Credit Card Resources

5 Ways To Make Your Credit Card Reconsideration Telephone Call A Success & Credit Card Reconsideration Telephone Numbers!

 Credit Card Reconsideration

If you are not approved for a credit card application online, don’t give up!

Instead, call the credit card reconsideration telephone line within 30 days and ask them to review yourapplication.

5 Ways To Make Your Credit Card Reconsideration Call A Success

1.  Be prepared

  • Have a copy of your credit report with you so that you can make reference to the number of open accounts and inquiries on your credit report.
  • Also know your credit score.  And know the number of cards you currently have open with the bank and when you opened them.

2.  Lead the call

In my opinion, it is better for you to lead the credit card reconsideration call than to let the rep lead the call.

Lead the call by letting the rep know that you love your existing relationship with the bank and that you were wondering if there was any way to get approved for a new credit card by reducing the high credit line on your existing credit cards.

This lets the rep know that you are aware of why you may have initially been denied a credit card.

Lots of folks get denied for credit cards because of late payments or charge-offs on their credit cards.

You want to quickly let the rep know that your denial wasn’t because of late payments or credit mismanagement, but because you may have reached the credit limit which the bank will assign you.

I have successfully used this method to get approved for credit cards even when the reason for denial was “too many inquiries” on my credit report.

3.   Know why you’re applying for a new credit card

Emphasis the reasons why you want a new card.  Offer additional reasons as to why you want the card, before you are asked why you want another card.

Examples of good reasons could be:

  • My company changed their preferred airline/hotel and I need a different credit card to match
  • I moved and American Airlines (or whatever loyalty airline card you have) doesn’t fly to my new city
  • I hate Airline X after they cancelled my flight and I will never fly with them again
  • I want a card with no foreign exchange fee
  • I want a card with a low annual fee or no annual fee
  • I don’t have any credit cards with your bank and have heard great things about your bank from my friends/family and want to start a relationship with your bank

4.  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.

Be sure to mention if you have:

  • a checking account or credit card with the bank for 2+ years
  • charged a large amount on other credit cards with the same bank
  • never been late on a payment

5.  Be polite with the telephone representative

In general, you get more when you are calm, positive, and well prepared.

Yelling at the phone rep during the credit card reconsideration call will only hurt your chances of getting approved, besides indicating that you are a jerk.

When was the last time you lent money to someone after being yelled at for initially refusing?

Credit Card Reconsideration Telephone numbers

I’ve listed the credit card contact telephone numbers below:

1.  American Express

  • 866-314-0237 – reconsideration
  • 877-399-3083/866-379-3643 – new accounts
  • 800 230 1284 – credit services
  • 800 582 6471 – new accounts/reconsideration, but agents don’t usually process applications immediately.

2.   Bank Of America 

3.   Barclay’s 

  • 866-408-4064 connects directly to a credit analyst

4.   Citibank 

  • 800-695-5171/800-763-9795 – credit department
  • 866-606-2787 – application status
  • 888-201-4523 – application status

You are usually more successful when you write to: CitiBank Executive Review Department, P.O. Box 6000, Sioux Falls, SD 57117.

5.   US Bank 

  • 800-947-1444 – reconsideration
  • 800-685-7680 – reconsideration

Example of a DEnied Chase Credit Card Application Status:

Denied letters can say something like this:

“Dear Guillermo”

Thank you  for your interest in our CHASE SAPPHIRE Visa Signature credit program.  Your application was given thoughtful consideration  by CHASE BANK USA, NA.

After reviewing the information provided in the application  and your credit bureau report, we regret that we are unable to approve your  request for a credit account at this time.  The reason(s) for our decision are as follows:

Too many requests for credit or opened accounts with us

Is The Chase “6 Month Rule” Myth?:

I know a lot of people who would read the letter and consider the decision to not approve the credit card to be final, and move on.

But that’s not true!  You can – and SHOULD – always follow-up with the Bank to ask them if they would reconsider their decision.  (This assumes that there were no late payments, bankruptcies or write offs on your credit report.)

Most banks set a limit on the TOTAL credit amount which they will extend to you.  This limit is based on the bank’s internal risk-taking (or underwriting) policy, your income, length of credit history, and other variables on your credit report.

You may reach this total limit with 2, 3, or 4 or more credit cards, depending on the credit limit assigned to each credit card.

For example, $20,000 in total credit can result in:

  • 4 Credit Cards with a limit of $5,000 each
  • 3 Credit Cards with a limit of $6666.67 each or
  • 2 Credit Cards with a limit of $10,000 each

Once you reach this limit, banks will no longer extend you any new credit (since doing so will increase the bank’s risk exposure) and will send you a denial notice.  This is the type of denial notice in the Example above!

Note that this type of denial is only when someone reaches the maximum limit of credit that Chase is willing to extend. It’s not sent because of concerns about  credit history, length of credit history or for too many inquiries (We’ll address how to overcome these concerns in later posts).

This type of denial is often – incorrectly interpreted – as evidence of the Chase “6 month rule,” where Chase will not issue a new credit card if you’ve had a credit card approved in the past 6 months.  Don’t let this myth prevent you from getting bonuses on new Chase credit cards!

In fact, just 6 months ago I was approved for a Chase Southwest Credit Card which offered $500 in credit cards and 2 months before that I was approved for the United Airlines Visa Credit Card which offered 50,000 bonus miles and 2 months before that the Priority Club Visa Credit Card which offered 80,000 Priority Club Points.

That’s enough evidence to suggest that the 6-month rule (where Chase would not grant you a new credit card within 6 months of your last approved Chase credit card) is just a myth!

Chase Credit Card Reconsideration:

I called the Chase Credit Card Reconsideration telephone line and within 1 minute I was speaking to a credit reconsideration analyst.

I strongly recommend calling the number above instead of the general customer service number or the application status line.

That’s because you’re more likely to be given incorrect information such as “Please mail your reconsideration request in writing to PO Box XX…” or “Sorry, we can’t reconsider your request” by inexperienced representatives through the general line or the application status line.

I started off by explaining that was denied because I already had credit cards with Chase, but was willing to cut the credit line on my existing accounts in order to get the new Sapphire Preferred Credit Card.

The rep asked for my reference number (found on the denial letter) and verified my personal information.

She then said that since there were no issues with my credit report, she could approve the new Chase Sapphire Preferred Credit Card provided i reduced the limit on my other cards.

I  suggested cancelling my Chase Southwest Airlines Personal Credit Card, since it was 11 months old and i didn’t want to pay the annual fee on the card.

The rep spent a few minutes processing the information in her system and the Sapphire Preferred card was approved!

If the rep had NOT approved it, I would have called back again (call center agent roulette is the technical term) to see if another agent would have approved my credit card.

The call took 10 min to complete!  Yes, that’s $2000 worth of hotel rooms for just 10 minutes on the phone!

Bottom line: Don’t take credit card denial letters at face value, and always pursue a reconsideration.  Sure, you might get denied again, but you NEVER know until you ask.

If you don’t get denied again, well, that’s more miles and points for more free trips!

And don’t let the  Chase “6 month rule” prevent you from applying for a Chase Credit Card with a good bonus offering.  It’s just a myth!

One thought on “Credit Card Resources

  1. My brother recommended I might like this blog. He was entirely right.
    This post truly made my day. You can not imagine just how much time I had spent for
    this info! Thanks!

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