Keep getting denied for credit cards

5 Steps to Getting Approval for a Chase Credit Card [Even if You Were Denied]

The big promotion is finally over.

I’ve had had a few follow up emails with people worried that they didn’t or won’t get approved. In this post, I’ll give you a few tips to help give you the best possible chance of approval in case you didn’t get approved.

5 Steps for Getting a Chase Approval After You Are Denied

1. You don’t need to wait 7-10 days for your response.

If your application is pending, any time after a couple of days you can call 800-432-3117 or 1-888-245-0625. Just be sure you’re talking with someone in the application department. You would also need to call this number if your application was denied.

If you were approved, then get spending your minimum spend requirement to get your 100,000 miles.

If you were denied, don’t give up yet; there is still hope. You should try and follow up within 30 days of your original application.

There are various reasons why a person can be denied a credit card. Be sure you know the reason in your case.

3. Request that the person on the phone review your application to see if there is any way you can get the card.

This is the time you’ll want to share whatever information you have that might sway the decision:

  • I’ve been a Chase customer for years.
  • I have a 780 FICO score.
  • I’ve never missed a credit card payment in 6 years.
  • I make $75,000 per year.

When I was once denied for a Chase card, the first thing they did was verify the information on the account and asked some more detailed questions. What type of work did I do? How long had I been self employed? Those types of questions.

4. Offer to make some changes or adjustments to your existing accounts.

After they asked their questions, I shared some options and alternatives.

I shared the reasons why I thought I should be approved. Then I added that I’m happy to reduce my credit limit. I had a Chase card with a $9000 limit, and I asked if I could get one with $4,500 and the other with $4,500, and they agreed.

They did ask me why I needed two credit cards, and I just told them that I wanted to be able to earn miles with both airlines.

If it is because you have too many Chase cards, offer to close an older account.

5. Thank the representative.

If you’ve shared what you can share and offered what you can offer and you are not approved, you should just thank the rep and move on with your life.

At this point, if you want to be earning free travel with credit cards, you need to shift your focus towards improving your credit score. If you’re not currently tracking your score, you can get your FICO score at MyFICO, or monitor your score for free at Credit Sesame.

Have you ever been denied for a Chase card? Did you follow-up? What was the end result?


What Happens If I'm Denied For A Credit Card? – Credit Card Insider

Today's question is: What Happens If You Are Denied For A Credit Card?

Ask us your credit questions in the comments and find your next card at https://www.creditcardinsider.com/

There are many credit cards out there, designed for people with both good and bad credit. If you've had trouble getting credit cards, try looking into Secured Credit Cards, which require an initial security deposit to open.


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Will a Denied Credit Card Application Affect My Credit Score?

Jul 31, 2013 | Odysseas Papadimitriou , WalletHub CEO

Keep getting denied for credit cards

Yes, a credit card application that an issuer turns down will affect your credit score. However, the impact will be no different than what would result if your application gets approved, with the sole exception being that your credit won’t be further affected by a new trade line also appearing on your major credit reports.

You see, each time that you apply for a credit card, the respective credit card company will check out your credit history in order to make an informed decision about whether or not you can manage an additional line of credit as well as what card terms your previous financial performance warrants. This is what’s known as a hard inquiry. Credit card inquiries are listed individually on your Experian, Equifax, and TransUnion credit reports and will remain there for two years.

However, the only way for someone who looks at your credit reports to determine if you were approved or denied for a credit card will be to compare your inquiries to your trade lines.

This is all important as far as your credit score is concerned because credit scores are based on the information in your major credit reports, and “New Credit” (which includes inquiries and new trade lines) accounts for about 10% of your overall score. If you don’t get approved for a credit card, you obviously won’t reap the long-term credit score benefits of having a new account and the additional available credit that comes with it (assuming you use the account responsibly), but the denial itself won’t cause any more damage than if you were to get approved for a card and immediately cancel your new account.

How Significant Will the Damage Be?

The extent of the credit score damage that results from a credit card application depends on the number of applications you’ve submitted in the past year as well as the other information in your credit files.

The New Credit portion of your credit score takes into account recent inquiries (those made in the past 6-18 months, depending on the particular credit score). A number of inquiries made during that window indicate to banks and other decision makers looking into your credit history that you are potentially desperate for additional spending power. That, in turn, can signal that you are spending beyond your means and therefore run the risk of encountering serious financial difficulties, such as default or bankruptcy, in the near future.

Exactly how far your credit score falls as the result of multiple inquiries made within a short period of time is, as mentioned above, also a product of how much positive information you have in your credit reports to effectively devalue the impact of the numerous applications. If your credit reports indicate longtime responsible use of credit, then the impact will be far less significant than it would be if you had limited credit history or negative information in your files. In either case, there is no specific number by which your credit score will drop based on repeated credit card applications.

Nevertheless, we can definitively say that a single credit card application – regardless of whether it ends up getting approved or denied – will have little or no impact on your credit standing, and the damage resulting from multiple applications will only be temporary.

The best way to mitigate the damage of repeated credit card applications is obviously not to make them. But, you may ask, how are you then supposed to get a credit card in order to add positive information to your credit reports and improve your credit standing?

Secured credit cards are far easier to get than “normal” credit cards by virtue of their security deposit requirement. Credit card companies require that you place a refundable security deposit that will serve as your credit line when applying for a secured card because that eliminates much of the risk posed by extending credit to what is often considered a risky consumer segment.

So, your rule of thumb should be to apply for a secured card if you don’t get approved for a regular credit card after an application or two. In most cases, your credit will have improved enough after 12-15 months of responsible secured card use to get an unsecured credit card.

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What to Do if You’re Denied a Secured Credit Card

If you have a damaged credit history, or no credit history at all, a secured credit card can give you a chance to build or rebuild your credit. You apply for the card and, if approved, put down a cash deposit as collateral for the account. Usually, your security deposit will equal your credit limit amount. But what happens when you are denied a secured credit card?

Just because you apply for a secured credit card doesn’t mean you’ll get one. The lender might have concerns about your income level or your ability to pay bills on time, or might ding you for filing for bankruptcy in the past.

What happens if your application is rejected? Here are the steps to take so you can still work toward a better credit history.

Find Out Why You Were Denied a Secured Credit Card

You have the right to know if information in your credit report prevented you from being granted credit, insurance or employment. 1 Contact the lender for an explanation of their decision.

If something on your credit report led to a rejection, carefully look over your report for errors. You are entitled to one free credit report per year from each of the three major credit bureaus. If you see any incorrect information, dispute the errors.

There Are Other Ways to Build Credit History

Typically, a credit card company’s reasons for rejecting your application aren’t based in error—so you’ll need to find another way to build up your credit history. You have a few options.

Credit unions offer several credit-building services. Share-secured loans function like secured credit cards (you deposit money into a savings account and borrow against that money), while credit-builder loans are small loans that you can pay back in timely installments. Both options could help build your credit history. 2

If your parent, spouse or partner is a responsible user of credit cards, they could help you build your own credit history. They can add you as an authorized user of one of their credit cards, and the creditor will report on you both to the credit bureaus.

The catch? Your actions will affect each other. If the cardholder pays late, maxes out her card or racks up debt, it makes you look bad. Likewise, if you do those things, it negatively affects the cardholder’s credit. And the cardholder (not you) is responsible for any debt accumulated. So be careful with this route. Poor credit management could ruin two people’s credit—and it could hurt your relationship. 3

All hope is not lost if your application for a secured credit card is rejected. Make sure your credit report is error-free, and explore the other options to boost your credit score. Over time, you could put yourself in a better position to re-apply for a secured credit card.

Legal Disclaimer: This site is for educational purposes and is not a substitute for professional advice. The material on this site is not intended to provide legal, investment, or financial advice and does not indicate the availability of any Discover product or service. It does not guarantee that Discover offers or endorses a product or service. For specific advice about your unique circumstances, you may wish to consult a qualified professional.



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