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One of the best things about blogging is getting lots of emails from readers sharing their successes!
Richard writes in to remind us that an initial rejection of your credit card application may be converted into an approval.
“For those whose credit is not in the 800’s or 900’s take heart and don’t despair. Because of previous but significant life events my credit score is sub-700. However, I’ve been able to get several (Citi card and US Air) travel mile credit cards nonetheless.
The other day I applied for a Bank of America Alaska Airlines credit card for which I was initially turned down. So I decided to fight the good fight! I called and asked to speak to a senior credit analyst and for about 15 minutes went into lengthy explanations about my credit history and why I thought I was credit worthy for the card.
The analyst patiently and, I might add, sympathetically listened to my story. Afterwards he said that he would try to get me approved for the card and all he needed was his manager to approve it. I called back today and I found out I was approved. Another 25K miles in my account! My motto – “No” is not acceptable!” – Richard”
Bottom Line: If you are denied for a credit card, call the bank’s reconsideration line and explain to them why you are a good credit risk and how approving you for a credit will be mutually beneficial.
However, if your credit score is substantially below 700, I wouldn’t recommend applying for a lot of credit cards at once. It is much better to start with just one card and see how banks assess you. And if you are unable to get approved even after calling the reconsideration line, it may be best to lie low and wait for your credit score to rise.
Thanks to Richard for sharing his story!
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