- There could be various reasons as to why the credit application was declined and it could vary from customer to customer. The most common decline reasons are:i.Affordability – customer does not meet the minimum affordability criteria.
ii.Low credit score – when Capitec standard credit scoring model indicates that the credit score for the application is below the minimum required
iii.The customer is under debt administration. Once a customer is under debt administration, Capitec is not allowed to enter into a credit agreement with the customer.
iv.One or more of the customers Capitec accounts have been handed over to an external debt collector previously due to non-payment.