Rejected My HDFC Regalia Application.

[Ayan37]

i have offer to new cc through bank account. so i applied for business regalia but my application was declined. i want to know what can get rejection?

 

[Skylar]

i have offer to new cc through bank account. so i applied for business regalia but my application was declined. i want to know what can get rejection?

You can mail their CC
only they can tell the proper reason

 

[guptajoy961]

i have offer to new cc through bank account. so i applied for business regalia but my application was declined. i want to know what can get rejection?

The top reasons why a credit card application may get rejected include:

1. Low credit score: Different credit cards have different minimum credit score requirements. A credit score below 750 is generally considered low and can lead to application rejection.

2. No or limited credit history: If you have not taken out any loans or credit cards before, the issuer may view you as a risky applicant and deny your application.

3. Inadequate income: The card issuer reviews your income to assess your ability to make payments. If your income is deemed too low, your application may be rejected.

4. High debt-to-income ratio: A high ratio of your monthly debt payments to your monthly income can make you appear overextended, leading to a rejection.

5. Errors in the application: Even minor mistakes on the application form can result in a denial.

6. Unstable employment history: Frequently changing jobs can make you appear as a risky applicant to the card issuer.

The good news is that a rejected credit card application does not directly hurt your credit score. However, the hard inquiry from the application can cause a temporary dip in your score. To improve your chances of approval, focus on building your credit history, reducing debt, and providing accurate information on the application.