Lowyat.NET -> Finance, Business and Investment House -> Credit Cards, Debit Cards, Prepaid Cards and Loyalty CardsCredit Cards Credit Card v19, Post/Ask general questions here, Please read post 1-3 before posting, tq
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 Jan 29 2016, 12:26 PM
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#1
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Junior Member
156 posts Joined: Sep 2011 
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Hey all,
Just wanted to check if it is normal for credit card companies not to provide reasons when rejecting credit card applications? I find this odd as why they cannot tell me the reasons for the rejection. Is this normal practice for all credit card companies? Thanks. |
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Jan 29 2016, 12:52 PM
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#2
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Junior Member
156 posts Joined: Sep 2011
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QUOTE(laymank @ Jan 29 2016, 12:45 PM) Yes. I believe not all credit card companies do that, so I still don't understand why this company do not disclose the reasons. |
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Jan 29 2016, 02:53 PM
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#3
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Junior Member
156 posts Joined: Sep 2011
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QUOTE(fruitie @ Jan 29 2016, 01:29 PM) Er... Not companies la.. It's not a bank, but you got it in the list.  It is banks... All banks cannot disclose rejection reason, I think this is BNM rule. This also applies to Aeon, though it is a Credit Service Centre.  I've contacted BNM and there is no such regulation. In fact, she was surprised on why the company does not provide reasons for rejection. |
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Jan 29 2016, 03:04 PM
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#4
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Junior Member
156 posts Joined: Sep 2011
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QUOTE(intrepidity85 @ Jan 29 2016, 02:59 PM) did you notice when you sign the application form and attach with terms and conditions mentioned 'banks has right to reject without disclose any reasons' Yes I did. My point is what's the problem in stating the reasons? After all you made effort to submit the application and the least they could do is to tell you the reason. |
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