If the benefits of a credit card is what you are looking for, you can easily apply for one online. However, applying isn’t enough to get the credit card approved. Being an unsecured loan without any collateral on borrowing, the risk is high. As a result, each bank follows a rigorous eligibility criterion, failing to satisfy which can result in the credit card application getting rejected.
Citi credit card application rejected status implies that your application for Citi credit card has not been approved. This occurs when your application is unable to meet the essential parameters for approval. While the bank may or may not provide the Citi credit card rejection reason, you can reach out to the Citi credit card customer care to retrieve more information regarding your application.
Citi credit card reject status can be displayed against your application for any one or more of the below-mentioned reasons-
A good credit score is mandatory for owning a Citibank credit card. A score of 750 and above is considered well enough to apply for cards. Such a score is calculated based on your regularity in paying your credit card bills and loan repayment. If the bank finds your credit score is to be too low, it may lead to your Citi credit card application getting rejected.
If you have changed jobs too many times, within short periods of time, the bank may develop an impression that you are not dependable and can reject your application.
The minimum monthly income requirement for owning a Citi bank credit card varies from one credit card type to another. However, in case your salary is below INR 25,000, the bank may reject your credit card application due to insufficient income.
In case you are employed in a company that does not fall within the bank’s list of approved employers, the bank may perceive your job to be unsecured in nature and reject your Citi credit card application.
To apply for a Citibank credit card, one must be between 23 years and 60 years of age. Failing to be within the age limit, may lead to your credit card application being rejected.
Citi credit card rejection can also occur if your residential address mentioned in the application falls in the defaulter list.
The credit card report throws light on the number of credit cards one owns. If the bank finds that you already own too many credit cards to avail and manage another, the bank might reject your Citi credit card application.
If you are simply enquiring for a credit card, the bank might retrieve your credit score to give you an idea about your eligibility for availing the card. Such an event has no impact on your credit score. However, if you apply for a Citi credit card and the bank requests credit history and score from the Credit Bureaus, finds it to be low and rejects your application, your credit score will be affected.
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Apart from credit score, several other factors determine whether your Citi credit card application will get rejected or approved. These include unstable employment, insufficient income, employment in a delisted private company, residential address in the defaulter list, ownership of multiple credit cards, etc.
Citi credit card application rejected or disapproved status implies that your application for Citi credit card has not been approved. This occurs when your application is unable to meet the essential parameters for approval.