topic Re: recon skill needed !! in Credit Cards

recon skill needed !!

Anonymous — Fri, 25 Oct 2013 17:16:29 GMT

Well, I'm still in my app spree... yeah, long app spree since last tuesday. Some of my new accounts are reported on my file, it might be bad.

My profile : my oldest accounts are 10 months and 2 new TL shown at this point. Score is around 710ish, I guess.. (I was around 740 but after about 2-4 inquiries on each agency , I guess it should be around 710) No negative at all. Proven income is 85k

Can someone share their wonderful recon skill with me :

1. I applied for citi diamond preferred and denied. I called the number (800) 695-5171 and the gentleman said my revolving accounts were new (10 months) and 2 more new tradeline shown, he couldnt approve me for this reason. Well, how do I counter that?

2. I got denied for Barclay Arrival and called, the fast-speaking lady (yeah, super fast) approved me for merely 1k. I asked for more but she said this is what she could give because of my new profle blah blah blah. Should I call again? If so, what other number to call beside the recon number listed on my fico?

3. Chase freedom approved me for 4500. I called for initial cli to 10k and the lady asked for my income and etc and submitted it for me, came back and declined. She said they were unable to approve me any cli, if there's any, she would counter me. Should I call again? or perhaps, any other number I can call.

4, Discover IT approved me for 2000. I havent call to recon the cli yet. I will call again but how to make strong statement that I indeed need larger cl, which is acceptable for them? since their 5% only cap at 1500.

Expert out there, please share your recon skill and information, Thanks!

Re: recon skill needed !!

ac921ol — Fri, 25 Oct 2013 17:20:19 GMT

If you own a home, then mention you want to put a bathroom remodel on the card.

Re: recon skill needed !!

coldnmn — Fri, 25 Oct 2013 17:22:15 GMT

IMHO short story garden for 6 to 12 months.

Re: recon skill needed !!

Anonymous — Fri, 25 Oct 2013 17:24:18 GMT

OP,

What cards and limits did you have reporting before this spree?

Re: recon skill needed !!

Anonymous — Fri, 25 Oct 2013 17:38:05 GMT

My current TL shown on reports are :

1. BOA cash reward - 12k

2 US bank plat - secured - 4k

3. Sportman's guide - 8k

4. Mypoint Visa - 3k

That's what I have....any hope?

Re: recon skill needed !!

09Lexie — Fri, 25 Oct 2013 17:39:00 GMT

Which are the two new TLs?

Re: recon skill needed !!

B335is — Fri, 25 Oct 2013 17:48:22 GMT

@Anonymous wrote:

Well, I'm still in my app spree... yeah, long app spree since last tuesday. Some of my new accounts are reported on my file, it might be bad.

My profile : my oldest accounts are 10 months and 2 new TL shown at this point. Score is around 710ish, I guess.. (I was around 740 but after about 2-4 inquiries on each agency , I guess it should be around 710) No negative at all. Proven income is 85k

Can someone share their wonderful recon skill with me :

1. I applied for citi diamond preferred and denied. I called the number (800) 695-5171 and the gentleman said my revolving accounts were new (10 months) and 2 more new tradeline shown, he couldnt approve me for this reason. Well, how do I counter that? Try Citi EO.

2. I got denied for Barclay Arrival and called, the fast-speaking lady (yeah, super fast) approved me for merely 1k. I asked for more but she said this is what she could give because of my new profle blah blah blah. Should I call again? If so, what other number to call beside the recon number listed on my fico? Doubtful, Barclay's keeps detailed notes on all customer interactions and stands behind the first CSRs decision typically.

3. Chase freedom approved me for 4500. I called for initial cli to 10k and the lady asked for my income and etc and submitted it for me, came back and declined. She said they were unable to approve me any cli, if there's any, she would counter me. Should I call again? or perhaps, any other number I can call. $4500 is a good starting limit for Freedom, especially with a short history. Chase likes to match your high limits. They've never given me my highest limit.

4, Discover IT approved me for 2000. I havent call to recon the cli yet. I will call again but how to make strong statement that I indeed need larger cl, which is acceptable for them? since their 5% only cap at 1500. Discover recon is iffy at best.

Expert out there, please share your recon skill and information, Thanks!

Re: recon skill needed !!

Anonymous — Fri, 25 Oct 2013 18:10:27 GMT

1. BOA cash reward - 12k ( it was secured card and recently unsecured and cli to 12k)

2 US bank plat - secured - 4k (Since Jan 2013)

3. Sportman's guide - 8k ( Oct 2013)

4. Mypoint Visa - 3k ( Oct 2013)

Re: recon skill needed !!

09Lexie — Fri, 25 Oct 2013 18:13:59 GMT

Is the $12k reporting ?

Re: recon skill needed !!

Pat94108 — Fri, 25 Oct 2013 18:16:08 GMT

@coldnmn wrote:
IMHO short story garden for 6 to 12 months.

+1 That would be my advice as well.

Re: recon skill needed !!

Anonymous — Fri, 25 Oct 2013 18:16:15 GMT

How do I reach citi EO and how should I talk, my application is diamond preferred.

Re: recon skill needed !!

Anonymous — Fri, 25 Oct 2013 18:16:43 GMT

Yes, the 12k is reporting

Re: recon skill needed !!

FinStar — Fri, 25 Oct 2013 18:22:09 GMT

Your file appears to have a lot of new TLs (<12 months) not including your recent app fiesta. How old is your BOA?

IMHO, garden for a while. No expert "reconsideration skills" are going to overshadow the fact that your experience with most of your recent CCs are in a fairly young state of growth (i.e. don't bite off more than what you can chew). In time, you can achieve future CLIs or potentially grow what you currently already have.

Re: recon skill needed !!

09Lexie — Fri, 25 Oct 2013 18:26:25 GMT

Overturning a computer denial with Citi will be difficult because the facts are 4 new TLs opened in less than a year.

Barclays has a possibility of crowing with time and proper usage -I would leave them alone

Chase, if your recon for CLI didn't result in an additional hp, I'm sure another call would. If your credit hasn't changed since the CL was approved- no reason to keep calling. Plus, you have no experience with a $10k CL

Discover does not recon initial CL's. Just use the card and request a CLI after 90 days.

What is the rush with obtaining high cls ? With an extremely thin file you've done well. Let your new lenders have the opportunity to reward your proper credit management by increasing your CLI's.

Re: recon skill needed !!

Anonymous — Fri, 25 Oct 2013 18:39:49 GMT

I just try to get as much as I can with my hp....lol and then garden. After 6 to 12 months, CLI with higher initial credit will have better result, I guess.

What else should I apply now? any cards suggestion with decent initial credit and good features. I wanna push it all in together and let all the hp age together before my home loan in 2015 or 2016.

In this app spree, I got approval from BCE, Discover IT, Barclay arrival, 2 comenity visa cards, Chase freedom, DCU auto loan and DCU visa card. There are 4 more pending applications

Re: recon skill needed !!

09Lexie — Fri, 25 Oct 2013 18:44:07 GMT

You didn't mention Amex, DCU or 4 more apps. You have apped enough to let those accts/inq's age together. There's nothing wrong with getting the most bang for your buck but its time to stop when you get 1. Lower CL's; 2 have to recon 3 denials.

Re: recon skill needed !!

Anonymous — Fri, 25 Oct 2013 18:47:21 GMT

If you had waited to 1 year mark on first cards, your app spree would have gone better. Personally I wouldn't bother with further recon at this point as I doubt it would work. However, I would ask them to match your 12k card and say you could use that for amount for daily use. However, don't be surprised if someone pulls another HP during your recon process.

Re: recon skill needed !!

Anonymous — Fri, 25 Oct 2013 18:49:20 GMT

The Amex and the rest are not shown on my report yet.

I forget to apply GE, which GE card is good?

By the way, how do I contact Citi EO? and how should I start my conversation with them? can I just tell them that I just got declined for credit card application and wanna recon?

Re: recon skill needed !!

09Lexie — Fri, 25 Oct 2013 18:56:07 GMT

The question was what new TLs are not on your report, in response to your '2 new TLs not on your report'.

It's difficult to help if the information comes in spurts.

With the volume of new accounts -reporting or not- and the potential of pending applicants to be approved, your chances of successful recons are slim at best.

Good luck!

Re: recon skill needed !!

parakleet — Fri, 25 Oct 2013 19:04:28 GMT

@09Lexie wrote:
You didn't mention Amex, DCU or 4 more apps. You have apped enough to let those accts/inq's age together. There's nothing wrong with getting the most bang for your buck but its time to stop when you get 1. Lower CL's; 2 have to recon 3 denials.

+1 Couldn't agree more. A spree stops being successful if you're being met with denials. You gotta know when to stop while you're ahead. That's a lot of new accounts for someone even with a thick file so I would stop while you're ahead.