cancel
Showing results for 
Search instead for 
Did you mean: 

Laughable Denial Reason-Wells Fargo

Contributor

Re: Laughable Denial Reason-Wells Fargo


Djgrolyos wrote:
Applied for the Cash Wise Visa for the $200 Spend Bonus. Fico 788-Pulled EX. Denied for one reason only:

No Retail Credit Card Reporting. (We look for how you are using your credit. We look for what types of credit you have)

Well. Sorry I closed my store cards last year. :/


That's just ridiculous lol. 

 

If store cards hurt your credit in some score models, is it due to the lower limits usually with store cards? I have the Walmart MC I know the limits can get crazy high on that card so hopefully it helps me in any of my Wells future apps since they don't have a hard limit on the number of cards with them. They've treated me well so far.

{Cap1 Quicksilver: $750} {Discover It: $1.5k} {Amex BCE: 20k} {Wells Fargo Cash Wise: $6k} {Sam's Club Credit: $967} {Barclaycard Ring: $750} {Chase Slate: $7,500} {Wal-Mart MC: $7.9k} {Chase Amazon: $2k} {Target RedCard: $850} {AU on BofA card: $15k)
Message 11 of 13
Member

Re: Laughable Denial Reason-Wells Fargo

Man Sad to hear that!  i got denied for cash wise because : im not US citizen.....

a friend of mine works at the chase (private client). He said that never saw a letter stating something like - straight discrimitization.

Anyways when it comes to depisit big ammounts into checking account they are fine...

I heard that they big problems with credit card lending, that is why they are trying to decline apps...


Djgrolyos wrote:
Applied for the Cash Wise Visa for the $200 Spend Bonus. Fico 788-Pulled EX. Denied for one reason only:

No Retail Credit Card Reporting. (We look for how you are using your credit. We look for what types of credit you have)

Well. Sorry I closed my store cards last year. :/


 

Message 12 of 13
Valued Contributor

Re: Laughable Denial Reason-Wells Fargo

Store cards hurt the credit scores pulled by insurance companies. Apparently, people with store cards are more likely to make claims.

Message 13 of 13