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
It’s not what happens to you, but how you react to it that matters ~ Epictetus

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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.
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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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