topic Re: Credit Card recons never work for me? Suggestions? in Credit Cards

Credit Card recons never work for me? Suggestions?

glamchick — Fri, 22 Apr 2016 23:34:35 GMT

Everytime I call the backdoor recon number I always get denied. For instance Barclays and Chase denied me

They always go back and say... why do you have a late back in 2012 for your student loans. I explained it came out of derferment and they did not pull from my accounts as I set it up for direct deposit.

Then they say sorry we have to deny you at this time.

How does everyone else get recons approved?

Re: Credit Card recons never work for me? Suggestions?

Creditplz — Fri, 22 Apr 2016 23:40:28 GMT

Same here, hahahaha! I was told well what's changed, I said I paid off all the balances that were the sole basis listed on the denial letter!! Their response is oh you want us to pull again?. Hahaha!

Re: Credit Card recons never work for me? Suggestions?

Kutuzov — Sat, 23 Apr 2016 00:02:29 GMT

I had mixed results with recon. In October last year applied for Barclay Ring denied called recon and I got a collection falling in December they said No apply again when the collection is gone. March I think it was applied again 7-10 days message, called recon approved. Applied for a Region Bank cc denied called recon denied that was in February I believe. Chase AARP, black listed for an ancient CO with WaMu, denied called recon approved. So I guess it depends on your profile and the product you are apping for.

Re: Credit Card recons never work for me? Suggestions?

Septrosh — Sat, 23 Apr 2016 00:13:36 GMT

Best recommendation I have is always be overly friendly, chat them up and provide them, proactively, why you're interested in their product and how it will help you (excluding sign up bonuses - Not a good reason for a creditor to approve an app as they lose $ with those; it's just an incentive to EARN your business.

Obviously your portfolio still greatly plays a role in all this.

Re: Credit Card recons never work for me? Suggestions?

Anonymous — Sat, 23 Apr 2016 00:21:57 GMT

The late from 2012 is just the excuse the underwriter is picking from the list of excuses. It is your overall profiles that decides.

Re: Credit Card recons never work for me? Suggestions?

ddemari — Sat, 23 Apr 2016 00:33:41 GMT

@Anonymous wrote:
The late from 2012 is just the excuse the underwriter is picking from the list of excuses. It is your overall profiles that decides.

I agree with this. I had no luck with recons back in the day when I had questionable stuff still reporting usually because my profile wasnt optimized. If I had say 1-2% utilization instead of say 18-20% utilization, I think my recons would have gone better.

Re: Credit Card recons never work for me? Suggestions?

glamchick — Sat, 23 Apr 2016 04:23:43 GMT

my scores are

TU 740

EQ 684

EX 690

Uti 14%

But was denied 3 cards and 1 cli

And they all said its because of the old lates. But I've had no lates the past 2.5 years They talk to me like i am a horrible person for ever being late.

What should I say when they bring this up? Caues they always ask why was I late.

Re: Credit Card recons never work for me? Suggestions?

Anonymous — Sat, 23 Apr 2016 08:11:43 GMT

I feel ya!! I reconned for both Chase and Barclays, shot down both times. And, this is after reading success stories for people that had lower scores than me and numerous baddies.

I have credit scores ranging from exp:691, trans:686, and eq: 665. But, still shot down. I guess I have no clue how to recon.

Re: Credit Card recons never work for me? Suggestions?

Anonymous — Sat, 23 Apr 2016 14:51:24 GMT

@ddemari wrote:
@Anonymous wrote:
The late from 2012 is just the excuse the underwriter is picking from the list of excuses. It is your overall profiles that decides.
I agree with this. I had no luck with recons back in the day when I had questionable stuff still reporting usually because my profile wasnt optimized. If I had say 1-2% utilization instead of say 18-20% utilization, I think my recons would have gone better.

Agree 100% with both ddemari and CAPTOOL.

It's also important to realize that recons are different with every lender and for every profile. There isn't one "recon template" that anyone can provide which would work for all lenders, since they are all different, as all profiles are different.

Recon is also dependent on the analyst you get for recon, which is not really within your control.

That being said, utilization from 1-9%, scores into the 700's, and a strong history with current cards (years, not months) certainly helps in all recon situations.

Not having lots of recent inquiries and new accounts also helps.

Having a 728 score and four years of strong credit history (even with a few lates or baddies) is usually going to create a different recon response than someone with a 670 credit score, a few baddies, and most accounts having been obtained within the last year.

Re: Credit Card recons never work for me? Suggestions?

SouthJamaica — Sat, 23 Apr 2016 14:48:53 GMT

@glamchick wrote:
Everytime I call the backdoor recon number I always get denied. For instance Barclays and Chase denied me

They always go back and say... why do you have a late back in 2012 for your student loans. I explained it came out of derferment and they did not pull from my accounts as I set it up for direct deposit.

Then they say sorry we have to deny you at this time.

How does everyone else get recons approved?

Suggestion: get Lexington Law on the case; I've heard stories of them getting rid of a lot of that student loan stuff.

Re: Credit Card recons never work for me? Suggestions?

Anonymous — Sat, 23 Apr 2016 14:53:34 GMT

Unfortunately whenever dealing with customer service - the results really depend on who you get on the phone (in my opinion). Some reps are helpful and others are just outright rude. I applied for the Barclay's Arrival + last year and was declined. I was subscribed to MyFico but did not use the forum so I did not know you could recon an application. So in March 2016 I applied for the JetBlue Mastercard and as was declined again. But by this time a collections account for an old medical bill was paid and removed from my credit report. I still have 90 day late from student loans which occurred in August 2013. I took an extra hit on my credit for this because I had 9 different student loans with Nelnet so when the 90 lates hit my scores dropped over 100 points!! (I have since consolidated and have never been late)

I called about 3 weeks later to recon the Barclay's application. The only question the rep aske was why the utilization on my CareCredit account was so high. I owed $3100 of a $4k CL. I told her I used the account to get Invisalign and I am currently paying $500/month using funds from my HSA account and am on target to pay the account off by the end of the year.

She put me on hold and then came back and was able to approve my application for a $2.5k CL. Not the greatest CL but it's a start.

I hope you do try to recon again - it may work out.

Re: Credit Card recons never work for me? Suggestions?

Anonymous — Sat, 23 Apr 2016 14:54:47 GMT

@SouthJamaica wrote:
@glamchick wrote:
Everytime I call the backdoor recon number I always get denied. For instance Barclays and Chase denied me

They always go back and say... why do you have a late back in 2012 for your student loans. I explained it came out of derferment and they did not pull from my accounts as I set it up for direct deposit.

Then they say sorry we have to deny you at this time.

How does everyone else get recons approved?
Suggestion: get Lexington Law on the case; I've heard stories of them getting rid of a lot of that student loan stuff.

Really?? I may have to check them out!!

Re: Credit Card recons never work for me? Suggestions?

NRB525 — Sat, 23 Apr 2016 15:25:30 GMT

@glamchick wrote:
my scores are
TU 740
EQ 684
EX 690
Uti 14%
But was denied 3 cards and 1 cli

And they all said its because of the old lates. But I've had no lates the past 2.5 years They talk to me like i am a horrible person for ever being late.

What should I say when they bring this up? Caues they always ask why was I late.

Which credit cards do you have already and what are the limits on those cards?

When was each card opened?

A late, with limited other credit history, could cause issues. Using cards that are available to you to show recent good credit history is a way to get past the old late.

And if it is something that was the fault of the student loan company, then it may be worth some research to see how to get that removed. One late can be a significant drag on scores.

Re: Credit Card recons never work for me? Suggestions?

UncleB — Sat, 23 Apr 2016 15:38:52 GMT

@Anonymous wrote:
@SouthJamaica wrote:
@glamchick wrote:
Everytime I call the backdoor recon number I always get denied. For instance Barclays and Chase denied me

They always go back and say... why do you have a late back in 2012 for your student loans. I explained it came out of derferment and they did not pull from my accounts as I set it up for direct deposit.

Then they say sorry we have to deny you at this time.

How does everyone else get recons approved?
Suggestion: get Lexington Law on the case; I've heard stories of them getting rid of a lot of that student loan stuff.
Really?? I may have to check them out!!

Tread lightly, guys... we're not allowed to advocate for Lexington (or any other similar company) on this site.

Re: Credit Card recons never work for me? Suggestions?

Open123 — Sat, 23 Apr 2016 16:49:07 GMT

glamchick wrote:They always go back and say... why do you have a late back in 2012 for your student loans. I explained it came out of derferment and they did not pull from my accounts as I set it up for direct deposit.

While I'm sure the above is true, try answering it this way next time. "I was going through difficult financial period and fell behind; I'm all caught up now and in a much better financial state now than back then." If the student loans are the real reason for their declination, this explanation will likely work better on most Analysts, who just assume everyone who calls is lying/making excuses.

Re: Credit Card recons never work for me? Suggestions?

myjourney — Sat, 23 Apr 2016 17:06:03 GMT

@Open123 wrote:
glamchick wrote:They always go back and say... why do you have a late back in 2012 for your student loans. I explained it came out of derferment and they did not pull from my accounts as I set it up for direct deposit.
While I'm sure the above is true, try answering it this way next time. "I was going through difficult financial period and fell behind; I'm all caught up now and in a much better financial state now than back then." If the student loans are the real reason for their declination, this explanation will likely work better on most Analysts, who just assume everyone who calls is lying/making excuses.

This is very good advice for anyone doing a recon

Remember these are people themselves looking at your history and possibly having been through some hard times as well

By acknowledging your past mistakes and letting them know you're aware where you went wrong and for what reasons and then stating the improvements you've made so it won't happen again

Leads to an understanding ear that says hey worth a shot

And when all else fails before you hang up give the old "I'm willing to start with a low limit to prove that I've turned my credit around

May not get you a large limit but sometimes you just need a foot in the door and $500 is better than a HP with no limit