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when is too late to recon?

when is too late to recon?

Denied Chase Slate-

 

Received letter 12/17 and it went over how they pulled TU but gave a score, a "Chase Application Score" of 628,

when my TU FICO is 680.

Anyway, I can either accept being denied, or recon, but didn't know if it's too late.

 

What's funny is I got approved for a Cap1 card same day I was told the 7-10 day message from Chase.

Could I just call and say, "hey, I got an approval same day from another credit card company, give me something."?

 

Don't want to consider a recon if it's too late.

Message 1 of 10
9 REPLIES
Valued Contributor

Re: when is too late to recon?


heytherehitherehothere wrote:

Denied Chase Slate-

 

Received letter 12/17 and it went over how they pulled TU but gave a score, a "Chase Application Score" of 628,

when my TU FICO is 680.

Anyway, I can either accept being denied, or recon, but didn't know if it's too late.

 

What's funny is I got approved for a Cap1 card same day I was told the 7-10 day message from Chase.

Could I just call and say, "hey, I got an approval same day from another credit card company, give me something."?

 

Don't want to consider a recon if it's too late.


Not too late if you received the letter yesterday. "Chase Application Score" is a FAKO, no real meaning behind it.

 

Why not consider a recon if it's free and could get you approved. You've already wasted a HP. Also, I wouldn't say anything about Capital One. What was the reason of denial.

AMEX: $25,000, CSP: $10,000, Chase Priority Club: $1,500, Freedom: $6000, Discover: $21,000

EQ FICO - 753
TU FICO - 755
EX FICO(AMEX) - 766
Message 2 of 10
Highlighted

Re: when is too late to recon?

Same old same old...

Too much revolving credit balances. Blah blah blah. Ha.

Account age. Even though I'm coming up on my 3rd year-for my average. Oldest account is almost 5 years old.

I might just recon and if they want to pull again, I won't and just become an AU on my girlfriends Chase Freedom.

Message 3 of 10
Valued Contributor

Re: when is too late to recon?

Unless you share more about your credit profile, it's hard to give you a clear recommendation. Things such as your other accounts, income,  utilization etc etc.

AMEX: $25,000, CSP: $10,000, Chase Priority Club: $1,500, Freedom: $6000, Discover: $21,000

EQ FICO - 753
TU FICO - 755
EX FICO(AMEX) - 766
Message 4 of 10
Senior Contributor

Re: when is too late to recon?


heytherehitherehothere wrote:

Same old same old...

Too much revolving credit balances. Blah blah blah. Ha.

Account age. Even though I'm coming up on my 3rd year-for my average. Oldest account is almost 5 years old.

I might just recon and if they want to pull again, I won't and just become an AU on my girlfriends Chase Freedom.


I doubt that even after a reconsideration request whether they would offer much of an added benefit.  Meaning, if they re-review your credit file (possibly another HP) and if approved you can end up with a low limit and a high APR based on their risk modeling criteria for reconsideration.  This ultimately depends on whether is it a "want" or a "need". 

 

Keep in mind that not everyone that gets approved after a reconsideration review receives favorable terms and conditions.  Additionally, if the listed reasons for denial are based on factual credit information compounded by the risk taken by lender, such as "too much revolving debt", then why apply for more credit?

Message 5 of 10
Regular Contributor

Re: when is too late to recon?


FinStar wrote:

heytherehitherehothere wrote:

Same old same old...

Too much revolving credit balances. Blah blah blah. Ha.

Account age. Even though I'm coming up on my 3rd year-for my average. Oldest account is almost 5 years old.

I might just recon and if they want to pull again, I won't and just become an AU on my girlfriends Chase Freedom.


I doubt that even after a reconsideration request whether they would offer much of an added benefit.  Meaning, if they re-review your credit file (possibly another HP) and if approved you can end up with a low limit and a high APR based on their risk modeling criteria for reconsideration.  This ultimately depends on whether is it a "want" or a "need". 

 

Keep in mind that not everyone that gets approved after a reconsideration review receives favorable terms and conditions.  Additionally, if the listed reasons for denial are based on factual credit information compounded by the risk taken by lender, such as "too much revolving debt", then why apply for more credit?


From his previous posts I gather he is attempting to get cards to lower his util% also known as debt pyramiding I believe.

 

Here's a previous one:


heytherehitherehothere wrote:

Wanting to become an AU on girlfriends Furniture Row Cap 1 card with 1,200 limit.

 

Should I do this before requesting a CLI on my Citi Simplicity?

 

The only reason I thought to do this is because I figured another free and clear card that I didn't app for,

with a 1,200 limit would DEFINITELY help my chances at getting the increase amount I want from Citi.

 

Any thoughts or does anyone know if these two things are related, credit wise?

 

1. Having a new limit would increase my available credit, lowering my util, increasing my score.

2. As a result of score increase, Citi grants CLI amount I'll request.

 

Something like that?



Starting: 563 | Current: 748 (TU 8/15) | Goal: 800 | Garden since: 08/10/2015

Message 6 of 10
Super Contributor

Re: when is too late to recon?

30 days is usually the longest without them wanting to re pull reports l) which they may do anyways (varies by lender))
Message 7 of 10
Valued Contributor

Re: when is too late to recon?


heytherehitherehothere wrote:

Same old same old...

Too much revolving credit balances. Blah blah blah. Ha.

Account age. Even though I'm coming up on my 3rd year-for my average. Oldest account is almost 5 years old.

I might just recon and if they want to pull again, I won't and just become an AU on my girlfriends Chase Freedom.


What is your utilization % ??

Message 8 of 10
Frequent Contributor

Re: when is too late to recon?

I don't know; I flat out told Chase I wanted the increase today primarily to lower my util, and they doubled my CL.  Maybe it is different when you app for a new account though?

 

I have nevr been approved by chase except on recon, and have been very successful in recon.  Their recon is amazing.  It doesn't work for everyone, but it's worth a try if it's within 30 days.

 

 

WOW! EQ when I joined myFICO: 657. Ups and downs and a few bumps and bruises, but finally back over 700. Whew!

Message 9 of 10
Established Contributor

Re: when is too late to recon?

It appears they are maxed out on available credit and have some other issues with their credit history. If the AU card has high balance as well, the problem is even more mushy.

Starting scores 01/02/2012 EQ 707(Fico) TU 733(Fico)XP 735 (FAKO)
Updated scores 05/01/17 EQ 824, TU 812 EXP 810 (all Fico scores) Remember the Three P's: Pay early in Full, Pay on Time, Patience
Message 10 of 10