SMS, or postal mail.
4. *Application and Verification*: When you apply, the bank will verify your details and perform additional checks before finalizing the approval.

*Credit Card Rejection Reasons (Despite a 780+ CIBIL Score):*

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.

 

[hitirfan]

New update is I filed complaint with rbi ombudsman about not notifying rejection of card.
After rbi complaint Received 5k as compensation from axis bank, but they've not disclosed the rejection reason.

Yeh b theak hai

 

[raj..]

As per my experience working with multiple Indian and international banks, here is my response to your query. Hope it will help you:

*Pre-approved Credit Card Offers:*

Pre-approved credit card offers are invitations from banks or credit card issuers to apply for a credit card, indicating that you're likely to be approved. Here's how it works:

1. *Data Analysis*: Banks use various data sources, including credit bureaus (e.g., CIBIL), to analyze your credit history, income, and other factors.
2. *Pre-approval Criteria*: Based on their analysis, banks set pre-approval criteria, such as credit score ranges, income thresholds, and other parameters.
3. *Pre-approval Offers*: If you meet their pre-approval criteria, you'll receive an offer, usually via email, SMS, or postal mail.
4. *Application and Verification*: When you apply, the bank will verify your details and perform additional checks before finalizing the approval.

*Credit Card Rejection Reasons (Despite a 780+ CIBIL Score):*

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.

Very good info. Everyone should read this info. Thanks for sharing.

 

[raj..]

Yeh b theak hai

Ha ha ha, fokat ka pesa milgaya.
They have given this as they haven't informed me that my card application is rejected.

 

[Personal Finance by Nish…]

Very good info. Everyone should read this info. Thanks for sharing.

You’re very welcome.