topic Re: Dillards. CLI Request. Underwriter called right back. OMG! in Credit Card Approvals

Dillards. CLI Request. Underwriter called right back. OMG!

Anonymous — Thu, 14 Apr 2016 03:15:01 GMT

Goodness knows how I got initial credit limit of 1600 with my then TU score, but I did. Used plenty and 5 months out of 6 PIF. Wells Fargo can be so conservative on intitial creitit limit, let alone for CLI.

Data points for breaking the barrier...I was not anywhere near 700 (659 TU) when I applied for Dillards and shocked when I was approved for the Amex version. 7th statement has not cut and got ansy to see about the "conservative lender" and did the dreaded call for CLI. Asked for 5K total. Rep Rafael was so kind, but let me know I had to call back in 15 minutes after many questions. Ok no prob.

GASP...the real deal underwriting dept calls me back with LOTS of questions not two minutes later. I am so kicking myself for ever thinking this was a good idea. Can't even blame it on drunken apping. OMG. Bob informs me of a new account ..is just reporting.. just 3 days ago with Cap for a Venture. (10K limit) Yes..I know I just got that card, he further lets me know I have many new accounts in the last several months...yes I agree again. I tell him I can't have over 10% utilization showing on any of my cards and I just can't shop at Dillards with my AMEX unless they increase me and there is a HUGE sale I need to get in on. I convince him to call me back after I unfreeze my TU. I get a lil chided as they don't call back...customer calls back in 15 minutes for decision. Convince Bob he has no idea how hard it is to get thru, can you please just call me back after your review? He finally agrees..OMG...again... what was I thinking??

Lowest ever reported score on Creditboards for Dillards Amex rings in at 3 more minutes later...many queries on income...home...etc...I finally blurt...I always usually pay off in PIF...my reporting last month on debt was zero...it actually lowered my score a great deal...he said we generally only allow 1K increments. I said I can't shop your sales at Dillards with that limit. I am sorry, that just won;t work. He said...you have great payment history and some high cards, can you settle for 4700 for a credit limit. Said I said I am so shopping that sale tomorrow. Thanks Bob, you are awesome. Rocks. Happy Skiipy..you have been sooo helpful.

Keep convincing the conservative lenders...sometimes it will pay off. Score on TU today...736..but tons of new accounts in last year and train load of inquires. Best of luck on your Dillards CLI..Never doing that again...well not until Nov. LOL.

Re: Dillards. CLI Request. Underwriter called right back. OMG!

KSK1912 — Thu, 14 Apr 2016 03:43:15 GMT

OP Congrats on an awesome cli from a lender like WF.

It is very interesting, because that card was one of my first cards when i started rebuilding, and i apped trusting the relation i have with WF, so that in case of a denial, i could throw it in their face. First app denial, no go on the recon, couple month later, score gets a little better, baddies fall off, and retyr..! OMG, instant approval for $2K. Called WF right away, and ask for cli to 5K, and tell them to check my accounts with them. Same thing, i call back in 15 mins, and they counter offer $4K and i gladly took it. 2 months of heavy use and pif, call them back for cli, ask for $5K again, and they countered $4700. So that $4700 must be some kind of a tresh hold or something. My question to OP, do your payments also take forever and ever to post to your "Available Credit" ? I have seen my payments posting to my Balance fairly quick (but stilll slower than most other cards i have) but for that payment to be available to me to use, it has taken as long as 3 weeks. And the funny part is the payments are also coming from a WF checking account. So that card is also being paid off soon and going in to SD.

Re: Dillards. CLI Request. Underwriter called right back. OMG!

Anonymous — Thu, 14 Apr 2016 03:58:09 GMT

Interesting comment on that threshold of 4700...it was like pulling teeth to get.

Perhaps we have discovered some valued info for others in regards to Wells Fargo. Sharing is caring on myfico

My payments posting have been rapid fast and out of the norm...I bank at with Chase and have for several years. My relationship is with Chase and have 4 CC with them. Breaking into WF with this card was a milestone for sure. I make several payments per month and they usually post within a couple days. I actually had expected the opposite because I don't bank with WF.

On side note...the only faster postings I have on credit card payments would be my Cabelas and wait for it....my BBVA...they have been rapid fast...sometimes a day later...In the past I used to think Cap1 was quick...Cabelas and BBVA Compass take the cake. One could argue that maybe Chase is sending it rapid fast. Whatever the case...I am well pleased with multiple payments posting so quickly.

Wells Fargo was all pro, conservative, followed their norm of asking all the tough questions...a milestone an underwriter deemed me fit for that odd 4700 limit. Jazzed and likely openng a savings account to see how that pans out. Thanks for the great info...much appreciated!

Re: Dillards. CLI Request. Underwriter called right back. OMG!

someg33k — Thu, 14 Apr 2016 05:39:50 GMT

Congrats OP!

I could feel the pain of that process just reading your post. What a PITA!

Good job though!

Re: Dillards. CLI Request. Underwriter called right back. OMG!

KSK1912 — Thu, 14 Apr 2016 06:47:26 GMT

@Anonymous wrote:
Interesting comment on that threshold of 4700...it was like pulling teeth to get.

Perhaps we have discovered some valued info for others in regards to Wells Fargo. Sharing is caring on myfico

My payments posting have been rapid fast and out of the norm...I bank at with Chase and have for several years. My relationship is with Chase and have 4 CC with them. Breaking into WF with this card was a milestone for sure. I make several payments per month and they usually post within a couple days. I actually had expected the opposite because I don't bank with WF.

On side note...the only faster postings I have on credit card payments would be my Cabelas and wait for it....my BBVA...they have been rapid fast...sometimes a day later...In the past I used to think Cap1 was quick...Cabelas and BBVA Compass take the cake. One could argue that maybe Chase is sending it rapid fast. Whatever the case...I am well pleased with multiple payments posting so quickly.

Wells Fargo was all pro, conservative, followed their norm of asking all the tough questions...a milestone an underwriter deemed me fit for that odd 4700 limit. Jazzed and likely openng a savings account to see how that pans out. Thanks for the great info...much appreciated!

yes really. Because i would not be able to explain otherwise why would a lender give a newbie $2K SL, then take it up to $4K same day, and then give them another $700, but not make it $5K even.

Re: Dillards. CLI Request. Underwriter called right back. OMG!

Anonymous — Thu, 14 Apr 2016 09:36:04 GMT

I was initially excited about Dillards Amex I opened in Oct. but it has turned out to be such a disappointment. I can't get with Wells Fargo, it takes them forever to post a payment to my account and don't pay more than once in a given cycle, it literally took them 3 weeks to post the second payment. They are very very conservative and I really don't see any benefits to keeping them. They are so slow and stingy on CLI. So they are on my chopping block in June after I rid myself of the remaining Comenity accounts, lol!

Re: Dillards. CLI Request. Underwriter called right back. OMG!

KSK1912 — Thu, 14 Apr 2016 13:26:34 GMT

@Anonymous wrote:
I was initially excited about Dillards Amex I opened in Oct. but it has turned out to be such a disappointment. I can't get with Wells Fargo, it takes them forever to post a payment to my account and don't pay more than once in a given cycle, it literally took them 3 weeks to post the second payment. They are very very conservative and I really don't see any benefits to keeping them. They are so slow and stingy on CLI. So they are on my chopping block in June after I rid myself of the remaining Comenity accounts, lol!

ROse i know, i was surised to see this happen too. I called them several times, and everytime i had a different excuse for the payments posting too late. One was because the account was new, then it was because i made too many payments in a short time, then i started making bigger payments, then the excuse was because the payment amount is big. This card was a huge success for me, during my rebuild process, but i have lost all my interest in it, and especially getting better cards now. I was excited only because it was an Amex card
I don't know what it is about all rebuilder and their Amex obsession including me But i thought, hey if i can't get an Amex, this is as close as i can get to it Now i have 4 Amex cards. This card is in the SD, i will not close it because it is my highest limit of cc's at $4700 but i will pay it off and leave it in the sd. I dont care much about the 10% discount, but would definitely use for some great deals Dillard's seems to have occasionally. With 2 girls 2 and 6, it does come handy

Re: Dillards. CLI Request. Underwriter called right back. OMG!

Anonymous — Thu, 14 Apr 2016 14:53:55 GMT

@KSK1912 wrote:
@Anonymous wrote:
I was initially excited about Dillards Amex I opened in Oct. but it has turned out to be such a disappointment. I can't get with Wells Fargo, it takes them forever to post a payment to my account and don't pay more than once in a given cycle, it literally took them 3 weeks to post the second payment. They are very very conservative and I really don't see any benefits to keeping them. They are so slow and stingy on CLI. So they are on my chopping block in June after I rid myself of the remaining Comenity accounts, lol!
ROse i know, i was surised to see this happen too. I called them several times, and everytime i had a different excuse for the payments posting too late. One was because the account was new, then it was because i made too many payments in a short time, then i started making bigger payments, then the excuse was because the payment amount is big. This card was a huge success for me, during my rebuild process, but i have lost all my interest in it, and especially getting better cards now. I was excited only because it was an Amex card
I don't know what it is about all rebuilder and their Amex obsession including me But i thought, hey if i can't get an Amex, this is as close as i can get to it Now i have 4 Amex cards. This card is in the SD, i will not close it because it is my highest limit of cc's at $4700 but i will pay it off and leave it in the sd. I dont care much about the 10% discount, but would definitely use for some great deals Dillard's seems to have occasionally. With 2 girls 2 and 6, it does come handy

KSK1912. I remember we got our cards around the same time. Wells Fargo is a strange bird....and while I was excited initially, they have proved time and time again a disappointment. After months of usage and PIF, I requested a CLI and it was a NO!!, I was shocked, my scores definitely 25 points higher then when I opened it and given the type of usage, at least 4K within a few months. I decided that I will NEVER ask them for a increase and will probably close it by June. I only have a few more Comenity cards to close and then Dillards. We have choices just as lenders do. But you know I get calls and mailings from Wells Fargo to explore their bank and products..Hell to the NO! Lol