08-16-2012 01:57 PM
Sorry helovesyou. Same thing happened to me last month. I called to recon and they were concerned with two cards that I had high balances. When I got their letter it said "Balances on accounts are too high compared to credit limits" and "The outstanding debt on your creditaccounts is too high" those were the only reasons listed. I think once we get our balances down we should be in!
08-16-2012 02:07 PM
08-16-2012 02:12 PM
I agree with youngandcreditworthy. When I recon'ed I focused so much on the two cards with high balances and didn't point out my overall utilization which was about 28% at the time and the 5 cards that had $0 balances. My mistake. It was only my second attempt at recon ever and the first was a pretty easy one with Barclays.
08-16-2012 02:13 PM
08-16-2012 02:20 PM
Definitely call the back door number as soon as possible. When I call to recon (I've done it with three cards this year), I've done so about an hour after apping and I tell them my name, that I just applied for their card and that I got a message saying my application is pending. Then I ask the rep if there is any additional information they need from me to to help them make their decision. At that point, they usually say something about looking over my credit report then ask questions about a couple of items (usually why did I have to file bankruptcy back in 2005 (bunch of medical bills and no health insurance at the time). I don't have any lates and I don't have any COs. Then I mention that I have worked very card on my credit since then and I usually get a comment that they agree with me. Sometimes they ask me to verify how long I have been at my job or residence or what my income is. Sometimes, they ask why I want the card. With Freedom, when I reconned, I told them I really liked their cash back feature, especially the 5% categories. It was the same answer with my Discover More card. With my Barclays US Air card, I told them I travel a lot (3-5 sometimes more trips a year) and always use US Air as they are the only carrier that flys out of my very small local airport.
The only card I have not been successful at reconning is AMEX - I think I am going to have to hold off on that one until the bankruptcy comes off my reports. My income is fine, my investments are fine, my utilization on all my current cards are 0-5%, I PIF early every month and my credit score is over 700 even with the bankruptcy but it always comes down to that all three times I've applied, even with Zync. I called the executive office three times with each decline and can't get anyone to budge.
08-16-2012 02:20 PM
08-16-2012 02:41 PM
I just applied today. Called after i got the message and recon'd. They checked EX and brought up 3 CA that they said were open. I told them they were paid, and one is in dispute. And that i also had a chase account and 4 year CC (my longest open one) with them. they then put me on hold and checked my EQ since i mentioned they are paid off on that one. Which is also my higher score. Came back and said he filled out a review and put for it to be approved and to call back in 48 to make sure it processed.
Moral of the story is, like everybody suggested, recon. It helps.
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