![]() You have too many recent credit inquiries.Plus, what do you have to lose at that point? No matter what, the worst thing a card issuer can say is “no.” Since you already submitted an application and the hard inquiry on your credit report is already there, calling to ask why you were denied-and for the card issuer to reconsider-won’t have any further implications on your credit score.Īsk to be connected to the credit analyst team.Īsk to speak to the credit reconsideration team.Īsk to speak to reconsideration services.Īccording to Experian, one of the three main credit bureaus, common reasons for credit card denials include: There’s no guarantee that calling a credit card reconsideration line will work, but it’s always worth a try if you believe you are eligible for a card that you really want. ![]() If the bank or issuer you’re looking to contact doesn’t have a published credit reconsideration phone line, we’d recommend contacting their card services or application line and ask for reconsideration to avoid calling a scam number. When a consumer reaches out to inquire about a denied credit application, this process is known as credit card reconsideration. You’ll receive this statement in the mail in the form of a formal notice, so you can use this information as a starting point in your negotiations. It’s important to note that under the Equal Credit Opportunity Act, you have the legal right to know why your credit card application was denied. In that case, you can always reach out to the card issuer that denied you one of their products to see if anything can be done. There are also situations where a denial may seem like a mistake. While major rules from card issuers are usually pretty cut and dried, there are times when people are seemingly denied for no reason. ![]() If you really want that new credit card, it may make sense to call the bank’s credit card reconsideration line to find out if anything can be done to get your application approved. Citi ThankYou Rewards, co-branded American Airlines credit cards) every 24 or 48 months, depending on the specific card you sign up for.īut just because your credit card application is denied or pending doesn’t mean that you’ve violated one of these rules. With Chase credit cards, for example, you’ve probably heard of the unofficial 5/24 rule that limits new accounts for consumers who have had five or more new credit cards within the last 24 months.Īmerican Express, on the other hand, limits welcome bonuses on some of its credit cards to “once per lifetime,” and Citi will only let you earn the welcome bonus on a new card within its family of brands (e.g. Similarly, it’s common for credit card applications to go into a pending status.Ĭredit card issuers have tightened up rules for consumer approvals across the board, and this includes people with good or excellent credit. You could turn $150 cash back into $300.īut what happens when you’re flat-out denied? This happens all the time, yet credit card denials don’t always happen to people with poor credit scores or low incomes. ![]() Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. INTRO OFFER: Unlimited Cashback Match for all new cardmembers – only from Discover.
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