Applications rejected. What when wrong?

[mummyshah]

Applied credit cards and loans from banks recently, all got rejected.

I earned $60k per annum, dont have any loans or credit cards with any banks. My credit report risk grade is GX.

Any banks' promoters for confirm approval?

And when can i apply apply after the rejection?

Appreciate your advices. Thanks in advancr.

 

[hclee01]

Care to share your basic profile so that we can roughly gauge the possible reasons for the rejection?

- Employed vs Self-Employed
- No of years into the current job and previous job (if any)
- Singaporean vs Singapore PR vs Foreigner
- Did you have any credit card / loans from banks in Singapore before?
- Range of annual income: S$30K - $40K, $40K - $120K, >$120K

 

[royalmix]

Applied credit cards and loans from banks recently, all got rejected.

I earned $60k per annum, dont have any loans or credit cards with any banks. My credit report risk grade is GX.

Any banks' promoters for confirm approval?

And when can i apply apply after the rejection?

Appreciate your advices. Thanks in advancr.

I googled and found this article,

It appears your actions together contributes to the rejection. Read the article to confirm.

https://www.singsaver.com.sg/credit-card/blog/why-was-credit-card-application-declined

 

[reddevil0728]

Applied credit cards and loans from banks recently, all got rejected.

I earned $60k per annum, dont have any loans or credit cards with any banks. My credit report risk grade is GX.

Any banks' promoters for confirm approval?

And when can i apply apply after the rejection?

Appreciate your advices. Thanks in advancr.

Banks promoter are just sales people.

approved is another set of people. So no bao Jiak one.

first ever credit line you are applying?

ever gotten into bad debt before?

 

[someusername]

GX means you don't have any credit records. Banks don't like giving credit without knowing the risks. Applying for multiple cards/loans at the same time is a red flag especially if you don't have a good credit grade. Maybe you should visit the branch where your salary is credited and see if they can assist in your application. Or apply for a single secured credit card with your bank and try to build credit records using that.

Also why are you applying for loans and cards? Maybe you are a bad credit risk. A credit card with a low limit makes sense for convenience - unsecured loans and multiple credit cards not so much.

 

[reddevil0728]

GX means you don't have any credit records. Banks don't like giving credit without knowing the risks. Applying for multiple cards/loans at the same time is a red flag especially if you don't have a good credit grade. Maybe you should visit the branch where your salary is credited and see if they can assist in your application. Or apply for a single secured credit card with your bank and try to build credit records using that.

Also why are you applying for loans and cards? Maybe you are a bad credit risk. A credit card with a low limit makes sense for convenience - unsecured loans and multiple credit cards not so much.

Going to branch no diff from just doing it online.

the staff are the branch are just a conduit. No special power

 

[iadpotato]

Applied credit cards and loans from banks recently, all got rejected.

I earned $60k per annum, dont have any loans or credit cards with any banks. My credit report risk grade is GX.

Any banks' promoters for confirm approval?

And when can i apply apply after the rejection?

Appreciate your advices. Thanks in advancr.

My guess is that your multiple applications triggered multiple queries to CBS which will be a red flag.

 

[purplewave]

Keep trying other bank, you need some credit rating to improve future chances

 

[reddevil0728]

Keep trying other bank, you need some credit rating to improve future chances

"keep trying" might not be the wisest choice. if it means keep having query on credit report.

 

[shy3r]

Applied credit cards and loans from banks recently, all got rejected.

I earned $60k per annum, dont have any loans or credit cards with any banks. My credit report risk grade is GX.

Any banks' promoters for confirm approval?

And when can i apply apply after the rejection?

Appreciate your advices. Thanks in advancr.

Not sure if u hve successfully applied a card. But i got approved by Amex with GX previously after appeal.