To contact the Home Depot® Credit Card reconsideration line, call 1 (800) 695-5171. The Home Depot® Credit Card reconsideration line is a way for denied applicants to request a second review of their application and potentially get the denial overturned.
If you call to request reconsideration from Citibank, make sure you are prepared to make an argument for why you should be approved. You will typically only have a shot at overturning a denial if you can prove that your financial profile is better than it appeared on your initial application.
For example, if your credit score went up significantly or you got a raise since you applied, you could argue that you are now more creditworthy. Alternatively, if you were denied because of incomplete or incorrect information on the application, you could ask for reconsideration after fixing that error.
At the end of the day, you probably won’t be successful in overturning your denial, but there’s no harm in trying.
You should wait six months to one year between credit card applications in most cases, regardless of whether your last application was approved or denied. Most people’s credit scores will bounce back from a credit card application in about six months. The same rule applies if you’re trying to reapply for the same credit card you were denied for (though you should make sure you’ve addressed the … read full answerreasons stated in your rejection letter before you apply again).
When your credit card application is denied, it doesn’t show up on your credit report. But the card issuer’s hard inquiry, or credit check, does – and too many of them in a short period of time can hurt your credit score and make you look desperate for credit. One hard inquiry won’t hurt your credit score too much – scores generally take a hit of a few points for each inquiry. But that effect can be compounded by multiple hard pulls in a short period of time. Hard inquiries can stay on your credit report for up to two years, and they can affect your credit score for one year.
While denials don’t affect your credit score beyond the initial credit check, you might imagine that lots of recent hard inquiries without corresponding credit accounts could look bad to a card issuer. In fact, a card issuer can deny your application because of too many recent hard inquiries. Issuers aren’t just being paranoid, either. Statistics show that people with six or more hard inquiries on their credit report can be up to eight times more likely to file for bankruptcy than people with no inquiries. So lots of inquiries potentially signal lots of risk for the card issuer.
Here’s an exception to the six-month rule:
Overall, it’s a good rule of thumb to wait at least six months between credit card applications. You’ll minimize credit score damage by waiting, which will increase your future approval odds. That said, there is an exception to the six-month rule. If you’re trying to build credit and your most recent credit card application has been denied, you don’t need to let six months pass before you apply for a secured credit card. Secured cards build credit just like unsecured credit cards, but secured cards tend to be much easier to get approved for. The sooner you get one and start using it responsibly, the better for your credit.
Don't worry! 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. Here are several suggestions:
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.… read full answer
2. Submit your case via planetfeedback.com. 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.
Greetings, I am writing requesting reconsideration of the denial of my recent xxxxxx card application. It appears I was denied after you pulled my Fcredit 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 xxxx and a loan lender shopping me around without my permission. Card Utilization: I also do indeed have high utilization reporting at this time. This was due to xxxx. 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. . You will notice I have no other late payments, collection accounts or, general negative items on my report. I have had credit for xx years with xx 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.
You can check your credit card application status either online or over the phone, depending on the credit card company. Many credit card applicants receive a decision within minutes, but it can take longer if the issuer needs more information or if it’s a close call between approval and rejection. Some credit card applications stay in pending status for up to 30 days.… read full answer
All major credit card companies allow applicants to check their status by calling the main customer service line and following the prompts. Most major issuers – including American Express, Bank of America and Citibank – also offer a way to check your credit card application status online.
How to Check Your Credit Card Application Status with Major Issuers:
Whether you’re trying to check your application status online or over the phone, it can be stressful dealing with a pending credit card decision. Rest assured that even if you are eventually denied, you still have plenty of options.
Approval criteria for credit cards differ from one issuer to the next, and even from card to card with the same issuer. So if you’re denied for one card, it doesn’t mean you can’t be approved for another. For more information, check out this guide on what to do if your credit card application is denied.
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