Reasons Why Should You Get Axis Bank Credit Cards

Financial Fitness Podcast

A credit card from Axis Bank comes with a lot of benefits for the cardholder. A credit card is a form of unsecured loan which is generally the first thing a person new to the workforce will get. Credit cards are a source of funds when you need them urgently without the hassle of approval.

On a credit card, you get the option of the interest-free period during which, if you pay off your dues you need not pay any interest. If you find it difficult to pay your credit card bills there is the option of converting your bill into easy EMI which you can pay on your own time. It is because of these uses that credit card is very popular and many people apply for them from banks like Axis Bank.

Though everyone would like to have a credit card, getting a credit card approved is not easy. As already mentioned a credit card is a type of unsecured loan and does not require any collateral for borrowing, due to which there is a high risk for banks. Banks will have certain criteria which a person needs to satisfy before a credit card application is approved. Following are list of Axis Bank credit card rejection reasons.

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Reasons for Axis Bank Credit Card Rejection/Disapproval

The reasons for a credit card rejection in India have been provided based on previous rejection experiences that applicants have faced and these reasons have been found to be the most common across all major banks in the country including Axis Bank.

Low credit score

Unstable employment

Insufficient income

Working in a delisted private company

Not falling into the age limit

Living in an address that is present in the defaulter list

Axis Bank Credit Card Rejection Criteria

Credit card rejection criteria may be any one or more of the following

Eligibility Criteria

Axis Bank has its own internal eligibility criteria for its credit card schemes. They are based on your salary, the place you work, the company you work for, experience, etc. that any applicant needs to satisfy before moving ahead. If any person does not satisfy this criterion then the credit card application will be rejected.

Low Credit Score

One of the first and foremost reasons for rejection is if the credit card applicant has a low credit score. Any bank, when it gets a loan or credit card application will pull out the individual's credit score which is available with the number of credit bureaus operating in the country.

The credit score is the accumulated score based on how regular you were in paying back your loan or credit card bill. If your credit score is too low, then your credit card will be rejected.

It is best to check your credit score before you apply for a credit card and create your credit profile and knows where you stand with respect to credit. This way if your score is low you can improve your score before applying.