Quote from Fre3bie
I wouldn't think that reapplying would hurt your chances, so long as you didn't just copy and paste the same application from your previous attempt. Any denied application was denied for a reason, so truthfully someone shouldn't just post another one without taking some time to think of how they can improve themselves and then go and actually do it. Being able to find your flaws and then working to improve them is a good trait.
I agree with you completely, I got denied and I sort of get why, so I'm going to focus on helping the community then I'll re-apply in about 3 months.