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• Are your credit card applications always rejected? Uncover the reasons why credit card approval fails

For most friends, the process of applying for a credit card is not smooth sailing. Those who are not qualified enough will inevitably use entry-level cards first and then apply for high-end cards. The editor will talk to you about credit card approval and limit increase.

After a credit card application is submitted, what content will the bank review?

1. Applicant’s basic information,min pay including but not limited to checking name, ID card ID, address, education, professional information, etc. The main purpose is to prevent fake applications (applicants pretend to use other people’s identity information) and forged applications (applicants forge false information) identity, address, professional information). Telephone credit reports are also often used for the above purposes.

2. The applicant’s qualification materials and ofw quick cash loan online financial information are used to confirm whether the applicant meets the card approval requirements and the amount to be awarded.

What are the reasons why credit card approval is not approved?

The reasons are as follows:

1. Credit card credit scoring standards do not meet the access standards. Credit reporting is divided into internal credit reporting and external credit reporting.

Internal credit reporting includes customer credit cards,debt consolidation deposits, financial management, online banking, personal loans, small business loans, etc. External credit reporting includes professional market databases, community resident databases, chambers of commerce and industry chain databases, etc., as well as credit reporting system information.

Some people say that when I applied for a credit card loan, I didn't even get a credit report. In fact, they are talking about an internal credit report. This is the reason why your application was rejected even if your credit score is white. Maybe you have other bank loans with high debt ratios, which caused your application to fail.

The “credit report” that everyone often refers to is the so-called external credit report. Many people only know about the central bank's credit report and think that the credit report represents your data in the bank. In fact, it is not the case. All your data can be checked by the bank. When banks say that credit card credit scoring standards do not meet the access standards, they generally refer to external credit reporting, which is the so-called central bank credit reporting. The composition of the so-called score is the most mysterious part that bank staff are unwilling to disclose. The reason for rejection may be the comprehensive score of overdue, debt and inquiry records. For online loans, it is basically difficult to apply for such loans. So it’s important to protect your credit report.

2. Conflicting information cannot be verified

The contradiction mentioned here refers to the asymmetry of information. For example, when you fill in your work unit, you need to fill in your position, joining date, and work unit phone number. When the bank and credit card customer service responds during a return visit, the information answered by the answerer is inconsistent with the information you filled in. Resulting in the rejection of the card application. Therefore, when you apply for a credit card, you must explain the situation to the recipient in advance to prevent the application from being rejected due to conflicting information.

3. The application is suspected of fraud

Everyone hopes that the credit card they apply for will have a larger limit, but banks have their own criteria for judging large credit cards, including the nature of work, education, assets and real estate, etc. Some people forge their qualification information in order to get a large-value credit card. During the internal audit of the bank, they find that there is no social security, provident fund, real estate or even academic qualifications. If they are all fake, they will definitely be rejected.

4. Serious bad credit report

Needless to say, credit reporting is the most important part of approving a credit card. As mentioned before, credit reporting is divided into internal and external credit reporting. The credit reporting mentioned here is the central bank’s credit reporting. If your credit reporting shows bad debts and is overdue many times, If your card is overdue for more than 3 months, it will become a reason for rejection, indicating that you are a person with extremely poor bank credit, and the bank will not issue a card to such a person.

5. The client’s occupation industry is not suitable for credit investment

Many people don’t know that the industry they work in is also part of the bank’s review. For example, the financial industry, real estate, mining and even some service industries are all objects of rejection by banks. The banking and financial industry knows finance very well and is likely to use financial means to obtain bank funds or even run away. In this way, the gain outweighs the loss for the bank. For example, the mining industry is a high-risk industry. Because the nature of the work is dangerous, banks also have to bear the risks of these people. For banks, risk and insurance banks prefer insurance.