Will Capital One give you a second chance?

Capital One may give you a second chance, as it offers second chance credit cards to people with poor credit and has a reconsideration process that gives rejected applicants a second chance at approval. The Capital One Quicksilver Secured Cash Rewards Credit Card is the best second chance credit card, and you can call customer service to ask about reconsideration.

Note that Capital One will likely deny your application for a second chance card if you have a non-discharged bankruptcy on your credit report, a past-due or recently charged-off Capital One credit card account, or a Capital One card with a balance above your credit limit. Reconsideration is unlikely to be successful unless you are able to demonstrate that your credit score or financial situation has improved since you applied.

Second-Chance Credit Cards From Capital One

(see details, rates & fees)

Annual Fee: $0

Minimum Deposit: $200

Minimum Credit Required: Bad

Reports to Major Credit Bureaus: Yes

(see details, rates & fees)

Annual Fee: $0

Minimum Deposit: $49, $99 or $200

Minimum Credit Required: Bad

Reports to Major Credit Bureaus: Yes

Capital One Reconsideration

If your application for a Capital One credit card is denied, Capital One may give you a second chance through its reconsideration process. Reconsideration is an opportunity for you to make the case for why Capital One should accept your application. There’s no dedicated reconsideration line, so you will need to call Capital One’s general customer service line.

You might want to ask for reconsideration if your finances have improved since you applied. Common reasons could be a pay raise from your job or a negative credit report error being resolved in your favor. Reconsideration may also be an option if you’ve fixed any incomplete or incorrect information from your original application.

Learn more about credit card reconsideration on WalletHub.