Was your credit card application denied? Did you get the horrifying “You will receive a letter explaining our decision in 7-10 business days” message? Well, don’t be upset. It has happened to all of us at some point in our life. Even if you have excellent credit, banks can deny your application based on their internal scoring criteria. However, there is hope to get your application approved even after your original application has been denied.
I sat down to write this after going through it myself just yesterday. I applied for Chase Ink Plus and was denied, but instead of waiting for their explanation in the mail, I called the credit card reconsideration telephone line and after a few minutes, my card was approved. This is not a full proof tactic and it won’t work for everyone (I have failed before), but everyone should try it after being denied, since your credit score already takes the hit of the application
1. Do your homework!
- Know your score and have a copy of your credit report with you. You need to be informed of the number of account you have in general, and the number of account with the bank in question
- If you have a few cards with a company, they might not offer you a total credit limit increase even if they approve your card, so be prepared to make a decision on what credit you will move from which card
2. Learn the main benefits of each card!
It’s always easier to make your case if you’re informed. Mention certain benefits of the card and how you would use them for your business or for everyday spending. Maybe you fly a lot, maybe you book hotels often, maybe you do a lot of dricing and purchase gas often.
3. Chat up the reps!
Seems like common sense, but we forget that these people put up with a ton of crap each and every day. Just being nice and pleasant already puts you ahead of the curve and if you’re understanding of their job and treat them with respect.
Bringing up personal experiences is always a good idea, maybe a trip, a show you watched, or anything else that might make the conversation more pleasant.
4. Don’t mention the signup bonus.
The signup bonus is the real reason you are calling, but never mention that. Credit card companies want loyal customers who will spend on their cards, not people looking for a bonus. That’s why being informed makes you look much more like a regular customer and moves you a lot closer to a successful reconsideration.
5. Leverage your existing relationship with the bank
You are more likely to get approved, on your credit card reconsideration call, if the rep knows that you are a loyal and profitable customer for the bank. Bring that up and mention the years you’ve been in a relationship with the company. They will take your loyalty into consideration.
6. It might take more than One call
If you see that the call takes a bad turn, don’t push it. Maybe the rep is having a bad day, or maybe you got off on the wrong foot. Hang up and try again later. You will get a different rep and you can try it all over again. You’ll even be better prepared the second or the third time around.
There are thousands of customer service representatives out there, so it’s not worth your time or aggravation to deal with one that isn’t working for you. Don’t feel compelled to agree to anything at that moment.
Hang up, collect yourself, and call back. I’ve done this multiple times, and every time, I’ve been glad I have.
Chase Credit Card Reconsideration
- 1-888-245-0625 (reconsideration line for personal cards, open 7 days)
- 1-800-453-9719 (reconsideration line for business cards, only open M-F)
Citibank Credit Card Reconsideration
American Express Credit Card Reconsideration
- 1-866-314-0237 (application reconsideration department)
- 1-877-399-3083 (new accounts)
Bank of America Credit Card Reconsideration
- 1-866-458-8805 (credit analyst and reconsideration)
- 1-877-721-9405 (application status)
Barclays Credit Card Reconsideration
- 1-866-408-4064 (credit analyst) M-F 8am-5pm
- Check application status
Let us know about your success reconsideration stories and tactics.