should I apply Wells Fargo Visa?

[SnowBowl]

Since last fall I have been approved for WM Card, Discover , Apple Visa Card and LensCrafters.. I do have auto loan thru Wells Fargo ( 4 years and 6 months payments history )  so I am just wondering if this would help increase likelyhood of approval despite of BK being 5 years old.. Credit Karma shows 5 years ontime payments.. no 30's or 60's marks or  chargeoffs. I am waiting for CRA to update my balances  on all accounts it should be under 10% UTIL by then..  awhile ago I think I posted about Citibank on here and I never heard anything from them so I assumed its rejected.  so Wells Fargo would be my next try..  I am just not sure if they are BK friendly at 5 years old.  suggestions? go for it?

[zeusta20]

No...they are not. It will be an instant decline. I work for WF...and I see it all the time where its declined just because of a BK. HOWEVER, if you have at least 300, you can get a secured card. But normally i'd recommend that if you didn't have any credit cards. But since you already do, its all up to you.

[enharu]

Wells Fargo is extremely conservative for their credit cards to the extent it's almost overly zealous IMO.

The best way for you to know about your odds is to drop by a branch and talk to a banker yourself. They usually are able to tell you about your odds pretty accurately, and if not they can always call the underwriting department and speak with them directly.

TBH though, there are other credit card companies that are BK friendly AND have better rewards than Wells Fargo. 

[indiolatino61]

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@enharu wrote:

Wells Fargo is extremely conservative for their credit cards to the extent it's almost overly zealous IMO.

The best way for you to know about your odds is to drop by a branch and talk to a banker yourself. They usually are able to tell you about your odds pretty accurately, and if not they can always call the underwriting department and speak with them directly.

TBH though, there are other credit card companies that are BK friendly AND have better rewards than Wells Fargo. 

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+1

[visorboy1974]

I have seen Wells softening a little with regard to approving with a BK on a credit report.  The successes I've seen though have been at the 7 year mark and higher.  

That said, it looks like you're past the secured card time period already so I wouldn't exactly recommend it unless you're really eager to further establish your relationship with them.  

You'll realize that a lot of creditors will eventually soften up between years 5 and 10.  For me, that creditor was Chase...I applied 6 years post BK (I burned them on a few cards and a car loan) and I was able to finance a car as well as get a Visa Siggy with them.   

[mnavas]

As many have said in the previous posts Wells Fargo is ultra conservative they won't approve you with major derogatories or BK showing up in your reports so do yourself a favor Don't apply for their cards if you don't want to waste a hard inquiry for nothing... Believe there are better credit cards than Wells.. They suck with their credit cards program...

[Chaos122]

I would skip wells fargo and go with something else.  They are very conservative as ppl mentioned and even if they approve you, it might not be for a good enough limit.

Ive had their card for almost 2 years and never a cli, they keep denying my requests- Either too high utilization (im at 7%), or theylle say not enough time with wells credit account (almos 2 years), or the newest one was (low recent balance in wells checking account) LOL Im done with these bufoons, Im with BOA now!

[GaTech]

I don't know if Wells Fargo is ultra conservative with their 1% mortgage credit card or their non-college credit cards, but my experience was quite please with them.

I was a college student back in 2011 with NO credit cards or installment loans. I was a customer with Wachovia until they were bought out by WF for 4 years and had a checking account with both banks.

I just had 3 direct deposit checks deposited over the course of 2 months, apped for their college credit card (1% cash back on everything) and BAM I was approved.
YMMV.

[dodgerslv]

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@Chaos122 wrote:

I would skip wells fargo and go with something else.  They are very conservative as ppl mentioned and even if they approve you, it might not be for a good enough limit.

Ive had their card for almost 2 years and never a cli, they keep denying my requests- Either too high utilization (im at 7%), or theylle say not enough time with wells credit account (almos 2 years), or the newest one was (low recent balance in wells checking account) LOL Im done with these bufoons, Im with BOA now!

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+1. I can agree they are very conservative. I had been banking with them for over 10 years with a personal account and 3 years with business account and after having a secured card with a 4000 limit over a year not only didnt my card graduate but when i applied for an unsecured one they declined my application because apparently i had to close my secured one first to only have them give me a 2000 limit on the unsecured one with a high APR.

[RyVision]

SnowBowl;

Don't burn a HP for an app with WF, you WILL get denied or at best a very low limit with a very high interest rate and on a card with almost no rewards.  There are too many better lenders to consider with better rewards.  Check "whogavemecredit . com" for info on WF.  Look at the possibility of an AMEX charge card on the same link, or even a revolver with them, they're still conservative but better than WF on approval and rewards (by far) but you'd have to wait a while for one of their revolvers I'm afraid.  You already have the one I would have recommended, Discover, so you're on the right path.