Wells Fargo Propel World American Express® Card app....

[Strogen]

Today I decided to apply for this since I needed new bonus spend to work on. 40k points with 3K spend. Not bad. 

I already have one WF card, its what ever the basic cash back one is. It has a 3K credit line. 

Now I do have at least 45 inqs on equi and at least 20 + on the other two and like 20 new accounts in the last year. I also have a spotless CR. 

They declined me for the new card as I thought they would, but I do know they can shut down one card and transfer its CL to the new one and you get the bonus spend offer. 

This is what she said when I asked her " well I would but it seems you are way over extended and I cant approve that" .

Me : " Well what the hell I already have the one card with the CL there is no new risk. no new credit. how then do you deny me?" 

Her: " Well I dont want to put my stamp of approval on it, let me get my boss and we'll look at it...." 

Are all Credit analyst this stupid? Same risk.... no new credit is given.... whats the issue? Might as well shut down my card if you cant transfer its CL because its "too risky".

IMO this is why I like Chase(40k extended), Cap One(25k extended) and BoA(25k extended). They dont play these games with me. WF is going to give me issues over a 3K line? 

She did of course hide behind "muh company policies"..... weird how they are not competitive with other major lenders. 

[thom02099]

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@Strogen wrote:

Today I decided to apply for this since I needed new bonus spend to work on. 40k points with 3K spend. Not bad. 

I already have one WF card, its what ever the basic cash back one is. It has a 3K credit line. 

Now I do have at least 45 inqs on equi and at least 20 + on the other two and like 20 new accounts in the last year. I also have a spotless CR. 

They declined me for the new card as I thought they would, but I do know they can shut down one card and transfer its CL to the new one and you get the bonus spend offer. 

This is what she said when I asked her " well I would but it seems you are way over extended and I cant approve that" .

Me : " Well what the hell I already have the one card with the CL there is no new risk. no new credit. how then do you deny me?" 

Her: " Well I dont want to put my stamp of approval on it, let me get my boss and we'll look at it...." 

Are all Credit analyst this stupid? Same risk.... no new credit is given.... what the issue? Might as well shut down my card if you cant transfer its CL because its "too risky".

IMO this is why I like Chase(40k extended), Cap One(25k extended) and BoA(25k extended). They dont play these games with me. WF is going to give me issues over a 3K line? 

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But you have to be approved for a new credit card (which you weren't) before you can transfer the CL from one card to another. 

If you're talking about a PC, that's a different situation and Wells Fargo won't do that with the cards involved.  I was in a similar situation, wanted to get the Propel 365 card, in place of a regular WF Visa card (the Home Rebate card), so asked if I could simply PC from one to the other.  The explanation I got was that, the Propel family of cards is on the AMEX network and it's a different product line from the WF Home Rebate Visa.  I had to apply for and get approved for the Propel 365, then request a CL transfer from the WF Home Rebate card to the Propel card, THEN close the Home Rebate card. 

Wells Fargo can be very inquiry sensitive.  The number of inquiries you have probably spooked them as well.

[Anonymous]

from what i read i would be more soft because at the end of the day they have the deciding power. 

[Strogen]

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@thom02099 wrote:

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@Strogen wrote:

Today I decided to apply for this since I needed new bonus spend to work on. 40k points with 3K spend. Not bad. 

I already have one WF card, its what ever the basic cash back one is. It has a 3K credit line. 

Now I do have at least 45 inqs on equi and at least 20 + on the other two and like 20 new accounts in the last year. I also have a spotless CR. 

They declined me for the new card as I thought they would, but I do know they can shut down one card and transfer its CL to the new one and you get the bonus spend offer. 

This is what she said when I asked her " well I would but it seems you are way over extended and I cant approve that" .

Me : " Well what the hell I already have the one card with the CL there is no new risk. no new credit. how then do you deny me?" 

Her: " Well I dont want to put my stamp of approval on it, let me get my boss and we'll look at it...." 

Are all Credit analyst this stupid? Same risk.... no new credit is given.... what the issue? Might as well shut down my card if you cant transfer its CL because its "too risky".

IMO this is why I like Chase(40k extended), Cap One(25k extended) and BoA(25k extended). They dont play these games with me. WF is going to give me issues over a 3K line? 

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But you have to be approved for a new credit card (which you weren't) before you can transfer the CL from one card to another. 

If you're talking about a PC, that's a different situation and Wells Fargo won't do that with the cards involved.  I was in a similar situation, wanted to get the Propel 365 card, in place of a regular WF Visa card (the Home Rebate card), so asked if I could simply PC from one to the other.  The explanation I got was that, the Propel family of cards is on the AMEX network and it's a different product line from the WF Home Rebate Visa.  I had to apply for and get approved for the Propel 365, then request a CL transfer from the WF Home Rebate card to the Propel card, THEN close the Home Rebate card. 

Wells Fargo can be very inquiry sensitive.  The number of inquiries you have probably spooked them as well.

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Weird thing is, they gave me this current visa in Feb 2015. Believe me my report had maybe 10% less inqs on it then and maybe 20 less credit reporting. 

She didnt give me a logical explanation and I dont like that. Ever. I may need to be "approved" for the new card but the risk stays the same and she acknowledged that. 

She didnt feel comfortable with it or some crap and wanted managerial approval. Please, your 3k is nothing out of my 150K. 2%. 

To me, if the risk is the same it shouldn't be a problem. Same amount of credit, no real argument can ever be made in my mind. 

I would apply for another Chase card but im done poking them for at least a year. They have been more than generous with me. Same for BoA and cap one. 

I need bonus spend! 

[longtimelurker]

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@Strogen wrote:

Today I decided to apply for this since I needed new bonus spend to work on. 40k points with 3K spend. Not bad. 

I already have one WF card, its what ever the basic cash back one is. It has a 3K credit line. 

Now I do have at least 45 inqs on equi and at least 20 + on the other two and like 20 new accounts in the last year. I also have a spotless CR. 

They declined me for the new card as I thought they would, but I do know they can shut down one card and transfer its CL to the new one and you get the bonus spend offer. 

This is what she said when I asked her " well I would but it seems you are way over extended and I cant approve that" .

Me : " Well what the hell I already have the one card with the CL there is no new risk. no new credit. how then do you deny me?" 

Her: " Well I dont want to put my stamp of approval on it, let me get my boss and we'll look at it...." 

Are all Credit analyst this stupid? Same risk.... no new credit is given.... whats the issue? Might as well shut down my card if you cant transfer its CL because its "too risky".

IMO this is why I like Chase(40k extended), Cap One(25k extended) and BoA(25k extended). They dont play these games with me. WF is going to give me issues over a 3K line? 

She did of course hide behind "muh company policies"..... weird how they are not competitive with other major lenders. 

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I can understand the reasoning, don't think it makes her stupid at all;

1) As she said, she has to approve the new card.  So in WF records, Ms X approved a new card (and I presume she didn't approve the original!), and if you default, she gets some blame

2) Perhaps,if you were applying for the first card now, you wouldn't get it, or get the same CL, if you now appear over-extended.   So in the worst case this could have caused a review leading to AA on your existing card.

ETA: Saw that the first card was recent, so 2) may apply less.

[Strogen]

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@Anonymous wrote:

from what i read i would be more soft because at the end of the day they have the deciding power. 

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Yes, I was very respectful till she started spouting illogical garbage. I dont need them anyway and ill let them know as much if I have to. 

Just very frustrating when it seems like they are contradicting themselves. 

[Strogen]

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@longtimelurker wrote:

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@Strogen wrote:

Today I decided to apply for this since I needed new bonus spend to work on. 40k points with 3K spend. Not bad. 

I already have one WF card, its what ever the basic cash back one is. It has a 3K credit line. 

Now I do have at least 45 inqs on equi and at least 20 + on the other two and like 20 new accounts in the last year. I also have a spotless CR. 

They declined me for the new card as I thought they would, but I do know they can shut down one card and transfer its CL to the new one and you get the bonus spend offer. 

This is what she said when I asked her " well I would but it seems you are way over extended and I cant approve that" .

Me : " Well what the hell I already have the one card with the CL there is no new risk. no new credit. how then do you deny me?" 

Her: " Well I dont want to put my stamp of approval on it, let me get my boss and we'll look at it...." 

Are all Credit analyst this stupid? Same risk.... no new credit is given.... whats the issue? Might as well shut down my card if you cant transfer its CL because its "too risky".

IMO this is why I like Chase(40k extended), Cap One(25k extended) and BoA(25k extended). They dont play these games with me. WF is going to give me issues over a 3K line? 

She did of course hide behind "muh company policies"..... weird how they are not competitive with other major lenders. 

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I can understand the reasoning, don't think it makes her stupid at all;

1) As she said, she has to approve the new card.  So in WF records, Ms X approved a new card (and I presume she didn't approve the original!), and if you default, she gets some blame

2) Perhaps,if you were applying for the first card now, you wouldn't get it, or get the same CL, if you now appear over-extended.   So in the worst case this could have caused a review leading to AA on your existing card.

ETA: Saw that the first card was recent, so 2) may apply less.

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I understand her reasoning but the risk stays the same, anyone could see that. I have no derogs and have a spotless report. 5 years of solid history ought to matter with regards to default fears but I guess not. Hopefully her manager can help me out. I really only want bonus spend. 

I wouldnt care if they closed my card, it would just make them look bad at this point. I swear, if I was a credit analyst and I came across reports similar to mine I would go ahead and help those people out because I know they want that bonus spend. 

[Anonymous]

Try having a 1k card for five years with Wells Fargo, along with having a banking relationship and mortgage with them. spotless cc, score almost into the 800s and my hardly any inquires. They are conservative.

[Strogen]

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@Anonymous wrote:
Try having a1k card for five years with Wells Fargo, along with having a banking relationship and mortgage with them. spotless cc, score almost into the800s and my hardly any inquires. They are conservative.

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I guess they are.  The manager or whomever denied me as well but we all know that was screwed in the first place. 

I just dont get how they say the risk is "too much" and this is the official word from the manager(s). 

What the hell just shut my original credit card down then you freaking idiots. Im done with WF forever now thanks to absurd logic on their part. 

ill keep the card open only to use in conjunction with my WF bank account as backup funding.

[Anonymous]

They suck.  They've had my business and money market account for years and they turned me down for too many inquiries. I only had 3 on TU and 2 on the others. They are ultra conservative and sesnsitive. 

I am loving Chade and of course I do like my personal account and cash rewards card (partially secured) from BoA