Reasons for the Bank granting a Credit Card


All the keys, explanations and reasons why you are not granted a credit card. Everything you need to know to solve this problem.


The credit card is one of the easiest financial products to acquire, which is why it is a problem when the application is denied. Why does not the bank grant me the credit card ? What can I do to get the financial entity to grant it to me? Here are the reasons and reasons that prevent you from having this payment method:


Absence of necessary documentation

Absence of necessary documentation


One of the most common and simplest causes to solve. It is very possible that in the application process the bank asks for documents to prove that the requirements are met. If this information is not delivered, the contract can not be continued . It is even possible that at some point in the process the application has not been properly completed, which would be an impediment for the financial product to end up being granted.

Few revenues



Although we have commented that banks require little to grant a credit card, the truth is that if they ask for something, it is a minimum justification of certain monthly income that supports in some way what one can acquire with the line of credit of the card. In this way, the financial entity can know the risks it assumes when granting this financial product. Proving that money is earned on a regular basis each month will be critical to achieving this goal.

Excessive indebtedness



Within the study that the financial institution makes of each individual, the analysis of the debts that accumulates fundamental. A bank will never grant a line of credit to a person who exceeds its capacity of indebtedness . If that person’s debt history is large and the amounts far outweigh the money earned each month, it is most likely that the request for the credit card will eventually be rejected.

Be on the list of the ASNEF



First of all, before even seeing the income that one has or the total debt that can accumulate in the bank itself or in others, the financial institution will look at the ASNEF (National Association of Financial Credit Establishments) if the name of the interested party appears within the list of delinquent files. If this happens, the chances of getting the credit card are reduced to the slightest expression . It will be impossible to get the financial product if before the name of that unfortunate list disappears.

Limited links with the financial institution

Limited links with the financial institution


Although the vast majority of banks have sufficiently advanced tools to know our history and behavior in financial aspects, it is quite likely that requesting a credit card in a financial institution that takes little time may not end up flowing in the desired result. This is due to two reasons, the first being the lack of information that the bank has from the client. The longer you are in it, have contributed income and have complied with your obligations, the more chances there are that the entity understands that the risk is very low at the time of granting this financial product. The second reason is the connection, a requirement that exists in many financial institutions. This is achieved by directing the payroll in the bank or by contracting other products, such as life or travel insurance.

In the event that this is the main reason for the denial of the application, recommended in the solution to opt for one of the options that exist to apply for a credit card without changing banks . In these financials this obstacle is easily saved by being one of the main features of your product.