Recon/CLI=Fail!!

[Anonymous]

Made several calls today for CLI and app recon's:

1. Cap1: CLI request...LOL. They don't do anything do they? I spoke to 2 different csr's the first just used the same automated service we can use. The second one went to do the request but noticed that i had already requested today so she said no.

2. Cap1: Recon Cash Rewards w/AF that i was "pre-approved" for...I've had a perfect account with them for over a year. I applied for this card thinking i would get it, and i was immediately declined. Called the backdoor number, and they said i have to wait for my letter to come in before they can even do anything. So that was a fail as well.

3. HSBC: CLI request...i've had their Household Bank card for a year, and requested a CLI. She said there was nothing available for me at this time.

4. Citi Bank: Recon request on Citi Forward card...they said NO.

5. Home Depot: Recon request...while very nice, they still said NO.

6. Lowes: Recon request...guess what!! another NO.

7. Sam Club/ Wal-Mart: Recon request...negative, NO.

8. Discover: Recon request on the Motiva....this lady was probably the nicest i spoke with all day, and i didn't even mind she said NO.

Most were saying NO due to the past negatives, and length of current accounts. Well, at least i tried i guess. I will continue to use the Crap1 and HSBC/Crap1 for another year at least. I also was REALLY suprised that I was however, approved for the AMEX Zync. So I will just continue maintaining good payments and garden for awhile now. I know it will just take time, and now its a waiting game.

-John

[Anonymous]

Approval for AMEX Zync > Denials for everything else

[Anonymous]

I agree with FrugalRican, Amex superceedes those others..Sometimes GEMB is an odd one.  It used to be 3 months between CLI but with some cards now it can be 4-6 months..

[Anonymous]

3 cards is good for rebuilding your credit, also keep your UTI under 10% for the month that you recon/CLI...no creditors want to see a high balance and the customer requesting more (yes I know, they are low limits).

[Anonymous]

Thanks for the good words and advice guys.

Could someone either explain it to more or point me in the right direction? I'm completely ignorant when it comes to how different cards are viewed. What makes the AMEX card that i actually did get approved for so much better than everything else? Why does it seem like so many want to get an AMEX? How are each of the different brands of cards viewed?

thanks,

John

[webhopper]

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@Anonymous wrote:

Approval for AMEX Zync > Denials for everything else

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+1 agree completely. GECRB / CITI / DISCOVER ≈ PHAIL BUT OH WELL AMEX ≈ TOTAL WIN

[Anonymous]

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@webhopper wrote:

 

 +1 agree completely. GECRB / CITI / DISCOVER ≈ PHAIL BUT OH WELL AMEX ≈ TOTAL WIN

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but why? i don't understand all the differences in the cards and what makes AMEX or another more desireable.

[injustifiiable]

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@Anonymous wrote:

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@webhopper wrote:

 

 +1 agree completely. GECRB / CITI / DISCOVER ≈ PHAIL BUT OH WELL AMEX ≈ TOTAL WIN

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but why? i don't understand all the differences in the cards and what makes AMEX or another more desireable.

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Having an AMEX charge now will make it easier to get their better revolving cards (with easier CLI's) later on without pulling teeth...oh, and without an AAoA hit since there's the backdating.

[Anonymous]

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@Anonymous wrote:

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@webhopper wrote:

 

 +1 agree completely. GECRB / CITI / DISCOVER ≈ PHAIL BUT OH WELL AMEX ≈ TOTAL WIN

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but why? i don't understand all the differences in the cards and what makes AMEX or another more desireable.

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"Prestige" talk aside. If you want to apply for another AMEX in say, 5 years... you will take a HP for getting approved, but whatever hit you take for opening an account will be negligible compared to the AAOA increase from that card. That card won't register as opened in 2017, it'll register as being from 2012. That ALONE is more than worth it.

You get a foot in the door for a future revolver, and guess what, eventually those revolvers will grow if used most wisely. Those huge limits you aren't getting now, AMEX could give you in a year or so.

And. It's Prime.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@webhopper wrote:

 

 +1 agree completely. GECRB / CITI / DISCOVER ≈ PHAIL BUT OH WELL AMEX ≈ TOTAL WIN

---

but why? i don't understand all the differences in the cards and what makes AMEX or another more desireable.

---

"Prestige" talk aside. If you want to apply for another AMEX in say, 5 years... you will take a HP for getting approved, but whatever hit you take for opening an account will be negligible compared to the AAOA increase from that card. That card won't register as opened in 2017, it'll register as being from 2012. That ALONE is more than worth it.

You get a foot in the door for a future revolver, and guess what, eventually those revolvers will grow if used most wisely. Those huge limits you aren't getting now, AMEX could give you in a year or so.

And. It's Prime.

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+1.....sums it up perfectly.

It's not necessarily that AMEX provides the best rewards out of anyone --they do have good rewards-- but, the customer service is excellent, and the backdating is fantastic. Imagine in a few years applying for a couple of credit (not charge cards) and having them listed as member since 2012. You have that much more history automatically for not really doing anything except getting approved. Plus, it's also nice to have a variety of credit on your account, IMO. If a creditor sees you manage well a charge card(s), credit card, some installment loans, etc. It's just going to work that much more in your favor.

So, I'd say forget about any apps for the next year, garden the AMEX, and then after your inquiries have little impact in a year, re-evaluate your situation then.