You will really have a bad day when you can receive a denial letter from the card network that you sent a credit card application. “Why was I denied?”, this question will be a star studded one to people who are expecting positive results from their application.Citibank does not approve credit card applications due to a variety of reasons which may include the lack of income of an individual and the owning of a lot of credit cards. The main reason why this article is composed is for people to know their credit card application for Citibank may be denied when…
You did not meet the Age Requirement -
Most bank does not desire to have credit card holders who do have many credit line lines from different banks. If you have maximum number of credit cards and then it turns out that you have some trouble in paying it, then most credit card companies will really turn you down and will eventually consider you a high risk credit card holder.
You don’t earn Sufficient Income -
Not Earning Enough is the second reason why most people are not approved for their Credit Card application in Citibank. Before you can have a credit line in Citibank, they make sure that you have a fixed annual income.
The Permanent Residence and Job Stability Requirement -
It is an insurance that Citibank can see stability in a person. One of the determinants of a persons stability is the length of time that he spent in his current residence and occupation. Once you have done recent transfer of residence of even a change in your job, Citibank may deny your application.
You have don’t have a Good Credit Standing -
This is actually the major reason why an application is denied. If you have a bad credit standing from the cards that you own, then probably, you will be consider a high risk when issued a card. A poor credit line or standing is not also good because the bank could not rate you with regards to this.
Too many Credit cards, Too many Credit Limits -
It is deemed impossible but then true for Citibank receives applications from teenagers who are dying to have credit cards. Sometimes, in this move, we could think that the Citibank is being exposed to fraud, for this kids tries to deceive the bank. Sometimes, they are not fully aware that you have to be of legal age before you can own a card. Teenagers must have thought that they could own a credit card cause they can even own things like emails, phone, and etc. that are once only for adults.
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