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Apply for 2nd credit card

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annkim123
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Apply for 2nd credit card

Post by annkim123 » Tue, 05 Jan 2021 4:58 pm

Hi guys, just wanna ask if anyone has been in the same situation as me. I got a amex credit card 4 years ago when I started working and around 2 years later I applied for a DBS Live fresh card but got rejected, didn't think much and moved on. Recently I applied for OCBC 365 CC and also got rejected so it got me thinking, is there a reason why I cannot get another CC? My income per year is about 80k now (70k 2 years ago), could it be not enough to handle 2 CCs? I am a foreigner, have never gotten loan/bankrupt and never missed payment for my amex card before. Both DBS and OCBC rejected with reason "cannot be disclosed". Thank you in advance!

the observer
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Re: Apply for 2nd credit card

Post by the observer » Tue, 05 Jan 2021 5:26 pm

Have you checked your credit score before?
If your application is recent, you’d still get to check it for free.

https://www.creditbureau.com.sg/

There’s no real reason to reject other than poor credit scores.

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malcontent
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Re: Apply for 2nd credit card

Post by malcontent » Wed, 06 Jan 2021 4:59 pm

It is unusual to get rejected by the major local banks provided you meet all the requirements.

If your credit is good, another reason could be that Amex already granted you a credit limit that is beyond what the new rules allow, which for your income level is 4x your monthly salary.

https://www.mas.gov.sg/regulation/expla ... edit-Cards
Every great and deep difficulty bears in itself its own solution. It forces us to change our thinking in order to find it - Niels Bohr

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PNGMK
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Re: Apply for 2nd credit card

Post by PNGMK » Thu, 07 Jan 2021 6:59 pm

malcontent wrote:
Wed, 06 Jan 2021 4:59 pm
It is unusual to get rejected by the major local banks provided you meet all the requirements.

If your credit is good, another reason could be that Amex already granted you a credit limit that is beyond what the new rules allow, which for your income level is 4x your monthly salary.

https://www.mas.gov.sg/regulation/expla ... edit-Cards
OP this is most likely the reason. Another reason is that you maybe internally blacklisted for being a bad debtor before with those banks or their affiliates.
I not lawyer/teacher/CPA.
You've been arrested? Law Society of Singapore can provide referrals.
You want an International School job? School website or http://www.ISS.edu
Your rugrat needs a School? Avoid for profit schools
You need Tax advice? Ask a CPA
You ran away without doing NS? Shame on you!

leo.ph
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Re: Apply for 2nd credit card

Post by leo.ph » Mon, 12 Apr 2021 5:55 pm

PNGMK wrote:
Thu, 07 Jan 2021 6:59 pm
malcontent wrote:
Wed, 06 Jan 2021 4:59 pm
It is unusual to get rejected by the major local banks provided you meet all the requirements.

If your credit is good, another reason could be that Amex already granted you a credit limit that is beyond what the new rules allow, which for your income level is 4x your monthly salary.

https://www.mas.gov.sg/regulation/expla ... edit-Cards
OP this is most likely the reason. Another reason is that you maybe internally blacklisted for being a bad debtor before with those banks or their affiliates.
If my salary is 4k/month, then my max credit limit across all institutions is $16k? That’s weird cause when I was having a limit about 7k, I applied for DBS cc and they gave me 11k limit. In total my limit now is 18k. There was once that my limit was around ~25k :?

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BananZ
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Re: Apply for 2nd credit card

Post by BananZ » Wed, 27 Oct 2021 1:17 am

annkim123 wrote:
Tue, 05 Jan 2021 4:58 pm
Hi guys, just wanna ask if anyone has been in the same situation as me. I got a amex credit card 4 years ago when I started working and around 2 years later I applied for a DBS Live fresh card but got rejected, didn't think much and moved on. Recently I applied for OCBC 365 CC and also got rejected so it got me thinking, is there a reason why I cannot get another CC? My income per year is about 80k now (70k 2 years ago), could it be not enough to handle 2 CCs? I am a foreigner, have never gotten loan/bankrupt and never missed payment for my amex card before. Both DBS and OCBC rejected with reason "cannot be disclosed". Thank you in advance!
I am having same problem with you, recently I started using more on my DBS Live Fresh card, so I am getting a 2nd card for additional cashbacks.

Tried to apply for UOB Absolute Cashback Card (Amex) twice and both rejected. I can't get CBS free report too, they said bank hasn't enquiry my profile recently @@..
I am sure that I have meet their criteria.

After reading this thread, I realised that my DBS card is indeed near to 4x of my salary. I will try to update DBS's limit first and apply again.
Will update here if I've succeeded.

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malcontent
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Re: Apply for 2nd credit card

Post by malcontent » Wed, 27 Oct 2021 8:51 am

BananZ wrote:
Wed, 27 Oct 2021 1:17 am
annkim123 wrote:
Tue, 05 Jan 2021 4:58 pm
Hi guys, just wanna ask if anyone has been in the same situation as me. I got a amex credit card 4 years ago when I started working and around 2 years later I applied for a DBS Live fresh card but got rejected, didn't think much and moved on. Recently I applied for OCBC 365 CC and also got rejected so it got me thinking, is there a reason why I cannot get another CC? My income per year is about 80k now (70k 2 years ago), could it be not enough to handle 2 CCs? I am a foreigner, have never gotten loan/bankrupt and never missed payment for my amex card before. Both DBS and OCBC rejected with reason "cannot be disclosed". Thank you in advance!
I am having same problem with you, recently I started using more on my DBS Live Fresh card, so I am getting a 2nd card for additional cashbacks.

Tried to apply for UOB Absolute Cashback Card (Amex) twice and both rejected. I can't get CBS free report too, they said bank hasn't enquiry my profile recently @@..
I am sure that I have meet their criteria.

After reading this thread, I realised that my DBS card is indeed near to 4x of my salary. I will try to update DBS's limit first and apply again.
Will update here if I've succeeded.
I noticed the same thing with with free credit report — either the credit issuer is not checking with the bureau, the bureau isn’t recording the check in their system, or the bureau is playing games — has to be one of the three.

Personally, I don’t care enough to pay for the report, so if they are not going to honor their word and provide a free one, they can shove it.

One thing I did discover as a foreigner, they use your passport — not your FIN for some strange reason. So, if you change your passport and get a new number, you’ve got to let the bureau know and provide copies of your passport so they can link them up. When I discovered this I was already on my 3rd passport here! Otherwise, it’s like starting new again, with no credit history. Can be a good thing if you had bad credit though!
Every great and deep difficulty bears in itself its own solution. It forces us to change our thinking in order to find it - Niels Bohr

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