Unsecured credit (KTA) is one solution that is often taken when someone needs a loan without having to include assets as collateral. Apart from that, the fast process also makes KTA the right choice in emergency and urgent situations. Very suitable for short to medium financial needs.
But sometimes, there are a lot of processes KTA application that ends in rejection. You may have also experienced this and are curious, what caused our KTA to be rejected? So, in this discussion, we will discuss everything in full as well as tips and tricks so that your KTA application can be accepted quickly.
Factors that Cause a KTA Application to be Rejected
KTA can indeed be an alternative loan option without the risk of losing assets because it does not use collateral. Apart from that, the interest rate is also fixed so that it can avoid fluctuations. It's not surprising that KTA can be one of the best loan options for emergency situations. So, to avoid the application process being rejected, you must pay attention to the following things.
1. Verification Failure
When applying for Unsecured Credit (KTA), it is important to ensure the form is complete with accurate and valid personal data. Failure to verify data can be the main reason why credit applications are rejected.
Banks need complete and correct information to assess the risk and repayment ability of prospective borrowers. Therefore, make sure the telephone number provided can be contacted, including the office telephone number, so that the verification process can run smoothly.
2. Bad Credit History
Bad credit history be a factor in rejection in KTA applications. Banks have the ability to track credit history through BI Checking, so poor credit records, such as late payments or arrears, can reduce the chances of getting approval.
3. Overlimit Credit Card
The use of a credit card is also often a consideration when applying for KTA. If credit card usage has reached or even exceeded 70% of the specified limit, this can affect credit assessment. An overlimit credit card position can be considered an indication of higher financial risk, and this can be a reason for rejecting a KTA application.
4. Fraud (Fraud)
Avoiding fraudulent acts is also very important when applying for KTA. Fraud occurs when there is falsification of data, information or documents. The bank is very concerned about the accuracy of the information provided. Prospective borrowers must ensure that all data and information submitted is accurate and in accordance with actual circumstances to prevent rejection due to fraudulent activity.
5. Unclear Documents
Attach documents of good quality and easy to read when applying for KTA. Documents that are blurry or difficult to read can hinder the verification process and affect credit assessments. Make sure all supporting documents, such as pay slips or bank statements, can clearly prove the financial capacity and suitability of the prospective borrower.
6. Loan amount is too large
The bank will always assess the amount of credit submitted based on the customer's financial capabilities. Credit applications that are considered too large and do not match repayment capabilities, or exceed the limits set by the bank will usually end in rejection. So before you apply for KTA, prospective borrowers should consider the loan amount according to their respective repayment capabilities.
Tips for Avoiding KTA Rejection
If a KTA application is rejected, it will certainly prevent us from getting a loan. So, if you experience the same problem, you can use the following tips and tricks which can increase your chances of getting your KTA approved.
1. Check and Improve Credit Score
It is important to periodically check your credit score. A high credit score will increase your chances of KTA approval. If your credit score is low, try to improve it by paying bills on time, reducing debt, and improving other factors that affect credit scores.
2. Provide additional explanations
If KTA is rejected, provide additional explanation to the bank. Convey relevant information and provide context regarding your financial situation. If there is a specific reason for late payments or other problems, speak clearly and provide an explanation that the bank can consider.
3. Consult the Bank
After rejection, immediately consult the bank to understand the reasons for the rejection. Many banks are willing to provide additional information and suggestions to increase the chances of future approval. Discuss possible options or solutions, and ask questions to understand how you can improve the situation.
4. Reconsider the loan amount
If the rejection is due to the loan amount being too large, consider applying for a smaller amount. Banks tend to prefer to approve loans that match the customer's repayment capabilities. By adjusting the loan amount, you can increase your chances of getting approval.
5. Improve your credit history
If your credit history is the cause of the rejection, make efforts to improve your credit record. Make payments on time, avoid arrears, and consider settling pending debts. Improvements in your credit history can increase the bank's confidence in your ability to manage your obligations finance.
6. Look for Additional Income
If your repayment capacity is considered insufficient, consider looking for additional sources of income. So it can help increase the bank's level of confidence in your financial capabilities. Additional income can also help you meet your payment obligations more easily.
7. Study and understand the terms and conditions
Make sure you have a good understanding of the terms and conditions applied by the bank. Some rejections can be avoided by ensuring that your application meets the requirements set by the bank. Check every detail before reapplying for KTA.
This is a complete explanation of why your KTA application may be rejected. Please try some of the tips and tricks above which might increase the chances of your KTA application being accepted. Hopefully this information can be helpful and useful. Look forward to other exciting and interesting information updates that will be available every day only at Jakarta Studio.