02-26-2013 10:34 AM
I got a credit increase for my Wells Fargo College Cashback from 1200 to 1500 in October 2012. I'm thinking about asking for another increase in april, do you think my new cards will affect my approval chances? I got four new cards in January. Also, I closed my checking with them this month.
Info: Fulltime Student, 19yo, Credit card was opened 3/2012
3000(Oct 2012) to 10,000 income(Now)
Longer credit history
Always pay on time
4 new cards in January
Closed a five year checking account with them
02-26-2013 12:33 PM
02-28-2013 12:22 AM
as long as it's not a HP, it won't affect your chances for other cards.
Just tell them to make sure its a SP, not a HP.
They might increase u a little more, but it won't be too drastic. They didn't up my CL too high back then until I got out of the college card and switched to the platinum instead. A lot of other people who had the college card also complained of the same issues.
You closing your checking account might affect it a little as well, especially if you had a high balance with them before.
Always worth a try if it's a SP though. Even if they said no, it won't hurt.
02-28-2013 06:42 AM
02-28-2013 10:14 AM
Wells fargo is a 6 month thing most of the time (every 6 months). Cli will be a soft pull and they will counter offer. It will be a HP if initially denied and they send it further (which you can request they not do), or if they counter offer and you want them to "further process" for the whole amount you asked for.
So, basicially if they don't accept my offer and counter offer it will be a soft pull, but if i get denied it's a hardpull, correct?
02-28-2013 10:22 AM
03-01-2013 09:46 AM
If they counter offer...
Say you request 5k and they say "we can approve you for 3500,would you like to submit it for further processing?"
If you say yes it is a HP, if you say no it is a SP.
If you get denied they'll use the same "would you like to submit for further processing?"
Yes is a HP, no is a SP
Has that always been the case? I could've sworn the last time I asked for a CLI they said it would be a HP. Although, I think I was going to have to move from the college card to Regular Platinum, so maybe that was it. According the Rep, she couldn't understand my account or where it came from... oh gotta love legacy Wachovia!
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