Credit Card Reconsideration Call - Guide
No matter if you’re new or a veteran to the credit card scene, sooner or later you’ll find yourself being denied a credit card. It’s quite unfortunate and can be a real blow to morale; especially when your credit score takes a small hit and you don’t have a shiny new card to show for it. But not all is lost. One last ditch effort you can take in hopes of getting your credit card application approved is making a reconsideration call. A reconsideration call is never guaranteed to be successful but if you can navigate conversations well, this is your time to shine. Phone numbers are at the bottom of the page.
What Is A Reconsideration Call?
A reconsideration call is when you reach out to a credit card issuer’s special hotline and attempt to appeal your credit card application that was recently denied. It’s essentially a sales call where you are going to be trying to convince the agent on the other end on why you should be approved for this card and why they should reconsider your application.
When To Call?
You can either wait to call after you receive a denial letter which will provide specific (or general) reasons on why your specific credit card application was denied. This could take anywhere from 7 to 14 business days. If you’re impatient, you can call the reconsideration hotline before you get the letter and let the agent know that your card application was denied and if they can go over the reasons with you. This option can be a hit or miss as sometimes the agent may make you wait for the letter to arrive first.
When Not To Call?
If your application says it’s pending/processing and you’ll hear from them within 7-10 business days, just wait. If your application said that they are reviewing your application and will let you know, also better to just wait.
How Long Do You Have?
You have 30 days from your initial credit card application to call the issuer and appeal your case via the reconsideration hotline. Anything after 30 days will result in you needing to reapply and getting another pull/hard inquiry on your credit report.
Do All Issuers Have A Reconsideration Line?
Most issuers like Chase, American Express, Citi, Barclays, and Bank of America have a reconsideration hotline that you can call to speak to a specific department to handle the issue. If they don’t have a specific line, most issuers have specific agents that can help you with your application review. However, some issuers like Capital One do not really do reconsiderations and will just result in another credit pull (and probably another denial).
Common Reasons For A Denial
Note: Any and every reason an issuer gives you for a denial can be argued so plead your case.
Short credit history
Too many revolving accounts (credit cards)
Too many recent inquiries
Credit score too low
Negative marks on your credit history (including missed payments and collections)
Income not sufficient (income to debt ratio too high)
Current balances too high
Not enough time between new application and recently closed credit card
Before You Call
Make sure that you are prepared for the call by knowing any and all “skeletons in your closet”. What I mean by this is if your credit score and credit history have any negative areas, be prepared to explain it and address it best you can when/if you’re asked about it. If you have the denial letter, you can better prepare for the reconsideration call by knowing the issuers exact reasons so you can prepare more effectively. Again, be prepared to address anything and everything the agent brings up.
During The Call
Let the agent know that you applied for a credit card and you were denied and you’d like for them to reconsider your application. Let the agent know why you applied for that specific card. Go over some of the benefits of that card that you find useful. Let them know that you have large purchases coming up (which you do if you’re planning to meet that minimum spend) and you’re looking for a new card to put them on. DO NOT mention that you want the card for the welcome bonus as this is a poor reason for them to approve you. Address anything the agent may bring up as a reason for denial and do your best to sell yourself as a good customer for their card.
After The Call
Hopefully you were able to navigate the conversation and get an approval. However, if the agent refuses to reconsider your application, thank them and regroup. Note any reasons and points the agent made in terms of why they’re not reconsidering your application. Come up with counter points for your next call(s) as sometimes it can take more than 1 or 2 calls before you get an agent that will approve your application. You can attempt reconsideration calls as many times as you’d like within a 30 day period. However, the agents most likely will take notes on the application/account so other agents can read and they’ll know how many times you’ve called. So if you have to call again make it your best and last call.
Reconsideration Hotline References
Note: These numbers are accurate at the time of the writing of this article. Easiest way to get to the right team is to call the number on the back of your other cards or calling the official card issuers general customer service line.
American Express: 1-800-567-1083
Bank of America: 1-800-732-9194
Barclays Personal: 1-866-408-4064
Barclays Business: 1-866-408-4064
Chase Personal: 1-888-270-2127
Chase Business: 1-800-453-9719
Citi Bank: 1-800-695-5171
Discover: 1-888-676-3695
U.S. Bank: 1-800-947-1444
Wells Fargo: 1-866-412-5956