Credit Card Reconsideration Letter
In the past I have written about reconsideration strategies for when calling in fails. I definitely recommend reading my original post for more detailed ideas, but reconsideration can be done via chat, secure message and as a last resort, sending in a letter.
While Citi used to famously require you to send in a letter to their Executive Department for reconsideration, just about every bank has an address you can mail to. This address is found on the denial letter that you receive in the mail. I have personally written letters to Capital One, Citi and Bank of America among others.
One of my readers recently asked me for a copy of a letter that I have written, so I found one and took out any specific references so I can post it here. This letter did work to get me reconsidered several times in the past. (I’m not sure if I am going to write one for my latest Citi denial.)
Things to Include
Before I post the sample, let me talk about a few things I believe should be in every credit card reconsideration letter:
- No credit pull: I specifically mention that I am not authorizing an additional credit pull. You may feel this isn’t necessary, but one bank re-ran my credit after receiving a letter and the application was less than 2 weeks old. (Note: Most banks will re-use a credit report for 30 days after your application.)
- Specific features: Always make sure to include the features of the card and how they will benefit you. You will notice that I use generic language in the letter, but you should be specific.
- Small credit line: Who cares about the size of the credit line? At this point you just want to salvage the application. Desperate people want big lines. By saying the opposite you look better to the bank.
- Shift credit or close another account: If you are willing to close another account or shift credit, then mention it. I did this once in a secure message with Chase and it was all done without me needing to talk to anyone.
Sample Credit Card Reconsideration Letter
Without drawing this out further, here is the letter. Please know this letter is not guaranteed to work for anyone, but it has worked for me. I highly suggest using it as a guide only and writing a letter in your own voice that is more specific to your circumstances.
Executive Review Department
123 Maple Lane
Los Angeles, CA 91326
To Whom It May Concern:
Hello, I am writing in regards to my application for _____________card with reference #5454545454545. I was disappointed to hear of my denial considering my stellar credit history and my past relationship with your bank.
Recently, I have been traveling quite a lot and thus feel the features and benefits of this card would be useful for me. (Insert specific features.) I am not asking for a large amount of credit, but simply enough to enjoy this card’s wonderful benefits while also continuing to prove my value to you as a customer. (Optional: I am even willing to shift credit from XYZ card if that is required.)
I am hoping this letter finds its way to someone who can help me get this application reconsidered, however I am not authorizing an additional credit pull. Thank you in advance and please know that I sincerely appreciate your time and any help you can provide. If you have any further questions I can be reached at 702-555-1212 or via email at email@example.com
So there it is. As you can see there really isn’t anything overly complicated about it. In fact, the more concise your letter is the better. Have you ever had success writing a reconsideration letter? Let us know in the comments.