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Got Declined? Here's Why.

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Got Declined? Here's Why.

06/10/24 11:17 am

Have you been wondering why you might have been declined on a credit card application? Here are some common reasons you might not get that approval you expected. 

 

1. Check your credit score

Most cards have a "recommended" credit score outlined on their application site. Make sure your score is in line before applying.

 

2. You don't have enough credit history

Card issuers want some assurance that you know how to pay off debts and want to see a history of credit under your name.

 

3. Too many new accounts or hard inquiries

If you recently opened new credit card accounts or applied for a new card or loan which led to a hard credit pull, card issuers might flag it in their approval process.

 

On a similar note, there's a well known Chase 5/24 rule, which means Chase does not approve an applicant for more than 5 cards in a 24 month period. 

 

 4. Still not sure?

If none of the above apply to you, or you want to find out which or plead your case, you can try calling the issuer reconsideration line.

 

If you do call, be prepared to sell yourself as credit-worthy, and make sure to treat the representative nicely.

  • American Express: 1-800-567-1083
  • Bank of America: 1-866-422-8089
  • Capital One: 1-800-903-9177
  • Chase Personal: 1-888-609-7805
  • Chase Business: 1-800-453-9719
  • Citi: 1-866-606-2787
  • Discover: 1-800-347-3085
  • Wells Fargo: 1-800-967-9521 



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