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Wells Fargo Cash Back Visa Approval Delayed.

Established Member

Wells Fargo Cash Back Visa Approval Delayed.

 

 

I applied for a Well Fargo Cash Rewards Visa today over the phone but instead of the instant approval I expected, I was give a 7-10 business days. They told me I could call back after 4 days to find out the status of my app. The scores in my sig are correct and I have no reason to believe EX would vary widely, but I don't yet know who they pulled. I have a 13 year history with absolutely no negatives at all and a 6% utilization that's a result of bad timing as I pay them off at the end of each month. I have 5 cards listed below, but I pointed out to them what my intent was to replace my BofA with theirs ( hence, why I called instead of doing it online ). Any one have any experience applying with them ?

 

Thanks,

 

Flapjack

 

Card:                                         Opened: Limit:

Capital One Platinum MC    2/2002   $6000
BOA Visa Signature              3/2002    $7800
Amex Blue Cash                   3/2011    $4400
Chase Rewards Visa          11/2007  $6800
Citi Dividend MC                     3/2011  $7500

EX: 785 EQ: 759 TU: 760 (9/14 via MyFico)
Message 1 of 10
9 REPLIES
Valued Contributor

Re: Wells Fargo Cash Back Visa Approval Delayed.

Wow is all I can say.  Borderline 800 and they give 7-10 day response?!?!?! What else could they possibly want?!

Message 2 of 10
Frequent Contributor

Re: Wells Fargo Cash Back Visa Approval Delayed.

Maybe they just want to verify your identity or something like that. With your scores and credit history, I don't see how they could deny that.

EQ FICO - 718 - 01/10/2012 EX FICO - 732 - 04/28/2012 (AMEX)

Cap1 Platinum (1000) Macy’s (2000) Chase Freedom (3000) Kohls (600) Best Buy (2700) Amex BCE (8200) Chase Sapphire (5000) CarCare1 (1600) Discover IT (4000)
Message 3 of 10
Established Member

Re: Wells Fargo Cash Back Visa Approval Delayed.


boomhower wrote:

Wow is all I can say.  Borderline 800 and they give 7-10 day response?!?!?! What else could they possibly want?!


Thanks. That's how I felt. I had just got off the phone with BofA regarding their Visa. I got the letter last year attempting to impose an annual fee. They fixed it but told me to call back this year. This time they insisted the fee would be required unless I applied for another card. Rather than get a hard inq with them, I called Wells hoping to use their card to replace it. Needless to say, I was even more upset when they gave me the 7/10. 

EX: 785 EQ: 759 TU: 760 (9/14 via MyFico)
Message 4 of 10
Established Contributor

Re: Wells Fargo Cash Back Visa Approval Delayed.

I find it pretty amazing that you were not instantly approved, it seems it must be some sort of identity verification will be needed....

FICOs (2/24/12): EX 752, EQ 740
Chase Sapphire Preferred, Freedom; American Express PR Gold, Blue Cash Everyday
Message 5 of 10
Super Contributor

Re: Wells Fargo Cash Back Visa Approval Delayed.


Koop10010 wrote:

I find it pretty amazing that you were not instantly approved, it seems it must be some sort of identity verification will be needed....


I find it amazing why anyone why such a high score with so many options would opt for a Wells Fargo card.

 

This is of course not to denigrate the fine institution, but merely my view on how utterly lacking the rewards are for using their card.

Message 6 of 10
Frequent Contributor

Re: Wells Fargo Cash Back Visa Approval Delayed.


flapjack wrote:

 

 

I applied for a Well Fargo Cash Rewards Visa today over the phone but instead of the instant approval I expected, I was give a 7-10 business days. They told me I could call back after 4 days to find out the status of my app. The scores in my sig are correct and I have no reason to believe EX would vary widely, but I don't yet know who they pulled. I have a 13 year history with absolutely no negatives at all and a 6% utilization that's a result of bad timing as I pay them off at the end of each month. I have 5 cards listed below, but I pointed out to them what my intent was to replace my BofA with theirs ( hence, why I called instead of doing it online ). Any one have any experience applying with them ?

 

Thanks,

 

Flapjack

 

Card:                                         Opened: Limit:

Capital One Platinum MC    2/2002   $6000
BOA Visa Signature              3/2002    $7800
Amex Blue Cash                   3/2011    $4400
Chase Rewards Visa          11/2007  $6800
Citi Dividend MC                     3/2011  $7500


Preface: I have multiple reasons to avoid WF like the plague. 

 

I'd consider this a blessing. If they decline you; you dodged a bullet (IMO).

TU98 751, EQ 766, EX 766 (Lender)

If at first you don't succeed; Garden for 6 months, then try again.

Work the system. Don't let the system work you.
Message 7 of 10
Regular Contributor

Re: Wells Fargo Cash Back Visa Approval Delayed.

Hey, same thing happened to me, got the 7-10 day message, 3 days later i called the automated system to check status and was approved with a decent cl too. My scores arent anywhere near yours and im surprised you werent instanly approved, but it might just need to be manually reviewed like mine.  Youll probably get approved

 

Good luck to you


Starting Score: TU 608, Eq 618
Current Score: TU 797 Eq 792, Ex 805 (psecu)
Goal Score: 840 across the board


Take the FICO Fitness Challenge
Message 8 of 10
Valued Member

Re: Wells Fargo Cash Back Visa Approval Delayed.

That happening may be a good sign, as in getting a high credit limit, sometime when ur giving a high credit limit, they will double check to make sure, ur not a fraud or something.

Message 9 of 10
Established Contributor

Re: Wells Fargo Cash Back Visa Approval Delayed.

Same thing happened to me awhile back. I had mid to high 700's as i recall. I called them and they asked a couple questions relating to my income, then approved with no issues. I am retired and all of my income is tax free from a long term policy i have.
Message 10 of 10