topic Re: RECON QUESTIONS in Credit Cards

RECON QUESTIONS

Anonymous — Wed, 25 Jan 2017 04:06:22 GMT

If a CC company asks "why so many apps for new credit"...Is there a BEST answer? .....

Re: RECON QUESTIONS

pizza1 — Wed, 25 Jan 2017 04:27:52 GMT

my favorite has always been...........

"yes, I realize that 40 INQ over the past year for credit may seem excessive, but I have been rebuilding aggressively, and much to my astonishment, I was very successful!! Had I known about this particular credit card then, like I do now, which meets all my needs, I wouldn't have had to attempt so many other cards."

LOL

Re: RECON QUESTIONS

Anonymous — Wed, 25 Jan 2017 04:48:20 GMT

The best answer is the truth - what the underwriter is looking for is an honest explanation of what you were doing/thinking...trying to figure out whether or not those inquiries indicate desperation, or just excessive shopping

Re: RECON QUESTIONS

pizza1 — Wed, 25 Jan 2017 05:22:57 GMT

@Anonymous wrote:
The best answer is the truth - what the underwriter is looking for is an honest explanation of what you were doing/thinking...trying to figure out whether or not those inquiries indicate desperation, or just excessive shopping

This is true..its how I got back in with Chase after a recent major burn. Plus I got lucky with a amazing UW

Re: RECON QUESTIONS

Anonymous — Wed, 25 Jan 2017 05:32:23 GMT

@Anonymous wrote:
The best answer is the truth - what the underwriter is looking for is an honest explanation of what you were doing/thinking...trying to figure out whether or not those inquiries indicate desperation, or just excessive shopping

"I'm planning a bust-out fraud, and need all those cards to maximize my gains". So if you goals are nefarious, sometimes telling the truth might not be the best plan....

Re: RECON QUESTIONS

Creditplz — Wed, 25 Jan 2017 07:29:32 GMT

Just be honest with UW, I had 50 inq on EX while on my applying frenzy and whenever they'd ask I'd say I'm building and going to keep those cards for the long run not just bonuses

Re: RECON QUESTIONS

Anonymous — Wed, 25 Jan 2017 22:20:36 GMT

Pizza's response is hilarious.

I've never been asked that question but I think it's generally best to tell the truth with the type of stuff..

Re: RECON QUESTIONS

stellar — Thu, 26 Jan 2017 00:16:29 GMT

What not to say to that question:

I'm a credit card hoarder

What are you, a cop?

Gambling has highs and lows, I need lots of cards to cover it.

I just LOVE to shop!

My income isn't enough, I need credit to get the lifestyle I deserve!

lol

Re: RECON QUESTIONS

AverageJoesCredit — Thu, 26 Jan 2017 00:22:12 GMT

Yes , tell them thats the only way to obtain more credit

Re: RECON QUESTIONS

Anonymous — Thu, 26 Jan 2017 01:56:42 GMT

stellar says.....

What not to say to that question:

I'm a credit card hoarder

What are you, a cop?

Gambling has highs and lows, I need lots of cards to cover it.

I just LOVE to shop!

My income isn't enough, I need credit to get the lifestyle I deserve!

............................................................................................................................gosh darn STELLAR..yOU MUST HAVE 300K of credit. I count 47 cards....pretty amazing. A billfold for them must be expensive...LOL

Re: RECON QUESTIONS

Anonymous — Thu, 26 Jan 2017 02:08:01 GMT

@stellar wrote:
What not to say to that question:

I'm a credit card hoarder
What are you, a cop?
Gambling has highs and lows, I need lots of cards to cover it.
I just LOVE to shop!
My income isn't enough, I need credit to get the lifestyle I deserve!

lol

Is this why I'm not getting approved?! Crap....

Re: RECON QUESTIONS

Anonymous — Thu, 26 Jan 2017 03:12:07 GMT

@Anonymous wrote:
@stellar wrote:
What not to say to that question:

I'm a credit card hoarder
What are you, a cop?
Gambling has highs and lows, I need lots of cards to cover it.
I just LOVE to shop!
My income isn't enough, I need credit to get the lifestyle I deserve!

lol
Is this why I'm not getting approved?! Crap....

Just explain that all the other issuers have turned you down for some TOTALLY bogus reasons, so you really need this card

Re: RECON QUESTIONS

tiffjtiffj — Thu, 26 Jan 2017 03:26:41 GMT

Start with "Well now it turns out I gotta build that wall so its only fair"