We do our very best to approve as many customers as we can for the Relay Visa® Credit Card. However, some businesses just aren’t the right fit. If your business has been denied for a Relay Visa® Credit Card, read on to learn more.
Why was my application denied?
Your application may have been denied because your business does not meet one or more eligibility requirements. To be eligible, your business must be:
- U.S.-incorporated and -operated
- Structured as an LLC, General Partnership, or Corporation (not a Sole Proprietorship)
- Owned by U.S.-based beneficial owners
To qualify, your business must meet one of the following:
- Option 1: $50,000+ in average monthly revenue (last 3 months) and at least 12 months in business
- Option 2: $20,000+ in average monthly revenue (last 3 months), at least 6 months in business, and maintain at least $25,000 in Relay at the time of application
External bank linking (when applicable): During the application review, we may use your Relay account activity to assess revenue and cash flow. If your business has less than 90 days of account history with Relay, you may be prompted to connect an external business bank account to help us complete the review.
If your business does meet the eligibility requirements and your application has been denied, it could be due to one or more of the following reasons:
Bolded reasons may appear as a single reason for denying an application. Reasons not bolded will only apply in concert with another reason.
A recent history of missed payments.
A history of late payments reported to and by credit bureaus.
A notable tax lien or legal judgment has been identified.
The business, or one of its owners, has recently filed for bankruptcy.
Your debt-to-income ratio is higher than what is recommended for lenders.
Your business holds cash insufficient to cover all operating needs.
Your business’s gross profit margin is too low.
Your business’s earnings are below the necessary minimum for approval.
Your business's debt-to-assets ratio is higher than what is typically recommended for lenders.
Inadequate credit history available for assessment.
Your business’s revenue and activity on Relay, or with other financial institutions, do not meet the necessary minimum for approval.
Limited history with Relay, or other financial institutions.
Your business credit score is currently below our approval criteria.
A record of late payments in your credit history.
Our risk assessment models indicate an elevated level of risk.
Limitations to your business’s revenue and history with Relay, or other financial institutions.
Your activity and repayment history in Relay, or with other financial institutions, is insufficient.
Potential limitations to your business's profitability.
Potential limitation to your business’s liquidity.
A recent history of missed payments.
Your business's debt level appears high compared to your revenue trends.
Both your business's operating margin and account balances are lower than what is typically recommended for lenders.
Limited confidence in the data sources available during assessment.
If your application is denied
If your application is denied, you can expect to receive 2 emails from Relay:
The first email will be sent to you immediately following the application review.
The second email will be sent within 30 days, on behalf of our credit provider and banking partner.
If you have any additional questions about why your application may have been denied, please feel free to reach out to our Customer Experience team for clarification.
Can I reapply?
We strongly recommend waiting at least 3 months, or until there has been a material change in your business's revenue or cash flow, to reapply for the Relay Visa® Credit Card.
Will a denied application impact my credit score?
No, a denied application will not impact your personal or business credit score.
I made a mistake on my application that caused it to be denied, what should I do?
If you made a mistake on your application, please reach out to our Customer Experience team for further assistance.