Evertyhing school didn't teach you about credit cards: • Video
Credit 101: danieliles.tea...
I'm gonna share exactly how you can get approved for every single credit card and what you should do if you got denied to make them reconsider.
If you can take the 10 minutes to watch this video you won’t have any problem landing any credit card you want and the more cards you get with this strategy the EASIER it will be to get EVEN MORE credit cards since your total available credit will just get bigger and bigger.
This strategy will work even if you get approved and just want a higher credit limit but if you got denied or got message that you will receive a letter mail with your denial this strategy is the solution.
So when you get this approval with a credit limit that isn’t high enough, or when you get denied, or when your denial gets procrastinated what you need to do is to get them to reconsider. You are going to do this by calling the financial institution’s reconsideration line and having a customer representative reverse the bank’s decision for you.
The power of the reconsideration line cannot be overstated, these guys have SO MUCH POWER and can COMPLETELY change your outcome in just a few minutes.
Now when calling the person you want to be on your best behavior and be polite as possible.
Next, and probably the most important thing, is that you want to have ALL of your information prepared before hand.
You should be calling from the perspective that you are SURPRISED you didn’t get approved. While people are people and the personal rapport you build in a minute with the person on the other line is important you need to present YOURSELF as an informed person which will raise your negotiating power.
Likewise, you want to know about the card you are applying for. You need to know it’s potential APR, the annual fee, the rewards points you get for different purchases, the no interest for 12 months, these are also all good things to be aware of and potentially slip into conversation.
If you are worried that you might not remember everything it is completely okay to write out bullet points of what you want to say. If that keeps your from tripping over your words it is well worth doing so.
The next most important thing, is if you are a credit card churner who, like myself, is just in it to abuse credit cards and take the banks for all they are willing to give you in free travel and cash back, DON’T ACT LIKE IT.
However, on the other hand. It would be GREATLY beneficial to your argument if you had a large home renovation or a rehab on a rental property or were going to make a downpayment on a car. If the customer rep knows your are going to put 5 or 10k on the card RIGHT AWAY, which is the intended use for the credit card, they will be very very likely to get the card.
Lastly, if NONE of this has worked and the customer rep you got is just having a bad day and not wanting to give you what you want, all you have to do is thank them politely for the consideration, and call again.
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Credit 101: bit.ly/credit10...
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