You’ve filled out the credit card application and now you’re holding your breath—will they approve you? It doesn’t matter how many cards I’ve applied for, I still love/hate the anticipation of finding out if I am instantly approved! Here are some things you can do to increase your odds of a credit card approval.

 

Credit Score Near or Over 700

I’m not a financial advisor and I’m sure there are stories of people with credit scores under 700 who are approved for credit cards. However, to increase your odds of a credit card approval, the first step is to increase your credit score. Pay on time, pay in full, and use your credit card for normal everyday spending. Having a credit card does not mean you can go out and buy whatever you want—only buy things you’d normally buy and that you can pay for in full, and think of your credit card like it’s really a debit card. You can make progress on a good credit score by keeping your spending in check. Sign up for a free account on Credit Karma to keep track of your credit score.

 

Check Applications for Errors

Be sure to fill out your applications correctly. A hurried application with a typo can definitely cause a rejection. I handle a lot of my husband’s financials as well as my own, and I once incorrectly put his social security information on my application. Oops! I received a denial on that application.  When I called the reconsideration line to figure out the problem, they reviewed my information, and I realized what I had done. They were great about changing it and approving me.

 

 

Know your 5/24 Status

If you are applying for a Chase credit card and don’t know your Chase 5/24 status, you could be in for an unexpected denial. Make sure you are not over 5/24 if you apply for Chase cards. We use the wonderful TravelFreely app to help us keep track of our status.

 

Consider Different Credit Cards

Some credit cards are harder to get approved for than other cards are. If you have been turned down by Chase, try out American Express credit cards. You can increase your odds of a credit card approval if you move on to another issuer if one issuer has denied you. There are a lot of different issuers. Here are some:

• Chase
• American Express
• Citibank
• Bank of America
• Barclays
• Capital One
• Wells Fargo
• U.S. Bank
• Discover
• Synchrony

 

Reconsideration Lines

Everyone gets a denial at some point. The key is to not just accept it and give up. Always call a reconsideration line. There are so many times that there is just a small reason that you are denied, and sometimes figuring that out with a simple call means you’ll get approved after all.

Doctor of Credit offers a list of reconsideration lines.  When you call, you can say something like this: “Hello. Recently, I applied for your [name the credit card you applied for] and was surprised that I was denied (or not immediately approved). I was hoping I could get more information on why this happened and maybe have the decision reconsidered.”

I have had a few denials and have had many of the decisions reversed when I called. It is such an easy fix in so many cases. Note: Chase business cards seem to be the exception for many people lately.

 

 

Bottom Line

Following some of these simple steps can increase your chances of being approved for a credit card. Always remember to call the reconsideration line if you are denied a credit card—you just might get that approval after all!