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Why Was My SBI Prime Card Rejected?

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We get many emails similar to this where rejection seems impossible yet sometimes still happens. A great score and more, what could be at the root of the issue here? Lets take a look at this reader’s email:


Message Body:

My SBI Prime application got rejected. I’m trying to understand why. Is it because I’m self-employed?

My ITR was 11.25 lakhs last year. My CIBIL  is 800. I have no late payments/ defaults against my Citi Rewards or HDFC moneyback cards. Both have limit of 1.5 each.

I also live in a good area in South Mumbai so not sure why application is rejected. My Aadhar was done and house address verified by the agent.

Do you have any idea the reason for rejection? Should I apply to another Bank now?




Hello! Thanks for the email, it is puzzling sometimes why banks see fit to deny a perfectly capable applicant despite all signs looking like you are a reliable borrower. You listed a lot of positives there, but here are some possibilities and factors that may be why you were denied.

Credit Inquiries

We wonder if you have recently applied for other credit in the past year in addition to the SBI Prime card, or applied for any loans. If that is the case, you may appear credit hungry to lenders. Self-employed people are more scrutinized by banks because typically self-employed do not receive weekly paychecks, and income is a bit more staggered.

Credit History

It sounds like your current credit situation is fantastic, but how is your history? If you have had issues in the past, you may be on their radar. Especially if you had issues with SBI in the past, as they tend to hold a grudge more than a world wide bank like Citi.

Income Vs Credit Limit

Another potential reason could be they decided with their algorithms that you have enough available credit already in relation to your stated income. SBI tends to be stricter than other banks on that factor as well.

It Never Hurts To Ask

You were denied, so it stands to reason that they should be able to tell you why. Call a customer service rep and explain your situation in a calm and inquisitive way saying you have a fantastic CIBIL score and just would like to know the reason for denial so that you can make it better for the future. They should be able to dig into this and find a “reason code” as to why you were denied.

Best of luck in sorting this out!

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