Jedi Mind Trick

So you made the jump. You decided to perform a credit card churn. 

You’ve just completed six choice credit card applications and the world is your oyster.

So what happens next?

In all likelihood you will get some instant approvals, and some pending notices.

In terms of getting your credit report checked with hard credit checks, the train has left the station. The damage has been done.

Your job now is to try to ensure that every application is eventually approved so that you may reap the rewards of your efforts.

This is where a call to the credit card company’s reconsideration line is most useful.

But before you do, some frequently asked questions:

Q: What number should you call?
A: (Courtesy of travelsort.com)

1. Chase Credit Card Reconsideration
888-245-0625 (personal)
800-453-9719 (business)

2. American Express Credit Card Reconsideration
877-399-3083

3. Citibank Credit Card Reconsideration
800-695-517

4. Bank of America Credit Card Reconsideration
866-458-8805 ( personal)
800-481-8277 (business )

5. Barclays Credit Card Reconsideration
866-408-4064. (credit analyst)

Q: What should I expect during the conversation?

You’ll probably be asked about your address, your income, your reason for wanting the card, and possibly why you have so many prior credit card applications.

You should have ready answers to all of these questions.  You should specifically know why you want that particular card. Hint: think of something unique about the card that has nothing to do with miles. (ie. No foreign transaction fee, the ability to use it with an airline that you will now be flying more frequently for business, rental car coverage, etc.)

Q: What are some useful angles to take?

A: Stress your business relationship with the bank. If you have a good credit score stress that. Be polite. And if you get the sense that the credit analyst on the other end of the line is not likely to be receptive to your requests, by all means politely hangup and call back in order to speak with a more flexible credit analyst.

Q: Is there anything else you can offer to improve your odds?

A: If you already have a line of credit with that credit card company on a different card, offer to lower the current line of credit and extend it to the new card. This will be useful if you have reached your company specific ceiling on the amount of credit that you will be extended based on your current statistics.

Q: Are there any words of wisdom to ponder consider prior to making the call?

A: Do or do not. There is no try.

(And may the force be with you)