Scotiabank has shared with us some information about the criteria that determine your chances of being approved for one of their cards. Overview.
Scotiabank Credit Card Application Requirements
When applying for a Scotiabank credit card, there are a number of important things to note, including:
- Your personal information
- Your place of residence
- Your job
Among this information, there are 5 criteria that Scotiabank specifically looks at when determining whether or not to approve your application:
Minimum personal income
Minimum personal income is the first criterion checked by Scotiabank. You must earn:
- $12,000 per year for an American Express card
- $60,000 per year for a Visa Infinite card
Annual income of $12,000
Annual income of $60,000
A residential address known by Transunion
It gets overlooked, but this is often the criteria that blocks the application! If the address you provide to Scotiabank when you apply does not match the address in your Transunion file, your application may simply be “conditionally denied”.
In fact, Scotiabank will wait for a call from you to provide proof or additional information. It will then be easy to mention if the address was wrongly entered, for example.
“Apt” instead of “Apartment” or 101-5001 instead of 5001 XXX Street, Apartment 101
It may sound silly nowadays, but computer systems are not that sophisticated.
Absence of personal bankruptcy
In order to apply for a Scotiabank credit card, you must not have declared personal bankruptcy in the last 7 years.
Age of majority
You must have reached the age of majority in your province or territory of residence.
Status in Canada
To get a Scotiabank credit card, you must be a Canadian citizen or permanent resident.
Reconsidering your Scotiabank credit card application
It is possible that your application will be rejected at the end. However, that doesn’t mean that it will always be.
In fact, by calling Scotiabank with your application number, you may be able to provide additional details that will allow the bank to finally approve your application.