DENIED CREDIT CARD APPLICATION? Here's What to Do!

Were you recently denied for a credit card? Don't worry, in this video, I'm going to break down top reasons why your credit card application may have been denied, and show you the next best steps to take. So, if you're looking for guidance on what to do after being denied a credit card, join me in this video now!
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[@JohnsCreditAndFinance]

I was denied for WF AC & Citi CC in the same month time span.. I had just gotten the Apple Card and the new account hadn’t hit my report yet so I said “screw it, might as well try to get a bonus card.” But nope. They see from my previous accounts that I have “too many new revolving accounts” .. so I’m going to wait until they turn a year old by Dec. 28th and apply for one of them again!

[@shazierd]

You don't have to wait - they've already created the account for their financial benefit now. Send them a simple letter citing the Equal Credit Opportunity Act, which basically states denial of access to your credit on any basis is unlawful (see 'Adverse Action'). Ask them for the factors impacting their decision. Cite the Fair Credit Reporting Act, the Fair Debt Collection Practices Act; all of which are governed by the Consumer Financial Protection Bureau. Ask them to send you the application they denied, along with the open ended revolving line of credit based on the 'full allotment' from your credits! The application is the (underlying) financial instrument / contract you executed with your signature & SSN that gave them access to your credits, which they used to monetize and enrich themselves by crediting the ledger account your SSN created for their books.

[@alejop5976]

Thank you for this, I’m hoping to get approved for the chase freedom unlimited in December

[@deweydewey]

Chase is not consumer friendly, i banked with them over 10 yrs . Unless u have a million dollars stay away from chase

[@codecreateurroku6764]

Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits, such as regularly setting aside money for sound investments...

[@ruadasflores7559]

I am excited 😊 my life has totally changed. I have been benefiting $10,250 from my $4,000 investment every 14days

[@scrumpy615]

I invested with Ricky, i make about a 30,000USD every month.

[@채은우CHAEUN_WOO]

I heard a lot of investing with Mr Ricky wen and how good he is, please how safe are the profit?

[@sky9935]

I trade with him, The profit are secured and over a 100% return on investment directly sent to your wallet.

[@vilasaojose6703]

@rickywen2

[@reginabaskin726]

Love your videos

[@ethiobeat360]

I got denied any f up on my day. I just subscribed

[@Krystaldoll282]

My credit card application says pending! Which I take is going to be denied. What’s the chances of actually getting an approval? I have a lot of revolving credit card accounts. I tried to apply for a balance transfer card. I make my payments on time, all the time. I have for 10 plus years since my divorce. Anyway wondered what your thoughts were. My credit score is 680ish.

[@shazierd]

Read the ECOA 12 CFR 1002 et all. 12 cfr 1002.7 Rules concerning extension of credit, specifically states '(a) Individual accounts. A creditor shall not refuse to grant an individual account on the basis of sex, marital status, or any other prohibited basis'. And, '(c) Action concerning existing open-end accounts-(1) Limitations. In the absence of evidence of the applicant's inability or unwillingness to repay, a creditor shall not take any of the following actions regarding an applicant who is contractually liable on an existing open-end account on the basis of the applicant's reaching a certain age or retiring or on the basis of a change in the applicant's name or marital status: (i) Require a reapplication, except as provided in paragraph (c)(2) of this section; (ii) Change the terms of the account; or (iii) Terminate the account.'

[@Jonathan900S]

I have credit up to 3000$ I denied credit card from other I have debt 4000$ I am 26 this age is risk it says on credit report

[@Jonathan900S]

No payment issue or Bankruptcy Or collection

[@Loqsta]

How many credit lines you got

[@cryptoknight3009]

Just saw this video an I actually applied for the nasa card some days ago was pre-approved for 20k clicked the submit button but got denied is it cuz my new addy is still not on public records (my new addy is already on all three major credit bureaus tho I called them an told the bureaus to add it) cuz when I tried applying for kickoff they told me we can't verify ur info against ur public records (also can't even open a bank acc) or is it cuz I need to build a payment history using my new addy. Thanks

[@서현-g1i]

i just apply my second credit card in 3 months after my first one and i got instant denied and my score dropped 6 whys that? and how do i recover from that

[@서현-g1i]

@@Email-naamwynn72_Gmail. yes

[@speedy.sparrow]

I was told by Bank of America that they can’t reconsider, unless there was an error on my original application?

[@speedy.sparrow]

@@Email-naamwynn72_Gmail. I'm not sure I'm only basing it off what they affixed to me. They said unless there was an error then they cannot reconsider I was like ergh! It's too late now as the timing has long passed, but I think the person I got must of been a dud and didn't know what he was doing.

[@NutsNBerries]

They’re lying

[@JB_gliding]

question... I got approved with a great amount but an 18%apr with a letter stating No Retail accounts reported... what are the retail accounts navy fed would be talking about????

[@patrickambler749]

Do you do any private credit consulting? Like, looking over someone's current credit situation and giving them tailored tips to strengthen their profile? I originally got denied for a Home Depot consumer card and my credit score is over 800 with perfect on-time payment less than 5% credit utilization.

[@mikeyoung7640]

You can’t build credit on being on authorize user I already checked even though I have enough credit history also there only 2 credit bureaus

[@sc390]

Good Afternoon. There is no way to get credit US No tradeline

[@josephtorres2042]

I was denied for a Capital One Venture X this week and given only one reason: too many revolving accounts. Is that the same as violating the 5/24 rule?

[@NaamWynn]

We know that Capital One has its own rules, but still a mystery on their actual application rules.

[@shazierd]

What is the 5/24 rule?

[@G-JRebuild]

on the navy pledged loan after you pay 90% off how long dose it take for the money to be put back in the account i head it can take 2-3 days

[@Kyria-l2c]

I was in the middles of doing my application for a discover it student secure card , i guess i took to long to enter a eteller id and password when i came back it said i was denied. I didnt even get through the whole process, it did say if i was to click off my application will be denied. How can i fix this will i be able to reapply?

[@kaden4897]

I don’t have a credit card but I have a credit score. I’ve applied for different cards and been denied by all I’m not sure how I’m supposed to build my credit if I can’t even get a card. Any help?

[@NaamWynn]

Its possible you may have a thin profile or have a high risk profile. In this just get secured cards or no check credit builders to thicken your profile.

[@argosrubengarcia]

I’ve gotten pre approved for pen fed but then got declined. Not sure if I should do there secure loan. So in 4 months to 12 months to get a card from them.

[@NaamWynn]

Sorry to hear that. That sometimes happen. A secured loan should better your odds and relationship.