Best and Worst Reasons to Give For Reconsideration?

[Jazee]

I'm curious what people would list as the best and worst reasons to give when asking for reconsideration?  

I remember years ago, can't remember what the product was, maybe a home equity line of credit but not sure.  Whatever it was it got hungup in underwriting, not a denial but not an approval.  It was due to a couple credit cards with high limits.  I explained I was going to transfer the balances to the new product and close the credit cards.  This got me the approval.

But I think I read somewhere on credit card recons, saying you are going to use the card for the balance transfer offer is a reason to avoid?  As this is telling them they aren't going to make any money off you for the intro period.  But they should already realize that especially if the card has both an intro balance transfer and purchase 0% APR.

[markbeiser]

Not sure on a "best" reason, but definitely don't tell them you have been diagnosed with a terminal illness and are looking to fund a bucket list trip!🙃

[Jazee]

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@markbeiser wrote:

Not sure on a "best" reason, but definitely don't tell them you have been diagnosed with a terminal illness and are looking to fund a bucket list trip!🙃

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Thanks for the laugh!  That may get some people thinking though. 

[markbeiser]

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@Jazee wrote:

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@markbeiser wrote:

Not sure on a "best" reason, but definitely don't tell them you have been diagnosed with a terminal illness and are looking to fund a bucket list trip!🙃

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Thanks for the laugh!  That may get some people thinking though. 

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I'm 56 and in good health, but it is something I've thought about.
I've yet to come up with a better reason to work on maximizing my available credit.
It isn't like I'm going to win any TCL pissing matches on my median income!

[Jazee]

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@markbeiser wrote:

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I'm 56 and in good health, but it is something I've thought about.
I've yet to come up with a better reason to work on maximizing my available credit.
It isn't like I'm going to win any TCL pissing matches on my median income!

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To be honest, I've been on this forum for a few years.  And I'm sure there are others like me that are kind of scratching their head looking at these signatures with tiny images of 10-25 credit cards.  I understand about subs, churning, temporary use for large purchases on a 0% APR, maximizing rewards/points etc.  But come on, 15+ cards? I'm guessing there's a portion of people here treating it like a game, even a competetive game. Why have 15+ credit cards, 13 of which you never use or just use briefly to keep active?  But I know that question has probably been asked before.  Your potential strategy is the only one I've seen that would make sense to get all those cards.  But one might consider it morally questionable others may not pointing out the billions banks make in high interest cards.

[odd_dog]

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@Jazee wrote:

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@markbeiser wrote:

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I'm 56 and in good health, but it is something I've thought about.
I've yet to come up with a better reason to work on maximizing my available credit.
It isn't like I'm going to win any TCL pissing matches on my median income!

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To be honest, I've been on this forum for a few years.  And I'm sure there are others like me that are kind of scratching their head looking at these signatures with tiny images of 10-25 credit cards.  I understand about subs, churning, temporary use for large purchases on a 0% APR, maximizing rewards/points etc.  But come on, 15+ cards? I'm guessing there's a portion of people here treating it like a game, even a competetive game. Why have 15+ credit cards, 13 of which you never use or just use briefly to keep active?  But I know that question has probably been asked before.  Your potential strategy is the only one I've seen that would make sense to get all those cards.  But one might consider it morally questionable others may not pointing out the billions banks make in high interest cards.

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That's easy, not a contest, and not hard to use them all....well depending on what you are using them for....padding is the most I hear all the time on this board but I use them for status...SO all the hotel and airline cards are used for free luggage, upgrades etc....makes sense right? Doubling up on the Cash cards lets me have 5% on MANY categories not just the "most" I spend that month.... Then there are the cards that have no FTF, need those for purchases outside the US, If your profile can hold them all why not?

[markhs777]

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@Jazee wrote:

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@markbeiser wrote:

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I'm 56 and in good health, but it is something I've thought about.
I've yet to come up with a better reason to work on maximizing my available credit.
It isn't like I'm going to win any TCL pissing matches on my median income!

---

To be honest, I've been on this forum for a few years.  And I'm sure there are others like me that are kind of scratching their head looking at these signatures with tiny images of 10-25 credit cards.  I understand about subs, churning, temporary use for large purchases on a 0% APR, maximizing rewards/points etc.  But come on, 15+ cards? I'm guessing there's a portion of people here treating it like a game, even a competetive game. Why have 15+ credit cards, 13 of which you never use or just use briefly to keep active?  But I know that question has probably been asked before.  Your potential strategy is the only one I've seen that would make sense to get all those cards.  But one might consider it morally questionable others may not pointing out the billions banks make in high interest cards.

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@Jazee wrote:

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@markbeiser wrote:

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I'm 56 and in good health, but it is something I've thought about.
I've yet to come up with a better reason to work on maximizing my available credit.
It isn't like I'm going to win any TCL pissing matches on my median income!

---

To be honest, I've been on this forum for a few years.  And I'm sure there are others like me that are kind of scratching their head looking at these signatures with tiny images of 10-25 credit cards.  I understand about subs, churning, temporary use for large purchases on a 0% APR, maximizing rewards/points etc.  But come on, 15+ cards? I'm guessing there's a portion of people here treating it like a game, even a competetive game. Why have 15+ credit cards, 13 of which you never use or just use briefly to keep active?  But I know that question has probably been asked before.  Your potential strategy is the only one I've seen that would make sense to get all those cards.  But one might consider it morally questionable others may not pointing out the billions banks make in high interest cards.

For most it's not a game to possess 15+ cards. If one can even put an extra couple of dollars in their pocket by having a particular card it make perfect sense. Now if you're a compulsive spender that's a different story.

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For most it's not a game to possess 15+ cards. If one can even put an extra couple of dollars in their pocket by having a particular card it make perfect sense. Now if you're a compulsive spender that's a different story.

[markbeiser]

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@markhs777 wrote:

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For most it's not a game to possess 15+ cards. If one can even put an extra couple of dollars in their pocket by having a particular card it make perfect sense. Now if you're a compulsive spender that's a different story.

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Yeap, my road map for acquiring new cards is all about clawing as many dollars out of banks as I can.
For myself, I just struggle with a reason I bother with pushing for higher and higher limits on my cards after a certain point, so I came up with the "Bucket List" funding justification for my obsession.🙂

[Snook_on_the_Line]

Its becoming a hobbie for me.   

Finding a card with a either a sub I can handle or rewards I'll actually use ( or both),

applying,

getting the 7-10 day message,

calling for recon,

getting approved,

posting about it here, 

collecting the sub,

watching the CB/Points/miles grow

cashing out,

getting CLIs,

posting about them here,

looking for the next card knowing full well that they are only giving a sub and a big limit because they expect me to overspend and pay them intrest,

and the best part...

   Knowing that's not what is  about to happen. 

but as far as the ops question 

I've talked to recon twice this year and the reason that has worked for me is that I'm looking to replace card xyz with your card because card xyz charges an annual fee but I get no real value from it.   

[Jazee]

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@odd_dog wrote:

That's easy, not a contest, and not hard to use them all....well depending on what you are using them for....padding is the most I hear all the time on this board but I use them for status...SO all the hotel and airline cards are used for free luggage, upgrades etc....makes sense right? Doubling up on the Cash cards lets me have 5% on MANY categories not just the "most" I spend that month.... Then there are the cards that have no FTF, need those for purchases outside the US, If your profile can hold them all why not?

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Ya, I get all that but won't most mortgage lenders look at your report and see that many cards and be like **bleep**?  You have way too much *potential* credit debt for us to give you this mortgage.  Or do they absolutely not care you have 15 credit cards as long as your 2 years of credit history shows little use and always paying them off?