Brent’s Credit and Debt blog

I hate those letters.  I used to get them a lot.  They tell me that I have been denied, yet again, for the credit card that I wanted.

It was my fault.  My credit scores were terrible.  I couldn’t really blame the companies that I applied with.  I had a bankruptcy, and late payments, and car repossession, and a foreclosure, and over limits, and things like that.  But I am a really nice guy, and I have a job!

They don’t care.

As far as a creditor is concerned, I am a set of numbers.  I have a score, and a few ratings, and a number of payments that were late 30, 60, or 90 days.  All they care about is those numbers, and the dates those numbers occurred.

But, I was trying to rebuild my credit!  I had learned about credit, and become responsible.  My payments were on time, I paid more than I had to, and I NEVER went over my limit!  It’s true, I didn’t really need any more credit, but I wanted more to build my scores with.

What to do?  Well, I decided to go with the personal touch.

I took that denial letter, and I called them!  I called GE Credit.  The customer service person that I talked to was very pleasant, listened to my explanation, and told me he couldn’t help.  He invited me to write a letter to explain my case, and promised they would review it.

I wrote down the address, thanked him for his time, and wrote a letter.  I explained what had happened in my life, what I had learned, and how I was moving forward to improve my credit situation.  I sent the letter, and waited.

A couple of weeks later, I had a new card!  They liked my letter enough to give me a line.  $500.00 to start, but it WAS a start.

That credit will stay with me for a long time.  I use the card very little, but it is a big part of my credit-building toolbox.  And all it took was a 5 minute phone call, and a single letter.  And 27 cents for a stamp (oh, the good old days of cheap postage).

If you get a denial letter, show them you are a serious credit consumer with a plan.  Let them know that you recognize your failures, and have a plan for success.  You may not get the result you want, but on the other hand they may just award you that card of your dreams.

Just don’t expect an unlimited credit line from Amex.  It isn’t going to happen.  Yet.