Moderator Emeritus
Posts: 6,182
Registered: ‎03-29-2007
Try Reconsideration! It works!
Denied a credit card, loan, ect. recently?


Don't Fret! Call or write asking for a reconsideration! Denials are often computer generated based strictly on score. A manual review by an underwriter can often get you the approval you are looking for. I recommend one of the following:


1. Call the number on your denial letter and ask for your application to be reconsidered. If possible, try and get a hold of someone in underwriting. Be prepared to explain the derogs on your report and why you feel you should be approved.


2. Submit your case via PFB is an excellent resource for getting directly in contact with executive and corporate offices.


3. Send a reconsideration letter. There are no " sample letters" persay for recon. You need to take your denial reasons and plead for reconsideration based on you and your individual reason(s) and your explanations.


Here is one I used for a friend who was declined recently (the letter worked BTW):




Ref: 000000000000000



I am writing requesting reconsideration of the denial of my recent xxxxxx card application.

It appears I was denied after you pulled my CRA HERE report. While the letter I received did not include specific reasons as to why I was denied, I would still like to go over the potentially negative information on my report.

High Inquiries:

I do have high credit inquiries at this time. Most of these are due to a mortgage and auto lender shopping me around without my permission.

Card Utilization:

I also do indeed have high utilization reporting at this time. This was due to helping a family member in need. I recently paid off my credit cards, and I expect my report to reflect these changes within 30 days.

One Collection Account

There is one derogatory item on my Equifax report that is there in error. I have disputed this with all three credit bureaus. Transunion and Experian have already deleted, and Equifax should be removing it anytime. I expect my Equifax report to reflect these changes within 30 days. I can provide copies of my TransUnion and Experian reports for proof.

You will notice I have no other late payments, collection accounts or, general negative items on my report. I have had credit for 14 years with 22 open tradelines with perfect payment history. I appreciate you taking the time to reconsider my application. I hope my explanation clears things up so I can be another proud xxxxxx card holder and customer.


Sincerely, you