A credit card denial isn’t final. The letter the issuer must send lists why you were turned down, so read it first. Then call the issuer’s reconsideration line within a few days and answer those reasons directly, because a second look by an analyst can reverse the decision.
A reversal is more likely when the cause is something you can fix, such as a processing error or a mistake on your credit report. The reasons in the letter show whether yours is one of them.
Federal law requires that letter, formally called an adverse action notice. It must state the specific reasons for the denial or tell you that you can get them by asking within 60 days. If your credit report played a part, it also names the bureau that supplied the report, the score the issuer used, and the key factors that pulled that score down.
That bureau owes you a free copy of the report if you ask within 60 days of the letter. Read it against the letter’s reasons. If something is wrong, such as an account you never opened, dispute it with the bureau and raise it on the call.
Call the issuer’s reconsideration line as soon as you’ve read the letter. An application stays open for about 30 days. After that, a second look means a new application and another hard inquiry, the kind of credit check that can lower your score. Ask which reason weighed most, and come ready to answer it:
- If the issuer says you already have enough credit with it, offer to move part of the limit on one of its other cards to the new one.
- If income was the issue, confirm it, mention any you left off the application, or ask about a lower starting limit.
- If recent applications were the issue, explain what they were for and point to your record of on-time payments.
- If the issuer couldn’t verify a detail, such as your identity or address, have the documents ready to confirm it.
If the answer stays no, wait at least six months before your next application, and use that time to fix what the letter named. When you’re ready, start with cards that offer prequalification, which checks your odds with a soft inquiry that won’t touch your score.
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