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Credit Card Tips: In today's world, a credit card isn't just a plastic card, but has become a symbol of your financial creditworthiness. From online shopping to emergency expenses, credit cards are needed everywhere. But sometimes, people apply repeatedly, yet the bank rejects their application. So why does this happen? Let's explore 10 major reasons why banks don't approve your credit card application.

The most common reason for a credit card not being approved is a low or poor CIBIL score. If your CIBIL score is less than 700, the bank assumes you're not reliable in repaying your loans on time. Sometimes, delayed EMIs or outstanding old loans also impact your CIBIL.

If you already have multiple loans (personal, home, or vehicle), the bank considers your repayment capacity to be low. This makes it difficult to get approved for a new credit card.

Each bank has its own minimum income criteria. If your income falls below that limit, the bank believes you won't be able to manage the card limit, and therefore, the application is rejected.

Banks always prioritize customers with stable jobs. If you change jobs every few months or your company name is unknown, the bank doubts your repayment stability.

Sometimes, people fill out the form in a hurry and provide the wrong address, incorrect DOB, or incomplete details. When the bank verifies and the details don't match, the application is rejected outright.

If you previously had a credit card and didn't pay the balance on it or the company had to write it off, your new application will almost certainly be rejected.

If you repeatedly apply for a credit card at every other bank, a hard inquiry is conducted each time. This lowers your CIBIL score and makes the bank believe you're desperate for credit, meaning you're at high risk.

If there's a mismatch in your KYC documents, such as Aadhaar, PAN, or address proof, the bank can't verify your identity. In such cases, card approval is immediately blocked.

Every bank has an internal risk assessment policy. Sometimes, your file is fine, but the bank's data analytics system identifies your profile as "high risk," leading to rejection of your application.

If you already have 3-4 cards with a large limit, the new bank may assume you don't need additional credit. In such cases, they may put your application in the "not required" category.

Improve your CIBIL score. Pay EMIs and card bills on time. Start with one card, then gradually increase the limit. Don't apply for multiple cards at the same time. Keep your KYC and income documents up to date. If you've taken a new job, stay there for at least six months.

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