Getting declined for a credit card is disappointing, but it's not always the final word. Many credit card issuers have reconsideration departments that you can contact to review your application. This article provides actionable tips and valuable insights to help you get your application reconsidered and approved.
First Thing First
Before making that crucial reconsideration call, here are some preparatory steps to consider:
1) Prepare an Explanation
Have a valid reason ready to explain why your application deserves another look. For example, point out a strong banking relationship with the issuer or correct any errors on your credit report.
2) Explain Why You Applied
Provide a solid rationale for why you need the card, especially if your credit report shows multiple existing cards. For example, specify the rewards or benefits that attracted you to the card.
3) Use Negotiation Skills
Offer to start with a lower credit line or propose reallocating your existing credit line with the same issuer to the new card.
4) Not Every Decision Can Be Overturned
Some reasons for decline, like too many recently opened accounts, are non-negotiable.
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How to Reconsider an Application with Each Bank and Some Great Phone Call Tips
American Express
- Contact: 1-800-567-1083
- Reconsideration Period: Up to 30 days without a new credit pull; up to 90 days with a new pull.
- Phone Call Tips: Offer to close or reallocate an existing Amex card; sending a bank statement may suffice if tax returns are requested.
Avianca Bank
- Contact: 1-844-343-1010
- Reconsideration Period: Up to 30 days.
- Credit Pull: None.
Bank of America
- Contact: Business Cards: 1-888-569-4439
- Reconsideration Period: Up to 30 days.
- Credit Pull: New hard pull required.
- Phone Call Tips: Mention a good banking relationship; request a different credit bureau if Experian is frozen.
Barclays
- Contact: 1-866-408-4064
- Reconsideration Period: Up to 30 days.
- Credit Pull: None for the same day; variable thereafter.
- Phone Call Tips: Request to match your highest existing credit limit; propose reallocating an existing Barclays limit.
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Chase
- Contact: 1-888-609-7805
- Reconsideration Period: Up to 30 days.
- Credit Pull: None.
- Phone Call Tips: Explain authorized user accounts; offer to reallocate an existing Chase credit limit.
Citi
- Contact: 1-800-695-5171
- Reconsideration Period: Up to 30 days.
- Credit Pull: Usually new hard pull required.
- Phone Call Tips: You'll likely get declined again if nothing has changed on your credit report or income.
Capital One
- Contact: 1-800-625-7866
- Reconsideration: Only for errors like incorrect SSN.
Citizens Bank
- Contact: 1-800-930-8916
- Reconsideration: Case-by-case basis.
- Credit Pull: None.
Discover, Fidelity Bank, HSBC Bank, Key Bank, Synchrony Bank, TD Bank
- Reconsideration: Not available.
US Bank
- Contact: 1-800-685-7680
- Reconsideration Period: Up to 30 days.
- Credit Pull: None.
Wells Fargo Bank
- Contact: 1-866-412-5956
- Reconsideration Period: Up to 60 days.
- Credit Pull: Only if there's a negative change on your report.
Please Note: This article is based on collective experiences and data points, and results may vary.
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