Reply
Contributor
Posts: 90
Registered: ‎11-12-2010
0

Wells Fargo not BK friendly

I'm 1 yr 5 mo. past Chpt 7 discharge with an Exp. score of 680. I have a student loan with Wells Fargo and have never been late in the 5 years I've been paying on it. I had a rewards card offer from Wells Fargo, applied for it  and was denied. Reason given was BK. Hate dinging my credit for that. It's the third credit app I've made since discharge.

 

I have a Barclays Card with 1900 limit obtained 1 year past discharge and also a $750 Capitol One card. 

 

Unfortunate as it is, the upside is I'm still better off with the BK.

 

 

Established Member
Posts: 15
Registered: ‎06-11-2012
0

Re: Wells Fargo not BK friendly

Sorry to hear about Wells Fargo, but you should try to apply for a card from DCU (Digital Federal Credit Union). They are BK friendly. You can apply first and if you are approved, then you can apply for membership into the credit union. They pull Equifax.

Regular Contributor
Posts: 226
Registered: ‎09-04-2012
0

Re: Wells Fargo not BK friendly

You're right Wells Fargo is not bankruptcy friendly.  If this happened to me, I think I would go to my local Wells Fargo branch to talk to the branch manager about the decline. Since you have a loan with them that has 5 years of payment history, you may have a chance. A phone call or two to their credit department maybe of some help. 

 

Give it a try.What do you have to lose??

 

If they still decline your application, you should try a credit union.

Valued Contributor
Posts: 1,978
Registered: ‎07-12-2012
0

Re: Wells Fargo not BK friendly

Agreed! Asking for a recon can't hurt. You never know, maybe their electronic decision auto declined for BK but a underwriter/credit analyst could over ride it?
Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
704 EQ FICO 03/2015
718 TU FICO 03/2015
679 EX FICO 03/2015
$14k NFCU Platinum | $25k NFCU cashRewards Sig | $15k NavChek | $9k Barclay Arrival WEMC | $5.4k Cap1 Quicksilver | $5k Amazon Store | $10k Cap1 VentureOne | $5k Barclay US Airways
Valued Member
Posts: 36
Registered: ‎01-27-2008
0

Re: Wells Fargo not BK friendly

Maybe they are not BK friendly on the credit card side but I got an auto loan through them at 5.9% just a little over 2yrs post bk7. My scores at the time were in the 650-660 range per the loan officer. I also did not have any WF accounts IIB.

Valued Member
Posts: 36
Registered: ‎01-27-2008
0

Re: Wells Fargo not BK friendly

I can 100% attest to Digital Credit Union. They just refinanced my auto loan I had through wells fargo. I was mistaken I had 6.9 through wells fargo. Digital just refinanced me at 2.49%. They also gave me a 3k credit card at 11.9%. For sure they are bk friendly... at least for me a the 3yr post bk mark.

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.