Citi or BofA? - UPDATE - Recon worked!

[Open123]

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@KeepSwimming wrote:

Hey guys,

Well, bad news. Applied for the Americard Cash Rewards and was denied. Reason given was deliquencies, so I guess my baddies are still hurting me. Guess I'll sit tight for awhile with my crappy $750 limit still. Sigh.

P.S. They pulled EXP.

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This is surprising.

I think you should call them for a recon.  Let them see your overall banking relationship, and explain to them why you need a new card, ie higher limit to place most of your reimbursed business travel onto, which could be quite significant etc...

[Alcibiades]

Hmm. Like the other poster said, try to do a recon with Citi.

If you are willing to look at other banks, I believe Chase Slate has been giving out some healthy credit limits recently. It is a non rewards card, but you have your AMEX card for rewards. 

[KeepSwimming]

Thanks, all. Can I ask how you even go about a recon? What do you say when you call? I feel like I'll say "I know you said no...butbutbutbut" Anyone know the best number to call BofA for that?

I'm going to hold off app'ing for anything else. I really don't want anymore INQs for the time being.

[Open123]

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@KeepSwimming wrote:

Thanks, all. Can I ask how you even go about a recon? What do you say when you call? I feel like I'll say "I know you said no...butbutbutbut" Anyone know the best number to call BofA for that?

I'm going to hold off app'ing for anything else. I really don't want anymore INQs for the time being.

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Just call the backdoor number found here:  http://ficoforums.myfico.com/t5/Credit-Cards/Backdoor-Numbers/td-p/408066

Start by saying something along these lines, "I applied for the Cash Rewards card, and was declined.  I'd like to request a manual review for reconsideration please."  Since you already have a hard pull, it won't hurt to have a credit analysis take a look at your file.  Just explain to them the 60 day lates (make it something palatable), and reinforce the notion you'd like to use this card for most of your business expenses.

Good luck!

[KeepSwimming]

Thanks, Open.

Man, that was a sock in the gut. I hope I can work up the courage to even call. Frankly, I'm really surprised I was denied - I figured at the worst I'd get approved with a small limit.

[Open123]

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@KeepSwimming wrote:

Thanks, Open.

Man, that was a sock in the gut. I hope I can work up the courage to even call. Frankly, I'm really surprised I was denied - I figured at the worst I'd get approved with a small limit.

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I'm very surprised too. 

You don't have excessive inquiries, no derogs, good income, and only a few lates from a while ago.  I think there's a good chance you'll be approved with a recon.  BofA has been looking to expand their card portfolio.

If you can, it'll help if you mention you'll be using it for "reimbursed" business expenditure.

[Anonymous]

Wow, I am so sorry to hear about the decline

I would def call for a recon, and use the advice the above posters have mentioned, the worst that can happen is they say no (again).

I was declined the Discover More a few weeks back (too many inq's EQ) called for a recon and explained the inq's were from when I was "Rate Shopping" for my car, was put on hold and when the Rep came back she said "Congratulations" I was able to get you approved, so yeah, recons do really work.

I hate to see you were declined, since I had a part in this post saying that you should be approved with no problem, I feel a little guilty personally

But please call for recon, you just never know, you will never know unless you try, thats how I see it.

[KeepSwimming]

Aww don't feel guilty!  I was pretty sure I'd get approved, so you certainly didn't push me over the edge.

I will definitely recon and let you all know what happened. The funniest part is that it's just bothering me to have a wasted INQ, but I really never app for anything. I want to make the sucker count!

[Cranston]

DW and I boh have BofA cards and have been vary happy with them. Both started with a $5k limit.

[Anonymous]

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@KeepSwimming wrote:

Aww don't feel guilty!  I was pretty sure I'd get approved, so you certainly didn't push me over the edge.

I will definitely recon and let you all know what happened. The funniest part is that it's just bothering me to have a wasted INQ, but I really never app for anything. I want to make the sucker count!

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Thanks for that, I hate giving my opinion/advice and it turns out to be bad advice, I know I'm not the only one one who felt you would be approved, however, I still feel bad.

That's the attitude I like, you already had the hard pull, make that sucker count, I will be hoping and hoping and hoping that a recon will get you approved.

I am rooting for you all the way  my friend!!!!!!