WFNNB Recon

[adamseve]

Has anyone had any success with a recon request with WFNNB CCs?  If so, what CC and what did you have to overcome?

I have a Ch7 discharged in '06 and I have only 2 pieces of good new credit.  Recently got Crown Jewelers & 2 sub prime CCs that are not reporting yet.  My highest FICO is Experian with 11 collection accounts, with 7 of them being medical collections.  6 of the collection accounts should be falling off soon.  Also, I have 1 installment account that has 9 lates.  I'm GWing the company weekly.  Prayerfully someone will have mercy on us and delete the lates.

[haulingthescoreup]

What card are you applying for? I know that we have members that are happy with their WFNNB CC's, but my J.Crew card has greatly increased my number of grey hairs. Also, WFNNB has a reputation of being incredibly vicious if you ever have problems.

If you can stand it, I'd hunker down for a while and let the new cards start working for you, and let the collections go away, and see where you stand. Getting declined by WFNNB might turn out to be a blessed escape.

[adamseve]

I'd like the NY & Co card.

haulingthescoreup, you're right about waiting until the cards start working for me.  I would really like a store card to diversify the credit mix.  I've heard you need to have a good mix.  Is this correct?

Also, this card would be a prime card in the midst of all of the sub-prime cards. 

[haulingthescoreup]

Supposedly you "need" a score card to improve your mix. I've read the FICO explanation of this, and I'm not sure that it's so. Some members have reported score improvements when they got a store card (you only need one), and others have said that it made no difference.

I don't know that I would put WFNNB in the prime category. These are store cards rather than bank cards (Visa, MC, Discover, and AmEx), and it's the bank cards where we usually talk about prime. Prime issuers are generally considered to be AmEx, Discover, Citi, Chase, Bank of America, and then US Bank, and a bit more on the edge WaMu, CapOne, etc.

The first time I googled WFNNB I wound up on a website called badcreditcards-dot-com, or some such, which will give you some idea about them. (This site seems to have died. I remember that they were asking for sponsors or something at the time.) The main problem there was horribly abusive collection tactics.

My problem with my card, and others have found this with Victoria's Secret, is that you can't get them to update your reports in a timely manner. They don't update (despite what they say) unless you have a statement, and they don't issue a statement unless you have a balance. So once you pay your balance, they won't issue a new statement, and your reports won't update, and there's that stupid balance, month after month. I've had to dispute twice to get them to report $0. So you definitely won't be able to use them in managing your util --you'll have to PIF before the statement drops each time. And then, since you never have a balance, they won't update, so your account will look stagnant.

I love NY&Co, though! I'm amazed at how these high-end stores go with WFNNB. They must give them a heckuva deal.

The CSR's are sweeties, but OMG, the card is wearing me out.

I feel guilty for carping about them, when people are hoping to get their cards. I'd just like to know that others are going in with their eyes open.

[diva0969]

Eve,

I was recently approved for an Avenue store card with six collections (2 in the past year  and a discharged chapter 13.  They sent me a letter stating that they could not approve me under the terms I had requested (don't know what that meant) but they offered alternate terms.  I had to send $25 in and then they would approve me.  I had never heard of a store card doing that, so I called and  after chatting up the rep, decided to go for it.  I got the card in the mail a week later and they had credited the $25 to my first statement. 

I also wanted a store card to add to the mix and Macy's and Target had denied me.  I tried the Avenue (big girl store) because I do shop there and I knew it would come in handy.  They are issued by WFNNB so I was skeptical.  They had denied me in the past.  I was amazed that this had worked out.

As far as their collections, I don't know. My sister had them years ago (Express) when she had some trouble financially but they hung in there with her. She still has the card and I believe she now has scores in the 800s.

Keep trying, you'll get what you need.  But you might want to see what you can do about your baddies as well.

Diva

Message Edited by diva0969 on 06-15-2008 05:52 PM

[bamagirl1]

diva-

interesting info you gave, i had always thought wfnnb was a no go if you had any kind of collections or bk...

good luck w/recon orginal poster, keep up posted w/results

[bamagirl1]

adamseve--

did u try? any luck?

[adamseve]

bamagirl1, I didn't try yet.  I'm trying to wait until my credit reports are updated with the deletes, etc.  Praying that my score will increase some before jumping it...It's hard, but I don't want a lot of inquiries knowing that I probably have a slim-to-none chance of being approved.

[Anonymous]

I don't know about anyone else. But personally I got a approved for a card through WFNNB and at the time I had 12 unpaid collections on my equifax report that they pulled and a score of 596.

[Anonymous]

Can I bump this....

Im looking for someone with info on American TV recon....

I want a card for furniture purchases and was denied on the basis of low # accounts (which I don't have) and low utilization (which why should they care)

I tried the WFNNB # in the backdoor area but thats not the right one for American....