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Established Contributor
Posts: 653
Registered: ‎10-01-2013
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Really, really, really worried.

As of posting I only have a maximum of $1100 of debt on my CR from charge offs. I put $450 security deposit towards a Wells Fargo Secured Visa. At the time of posting I have worked over 6 months with my current employer and have a positive relationship with Wells Fargo.

 

I submitted the application, thinking I would get an approved message. 

 

I instead got a screen saying 

 

"We need to verify a few pieces of information before we can give you a credit decision".

 

When I called, I got a robot response saying "Your account is currently under review, we will let you know our desicsion in 7-10 days". This sounds like a canned response when one is denied.

 

Has anyone else app'ed for the WF Secured Visa, and if so, can you tell me the process you went through? I'm really worried it will be declined, which stinks, as I am trying to build credit. 

Farm and Fleet $3,000 (AU) Paypal Extras MC $1,500
Barclay's Apple Visa $1,200 QVC Qcard $800
Amazon Store Card $600 Discover $500
Walmart MC $400 Victoria's Secret $350
Credit One $300 Fingerhut $200
TU Fico 626



Senior Contributor
Posts: 3,919
Registered: ‎10-02-2012
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Re: Really, really, really worried.

So you only have the Fingerhut CC as a positive tradeline right now?


(EQ FICO ---) (EX FICO ---) (TU FICO ---) Gardening Since 07/15/15 For All 3 Credit Bureaus
(EQ Inquiries --) (EX inquiries --) (TU Inquiries --) All of my 3 Credit Cards are Secured with a $300 Credit Limit.
Established Contributor
Posts: 653
Registered: ‎10-01-2013
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Re: Really, really, really worried.

Wow, someone else is up at 3am! Man Happy

 

Yes, but it has not been on there more than 6 months, maybe 2 at the most.

 

My CR is not as nearly bad as some people's and the personal banker said even illegal aliens have been approved.

 

Still worrying though, I seem to be the constant victim of murphy's law. 

Farm and Fleet $3,000 (AU) Paypal Extras MC $1,500
Barclay's Apple Visa $1,200 QVC Qcard $800
Amazon Store Card $600 Discover $500
Walmart MC $400 Victoria's Secret $350
Credit One $300 Fingerhut $200
TU Fico 626



Valued Contributor
Posts: 1,715
Registered: ‎03-07-2013
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Re: Really, really, really worried.

op...have you tried other secured cards?



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Moderator
Posts: 6,477
Registered: ‎08-12-2013
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Re: Really, really, really worried.

Perhaps you should try one of the Wells Fargo numbers in the "Backdoor Numbers" sticky on Friday or Monday and see if they need anything from you to reach their decision.  Right now, it sounds like a definite maybe.

 

Worst case scenario, if you're denied, maybe you could see if you can settle on your CO for the $450 you have put aside for the secured CC?


Start: 619 (Wally, 9/2013) | Current: 735 (Wally, 7/6/15)
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Senior Contributor
Posts: 3,919
Registered: ‎10-02-2012
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Re: Really, really, really worried.

Yes I work night shift as a receptionist at a hotel. Are you currenlty banking with WF? Ive noticed that WF appreciates banking relationship.


(EQ FICO ---) (EX FICO ---) (TU FICO ---) Gardening Since 07/15/15 For All 3 Credit Bureaus
(EQ Inquiries --) (EX inquiries --) (TU Inquiries --) All of my 3 Credit Cards are Secured with a $300 Credit Limit.
Established Contributor
Posts: 653
Registered: ‎10-01-2013
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Re: Really, really, really worried.

Yes, I have a checking and savings with them for a few months now. I plan on dropping the savings with them soon (shhh), as I opened a High Yield (still a joke apy) savings account with American Express. 

 

Thing is, the application said we need to verify some information, but it didn't really say what information needed to be verified. 

 

Kinda sucks about having to wait for it by mail. I was actually planning on using it sooner for xmas shopping. I guess they don't have instant credit cards like they do the debit card. 

 

Farm and Fleet $3,000 (AU) Paypal Extras MC $1,500
Barclay's Apple Visa $1,200 QVC Qcard $800
Amazon Store Card $600 Discover $500
Walmart MC $400 Victoria's Secret $350
Credit One $300 Fingerhut $200
TU Fico 626



Senior Contributor
Posts: 3,919
Registered: ‎10-02-2012
0

Re: Really, really, really worried.

They do have instant approvals but it all depends on your file if they see something that needs a look then they will hold your app but that doesnt mean a denial, my sister applied for VISA Platinum and got the same message yet she got approved with a $1k CL 4 days later. She also banks with them.


(EQ FICO ---) (EX FICO ---) (TU FICO ---) Gardening Since 07/15/15 For All 3 Credit Bureaus
(EQ Inquiries --) (EX inquiries --) (TU Inquiries --) All of my 3 Credit Cards are Secured with a $300 Credit Limit.
Senior Contributor
Posts: 3,919
Registered: ‎10-02-2012
0

Re: Really, really, really worried.

Try what SunRiseEarth said call the back door number


(EQ FICO ---) (EX FICO ---) (TU FICO ---) Gardening Since 07/15/15 For All 3 Credit Bureaus
(EQ Inquiries --) (EX inquiries --) (TU Inquiries --) All of my 3 Credit Cards are Secured with a $300 Credit Limit.
Super Contributor
Posts: 7,132
Registered: ‎02-27-2013
0

Re: Really, really, really worried.

Try calling or heading into the branch that you usually go to. The bankers might be able to help you get an answer right away.

You can also try calling the back door number, but Wells Fargo underwriters sometimes aren't really that willing to help or disclose anything over the phone.

It may just be an ID verification issue, or that they need to verify your deposit funds. Don't worry too much about it.

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