Have you ever applied for a credit card online and didn't instantly get approved? The first thing you need to check is if you were rejected or if they're still making a decision by calling the reconsideration line. A lot of people who aren't automatically approved assume they've been rejected.
If you're not instantly approved for a card, call the automated status line immediately to check the status of your application. The number may change in the future. h/t Doctor of Credit for the most updated list of recon numbers.
Reconsideration line phone number: 888-270-2127
Once you make the call, they're going to give you a message. If it says they'll let you know within 30 days, it means Chase has not processed the application yet. However, if the message says two weeks, this typically means you're approved. If it says 7-10 days, then it typically means you were rejected for the card.
Important note: these are based on phone messages and not email communication.
If you have the 7-10 day message, this likely means you were rejected. You can either wait for a letter or immediately call the reconsideration line to see if they will approve you. Before calling the reconsideration line, there are two rules you need to be aware of:
1. Chase 5/24 - if you opened more than five credit card accounts within the past 24 months, you'll automatically be rejected.
2. Chase 2/30 - if you have more than two applications within the past 30 days, Chase will not approve you.
When you call the reconsideration line, you're trying to convince the person on the other line to approve the application. You're usually speaking to a credit analyst, so be sure to call during business hours. These calls can vary drastically depending on what your credit profile looks like.
For example, my friend called the reconsideration line after applying for two Southwest credit cards on the same day and had to explain that they were aiming for Companion Pass. After explaining why they wanted the card, the analyst approved the card.
Again, depending on the specific reason the application is under review, your mileage may vary.
Another scenario is that Chase typically issues a total credit limit equivalent to half of your income. You may have to reallocate or lower the credit limits on some cards to get approved for a new card.
If you go through the reconsideration process and they still don't approve you, it might be worth hanging up and trying again a few hours or days later.
One other factor to consider is that if you are relatively new to credit, it's hard to get approved for travel cards like the Chase Sapphire Preferred or the Chase Sapphire Reserve. If you get rejected, the strategy would be to build a relationship with Chase by getting a Chase Freedom for 3-9 months before applying for a higher tier card.