Defaulted on Citi Card Apply Again
Received a declined credit menu awarding? It'south natural to be disappointed and paranoid—what if you lot're rejected over again on your next credit card application? Only you don't have to wallow in despair. Just because you're rejected for a credit card doesn't mean you can't be approved in the hereafter.
You tin take steps to ensure that your side by side effort at getting a credit card volition be successful. Here's what you can do on how to get approved for a credit card.
Table of Contents
- What to Do When You Receive a Declined Credit Carte Awarding in the Philippines
- 1. Check Your Credit Carte du jour Application Status
- 2. Find Out Why Y'all're Rejected for a Credit Card
- 3. Wait At Least Three Months to Reapply
- 4. Bank check Your Credit Report and Improve Your Credit Score
- 5. Apply for the Right Credit Card
- 6. Get a Secured Credit Card or a Prepaid Bill of fare
- How to Increase Your Chances of Getting Canonical
- Final Thoughts
What to Do When You Receive a Declined Credit Card Application in the Philippines
1. Check Your Credit Card Application Status
After you've practical for a credit card, the banking company volition contact you after i to three weeks to inform you about its condition. However, in some cases, banks take longer than usual to process a credit card application, leaving applicants uncertain about whether they're canonical or have a declined credit card application.
If you aren't sure if your credit card awarding is declined, yous tin check its status by calling the depository financial institution or making an online inquiry.
Hither's how to check the credit card application status with some of the major issuers in the Philippines.
📌 How to Check BPI Credit Carte du jour Application Condition
Yous can check your BPI credit card application status in two means: online and through the BPI 24-hour hotline:
To check via the BPI online banking facility, follow these steps:
- Get to the BPI official website at www.bpi.com.ph
- Log in to your account.
- Click Other Services > Application Status Inquiry > Credit Bill of fare.
- Enter your date of application.
To check via hotline, y'all tin can contact BPI'southward customer service through the following numbers:
- Metro Manila: (02) 89-100
- Domestic cost-free: 1-800-188-89100
- Mobile telephone and international: (632) 89-100
Dial two for Credit Cards and 2 for Credit Card Application Status Enquiry. Enter your 10-digit application ID number to know your credit carte awarding status.
📌 How to Cheque Citi Credit Card Awarding Condition
Here's how to check your Citibank credit card application status:
- Dial 8995-9999 to telephone call the Citibank credit menu customer care hotline.
- Press *2
- Press 1
- Enter your application ID or TIN
- Printing #
📌 How to Check EastWest Credit Bill of fare Application Status
To check the status of your credit bill of fare application with EastWest Banking concern, you lot may telephone call their customer service hotline at (+632) 8888-1700 or email cards@eastwestbanker.com.
📌 How to Check Metrobank Credit Card Awarding Status
If you filed a credit card application with Metrobank, you can bank check its status by calling the banking company's client service hotline at 8-700-700 or the domestic cost-free number at 1-800-one-888-5775. Alternatively, you may transport an email to customerservice@metrobankcard.com.
📌 How to Cheque PNB Credit Menu Application Status
You may call or electronic mail PNB to inquire well-nigh your credit card application condition. Here are the numbers to phone call a PNB customer service representative:
- Metro Manila: (+632) 8818-nine-818
- Domestic Cost-Free: 1800-ten-818-9-818
You tin as well send an e-mail to PNBcreditcards@pnb.com.ph.
📌 How to Bank check UnionBank Credit Card Awarding Status
Applied for a UnionBank credit card? To check your application status, just message UnionBank'due south official Messenger business relationship at thou.me/TalkToRafa and follow these steps:
- Click 'Products & Services'
- Cull 'Credit Cards'
- Select 'Application Status'
- Choose whether y'all applied for a Principal or Supplementary Credit Menu
- Click 'Proceed' and provide your 7-digit reference number
You tin detect this reference number in the e-mail or SMS sent to you later on completing your UnionBank credit card awarding.
If you don't have your 7-digit reference number, ship an e-mail to client.service@unionbankph.com
Looking for great credit card options? Here are some you can bank check out and use for.
two. Observe Out Why Y'all're Rejected for a Credit Card
The bank may or may not tell you the reason why your credit carte application was rejected. Regardless, it helps to know why it happened to avoid making the same mistake in your adjacent application and raise the likelihood of getting approving the next time.
Common Reasons for a Declined Credit Card Application
- Too low income
- Too much debt
- Bad credit score
- Unstable chore history
- Unpaid credit bill of fare balance
- Incomplete or incorrect information on the credit bill of fare application form
3. Expect At Least Three Months to Reapply
Got your declined credit card application simply recently? Don't apply for another credit card too shortly. Financial experts recommend waiting three to six months to utilize again.
Applying for too many credit cards inside a brusk period tin can hurt your credit history. You're likely to get declined once again, besides. Each fourth dimension you utilise for a credit carte, the bank conducts a credit check and makes an additional inquiry on your credit report. Having several inquiries on your credit report is a red flag for banks—it shows that yous're desperate and struggling to become approved for a credit card.
four. Bank check Your Credit Written report and Improve Your Credit Score
Before yous use for a credit menu again, accept the time to review your credit report, correct any fault, and piece of work on increasing your credit score.
Regardless of the reason your credit menu application got rejected, go a free copy of your credit written report from the Credit Information Corporation or whatsoever of its accredited credit bureaus[one] once a year. Check the accuracy of the information on your credit report—an error may have caused denial on your credit card application. If y'all spot an incorrect negative remark, dispute it with the concerned lender for correction and asking to update your credit report.
If your credit report accurately shows a history of loan default or high credit card residue, it's time to break those bad money habits that damage your credit score. Better your credit score past paying down your balances, settling your overdue accounts, and reducing your loan and credit card applications.
Read more: Should You Get a Supplementary Credit Card or Your Own Credit Carte?
5. Apply for the Right Credit Card
Subsequently getting your declined credit card application in the Philippines, make sure to find the right card this time—one that you're most probable to exist canonical for and matches your financial situation.
Cheque the banking company's eligibility requirements, peculiarly the annual income requirement. For example, BPI and Metrobank crave a minimum annual income of PHP 180,000 to get a basic credit carte from them. Application for premium credit cards requires higher almanac incomes.
Rather than check each banking concern website and spend hours researching, make your search for the perfect credit menu more than convenient with an online credit menu comparing tool. In but a few clicks, you tin can refine your search according to credit card providers and type of credit card, as well equally sort the results based on almanac income requirements, interest rates, and annual fees.
Yous may also use for a credit carte du jour with easy application requirements. Here are some of them:
✅ Citi Simplicity Carte+
Monthly income requirement:
- With existing credit bill of fare: PHP 15,000
- Without a credit card: PHP 20,833
Annual fee: No annual fee for life
Interest rate: 2%
✅ EastWest Practical Mastercard
- Monthly income requirement: PHP ten,000
- Annual fee: PHP ane,400 (free for the first year for new EastWest credit cardholders)
- Interest rate: 2%
✅ HSBC Red Mastercard
- Monthly income requirement: PHP 17,000
- Almanac fee: PHP 1,500
- Involvement rate: ii%
✅ PNB Visa Archetype
- Monthly income requirement: PHP 10,000
- Annual fee: PHP 300 (free for the get-go yr)
- Interest rate: 2%
📌 Read more about Credit Cards for Low Income Earners
half-dozen. Get a Secured Credit Carte du jour or a Prepaid Carte
If your electric current income and credit score aren't good enough to authorize for a credit card, consider alternatives such as secured credit cards and prepaid cards. These cards allow cashless transactions like regular credit cards practise. Approval is too easier plus it's a great way to build a good credit history.
Secured Credit Cards
No income documents are needed to become a secured credit card. Banks likewise don't behave credit checks for secured credit carte du jour applications. Instead, yous would demand to open up a savings or time eolith account with the issuing bank and make an upfront security deposit. This will serve every bit your collateral to the bank, which means when yous miss your credit card payment, the unpaid amount will exist deducted from your bank account.
Here are the secured credit cards in the Philippines you tin can apply for:
- AUB Secured Credit Carte du jour
- BPI Express Start
- Metrobank Salvage and Swipe
- RCBC Bankard InstaCard
- Security Depository financial institution Fast Track
Read more: Complete Guide to Secured Credit Cards in the Philippines
Afterward a year of using your secured credit menu responsibly, y'all may asking the issuing bank to upgrade it to an unsecured one.
Prepaid Cards
With a prepaid card, y'all enjoy the functionalities and perks of a traditional credit menu, except that your spending is limited to the amount in it. So you tin keep using the card, y'all'll have to summit information technology upwards before your balance goes downwardly to zero.
Some of the virtually popular prepaid cards in the Philippines include PayMaya, GCash Mastercard, Smart Coin Card, and YAZZ Carte du jour. Banks such every bit BPI, EastWest Bank, PSBank, and UnionBank as well offering prepaid cards.
How to Increment Your Chances of Getting Canonical
Accept annotation of the tips listed higher up if your awarding for a credit bill of fare gets denied. We asked RCBC President and CEO Arniel Ong on what Filipinos can practise to increment the chances of getting approved for a credit card.
"If you have an existing credit history—whether it'southward paying another card, another loan, or a bill that has your name on information technology—it's of import to keep these things up to appointment and maintain good credit menu standing," Ong said.
"Nosotros actually cross-reference and check credit behavior against various sources of credit data," he added.
Final Thoughts
Have you experienced getting approved after a declined credit carte application? What accept you lot learned from the experience? Sometimes all it needs is to bank check your finances and notice the right credit card for yous.
Source: [1] CIC Accredited Credit Bureaus / Special Accessing Entities
Moneymax is rated 4 out of 5 based on 164 reviews
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"Thank you sir Frederick Intal Martir for accomodating me for my credit carte application. Fast approval and delivery. Thank you and then much. 😊 Godbless 😇"
– Narin Lin rated Moneymax 5 out of 5 on May 21, 2020
Source: https://www.moneymax.ph/credit-card/articles/denied-credit-card-application
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