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Reasons Why Credit Card Application Gets Rejected: #2 Low credit score

Sunday, May 13, 2018, 9:19 PM

Your credit card application will be rejected by the bank, if you have a bad credit score. The credit score is one of the important factors that are considered for issuing a credit card. Every month the bank sends details of your repayment history of the loans you have availed, to CIBIL.
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Credit score will decide your loan's interest rate

Friday, September 1, 2017, 12:33 PM

Credit score can be defined as creditworthiness of a person coded into a three digit numerical expression. A good credit score means that you have a strong track record of paying back your debts on time. This gives you a higher preference, and therefore, bargaining power while applying for a loan or credit card. This can translate to a lower rate of interest.
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Why credit score is very important?

Friday, September 1, 2017, 11:40 AM

Banks consider your credit-score while determining your loan eligibility. A good credit-score will instil confidence about you in banks. Also, the credit score is the first thing that banks check when you apply for credit-card. The bank will reject the application if the applicant has a poor credit score. A good credit score will also help you in getting higher credit-limit on your credit-card.

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