You Tried For A Credit Card For Bad Credit Instant Approval But You Were Denied – Now What?

Credit Card for Bad Credit Instant Approval: Your Application is Pending

A pending application isn’t the end of the world but you will need to take a few steps to nudge your application in the right direction. I like to move quickly on these so as soon as one of my applications goes pending, I’ll call in right away to the reconsideration line.

Most banks have unlisted reconsideration lines that are used for situations just like this. All you need is your social security number or application number and the representative should be able to find your application with that info alone.

Often times, when applications go pending the bank just needs a little more info or maybe you made a small error on your application. There are lots of reasons why you think you are filling out a credit card for bad credit with instant approval but then it’s not instant; an application may go pending but even if you’re denied it’s still not the end of the world. Just give the reconsideration line a call but be ready to answer some tough questions.

Don’t Give Up If You’re Denied

Most applicants probably think it’s the end of the line when their application is denied. But if your application is denied you’re not a lost cause quite yet. You can actually call into the same reconsideration numbers and get someone to take a fresh look at your application again.

This is important because you want to be able to explain your situation and try to convince the customer service representative why you need this card. Your reasons might be solely because you want the bonus miles but that isn’t what you should tell the rep. Here are a few tips to keep in mind when calling the reconsideration line:

• What’s Your Credit History Look Like?
  One of the most common reasons for pending or denied applications is “too many inquiries within the past several months”. But maybe you were shopping around for a mortgage re-finance or looking for a car loan. If you can explain to the representative why you had so many inquiries and what each was for then it’s likely that they may reverse their decision. Get a copy of your credit history for free at annualcreditreport.com and take a look at your inquiries before you call in.
• Know Why You Want This Card
  As I mentioned earlier, you don’t want to tell the rep that you like this card because of it’s large sign-up bonus! Instead, mention that you like the benefits the card offers like double points on dining or no foreign transaction fees. If it’s an airline co-branded card for example, you can mention that you have a lot of upcoming flights with that airline so you’d like to purchase the flights with that airline’s credit card and try out their points program.
• Leverage Other Credit Cards
  It’s important that you never close any existing cards with that bank prior to calling in since these cards can be used as leverage for your new application. Often times, banks will let you transfer credit from other cards if you’re maxed out on credit with them. Or as a last resort, you can offer to close one of your existing cards that you no longer need/use in order to get this one opened.
• HUCA or Hang Up Call Again
  This is a strategy I’ve employed myself many times since every time you call a reconsideration line they have to do just that: reconsider your application. They might come to the same exact conclusion as the last representative but it’s also possible that you eventually find the right person who’s willing to work with you and approve your application. So never give up!

If all else fails, spend some time at credit card comparison websites, such as CreditCards.com. Find a card that has requirements which might work for you, like a secured card or department store card. Remember, there are always options for even the lowest credit scores.