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Recons?

Established Contributor

Recons?

How do you get them to do one? And what reason's would they?  Curiosity folks, that is all!

"When you are down in the mouth, remember, everything turned out ok for Jonah."

Current FICO's(by lender) 10/9/12
EX:649, EX:651, TU:683
Message 1 of 7
6 REPLIES
Valued Contributor

Re: Recons?

you apply and get denied or low CL - you call back door # and try to explain to their liking the reason(s) for the AA and they either buy it or they do not.
5/2012: 560 credit scores across the board
12/2014 750+
3/2017 780+
5/2017 800+
Message 2 of 7
Established Contributor

Re: Recons?


S7 wrote:

How do you get them to do one? And what reason's would they?  Curiosity folks, that is all!


all depends on the situation but most people abuse the ability. Like for instance a few companies like US Bank and PenFED are pretty conservative when it comes to inquiries on your report. Often you'll get auto declined. Like imagine if you have a apartment rental inquiry, or multiple car lending inquiry because you were shopping for rates. You would automatically get declined, but through the Recon line you can show that you didn't apply for another line of credit which doesn't really increase their risk (unless your new expenses in the car and apartment greatly exceeds the past car or apartment) it's a easy recon.

 

Also sometimes the automatic system I'm sure screws up in the way it declines people. For instance I got declined last year for "balances reported are too high" I literally had $30 debt out of $10,000 credit limit open. I called to verify that the report they got was legitimate but turned out to be an old report, and I explained the balance was high last month due to putting my family's vacation on it, and everything been paid off and only had a $30 debt when I applied lol, anyways they pulled a soft and approved.


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Message 3 of 7
Frequent Contributor

Re: Recons?

I successfully reconed with Home Depot and Lowes, Citi and GE respectivly. Originally approved for $500 got both raised to $1800. Pretty easy on both, just answered a few questions

Message 4 of 7
Frequent Contributor

Re: Recons?

I reconned both my Chase Sapphire and Freedom cards.  Both got approved without too much of a hassle.  They'll tell you why the system denied you and you are given a chance to state your defense.  A vast majority of the time they will work with you, depending on the card you want you'll probably end up with the card, but perhaps a lower limit, a la Freedom.  I had to move some credit from my CSP to my Freedom to get the account opened but I plan on calling back within a year to have both accounts increased to 10k and 5k respectively.


AmEx PRG (NPSL) | AmEx Costco ($8.2K) | AmEx Delta Gold ($19.3K) | AmEx BCE ($5K) | Chase United Explorer ($10K) | Chase Sapphire Preferred ($7.5K) | Chase Freedom ($8.2K) | Discover it ($3K) | Capital One Quicksilver ($2.5K) | PayPal Extras ($2.5K) | Lowes ($3.3K) | Walmart ($4.3K) | Amazon ($2.5K) | Restoration Hardware ($8.8K) | Crate & Barrel ($8.3K)
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Homeowner since 05/29/13
Message 5 of 7
Valued Contributor

Re: Recons?

I have only done so once, for a chase. I was unsuccessful, it is hard to defend having a high util. LOL

So I am bringing it down before trying again. Hopefully it will be an instant approval since that was the only thing that held me back last time.


Starting Score: EQ 717 EX 724 TU 736
Current Score: EQ 832 EX 783 TU 816
App free since 9/15/15
Message 6 of 7
Highlighted
Established Contributor

Re: Recons?


Epcot wrote:

I have only done so once, for a chase. I was unsuccessful, it is hard to defend having a high util. LOL

So I am bringing it down before trying again. Hopefully it will be an instant approval since that was the only thing that held me back last time.


high utility on one card can be easy to dispute but not across the board, my client has a $50,000 limit and he charges EVERYTHING on his business to his starwood Amex, when asked about his high charges he faxes them Amex statement copies for the last 3 months showing everything is paid in full every month. It all depends on the situation but yea most of the time high utility is hard to explain unless you have lower limits and you just went on vacation =)


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Message 7 of 7