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how long do u have to recon?

Valued Member

how long do u have to recon?

I was denied a card awhile back was thinking bout trying a recon due to the fact denial was because didnt have enough accounts (at time only had one card) well now i have 4 so is it too late? Apped for it i think Jan-sumthing
On my way! $FG
Message 1 of 8
7 REPLIES
Established Contributor

Re: how long do u have to recon?

I don't know if you still can or not, but 3 other new accounts probably won't impress them. Not to mention it would likely be another hard pull. I would say to wait for the accounts to age a year and then try again if it was a card that you really want.


Message 2 of 8
Valued Contributor

Re: how long do u have to recon?


coroc wrote:
I was denied a card awhile back was thinking bout trying a recon due to the fact denial was because didnt have enough accounts (at time only had one card) well now i have 4 so is it too late? Apped for it i think Jan-sumthing

Applications are usually kept on file for 30 days like Chase. They keep your current credit pull and report. They will not know you got new accounts with the same report on file until you tell them to pull another report if your new accounts are reporting.

 

But you could shoot your self in the foot because most lenders frown upon too many new accounts within 6 months. 


Last Pulled EQ: 809
Last Credit Card App: 02/05/2016
Last CLI: 02/06/2016
Find Me: Gardening
Message 3 of 8
Senior Contributor

Re: how long do u have to recon?

30 days is typical, but Citi took like three months to process and approve my recon!
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Message 4 of 8
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Valued Contributor

Re: how long do u have to recon?

30 days is typical. Not to mention, it would be another hard pull for the company to see your new accounts.

Also, just having 4 accounts is VERY different from having experience with 4 accounts. The denial likely implied that you needed more credit card history. Since you have cards now, use them well, pay in full, and give it 6 months. Once you have 6 months of history reporting on those cards feel free to reduce your utilization (don't let large balances report) and apply for this card again. Who knows, the results might change Smiley Wink

In My Wallet: Amex BCP (12/12) $50,000, Chase Freedom (12/12) $16,500, Cap1 Quicksilver (6/12) $14,000, Barclaycard Rewards (5/13) $10,500, Citi Prestige (4/16) $30,000

Last App: June 27, 2015
Message 5 of 8
Valued Contributor

Re: how long do u have to recon?


chnceit wrote:


Applications are usually kept on file for 30 days like Chase. They keep your current credit pull and report. They will not know you got new accounts with the same report on file until you tell them to pull another report if your new accounts are reporting.

 

But you could shoot your self in the foot because most lenders frown upon too many new accounts within 6 months. 


While Chase keeps the application, they will do another inquiry even if you ask for a reconsideration the same day you received a denial.

 

If information on the report has changed, I don't see a reason to ask for a reconsideration. Just do a new application, unless the offer you wanted is no longer available.

Message 6 of 8
Regular Contributor

Re: how long do u have to recon?


SnackTrader wrote:
30 days is typical. Not to mention, it would be another hard pull for the company to see your new accounts.

Also, just having 4 accounts is VERY different from having experience with 4 accounts. The denial likely implied that you needed more credit card history. Since you have cards now, use them well, pay in full, and give it 6 months. Once you have 6 months of history reporting on those cards feel free to reduce your utilization (don't let large balances report) and apply for this card again. Who knows, the results might change Smiley Wink

This is true, 30 days would be the spot. And you're right about the experience with the cards as well. Some people (like myself) think that when you acquire a good number of cards in a short time frame that you are automatically a good candidate for a prime card. NOPE! They want to see aging of your accts not the amount of accts you have. I am in the same boat. I have acquired alot of cards within the last year which makes me unable to qualify for any prime cards until I age the ones I have. While you're aging these accts, get those limits up with CLIs to maximize your chances of getting accepted into the prime land. GOOD LUCK on your journey, I'm so excited about mine!

Current Score: TU 671 / EQ 675 / EX 682
Goal Score: 700 Club Across the board!

Message 7 of 8
Valued Contributor

Re: how long do u have to recon?

Yes Chase will pull another report regardless. I was just giving an example of a lender.

But some have good luck in recon with one pull. But I am not one of those.

Some like Barclay is known to be a recon friendly company

Last Pulled EQ: 809
Last Credit Card App: 02/05/2016
Last CLI: 02/06/2016
Find Me: Gardening
Message 8 of 8