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RECON QUESTIONS

meatman1
Established Contributor

RECON QUESTIONS

If a CC company asks "why so many apps for new credit"...Is there a BEST answer? .....

Message 1 of 13
12 REPLIES 12
pizza1
Community Leader
Super Contributor

Re: RECON QUESTIONS

my favorite has always been...........

"yes, I realize that 40 INQ over the past year for credit may seem excessive, but I have been rebuilding aggressively, and much to my astonishment, I was very successful!! Had I known about this particular credit card then, like I do now, which meets all my needs, I wouldn't have had to attempt so many other cards."

LOL Smiley Wink


My rebuild worked for me, but won't necessarily work for you!
BK7 D/C- 08/2013
Message 2 of 13
TygerHawke
Established Contributor

Re: RECON QUESTIONS

The best answer is the truth - what the underwriter is looking for is an honest explanation of what you were doing/thinking...trying to figure out whether or not those inquiries indicate desperation, or just excessive shopping

Message 3 of 13
pizza1
Community Leader
Super Contributor

Re: RECON QUESTIONS


@TygerHawke wrote:

The best answer is the truth - what the underwriter is looking for is an honest explanation of what you were doing/thinking...trying to figure out whether or not those inquiries indicate desperation, or just excessive shopping


This is true..its how I got back in with Chase after a recent major burn. Plus I got lucky with a amazing UW Smiley Wink


My rebuild worked for me, but won't necessarily work for you!
BK7 D/C- 08/2013
Message 4 of 13
longtimelurker
Mega Contributor

Re: RECON QUESTIONS


@TygerHawke wrote:

The best answer is the truth - what the underwriter is looking for is an honest explanation of what you were doing/thinking...trying to figure out whether or not those inquiries indicate desperation, or just excessive shopping


"I'm planning a bust-out fraud, and need all those cards to maximize my gains".  So if you goals are nefarious, sometimes telling the truth might not be the best plan....

Message 5 of 13
Creditplz
Valued Contributor

Re: RECON QUESTIONS

Just be honest with UW, I had 50 inq on EX while on my applying frenzy and whenever they'd ask I'd say I'm building and going to keep those cards for the long run not just bonuses Smiley Happy
Message 6 of 13
12velectronics
Valued Contributor

Re: RECON QUESTIONS

Pizza's response is hilarious.

I've never been asked that question but I think it's generally best to tell the truth with the type of stuff..
Message 7 of 13
stellar
Established Contributor

Re: RECON QUESTIONS

What not to say to that question:

 

I'm a credit card hoarder

What are you, a cop?

Gambling has highs and lows, I need lots of cards to cover it.

I just LOVE to shop!

My income isn't enough, I need credit to get the lifestyle I deserve!

 

lol

Message 8 of 13
AverageJoesCredit
Community Leader
Mega Contributor

Re: RECON QUESTIONS

Yes , tell them thats the only way to obtain more creditSmiley Wink
Message 9 of 13
meatman1
Established Contributor

Re: RECON QUESTIONS

     stellar says.....

What not to say to that question:

 

I'm a credit card hoarder

What are you, a cop?

Gambling has highs and lows, I need lots of cards to cover it.

I just LOVE to shop!

My income isn't enough, I need credit to get the lifestyle I deserve!

 ............................................................................................................................gosh darn STELLAR..yOU MUST HAVE 300K of credit. I count 47 cards....pretty amazing. A billfold for them must be expensive...LOL

Message 10 of 13
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