I recently was turned down for a BofA platinum visa for the reason of too many inquiries. I only had 2 other inquiries at the time of application on my TU file and thats what they pulled. I wrote a PFB letter to BofA and asked them to reconsider. Well, it worked! A very nice lady by the name of Rose called me and said she approved the platinum card with a limit of $3,500. The whole process took about 2 weeks. My TU score at the time was 711 with an old chargeoff back in 1997. Thanks BofA!!!!!!
CONGRATULATIONS!!!! MOST of us like BofA... They are BT friendly!!! They "USUALLY" give limit increases WITH-OUT a "HARD" INQUIRY... Some of us have a BT RATE of PRIME + 0.00% FIXED... Should drop from 4.25% to 4.00% SOON...
Speaking of Planetfeedback, I have a (certain to be dumb) question. I have had abysmal luck with Planetfeedback (I think I've tried it 3 times, with 3 different companies and each time I received a generic form letter back) Are the people who are successful posting the entire message publicly? I have been sending mine privately, but I realize now as I think about this, that it sort of defeats the purpose. So my question is: Does PF only work when you post publicly? Thanks in advance for answering!! C
I DON'T POST PUBLICLY ANY MORE...(I have done a few PFB though...NOT PUBLIC) SOME PEOPLE HAD PROBLEMS WITH WHAT I ASKED FOR!!! I also was accused of being a PAID COMMENTATOR!!! So I never even put in my 2 cents any more with any feedback!!!
I have used planetfeedback approximately 5 times. I have had great success 3 of the 5 and the other 2 just never responded. 1 was for a interest rate reduction with Capital One (19.05 down to 9.9%), 2nd was for reconsideration for denial for CITGO credit card (just received my new CITGO card in the mail last week), 3rd was for a bad dinner experience at TGI Friday's (will be receiving gift certificates in the mail). The 2 unsuccessful ones were for Providian - they are reporting a charge-off on my credit where I was only listed as AU and they will not do anything to remove it. The last one that I sent was to Sterling Bank - they are reporting 2 late payments on a closed account but they are reporting the dates different on all 3 credit reports which is incorrect but they have not responded. All of my letters were sent publicly except for the reconsideration for the CITGO card. I think that you definately have a better chance of success if the letter is public. When they receive it, they know that it is out there for everyone to see. Good luck!
I didnt use the public feedback system. I emailed it privately. I guess it would make more sense to have it out in the public.
Slee, I would try sending the letters again just send them publicly this time. I have seen others post where they weren't successful on the 1st try so they continued to try. Good luck! paw67
Can you please give me an example of a reconsideration letter you've sent that worked? I have a vague idea of what to say but would like some advice. Thanks
This worked for me: I was recently denied credit from your company for the ABC card. The reference number is 1234561234567. The reason for denial was history of late payments on credit obligations. I would like to ask for reconsideration. After receiving the denial notice I obtained a copy of my credit report and have had a few incorrect items removed and am working on a few others. I currently have a XYZ credit card that I have had for 2 years and have always paid on time/never late, also XXX card for 17 months on-time/never late and in February I was issued a credit card through ZZZ Bank that has been on-time never late. While I realize that I have had a few credit problems in the past I am working hard to maintain a positive credit history and would appreciate being given the chance to prove to your company that I am worthy of credit with you. Please take the time to reconsider my application. I'm sure, if given the chance, I can prove to you that I am worth the risk. I sent it to Citigroup regarding a CITGO credit card. They originally denied me for history of late payments, so I pointed out that my current TL's are all paid on time/never late. They responded within a couple of days by mail with a letter telling me that they were investigating the matter and asked that I wait 10-14 days for their decision. They pulled another hard inq on a different CRA (initially pulled EQ and denied, which is my best report and then pulled TU which is my worst). Just over 2 weeks after receiving their letter I received my new CC in the mail and a letter from the woman that processed my reconsideration. The limit is only $200 but I just asked for them to give me a chance and since it is a gas card I don't really need any more than that so I am happy. Good luck!! paw67
Thanks for the replies. The more I think about it, the more I realize that the intention of PFB is to get a company's attention by publicly airing an issue. My experience certainly supports that premise. When I sent my letters privately, they basically blew me off. I doubt I'll try that route again, but if I do, I'll post publicly.
