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Member
perfect10
Posts: 6
Registered: ‎09-04-2007
0

Recon???

Hi everyone:
I'm new to the forums. Can someone explain exactly what recon is? I'm in the process of rebuilding my credit and am curious as to how recon works.

Starting Score: 625
Current Score: 635
Goal Score: 750

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Regular Contributor
a3quit4s
Posts: 211
Registered: ‎03-07-2013
0

Re: Recon???

[ Edited ]

It's when you either get waitlisted or outright rejected for the card. You then call for reconsideration (recon) and speak to someone becaue your app is usually analyzed by a computer. Many people have gotten denied for a card and recon'd and been approved.

 

This will help you: http://ficoforums.myfico.com/t5/Credit-Cards/Helpful-threads/td-p/415263

 

and welcome


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Established Contributor
Pilotdude
Posts: 955
Registered: ‎02-02-2013
0

Re: Recon???

Its also when you send "Two Fingers Louie" to help them umm "reconsider".

 

Seriously though; computers often deny good candidates for some obscure detail.  Many of the reputable companies recognize this and have people there to listen to what an applicant has to say and then make a human decision.

 

Knowing what is and is not on your credit reports is key to a successful recon call.  So is letting them talk so that you can fully understand the obstacles the card issuer is seeing to your approval.

 

:smileyhappy:


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Moderator
09Lexie
Posts: 26,273
Registered: ‎09-13-2012
0

Re: Recon???

Chase is well know for recons. I agree with @Pilotdude it is imperative that you know what's on your CR during the call. Be prepared to explain the baddies and have a good reason for requesting their cc. Ie my friends have this card and they waive about the CS ; thinking about bringing my banking over and want to consolidate my finances with one institution.
Senior Contributor
youngandcreditwrthy
Posts: 6,242
Registered: ‎08-16-2012
0

Re: Recon???

It is almost important to be prepared to put up a fight!! Took me three recons to get my Freedom!
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Established Contributor
Ravensfan2001
Posts: 557
Registered: ‎11-10-2012
0

Re: Recon???

So for negative items on your credit report, is "I was young and stupid" a good enough reason? I have baddies that I just started taking care of, so would I have a chance for a CLI? I was thinking of asking Walmart for one. And for the reason for wanting a CLI, could I say that I am trying to keep utilization low and the CLI would help?

Starting Scores: (4/16/12 lender pull) TU 596 | EX 550 | EQ 576
Mortgage Scores:(7/24/13 lender pull) TU 663 | EX 635 | EQ 649
Current Score (11/7/14): TU 664 | EX 605 (no update) | EQ 661
Goals: 680 across the board by 3/2015. Last app 7/16/14 (auto loan)
*** Homeowner 9/27/13*** All but 2 CCs are in the sock drawer!***
Established Contributor
scenery_guy
Posts: 935
Registered: ‎07-24-2012
0

Re: Recon???

[ Edited ]

Ravensfan2001 wrote:
So for negative items on your credit report, is "I was young and stupid" a good enough reason? I have baddies that I just started taking care of, so would I have a chance for a CLI? I was thinking of asking Walmart for one. And for the reason for wanting a CLI, could I say that I am trying to keep utilization low and the CLI would help?

Sometimes but it depends on if you have history between the bad mark and the application. The more the better. You say baddies (plural) and taking care of as in paying charge offs? If that's the case only time heals those wounds (most of the time). 

 

Also I'm not so sure asking for a CLI to keep utilization low is a good reason. I have never put it that way, I simply say I want to spend more on your card so help me do this (and imply they make more money on more spending). Again you have to demonstrate keeping your UTL low, not ask for more credit and tell them that's the plan. 

 

Keep your head down, grind away at clearing all bad marks, ask for goodwill if it seems like it would help and pay in full every month. Watch your score rise, see that several months in a row and then ask for more. This gives you plenty of ammunition to discuss on a recon or CLI call. 

Established Contributor
Ravensfan2001
Posts: 557
Registered: ‎11-10-2012
0

Re: Recon???


scenery_guy wrote:

Ravensfan2001 wrote:
So for negative items on your credit report, is "I was young and stupid" a good enough reason? I have baddies that I just started taking care of, so would I have a chance for a CLI? I was thinking of asking Walmart for one. And for the reason for wanting a CLI, could I say that I am trying to keep utilization low and the CLI would help?

Sometimes but it depends on if you have history between the bad mark and the application. The more the better. You say baddies (plural) and taking care of as in paying charge offs? If that's the case only time heals those wounds (most of the time). 

 

Also I'm not so sure asking for a CLI to keep utilization low is a good reason. I have never put it that way, I simply say I want to spend more on your card so help me do this (and imply they make more money on more spending). Again you have to demonstrate keeping your UTL low, not ask for more credit and tell them that's the plan. 

 

Keep your head down, grind away at clearing all bad marks, ask for goodwill if it seems like it would help and pay in full every month. Watch your score rise, see that several months in a row and then ask for more. This gives you plenty of ammunition to discuss on a recon or CLI call. 


I sent out a GW, PFD, and settlement (judgment) letters yesterday. I've never recon'd and I'm a little jealous of all the success a lot of people are having. I just want a little bit of that! :smileyembarrassed:

Thanks for the advice....


Starting Scores: (4/16/12 lender pull) TU 596 | EX 550 | EQ 576
Mortgage Scores:(7/24/13 lender pull) TU 663 | EX 635 | EQ 649
Current Score (11/7/14): TU 664 | EX 605 (no update) | EQ 661
Goals: 680 across the board by 3/2015. Last app 7/16/14 (auto loan)
*** Homeowner 9/27/13*** All but 2 CCs are in the sock drawer!***
Established Contributor
Chris123nTx
Posts: 500
Registered: ‎05-11-2007
0

Re:econ???

Just keep in mind that many people have been at it for quite awhile. And people who just approved with a recon are much more likley to post about than those who dont. Being jealous, or wanting whatnothers are getting is a sure fire way to keep you in credit hell. It takes mostly time and dedication to both cleaning up, to the extent you can, your reports and using whatever credit you have carefully and responsibly. With charge offs and judgements and such, take what you can get, go slow and for sure read and learn here. Just dont decidento jump the gun as far as applying for abbunch of stuff. Every credit file is different and you dont always get all the backstory when someone posts. You can end up with lots of inquiries and not much to show for them. Just my opinion.
Established Contributor
Ravensfan2001
Posts: 557
Registered: ‎11-10-2012
0

Re: Re:econ???


Chris123nTx wrote:
Just keep in mind that many people have been at it for quite awhile. And people who just approved with a recon are much more likley to post about than those who dont. Being jealous, or wanting whatnothers are getting is a sure fire way to keep you in credit hell. It takes mostly time and dedication to both cleaning up, to the extent you can, your reports and using whatever credit you have carefully and responsibly. With charge offs and judgements and such, take what you can get, go slow and for sure read and learn here. Just dont decidento jump the gun as far as applying for abbunch of stuff. Every credit file is different and you dont always get all the backstory when someone posts. You can end up with lots of inquiries and not much to show for them. Just my opinion.

Being jealous can also be used as motivation in achieving a goal. And you're right, you don't always get all the backstory when someone posts - about anything. No matter how good or bad a CR may be, I don't believe a recon hurts in any way, except maybe a bruising the ego.


Starting Scores: (4/16/12 lender pull) TU 596 | EX 550 | EQ 576
Mortgage Scores:(7/24/13 lender pull) TU 663 | EX 635 | EQ 649
Current Score (11/7/14): TU 664 | EX 605 (no update) | EQ 661
Goals: 680 across the board by 3/2015. Last app 7/16/14 (auto loan)
*** Homeowner 9/27/13*** All but 2 CCs are in the sock drawer!***

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