It doesn't work like that. You mean people doing recons, reconsiderations, with banks like chase when you get decline on a credit card app. Some banks don't do recons on denied apps. Credit Unions sometimes counter offer the credit limit asked. My wife was counter from 10k to 2k on her Premier rate credit card but was approved beforehand just not for the asking limit. Some of them might do recons on declined apps too but not a guarantee they'll overturned the decision.
Then we have counter offers on credit limit increase. The only bank that seems to do that more often is Synchrony by calling their credit solutions. You might call and ask for 10k on any of their cards, they ask you a few qustions and put you on hold and if your profile supports it it is granted if not they counter with a lower amount than asked.
I think you need to read up here for a while before going app crazy thinking you'll get counters.
AU:
Oh my bad I read it fast. With my scores I was denied a BofA cash rewards but was countered with their Cash Reward secured card $99 for a $500 limit. I rejected their counter offer because I'm way pass that rebuild stage to settle for a secured card.
Cap One might send you a counter for their secured card.
@ddemari wrote:
The only counter I have received was for discover joint application, no thanks! They don't even want to give me a secured card. Although discover likes someone with less credit and a lower score so u might get a counter offer from them.
Same with me. Been trying for a year and no luck. Maybe when my BK is off EQ then I'll get a chance, hopefully!
@Anonymous wrote:Hi guys,
I am looking to build my credit but at the same time want to get good cards.
I heard that when you apply for a card sometimes you get rejected but then banks offer a counter offer??? I actually think this might be better for someone like me because I don't want my credit score to get hurt anymore
Are there products and services like this?
Which banks and products offer this service?
After joining Pen Fed a year ago, I applied for a credit card with them, but was denied. They allowed me to use the HP to open a secured card with a $500 deposit for the $500 CL. Higher deposit for security leads to a higher CL.
With State Department Federal CU, you can open a savings account, and get their SDFCU Secured credit card with no credit check, no HP at all. I went through that earlier this year, just to see it work, and indeed, no HP. You fund your savings with anything from $250 on up to over $2k and that is your secured limit, you control the limit and you can add to it later. For a guaranteed card issuance with no HP, it simply can't be beat.
For regular banks, if you apply for the US Bank Cash+, sometimes they will counteroffer the CashRewards or a lesser card. The lesser card is a way to build up some history with US Bank, who has some good rewards cards, Cash+ being the most popular, but others as well. They often give automatic CLI after nearly a year, and once you build a history with US Bank, their products get easier to obtain.
