Getting your HDFC Credit Card application declined can be discouraging, but there are several factors HDFC Bank considers when considering its customers to approve their credit card applications. Some factors include your income stability, credit score, and eligibility for your credit card application.  

What Does ‘HDFC Credit Card Application Declined’ Mean?  

Getting your HDFC credit card application declined means the bank has reviewed your application and done with the verification procedures but decided not to approve it. Some of the important reasons for getting the HDFC credit card application declined include:  

  • The eligibility criteria for the credit card are not met.  
  • The credit score and credit history do not meet the eligibility criteria.  
  • The documents submitted were either incorrect or insufficient.  
  • There have been multiple entries of missed payments.  
  • The debt-to-income ratio is too high, so the bank cannot take on the risk of granting another credit card.  
  • Your credit profile might be within the high-risk zone.  
  • Your financial profile does not meet the credit card requirements.  
  • There could be internal policies and restrictions. Your employer might be under an unlisted company, the serviceable area may not cover the residing location, or the business might be in the industry-risk category.   

Common Reasons Why HDFC Credit Card Applications Get Declined  

HDFC credit card application declined, though depressing, you need to find the reasons behind the rejection to avoid them in the future. Some of the reasons for the credit card application rejections could be   

  • Insufficient income  
  • Low credit score  
  • High existing debts  
  • Unfavorable credit history  
  • Too many loan applications,   
  • Incorrect KYC documents,   
  • Unstable employment profile.   

You need to work on these reasons to get your credit card application approved.  

What to Do After Your HDFC Credit Card Application Is Declined?

The following is the list of steps to take before the HDFC credit card application is declined. They are:  

  • Read the Bank’s Communication Carefully: HDFC Bank is liable to provide you with a reason behind your credit card rejections. They need to pinpoint whether it is due to your credit score, salary, records, or another factor.  
  • Obtain an Updated Copy of Your Credit Report: Get a detailed report from any credit bureau to identify any slips, defaults, old credit, and discrepancies.  
  • Determine the Exact Cause of Rejection: Find the exact reason for your HDFC credit card application rejections. This could be due to low credit scores, an address mismatch, or a mismatched salary. Getting the exact proof of the credit card application rejections might help you take the following steps. 
  • Contact the Relationship Manager for Clarifications: You can reach out to the customer care executive or the relationship manager at HDFC Bank to have your queries clarified. Reaching out to the bank’s executives can throw some light on the bank’s rejections rather than working on preconceived notions.   

HDFC Credit Card Rejected, But CIBIL Score Is Good – Why?  

A good CIBIL score is one of the primary factors banks consider before declining an HDFC credit card application. But a good CIBIL score alone will not earn a credit card. You need to meet various eligibility criteria to have your HDFC credit card application approved by the banking authorities.   

  • Insufficient Income: HDFC Bank requires a minimum income to approve and process your credit card applications. If you fail to meet the said criteria, your HDFC credit card application is likely to be declined.  
  • High DTI Ratio: When you have a high DTI ratio, it might not be possible to handle one more credit card obligation.  
  • Too Many Credit Card Applications: When you have submitted too many credit card applications, chances are high that you will be portrayed as a “credit-hungry” person. This will lead to your HDFC credit card application decline.  
  • Limited Credit History: If you are new to the world of credit history. Your credit report might not prove that you can handle credit well. This will result in an HDFC credit card application being declined.  
  • Errors in Application Form: If your HDFC credit card application form has many discrepancies, your application may be declined. Simple mistakes such as misspelled names, incorrect income information, or incorrect contact information are among the errors.  
  • Issue with KYC Documents: If KYC documents are not submitted correctly, your credit card application is likely to be rejected.  

Tips to Avoid HDFC Credit Card Application Rejection in the Future  

There are some innovative ways that need to be adhered to to avoid your HDFC credit card application being rejected in the future.  

  • Boost Your Credit Score: Adopt good financial habits, such as paying your bills on time, keeping your credit card utilization under 30%, and avoiding multiple credit applications at once.  
  • Strengthening Income Proof: Show strong proof of your income stability. Self-employed professionals will be asked to submit Form 16, bank statements, and IT returns for the past 2 or 3 years. But for salaried professionals, it could be just your salary slips and proof that you have been employed at the same place for more than 2 years.  
  • Clear the Credit Report: In case of any disputes with your credit report, you can raise the issues with the credit bureaus and get them rectified. If there are any past-due amounts, you can consider a settlement to close the account. At the same time, request the lenders to update the information with the credit bureaus as well.  
  • Reduce Your Credit Commitments: One way to get your HDFC credit card application approved is by making prepayments of the existing loan EMIs. In case if you have other credit cards, keep the credit utilization for the same under 20% 
  • Build a Credit History: Go for a secured credit card. Go for a low-tier credit card with an add-on facility that allows a co-applicant. Use your credit card wisely and pay the balances in full.  
  • Submit Complete and Accurate Documents: Your name, date of birth, and address must appear consistently throughout the documents. You need to submit clear scanned copies of the documents. Submit the required income and ID proofs to get your HDFC credit card application processed.  
  • Use the Right Procedures While Reapplying: If your HDFC credit card application was rejected once, reapply within a 30- to 60-day window. If the previous rejection was due to credit report errors, make sure you fix them before reapplying. Go for an entry-level credit card or a basic HDFC credit card this time to avoid rejections.  

HDFC Bank Credit Card Eligibility Criteria 

Applying for an HDFC credit card should be done only after you check the bank's eligibility criteria. This will avoid credit card application rejections and the unwanted hard inquiry entry on your credit report. Satisfying the following criteria will breeze you through the HDFC credit card application.   

  • A good credit score, preferably 700 or higher, is required.  
  • Suppose you are an existing HDFC Bank customer. This could be in the form of a savings account, a salary account, a fixed deposit, or even a loan account. You will be one of the top contestants for the HDFC credit card application.  
  • Showcasing your regular income stability will win over the bank’s representatives, as steady income ensures your repayment capacity and helps you get a credit card easily.  
  • An on-time payment history for any of your existing loans or credit cards is a must.  
  • Avoid having too many loans or credit cards at once. A healthy debt-to-income ratio is a green signal for your HDFC credit card application to be accepted.   

Though your credit score is the starting point for your HDFC credit card application, meeting the criteria mentioned above and getting a green signal will easily get you an HDFC credit card.  

Conclusion  

Getting an HDFC Credit card application declined can make you feel discouraged. But you need to understand that a rejection means your current credit profile does not meet the bank's eligibility criteria. At the same time, by adopting sound financial discipline, your credit profile can always be put in order on time. You must review the rejection reasons, check your credit reports, resolve any existing issues, and choose a credit card that aligns with your income and profile. This will definitely improve your chances of HDFC credit card approval in the future. Adopt the proper steps and measures to ensure your HDFC credit card application is successful next time. 

Frequently Asked Questions 

1. List some reasons for getting your HDFC credit card application declined.  

Your HDFC credit card application gets rejected due to a low credit score, high existing debt, mismatched information, insufficient income, and too many hard inquiries.  

2. Will a declined HDFC credit card application affect my credit score?  

Not precisely, the HDFC credit card application decline will not reduce your credit score. But a hard inquiry made for the bank's credit card approval will lower your credit score.   

 3. How long should I wait before reapplying for my HDFC credit card?  

Take a timeframe of 3 to 6 months after fixing various issues, like maintaining on-time payments, repaying the existing debts, and adopting good financial discipline.  

4. Will not having a credit history lead to credit card rejections?  

Yes. HDFC Bank will not be in a position to assess your credit behavior; in such cases, there is a possibility of your HDFC credit card being rejected.  

5. Does having an HDFC Bank account increase the chances of getting a credit card approved?  

No. Having an account will not increase your chances of getting approved for a credit card. But your credit score, credit history, and repayment behavior will increase your chances of approval.  

6. Why have self-employed individuals' HDFC credit card applications declined?    

Self-employed individuals will face rejections due to inconsistent income proof, ITRs, or business instability. Providing updated financials will increase the chances of approval.  

 

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