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- If you have been denied multiple times on reconsideration calls immediately after applying and a few days later, it is advisable to wait until you receive the denial letter by mail. Then, try again with a well-prepared case explaining your response to the denial reasons. - It is essential to work on improving those denial reasons as well. Information on Reconsideration Lines: - Reconsideration agents are primarily concerned with your credit file, derogatory marks, and recent inquiries. They do not take into account your past card applications unless specifically requested. - Systematic declines are real and different from declines based on factors that can be overturned. Some applications are automatically rejected if they do not comply with the bank's rules. - Only bankers, often with the presentation of documents, can override these bank rules. A reconsideration agent may not be able to help you overturn a systematic decline. Thus, it is best to consider using a banker and opting for a more personalized application process. - These application systems are often poorly designed, which is why it is crucial to input all information correctly and precisely. During the Reconsideration Call: - Take the lead during the call and avoid being bounced around by the agent. Address the denial reasons and articulate your arguments politely. - "The Credit Card Accountability Responsibility and Disclosures Act (CARD Act) of 2009 requires issuers to explain in writing the reason your application was rejected. It is crucial to have this information before calling the reconsideration line so that you can explain politely to the agent why the bank's concerns are not relevant and how you would make an excellent customer." - Remember, the purpose of this call is to counter the reasons for denial. Stay focused on addressing those concerns since the only way to turn a denial into an approval is by alleviating the bank's concerns that led to the denial. Ensure you have a sound argument and avoid simply expressing your desire for the card.

Dealing with Denials (Reconsideration Dept) Introduction: - Receiving a pending review, denial, or non-instant approval is common in your credit journey. - It is important to handle it properly and understand how to address it. Reasons for Denials: 1. Algorithm-based Decision-making: - Most applications are processed by computerized systems. - Mistakes or misjudgments can occur due to high criteria set by the systems. - Some exceptional customers may be dragged into pending review or denial situations. 2. Fraud Concerns: - The number one concern for bank algorithms is fraud prevention. - Pending or denied applications often result from failure in verifying the applicant's identity. - Ensuring accurate information and spelling across all credit reports is crucial. 3. Other Reasons for Non-Instant Approvals: - Bank rules and restrictions may limit approvals (e.g., 5/24 rule, credit history requirements). - Irregular activity or multiple inquiries in a short period may prompt verification calls. - Mismatched personal information or frozen credit may cause pending status. - Negative items on credit reports can lead to denials. - Having too much available credit can be viewed as risky. Approaching Denials: 1. Never Accept a "No": - Denial decisions are not concrete and can often be overturned. - Consider applying through a banker or in-branch for a more personalized approach. 2. Reconsideration Line: - Each credit card company usually has a reconsideration department. - Request the reconsideration line number by calling the main customer support number. Reconsideration Script: - Play dumb and nice when calling. - Inquire about the status of your application and offer additional information if needed. - If denied, ask for reconsideration and seize the opportunity to convince them. - Highlight your desire to establish or strengthen a relationship with the bank. - Emphasize benefits, rewards, or dissatisfaction with other credit cards. - Assure that you want to be a long-term customer and not desperate for credit.

- Si has sido denegado en varias ocasiones después de llamar a la línea de reconsideración inmediatamente después de solicitar y unos días después, espera a recibir la carta de denegación por correo y luego intenta nuevamente con un argumento sólido explicando tu respuesta a esas razones de negativa. - También asegúrate de trabajar en mejorar esas razones de negativa. Información sobre las líneas de reconsideración: - Los agentes de reconsideración no se preocupan por el hecho de que hayas solicitado tarjetas en el pasado, solo se preocupan por tu expediente, los derogatorios en él y las consultas recientes. Eso es principalmente lo que están entrenados para evaluar. - Incluso no ven tu bono de bienvenida a menos que se lo pidas. Las negativas sistemáticas son reales y son diferentes a las negativas basadas en factores que se pueden revertir. Las instituciones automáticamente rechazarán ciertas solicitudes que no cumplan con sus reglas bancarias. - Solo los banqueros y generalmente mostrando documentos pueden anular las reglas bancarias. Un agente de reconsideración no podrá ayudarte a revertir un rechazo sistemático, por eso es mejor intentar usar a un banquero a veces y optar por el tipo de solicitud más personalizado que ofrecen. - Estos sistemas de solicitud están mal construidos, por eso nos importa tanto ingresar TODO correctamente y de forma literal. Durante la llamada de reconsideración: - Asegúrate de liderar la llamada y no simplemente dejarte llevar por el agente. Menciona las razones por las que te han negado y argumenta sobre ellas de manera educada. - "La Ley de Responsabilidad y Divulgación de Cuentas de Tarjetas de Crédito (CARD Act) de 2009 requiere que los emisores te expliquen por escrito la razón por la que se rechazó tu solicitud. Es muy importante tener esta información antes de llamar a la línea de reconsideración para poder explicar de manera educada al agente por qué las preocupaciones planteadas por el banco no son relevantes y que, de hecho, serías un excelente cliente.

To determine if you will get approved for a credit card, it is important to meet the ideal credit criteria: 1. Payment History: Aim for 100% payment history. If you have any late payments, try to repair them or have no more than one late payment in the past six months. 2. Utilization: Keep your utilization rate per individual account between 1-6% maximum. 3. Length of Credit History: Have at least one year of average age reporting. You can supplement this by being an authorized user on someone else's account for 4-6 months. 4. Inquiries: Aim for three or fewer inquiries in the past six months (per bureau) and three or fewer inquiries in the past 12 months for the best results. 5. Credit Mix: Have at least two installment accounts and three revolving primary accounts, each being at least six months old. Aim for credit limits of $5,000-10,000+. The key differences in getting approved for certain cards include whether you need to be a member of that bank to apply and how long you should have a banking relationship with them. In most cases, it is recommended to have a personal banking relationship with the bank for 4-6 months, such as having a checking or savings account. Authorized user cards or employee cards can also help build rapport with the bank. It is important to consider how inquiry sensitive the bank is. Some banks, like Barclays, are very sensitive to inquiries, while others, like Goldman Sachs, may change your approval amount based on recent inquiries. It is crucial to research this information based on datapoints, as bank rules can change over time. Additionally, make use of prequalification tools if they are available. These tools allow you to safely test the waters and improve your chances of approval if the tool indicates a negative result. Keep in mind that most bank representatives may not have accurate knowledge about approvals. It is advisable to not solely rely on their advice unless they have been vetted. It is likely that you will have a better understanding of the approval process if you have taken the time to learn and participate in knowledgeable communities. Approach conversations with kindness and let them explain things to you, but remember to confirm their information with multiple data sources and other communities.