How to do a recon

[Anonymous]

Good Morning!

So, I have gotten the dreaded "7-10 business days" From Barclays. I hear they are relatively easy to recon. What should a recon conversation highlight? 

I recently had my chp 7 discharged, and before I read SM's howto 24 month to 700, I applied to barclays, and 2 cap1 cards. I was approved on cap1, but 7-10 days on Barclays.

I dont want to waste the hard pull, so I figure I would at least ATTEMPT a recon. Here is what I am thinking of saying:

1) HIghlight income (high, with no debt now, thankyou brupt)

2) Offer to sign the IRS paperwork for copies of tax returns to prove income

3) Explain about learning how to rebuild, and how I am enrolled in scorewatch 

4) ask for a small limit to prove that I do have creditworthiness

Anything else? I am going to call Monday I think.

Thanks!

[Anonymous]

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@Anonymous wrote:

Good Morning!

So, I have gotten the dreaded "7-10 business days" From Barclays. I hear they are relatively easy to recon. What should a recon conversation highlight? 

I recently had my chp 7 discharged, and before I read SM's howto 24 month to 700, I applied to barclays, and 2 cap1 cards. I was approved on cap1, but 7-10 days on Barclays.

I dont want to waste the hard pull, so I figure I would at least ATTEMPT a recon. Here is what I am thinking of saying:

1) HIghlight income (high, with no debt now, thankyou brupt)

2) Offer to sign the IRS paperwork for copies of tax returns to prove income

3) Explain about learning how to rebuild, and how I am enrolled in scorewatch 

4) ask for a small limit to prove that I do have creditworthiness

Anything else? I am going to call Monday I think.

Thanks!

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They will ask a series of questions. Just answer as truthfully as possible while trying to build a rapport with the analyst.

[Anonymous]

Thanks! Currently my fico stands at eq 591, tu 581 and exp 615. Does that sound like it's even worth a recon?

[Anonymous]

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@Anonymous wrote:
Thanks! Currently my fico stands at eq 591, tu 581 and exp 615. Does that sound like it's even worth a recon?

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That depends what you applied for.

Truthfully though, You will be hard pressed for an approval with those FICO's.

[Anonymous]

I know. I'm working on rebuilding in th bk section of the forums watching my utilization rates, and working the system to up my scores. Like I said, I just got my bk discharge. I did get 2 unsecured cards from capital one. I applied to the lowest Barclay card, so I am going to at least attempt a recon, so it's not a complete waste of a hard pull

[uswala]

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@Anonymous wrote:
I know. I'm working on rebuilding in th bk section of the forums watching my utilization rates, and working the system to up my scores. Like I said, I just got my bk discharge. I did get 2 unsecured cards from capital one. I applied to the lowest Barclay card, so I am going to at least attempt a recon, so it's not a complete waste of a hard pull

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+1

Recon will not hurt. The worst they will do is refuse you, which is already the case.

[Anonymous]

Absolutely try a recon. They might even come back with a $250 limit and no special offers, take it anyway.

[Anonymous]

There is a chance you may get grilled for your scores. Best thing to do if you get a really salty analyst is try to end the conversation ASAP and go for another shot. You may have the opportunity to speak with a nicer and more understandable analyst. And in my experience, most of the analysts I've recon-ned with said they found typos in my application (which is strange because I ALWAYS triple check before submitting) that they "fixed" for me to get me approved. That might not be the case but you can ask if there was anything directly on your application that concerned them as well. 

[Anonymous]

So, I called twice. The first one said no- the second analyst listened and was really helpful. He basically said, the 7 is to recent and that as soon as I have 3-6 months of history to apply again. He and I spoke for about 20 mins and I grilled him about utilization rates, diversifying my credit profile by taking a credit builder loan, and if secured cards were worth it. He gave me his ID number and said they would happy to take me as a customer after 6 months and to call for reconsideration from him. So maybe it's bs, but he made a point to say he was noting my account and was helpful. I guess I will have to wait and see

[Anonymous]

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@Anonymous wrote:
So, I called twice. The first one said no- the second analyst listened and was really helpful. He basically said, the 7 is to recent and that as soon as I have 3-6 months of history to apply again. He and I spoke for about 20 mins and I grilled him about utilization rates, diversifying my credit profile by taking a credit builder loan, and if secured cards were worth it. He gave me his ID number and said they would happy to take me as a customer after 6 months and to call for reconsideration from him. So maybe it's bs, but he made a point to say he was noting my account and was helpful. I guess I will have to wait and see

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That is a very nice analyst... They usually don't come packaged like that.  Some of them are pretty nasty.  I will wait and aply in 6 months as he said and by then your scores should be higher..