Wells Fargo Propel Amex Cards

[Anonymous]

I know Wells Fargo cards are not discussed much on these froums, but I was wondering if anyone has a general idea of what their criteria for approval for their propel series of amex cards is. From what I have read WF takes existing banking relationships into account heavily, and is also conservative in their underwriting compared to other issuers.

I specifically would like to apply for the propel world card due to the higher sign up bonus and $100 airline fee credit, then downgrade to the recently introduced no annual fee propel card (I have seen reports of people downgrading from the $175 annual fee world card to the $45 fee 365 card, so I'm guessing the downgrade to the new no fee one is possible). I have had a WF checking and savings account since 2011 and recently upgraded my checking account to their PMA account which would entitle me to a 25% bonus on all points earned, another reason I would like the card.

My current profile is as follows:

Wells Fargo College Card: 10/2014, $2000 limit, joint account with mom

Delta Gold Amex: 4/2015, $5000 limit

Chase Freedom: 11/2015, $4000 limit

EX FICO according to Amex is 747, utilization less than 10% on all cards, no late payments or negatives of any kind. I am also an AU on a couple of my parent's cards. Was denied for a Citi Double Cash in September 2015 due to not enough credit history, so I have a total of four inquiries on my EX report and none on EQ or TU.

Also, any thoughts on whether or not my current WF college card would help or hurt me? I suppose it helps in the fact that I have a perfect payment history with WF on one of their own cards, but could hurt in terms of total credit exposure, WF may not be willing to extend me any credit in addition to the $2000 I currently have, but the account is a joint account so I'm sure that further complicates things. It originially started with a limit of $1200 and I received an SP CLI of $800 in August 2015 to bring it to it's current limit of $2000.

I would say the biggest thing against me is my short history and average age of accounts, according to my calculation is it 9 months, also I am 19 years old, unsure of the affect of age is on an applications but I suppose the CARD act could bring in some implications.

[Anonymous]

I was just Approved for the Propel 365 card back on 01/20. My CS at the was 726 on Transunion also I have been their checking account customer for 1 year now so I will say that history with them is a big plus with being approved for one of their cards. my average age of accounts is 1 year and 1 month. and my oldest account is 5 years. Hope it helps

[Anonymous]

Thanks for your info, was it an instant approval? 1 year 1 month average age of accounts is close to mine, maybe I'll wait for my accounts to age enough to get mine up to one year.

[thummel]

I applied for a Wells Fargo rewards card at 20 years old last summer in the bank. I kept getting offers for the student card but I decided to go for the rewards one instead. They pulled exp for me when my score was at a 752 and I was instantly approved for 10K. I have been banking with them since 2012 and have a perfect record with them. I would say go for it to be honest. I got 10K on a 30K income by the way in case you needed to know.

[thummel]

I should also add I had about the same average age of accounts, but I had around 3 or 4 fresh inquires on my exp. that might help you get some insight.

[Anonymous]

Yes it was an instant approval after Identity verification over the phone with a nice lady. and was a 10K SL if that info helps, I think history will help you a lot and I'd say go for it or maybe wait until you're over the 1 year average age of accounts just to be safe and get an approval. Good luck!

[Anonymous]

It's a great card to have if you use it for almost all of your spend. there are other great cards by centurion amex and chase that have less high criteria to score so those are the ones that are talk about the most for good reason. Wells Fargo doesn't have a lot of rewards for mid level or entry-level cards that is the problem

[Anonymous]

I had a pretty much open invitation to get one early this year, but got out of Wells Fargo to get chase for their sign up bonus. Now have way too many inquiries and new accounts to even try maybe next year

[Anonymous]

Thanks, your situation is very similar to mine. I think I'll wait for statements to close of my Amex and Chase cards so I've got an extra two on time payments, can't hurt my chances.

[Anonymous]

Well I bit the bullet and applied for the propel world, went pending. Probably gonna wait a couple days to call maybe it will just go through by itself. Now I'm wondering if the requirements are different for the different versions of the card (the no fee version, the 365, and the world) and if I should be kicking myself for trying to get the highest level one.