Anytime you are not instantly approved for a credit card, rather than waiting for the bank’s decision, you should always call the reconsideration line. By talking to a representative, you can speed up the process for approval of the credit card, and could tie up loose ends that have the potential to determine whether you are approved or denied. Regardless of your situation, calling the reconsideration line is always worth a shot.
Credit card companies look at several factors when deciding whether to approve you. They may determine that you have too many inquiries on your credit score, a low FICO score or that your credit history is not long enough. Speaking to a representative and explaining your situation can increase the likelihood of being approved for the card. Often in cases where I apply for multiple credit cards simultaneously, a few of the cards will give me a pending status. But after calling into the reconsideration line, I am approved within minutes. Much of the strategy for successfully obtaining multiple credit cards is persistence. There are times when I call into the reconsideration line and am not approved, but calling back again (representative roulette) and speaking with a different representative can make all the difference.
When calling into the reconsideration line, there are few things to be prepared with that can increase your chances of approval:
Speak politely with the representative. They are making the ultimate decision and if you rub them the wrong way, they may go the extra mile to approve your card.
Be confident. Tell the representative why you want the card. Begin by mentioning how you enjoy doing business with their bank and you look forward to continuing the relationship. Positive points that you can mention are card benefits like no transaction fees, no annual fees, or that you enjoy the fact that the card serves an airline which you frequently fly with.
Know the credit card you are applying for. Understand the perks and benefits beyond the bonus points the card is offering so that the representative knows that you will be a loyal consumer and not only interested to bank off the bonus offer.
Have your credit report handy. If you don’t have a physical copy, Credit Karma is a good free credit report source. This way you can confidently discuss any of the points that the representative brings up.
Explain that you are responsible credit card holder who always pays on time and never missed a payment.
It’s best to call the reconsideration line the day after you apply for the credit card. You have thirty days to be reconsidered, but the sooner call, the sooner you could be earning valuable points. It also shows the representative that you are serious about wanting the card.
When you call and begin your initial conversation ask the rep if there is any information that you can provide that will speed up the process of approval. They will go over your credit report and possibly point things out--delinquent marks regarding a collections notice or that you have too many hard inquiries. If you’re credit report looks solid, they may very well approve you over the phone within a few minutes.
Reconsideration Lines for Major Credit Card Companies
Bank Of America
Barclay’s Credit Card
Citibank Credit Card
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