You Must Take This Step if You Get Denied for a Credit Card

In a perfect world, you'd be approved for every credit card you apply for. Unfortunately, this is not a perfect world -- and many of us have felt the sting of rejection from a credit card issuer.

You might think that if you get a no, it's the end of the road. However, you do have an option in this situation if you still want the card: You can call the issuer's reconsideration line. Let's take a look at a few possible reasons you were rejected and see if calling the reconsideration line can help you get a second chance at that credit card.

Why was I rejected for a credit card?

Here are a few common reasons a credit card issuer might decline your application:

• Your credit score wasn't high enough for the card: Many credit cards are intended for consumers with a credit score in a certain range. If you applied for one that requires good to excellent credit, and your score is in the fair range (which is 580–669 for FICO® Scores), you may not qualify.
• You have too much existing debt: Credit card issuers consider your existing debt payments when approving you for a credit card. If you have too much revolving debt, a card issuer may doubt your ability to keep up with payments on a new card.
• Your income is insufficient or irregular: If you're a lower earner, unemployed, or only intermittently employed, you might be rejected.
• You don't have a long enough credit history: If you're young or new to credit, you might not have enough credit history for a credit card issuer to determine if you'd reliably make your payments.
• You have too many recent credit inquiries: Every time you apply for a credit card or loan, the issuer does a hard credit inquiry, which can impact your credit score. Too many in a short period could indicate that you're having financial trouble and need more credit available to you to manage your finances.

What can I do to be reconsidered for the credit card?

Good news! You can call the credit card company's reconsideration line. This will be a phone number to connect you with a representative to discuss your application and plead your case. You may want to wait until you receive your letter in the mail explaining why you were rejected so you can best address the reason. Otherwise, you should be able to find out from the representative why your application was denied.

Here's the best way to approach that conversation:

1. Now is the time to really turn on the charm and be polite. Remember, the person on the other end of the line is a human, and chances are, they have to deal with a lot of rude callers every day.
2. Explain why you'd be a good cardholder -- meaning, you use your credit cards regularly, pay off your balances on time, and only use credit to make purchases you can afford. If you. have a good credit score, bring that up, too.
3. Ask to be reconsidered for the card in question. It's a good move to mention how excited you are about this card in particular, and maybe bring up a few features you like. Don't mention the welcome bonus, because credit card issuers don't love it when consumers sign up for cards, get a welcome bonus, and then dump the card. So avoid raising alarm bells in this regard.
4. Bring up the elephant in the room, and either provide an explanation or make a suggestion for how you could be approved. If you were turned down because of a delinquency on your credit report, explain what happened. If you already have several cards with that issuer and they have high limits, ask that a portion of your existing credit limit be transferred to the new card.

You still may not be approved even after pouring your heart out to the card issuer. If that happens, it's definitely disappointing, but it's not the end of the world. Chances are, this won't be your last opportunity to get a new credit card, and if the reason you were turned down is your credit score or existing debt, you can work on them for the future.

Reconsideration line numbers for major card issuers

Here are the numbers to call to have a credit card application reconsidered.

If you don't get that particular credit card at this time, that's okay. Take the information you've been given about your rejection and make lemonade out of those lemons.