Credit Cards

turned down for Credit card - worth going into bank to speak to advisor?

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  • Sep 2nd, 2021 7:10 pm
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[OP]
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Dec 24, 2002
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turned down for Credit card - worth going into bank to speak to advisor?

So I have accounts with TD bank and recently applied for a TD Aeroplan Ultimate Visa - i got turned down despite meeting income requirements and credit score 800+ - the email suggested I could talk to a bank rep at my local branch...is it worth it , or am I wasting my time ? I'd like the card for FYF and Aeroplan points .
17 replies
Sr. Member
Mar 25, 2015
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If you think there's no real reason for that deny, I would certainly suggest to appeal and ask for reconsideration.
Deal Addict
Feb 4, 2019
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BC
Yes it is possible to get approved in branch but IME the branch rep will just call TD credit cards and ask for reconsideration, so you could try this yourself first as well. If that fails, you could still try in branch.

If it's worth it is up to you and depends how badly you want the card. You have nothing to lose except time.

Alternatively apply for the CIBC AP VI, lots of DPs of people getting rejected by TD but approved by CIBC.
Deal Guru
Dec 5, 2006
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Markham
rb wrote: So I have accounts with TD bank and recently applied for a TD Aeroplan Ultimate Visa - i got turned down despite meeting income requirements and credit score 800+ - the email suggested I could talk to a bank rep at my local branch...is it worth it , or am I wasting my time ? I'd like the card for FYF and Aeroplan points .
Might be first call TD hotlines to ask. From what I read, they might suggest you cancel some non TD credit card and try again, but no guarantee you will get approval

The issue is customer service or advisor has no idea why you get declined, so they might just give you advice based on their experience in the past

But advisor in branch (at least in Scotiabank) can request manual review and get decision override
Deal Addict
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Oct 13, 2007
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rb wrote: So I have accounts with TD bank and recently applied for a TD Aeroplan Ultimate Visa - i got turned down despite meeting income requirements and credit score 800+ - the email suggested I could talk to a bank rep at my local branch...is it worth it , or am I wasting my time ? I'd like the card for FYF and Aeroplan points .
TD is a little stingy with credit. If you have accounts with them and a good credit score, it’s probably because (they think) you have too much credit extended in relation to income/expenses.

If you don’t have a relationship with anyone at the bank, it will be hit & miss as you may just end up dealing with a dolt.

If you have an existing credit card with TD, see if they will do a product switch; otherwise, try another bank. CIBC has a lot of Aeroplan cards.
Deal Fanatic
Jan 21, 2014
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starchoice wrote: TD is a little stingy with credit. If you have accounts with them and a good credit score, it’s probably because (they think) you have too much credit extended in relation to income/expenses.

If you don’t have a relationship with anyone at the bank, it will be hit & miss as you may just end up dealing with a dolt.

If you have an existing credit card with TD, see if they will do a product switch; otherwise, try another bank. CIBC has a lot of Aeroplan cards.
It wasn't like that in my case. I have $36.5K CL on my FCT and I just applied for AP VI without any issue. Before that, I had applied for CB VI too. I just only request $5K on any new card I applied each time
Sr. Member
Dec 22, 2004
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Toronto
This exact thing happened to me a couple of months ago when I applied for the Aeroplan Infinite Privilege. I was seething mad when I got the rejection screen because I have never been rejected for credit. I have only one late payment in the last 10 years and it was only late by 2 days. I make over $200K by myself (not household). So I immediately called customer support and they couldn’t help me because they couldn’t see anything on their system because it was too soon. I was told to call back in 24 hours or go to a branch. So I took my 2020 tax assessment and walked to branch and told the teller that I was rejected and wanted to know why. The manager came over and told me that their system is basically crap. They sat me with an advisor and 15 mins later I walked out approved. So yeah, don’t go by the on line assessment and go into a branch.

Funny thing is that I just applied for an MBNA MasterCard and I did not pass the online approval again so I am waiting. Not sure what the hell is wrong with TD. I also have the RBC Infinite Privilege, AMEX Platinum and Cobalt and was always instantly approved.
Deal Guru
Dec 5, 2006
13074 posts
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Markham
my_sir wrote: This exact thing happened to me a couple of months ago when I applied for the Aeroplan Infinite Privilege. I was seething mad when I got the rejection screen because I have never been rejected for credit. I have only one late payment in the last 10 years and it was only late by 2 days. I make over $200K by myself (not household). So I immediately called customer support and they couldn’t help me because they couldn’t see anything on their system because it was too soon. I was told to call back in 24 hours or go to a branch. So I took my 2020 tax assessment and walked to branch and told the teller that I was rejected and wanted to know why. The manager came over and told me that their system is basically crap. They sat me with an advisor and 15 mins later I walked out approved. So yeah, don’t go by the on line assessment and go into a branch.

Funny thing is that I just applied for an MBNA MasterCard and I did not pass the online approval again so I am waiting. Not sure what the hell is wrong with TD. I also have the RBC Infinite Privilege, AMEX Platinum and Cobalt and was always instantly approved.
What did they change so you get approved? Especially in applications form. Or they just simply override decisions?

Thanks
[OP]
Deal Fanatic
User avatar
Dec 24, 2002
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my_sir wrote: This exact thing happened to me a couple of months ago when I applied for the Aeroplan Infinite Privilege. I was seething mad when I got the rejection screen because I have never been rejected for credit. I have only one late payment in the last 10 years and it was only late by 2 days. I make over $200K by myself (not household). So I immediately called customer support and they couldn’t help me because they couldn’t see anything on their system because it was too soon. I was told to call back in 24 hours or go to a branch. So I took my 2020 tax assessment and walked to branch and told the teller that I was rejected and wanted to know why. The manager came over and told me that their system is basically crap. They sat me with an advisor and 15 mins later I walked out approved. So yeah, don’t go by the on line assessment and go into a branch.

Funny thing is that I just applied for an MBNA MasterCard and I did not pass the online approval again so I am waiting. Not sure what the hell is wrong with TD. I also have the RBC Infinite Privilege, AMEX Platinum and Cobalt and was always instantly approved.
good to know
Sr. Member
Dec 22, 2004
564 posts
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Toronto
smartie wrote: What did they change so you get approved? Especially in applications form. Or they just simply override decisions?

Thanks
More in depth. Went through investments/assets and other items. The online focuses on employment income, but if you have other sources like investments, then it isn’t really captured.
Member
May 24, 2019
384 posts
403 upvotes
Toronto
smartie wrote: What did they change so you get approved? Especially in applications form. Or they just simply override decisions?

Thanks
TD was able to override a decision for me over the phone (just went through all my credit report with me, amounts in chequing / savings / investments) and told me I was approved.
For scotiabank when I had a really low score and I was instantly denied at the branch, it was just as easy as the advisor opening a dropdown menu and changing the status from "declined" to "approved".
Deal Guru
Dec 5, 2006
13074 posts
8319 upvotes
Markham
my_sir wrote: More in depth. Went through investments/assets and other items. The online focuses on employment income, but if you have other sources like investments, then it isn’t really captured.
Andreit wrote: TD was able to override a decision for me over the phone (just went through all my credit report with me, amounts in chequing / savings / investments) and told me I was approved.
For scotiabank when I had a really low score and I was instantly denied at the branch, it was just as easy as the advisor opening a dropdown menu and changing the status from "declined" to "approved".
Thanks

Interesting that banks decision system don't capture their own information such as assets
Sr. Member
Dec 22, 2004
564 posts
697 upvotes
Toronto
starchoice wrote: TD is a little stingy with credit. If you have accounts with them and a good credit score, it’s probably because (they think) you have too much credit extended in relation to income/expenses.

If you don’t have a relationship with anyone at the bank, it will be hit & miss as you may just end up dealing with a dolt.

If you have an existing credit card with TD, see if they will do a product switch; otherwise, try another bank. CIBC has a lot of Aeroplan cards.
Totally agree with the stingy part. They only gave me a $15K limit, which makes some purchases difficult. In the past 30 days, I had to make two payments, one for $3K and the second for $11K to free up credit and make the purchases that I wanted to. So, I am basically paying $599/year on a card that I cannot use the way I want. And no, I am not manufactured spending, these are legit personal purchases. I remember the advisor at the branch wishing me well and to use the credit wisely…like what??? I am going to run away and start a new life with $15K?? Anyway, I will ask for a credit increase and if they say no I will cancel the card after the year is up.
Deal Guru
Dec 5, 2006
13074 posts
8319 upvotes
Markham
my_sir wrote: Totally agree with the stingy part. They only gave me a $15K limit, which makes some purchases difficult. In the past 30 days, I had to make two payments, one for $3K and the second for $11K to free up credit and make the purchases that I wanted to. So, I am basically paying $599/year on a card that I cannot use the way I want. And no, I am not manufactured spending, these are legit personal purchases. I remember the advisor at the branch wishing me well and to use the credit wisely…like what??? I am going to run away and start a new life with $15K?? Anyway, I will ask for a credit increase and if they say no I will cancel the card after the year is up.
What do you purchase? Might be you need a business card?
Last edited by smartie on Aug 30th, 2021 5:50 pm, edited 1 time in total.
Member
May 24, 2019
384 posts
403 upvotes
Toronto
smartie wrote: Thanks

Interesting that banks decision system don't capture their own information such as assets
They asked me for my assets held outside of TD (how much I had in chequing, savings, and investments with other banks).
Sr. Member
Dec 22, 2004
564 posts
697 upvotes
Toronto
smartie wrote: What do you purchase? Might be you need a business card?
No, all personal items. Things for the house, clothing, etc. For example, I just spent $1.5K last night on a duvet and sheets, so definitely not business related. Funny thing is that AMEX is throwing credit at me. I just got preappoved to up my limit on my Cobalt card to $40k, all I have to do is to click accept. Go figure.

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