Applying for credit card - strange eligibility criterion

[sankalpdeep]

Hello again,

I hope this board's moderators don't have any upper limit to the number of queries one can pose in one session ... Here's one more query from a seeker of truth

For self-employed persons, operating from their residence is a very viable and practical choice. Maintaining a separate office is not affordable and not even necessary. This is especially true for the breed of internet workers whose sole office is the computer monitor, CPU box and the keyboard.

When applying for a credit card with ICICI and State Bank of India, therefore, I was intrigued to learn that one of their criteria for self-employed persons was that self-employed applicants are required to have a office address + telephone number which is different from the residence address + telephone number. What is the rationale behind this criterion?

Is it some plot against the cottage industry, hatched by the multinationals, by any chance?

Cheers,

Sanjay

[nameeta]

Hi Sanjay

first of all welcome aboard and it is good to see that you finally reached here.Well yes I have also seen that the criteria of credit card issuing banks is very funny and partial to the big guns who already have a number of cards with them.For anyone new to get a credit card issued is a very difficult and tedious process and most of the time you get the letter that "we are sorry to state that your application has been rejected"

[sankalpdeep]

Credit card - strange criterion ...

Hello Nameeta,

Thanks for your response.

Is it possible for you to point out a site where these credit card geeks hang around; where they swap notes and do some back-slapping, perhaps? It would be interesting to read their postings And learn from them in the bargain ...

Cheers,
Sanjay.