Stressing the value of RECONNING to new and old members

[eagle2013]

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@user5387 wrote:

What if you really push a recon, and end up with a $500 CL that you can't use?

It might be better to waste the hard pull entirely.

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For a lot of people who have to recon like me (short history + major 5 yr old baddie) that maybe an acceptable limit for a prime card they can grow with. I wanted to avoid this, which was one of my reasons for apping (and reconning) CSP for a guaranteed $5k cl before Freedom.

[B335is]

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@HeilFico wrote:

We all agree that the recon process can be tedious and uncomfortable. (Its the equivalent of a job interview for your credit!) With that being said, please do not take NO for an answer. I submitted an application with a lender (who will not be named) towards the end of December. Here we are today January 19th and I finally got approved. I had to have called at least 10 times! I'M NOT JOKING. What was holding me back was a short credit history and new accounts. My AAOA is not even 2 years old. But I have perfect credit history since all accounts have been opened. This is my third account with said lender. This account is going to be consolidated into another account after 6mos to increase one of the other's limit.

When you are denied check online for possible recon options. Not all lenders offer it, but most prime lenders do. Go over each and every facet of your report and be prepared to outline every aspect of your credit. (Example: new accounts, baddies...etc...)Try to give answers before they even have an opportunity to ask questions. This has worked for me in the past and will work going forward. Hopefully this was my last app till summertime.

BTW I've grown 80k in credit to 60k income in less than a year.

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Not to take away any of your thunder, but asking for reconsideration 10 times is overkill.  I've done 2 reconsideration calls for the same card and even that was awkward.  As you mention, some lenders don't even offer it and as others mention, be prepared for another HP.

I've had to swallow my fair share of denials and in most (if not all), the denial was a favor.

[HeilFico]

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@B335is wrote:

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@HeilFico wrote:

We all agree that the recon process can be tedious and uncomfortable. (Its the equivalent of a job interview for your credit!) With that being said, please do not take NO for an answer. I submitted an application with a lender (who will not be named) towards the end of December. Here we are today January 19th and I finally got approved. I had to have called at least 10 times! I'M NOT JOKING. What was holding me back was a short credit history and new accounts. My AAOA is not even 2 years old. But I have perfect credit history since all accounts have been opened. This is my third account with said lender. This account is going to be consolidated into another account after 6mos to increase one of the other's limit.

When you are denied check online for possible recon options. Not all lenders offer it, but most prime lenders do. Go over each and every facet of your report and be prepared to outline every aspect of your credit. (Example: new accounts, baddies...etc...)Try to give answers before they even have an opportunity to ask questions. This has worked for me in the past and will work going forward. Hopefully this was my last app till summertime.

BTW I've grown 80k in credit to 60k income in less than a year.

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Not to take away any of your thunder, but asking for reconsideration 10 times is overkill.  I've done 2 reconsideration calls for the same card and even that was awkward.  As you mention, some lenders don't even offer it and as others mention, be prepared for another HP.

I've had to swallow my fair share of denials and in most (if not all), the denial was a favor.

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Not everyone is persistent. And I agree that I did try more than most would. I'm only advising not to give up. 

[HeilFico]

[B335is]

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@HeilFico wrote:

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@B335is wrote:

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@HeilFico wrote:

We all agree that the recon process can be tedious and uncomfortable. (Its the equivalent of a job interview for your credit!) With that being said, please do not take NO for an answer. I submitted an application with a lender (who will not be named) towards the end of December. Here we are today January 19th and I finally got approved. I had to have called at least 10 times! I'M NOT JOKING. What was holding me back was a short credit history and new accounts. My AAOA is not even 2 years old. But I have perfect credit history since all accounts have been opened. This is my third account with said lender. This account is going to be consolidated into another account after 6mos to increase one of the other's limit.

When you are denied check online for possible recon options. Not all lenders offer it, but most prime lenders do. Go over each and every facet of your report and be prepared to outline every aspect of your credit. (Example: new accounts, baddies...etc...)Try to give answers before they even have an opportunity to ask questions. This has worked for me in the past and will work going forward. Hopefully this was my last app till summertime.

BTW I've grown 80k in credit to 60k income in less than a year.

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Not to take away any of your thunder, but asking for reconsideration 10 times is overkill.  I've done 2 reconsideration calls for the same card and even that was awkward.  As you mention, some lenders don't even offer it and as others mention, be prepared for another HP.

I've had to swallow my fair share of denials and in most (if not all), the denial was a favor.

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Not everyone is persistent. And I agree that I did try more than most would. I'm only advising not to give up. 

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I wouldn't say I'm not persistent, just not willing to go begging 10 times for 1 card.  Most (if not all) of them keep records of each call regardless.  To each their own.

[clocktick]

I was denied the Chase Freedome, Sapphire Preferred and United card.  I did a recon with all three and it worked.  I think it's always worth a shot!

[lg8302ch]

Always had to recon due application cancelled ....yes cancelled and not denied. The reason is unknown but from what I understood my SSN is popping up with several names due to a misstype at some of the verification software. Not sure who did this to me and if this will ever be corrected. This happens to me everytime someone pulls EQ. I have to send in  a copy of my SSN and then get accepted.  Well so far I have been accepted for all cards I applied for but not for membership with DCU (they pullled EQ) and with them I did not apply for a credit product as I just wanted to join . There I am now working on to  have them remove the HP again.  Not much hope but worth a try.  It looked to me that this is the most disorganized lender and mabe it is better not to deal with such a lender.  Regarding the limit being over the yearly salary there is 1 lender that will not budge - Discover is not going to extend me a higher limit because of my other cards. So I would recommend everybody if interested in Discover apply early in your credit journey as once you have higher limit cards and  you have credit over the yearly salary it will be a mission impossible. ...oh well...if they want just the 5% purchases from me - fine...as for 1% all other cards can do the same for me or even better. No big deal.

[JCreazy]

I was denied a discover it, I haven't reconned yet because I don't know why I was denied. Once I found out I might give it a shot. Does anyone know if discover uses additional HP?

[ecxpa]

All I can say is I have been rebuilding my credit this year and had it not been for this board and learning about recons I would still be frustrated and short 3 credit cards.  These 3 cards have added over 13K to my credit card portfolio.  Thank goodness for recon and this board

[ForMyBiz]

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@JCreazy wrote:
I was denied a discover it, I haven't reconned yet because I don't know why I was denied. Once I found out I might give it a shot. Does anyone know if discover uses additional HP?

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in my experience, they aren't particularly great on recon (got denied by a regular CSR and then by the EO where the rep personally walked the app down to underwriting to try and get it approved...)    The recon did not result in another HP either time though.  They just told me, wait 30 days and try again if I clear up some of the items causing issues.  I waited about 3.5 months and got approved for a decent limit and good terms :-)

The Chase Freedom recon did work though, but as you can see the limit is kind of silly.  That said, I think having the card on my reports helped open doors to other cards...