Recon Tips

[Anonymous]

Pretty new here and I keep reading about recons I know that means calling the company and trying to get them to reconsider. Can't find very much about what tactics to use. What works? What doesn't work? Love to here some General do's and don'ts.

After the general things I would like some specific information and advice on my situation.

Lost most everything in the construction collapse in Florida in 08. Fought our way back and now we are doing well. Lost the house and haven't had a credit card in 7 years. Thought it was time to work on the credit. Went to.CK and the bad was gone (but also the good). TU and EQ was around 700 and EX and FICO was 643( That couldn't be right). A box popped up that said I had a good chance that I could be approved for a Cap One CC. I couldn' resist. Denied. No active lines, etc.

Got a secured Discover for @2500 and score went up. Started reading the forum and soaking in this recon thing. Seemed real promising. Maybe I could talk those Cap One guys into reconsidering me. But, what would I say?? My CR is almost blank. Hence, this thread

Looked at the new CR. Inow had an active line. My Discover card, Pd on time. 100% on time. My scores were up 20 pats and I also had 2 closed accounts still reporting. One is 30yo and paid as agreed and the other is 40yo (yeah I'm pretty old) and paid as agreed. My business has made good money the last 5 years and I could show the recon guy a cancelled check for $57K that I paid for equipment for my business as well as a significant bank balance. Would that be enough to get her to reconsider

Like to learn how this recon thing works.

Regards

[fltireguy]

CapOne isn't the easiest to do a recon with, but if you want to you can email the EO and give it a shot

Who do you bank with?
PenFed might be a good idea if there is nothing bad on your reports, they are very very good with recons if you get a denial..

Who do you bank with?

[Anonymous]

Local Bank. No credit card of their own.

I do have a savings account with a credit union that does have a card. I had a conversation with the branch manager this morning. To avoid a HP I am going to get a report for him to look at. I think I can do a "recon" before the application and HP.

I am also going through the paper work for Alliant and looking at PenFed.

The biggest negative is there isn't much on it!!!  I do have one 4+yo collection. I would also like to get some general recon advice for when I need to do one.

[CreditInspired]

Cfrepro,

IMHO, just be upfront and honest about your past situation like you were here with us, and be prepared to detail what positive changes you have made so you won't be put in the same situation again. Talk about how you've come back from the brink of disaster, recovered, and have a savings to counteract future emergencies. If this doesn't work with the 1st CSR, call back the next day and get a different CSR and repeat your story. I am going to try to find the link from a poster that I read a few months back that laid all his/her cards on the table and successfully recon. Good luck to you.

[Anonymous]

Thanks for your response. That is just the kind of information I was looking for. I can now have this conversation with confidence that I won't make a fool of myself. I'm surprised I haven't found threads discussing recon strategies. I have started 2 threads addressing this issue and yours is the only answer directly addressing it. I hope you find the other thread.

Regards

[CreditInspired]

cfrepro

I did a search and even though I could not find the post where the poster laid it all on the line during recon, I found this one and hope it helps. Start w/paragraph 6 if you don't feel like reading the entire post.

http://ficoforums.myfico.com/t5/Credit-Card-Approvals/NFCU-starting-credit-line-Recon-for-SAHM/m-p/4...

[Anonymous]

---

@CreditInspired wrote:
Cfrepro,

IMHO, just be upfront and honest about your past situation like you were here with us, and be prepared to detail what positive changes you have made so you won't be put in the same situation again. Talk about how you've come back from the brink of disaster, recovered, and have a savings to counteract future emergencies. If this doesn't work with the 1st CSR, call back the next day and get a different CSR and repeat your story. I am going to try to find the link from a poster that I read a few months back that laid all his/her cards on the table and successfully recon. Good luck to you.

---

+1000 

[CreditInspired]

@Cfrepro,

I must really like you because I was determined I was going to find the post that so inspired me regarding a Recon after denial. So after much searching, the OP is Aikam and it was posted on 3-29-2017.

Here is the link:

http://ficoforums.myfico.com/t5/Credit-Card-Approvals/Navy-Federal-Cash-Rewards-Visa-Approval-after-...

[Anonymous]

Ah, you're probably just showing pity on the geezer. You know we can't barely take care of ourselves. Most people bring me Depends...............

I'll read the link tonight.

Thanks

[Anonymous]

I had to RECON Capital One back in December. I sent a email to the EO and was approved within 72 hours.  The original denial was unable to prove income. I had previously sent my tax return but without the schedules attached. They stated they couldn't tell which income was mine versus my DH (Income over 250K). The EO was very professional and told me if I had any future issues to contact them.