• Skip to main content
  • Skip to primary sidebar

Ask Liz Weston

Get smart with your money

  • About
  • Liz’s Books
  • Speaking
  • Disclosure
  • Contact

Q&A: Great credit, but rejected for a credit card. What gives?

April 1, 2024 By Liz Weston

Dear Liz: I recently applied online for a credit card and was rejected, as my credit reports were frozen. I thawed them and applied again, only to be declined again. I received a letter stating that the rejection was because I have no installment credit history. I have no debt, credit scores in the mid-800s and $2 million in retirement accounts. Our paid-for home is valued at approximately $1million. This makes zero sense.

Answer: Federal law requires credit card issuers to send the “adverse action” letter you received to explain why your application was denied. But that letter doesn’t have to be the last word.

You can call the issuer and politely ask that your application be reconsidered. Most credit applications are evaluated by algorithms, rather than people. Getting a human involved can make all the difference, so you’ll want to get this person on your side. Be friendly and polite.

Mention all of the factors in your favor, such as a steady income and a (presumably) long history of handling credit cards responsibly. Explain that you don’t have an installment loan, such as a mortgage, because your home is paid off. If you have an existing relationship with the issuer, such as other credit cards or bank accounts, mention that as well.

There are no guarantees you’ll be successful if you ask, but you’re guaranteed not to get the card if you don’t ask. Good luck!

Related Posts

  • Find a better credit card

    Dear Liz: One of my credit cards offers mediocre rewards — mainly an online store…

  • Opt out of credit card offers

    Dear Liz: I am receiving many unsolicited credit card offers in the mail and am…

  • Q&A: Credit CARD Act

    Dear Liz: I have a business credit card that offers cash rebates. It has an…

  • How to get off credit card marketing lists

    Dear Liz: Where can I sign up to have my name removed from the mailing…

Filed Under: Credit Cards, Credit Scoring, Q&A Tagged With: appealing a credit card rejection, appealing a credit decision, applying for credit, credit application, Credit Cards, credit report, Credit Score, Credit Scores, credit scoring, installment loans

Reader Interactions

Comments

  1. kara thrace says

    April 5, 2024 at 9:05 am

    re: https://asklizweston.com/qa-great-credit-but-rejected-for-a-credit-card-what-gives/

    The issue may be the self-reported reported income when applying. I had the same issue with a United Explorer card application, got rejected and reapplied with a higher income and got accepted within hours.

  2. Christine Shirley says

    April 8, 2024 at 9:35 am

    Could be that the credit card company is looking at your income, not your assets.

Primary Sidebar

Search

Copyright © 2025 · Ask Liz Weston 2.0 On Genesis Framework · WordPress · Log in