BANGALORE: Credit cards are the most common source of finance which helps people to fulfill their needs. At times, they provide a much needed support to tide over financial difficulties. It is often an annoying factor when a credit card application gets rejected. The credit card company rarely tells you why your credit card application was denied.

They may send you an adverse action letter, within 7-10 business days of your application, which gives you the specific reason for the rejection.

Let’s have a look at some of the reasons why credit card companies reject your card application:

1. Low Level of Income

Banks look at your spending power, that is nothing but the money which you have at your disposal for making card purchases. If you do not earn sufficient as per their own norms, they would not like to make you a credit card client.

Normally, most of the banks look for minimum yearly income. This can go up substantially in case of self-employed people. Most of the companies offer credit cards to make use of your purchases and earn by them. So, they look after your purchasing and returning capability and so checking your income level is the one of considerations.