Walmart/Synchrony Denial Recon via Mail?

Anonymous · ‎05-16-2017

I have a limited credit history and have just begun trying to build/rebuild within the past month. My only prior card was a Capital One Secured Mastercard opened in March 2012, paid in full (March 2013) collection/charge off, listed as account closed at consumer's request.

I was approved for a Credit One card in late April. I just received my first statement last week, and the account was just reported to all three bureaus a few days ago. Planning to pay in full or at least to below 25% by next billing cycle. I was also approved/paid for a Capital One Secured Card about a week ago, which has yet to arrive in the mail.

I applied for a Walmart Card a few days before Credit One fist reported and received a 7-10 day notice. I called in to their credit customer service line the morning of the next business day and was informed that my application was denied and that I could not pursue a reconsideration until I received my official denial via email in three business days. I just received the denial letter, and the only reason given was "INSUFFICIENT CREDIT HISTORY ON FILE".

I've read that Walmart/Synchrony are not known to recon denials, but do you think I might have a chance if I recon by snail mail and attach a copy of my Transunion report (the one they originally pulled) after both of my new cards post? Would I have better odds just forgetting the Walmart for now and applying to some other card? I am trying to get at least three open CC accounts, and would rather not pay for another Secured card if I don't have to.

AverageJoesCredit · ‎05-16-2017

Synchrony does not do recons. Save the stamp and apply later on as your score gets better. If their computer says no thats all she wrote. You could possibly try applying for a Fingerhut account, they were very instrumental in rebuilding my credit and i dont find them as hard to work with as Credit One. Please be careful with that lender. Good luck on your build up, we all start somewhere

Anonymous · ‎05-16-2017

Thanks for the reply... I'll save my time and stress and forget about it for now. Think Fingerhut would take me as I am, or should I wait until my score goes up a bit for that one, too?

AverageJoesCredit · ‎05-16-2017

What is your current score? I also believe Fingerhut triple pulls which stinks but it is what it is. They have 2 programs , Fresh Start, and then their actual credit program. If you get it, just make a small purchase and make a few payments to establish history. Even though their prices are high, tou can find some good deals. Some will say just pay in full always, whichis great advice, but i am just going off my own experience. Fingerhut will give cli wvery couple of months with responsible use. You may also be able to try for a SCT store card from Comenity but again i caution this method as it can get addictive and im not sure of your score.

Anonymous · ‎05-16-2017

Scores range from 555-559 as of this morning... Wondering if I should wait until after the new Cap One card reports for the (I assume) slight increase it will give me. Researching the shopping cart trick now.

Anonymous · ‎05-17-2017

Note: Previous stated scores were actually my Vantage scores. Just pulled FICO 8 and got: 591 Equifax, 590 Experian, and 573 Transunion.

Anonymous · ‎05-17-2017

Let those two cards grow your profile before applying all over. Save yourself the unnecessary HP's. Give it 4-6 months and your score should be on its way in the 600's. Time is the best thing you can give your profile. Also, check out the awesome installment loan thread to boost your score (this only works if you do not currently have an open installment loan on your credit report). I'll find it real quick and link it here...

Edited to add:

http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Adding-an-installment-loan-the-Share-Secu...

AverageJoesCredit · ‎05-17-2017

Your scores are rising which is good. Charlie Foxtrots suggestion is actually a pretty good one. Having a small loan can actually help your credit mix. Most important thing is not to rush it and if you take your time , youll be a great position to get the cards you want.Sometimes 6 months can do alot of good

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Anonymous · ‎05-18-2017

Thanks for the replies. I got no bites on the SCT. I will definitely hold off on applying for any new cards with hard pulls for a while and focus on maintaining the two that I have. Looking at credit unions now to possibly take out a small loan as described.