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Posts: 2,387
Registered: ‎01-22-2012
Re: Denied Wells Fargo Student Card -- Insufficient History with Bank!?
[ Edited ]

dhon55 wrote:

I just signed up, thanks.


Avg. age 2 yrs, 1 month, oldest 2 yrs & 11 months.  Total accounts: 8.  (All federal student loans).  1 hard inquiry from Cap1.  (Not sure if/from where WF pulled)  Fako Transrisk of 654.


I'm on an AU on any card, and never have been.  If necessary, I'll ask my parents if they can add me.  I'm 21 now, not sure if it matters.  I just hope they remember to pay it off and not keep a balance (You never know! Smiley Frustrated)  or that they didn't have a derogatory mark on the account in the past.  I know if it affects my report and it's not mine I can get it removed--but is that an arduous process?


I feel desperate right now with two failed inquiries in a row--I'd hate to keep applying, but need to start somewhere, and soon!  I've heard about SDFCU's secured card, but not sure how they feel about students with no history and low income.  Maybe I should try other credit unions out there?  But again, I'm not sure if I have a shot with my standing and hate to keep applying.

The fact that you have so many student loans with very little income might also have something to do with it. They might not tell you this outright, but I have seen many people denied officially for other reasons, but in reality it is due to having too much debt.


Your income may also be holding you back, even if WF lists $3,000 as the official minimum. If you charged every single dollar you earned on that card (which is unlikely), you'd be pushing $250 a month through them. In their eyes, it may not be enough to be worth their time. 


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