I had recently applied for the HSBC credit card and it got rejected what is the reason for it. I already have one HSBC credit card if it helps.
An HSBC card application can be rejected for a variety of reasons, most commonly it gets rejected due to a low credit score, insufficient income, high debt-to-income ratio, recent credit inquiries, a history of late payments, errors on your credit report, unstable employment, or not meeting the bank’s eligibility criteria based on your application details.
If your HSBC credit card got rejected, even with an existing card, it could be due to a few reasons. Maybe you’ve hit the card limit with HSBC, your credit score or recent activity didn’t meet their criteria, or your current card hasn’t been used much.
It could also be due to multiple recent credit applications or a mismatch in your details. Best to call HSBC customer care for a general reason and check your credit report just to be sure.
I recently applied for an HSBC credit card but my application got rejected. Can someone please explain what could be the possible reasons for an HSBC card rejection, so I can work on them before reapplying?
I can understand how disappointing it feels when a credit card application gets rejected. HSBC, like most banks, has strict eligibility checks, and rejection usually happens because of a few common reasons:
1. Credit score issues – If your credit score is on the lower side or you have missed payments in the past, the bank may see you as a risky borrower.
2. Income criteria not met – HSBC sets minimum income requirements for its cards. If your income details don’t match the eligibility, the application might be declined.
3. High existing debt – If you already have multiple loans or high outstanding balances on other cards, the bank may think your repayment capacity is stretched.
4. Incomplete or incorrect details – Sometimes, even small mistakes in documents or application forms can lead to rejection.
5. Too many recent applications – If you’ve applied for multiple credit cards or loans in a short time, it may raise a red flag for lenders.
The best step now is to carefully check your credit report, ensure your documents and income proof are updated, and wait a few months before reapplying. If possible, you can also contact HSBC’s customer care to understand the exact reason for rejection. That way, you’ll know what to improve before applying again.