topic Re: Befuddled by Wells Fargo in Credit Card Approvals

Befuddled by Wells Fargo

Anonymous — Fri, 04 Aug 2017 12:45:21 GMT

I've had a Wells Fargo credit card for 4 years. I think it's a VISA but I am not carrying it at the moment so I can't say for sure. At any rate, it's a weird rewards card that gives 1% back on purchases toward the mortgage loan. Been at $1000 limit from day one. I called for a CLI about a month ago, eventually got a denial with a laundry list of reasons, none of which seemed to have anything to do with reality: I felt like they picked reasons at random.

I've been irritated by the whole situation and threw it in the drawer. I was just going to let it sit, use it two or three times a year to keep it "alive".

Yesterday a piece of mail came from Wells Fargo, in a window envelope. They gave me an $800 CLI, out of the blue. I can't fathom what changed in the past month, but I surely didn't call for a recon. I'm always happy for a CLI, but the way it came together seems strange. On a side note, the actual notice in the envelope was in black ink, on thin copier paper. I wonder how much more it would cost the bank to use real letterhead or at least something with multiple colors of ink on it. To me, it's a piece of good news, why not add a little visual fluff to it?

Re: Befuddled by Wells Fargo

Anonymous — Fri, 04 Aug 2017 13:00:26 GMT

Congratulations on your cli. I agree that the circumstances do seem a little odd, though.

On a side note, I'm not sure I've ever heard/seen/read anyone use 'befuddled ' before; at least outside of literary use. For some reason, it just tickled me and gave me a good chuckle. Thanks for that.

Re: Befuddled by Wells Fargo

Anonymous — Fri, 04 Aug 2017 13:12:30 GMT

Thanks kjohn 1!

Re: Befuddled by Wells Fargo

Erusidhion — Fri, 04 Aug 2017 14:23:29 GMT

I started with a $500 secured card through them I think in 2014, it was unsecured in 2015 at a $500 limit. It got a $100 CLI maybe 6 months after that and that's been it. I've tried for CLIs many times but they just won't budge. I'm probably closing my card at some point later this year. They're very conservative right now. Maybe they're still paying their fines or know a huge one is coming up. I really liked Wells Fargo personally but I don't have any banking relationship with them anymore besides that card.

Congrats though.

Re: Befuddled by Wells Fargo

AverageJoesCredit — Fri, 04 Aug 2017 14:26:50 GMT

Wells Fargo auto luv, is that an oxymoron? Congrats

Re: Befuddled by Wells Fargo

Sandman771 — Fri, 04 Aug 2017 14:27:17 GMT

Yeah I too was bemused by the use the word "befuddled." Who says verbosity is a lost art?

Re: Befuddled by Wells Fargo

CreditInspired — Fri, 04 Aug 2017 16:48:58 GMT

This is so funny. I also had not heard the word befuddled in eons and enjoyed the use of the word. However, I'm 60+; maybe that's why. How about you cincy, kjohn, and sandman?

Re: Befuddled by Wells Fargo

Anonymous — Fri, 04 Aug 2017 16:52:32 GMT

Sandman, as long as you weren't flummoxed or poleaxed by the original post, we're good-to-go.

Am I the only one who wishes bank correspondence was a little nicer? I get all sorts of shiny fancy CC offers, then once I'm a customer all I get is bland black ink on cheap white paper. Sheesh, dress it up a little, would ya?

Re: Befuddled by Wells Fargo

AverageJoesCredit — Fri, 04 Aug 2017 16:52:54 GMT

I dont know about befuddled, but surely i am bemused

Re: Befuddled by Wells Fargo

Anonymous — Fri, 04 Aug 2017 16:54:04 GMT

I'm not in my 60s yet, thankfully, but I am an AARP member.

Re: Befuddled by Wells Fargo

DeeBee78 — Fri, 04 Aug 2017 19:55:19 GMT

@Erusidhion wrote:

I started with a $500 secured card through them I think in 2014, it was unsecured in 2015 at a $500 limit. It got a $100 CLI maybe 6 months after that and that's been it. I've tried for CLIs many times but they just won't budge. I'm probably closing my card at some point later this year. They're very conservative right now. Maybe they're still paying their fines or know a huge one is coming up. I really liked Wells Fargo personally but I don't have any banking relationship with them anymore besides that card.

Congrats though.

I can second this. They are being super-conservative with their lending limits right now, and even at decent credit tiers, we're not getting much out of them.

I got the CashWise Visa back in March, with a TU score around 720-ish. They gave me a $2k starting limit. I've been using it a fair amount at Costco, and have ran the balance up as high as $1750 before paying it down to $0. I'm hoping to see an auto-cli out of them before the one year mark, then a really decent customer-initiated CLI after that (you can't request one online until your account is 12 months old).

Re: Befuddled by Wells Fargo

Sandman771 — Fri, 04 Aug 2017 20:09:21 GMT

@CreditInspired wrote:
This is so funny. I also had not heard the word befuddled in eons and enjoyed the use of the word. However, I'm 60+; maybe that's why. How about you cincy, kjohn, and sandman?

Nah I'm only 47, but I read a lot and have stayed at a Holiday Inn Express before. No poleaxing for me. It may mess up my bespoke suit or just besmirch my good name.

Re: Befuddled by Wells Fargo

Anonymous — Sat, 05 Aug 2017 02:54:46 GMT

@CreditInspired wrote:
This is so funny. I also had not heard the word befuddled in eons and enjoyed the use of the word. However, I'm 60+; maybe that's why. How about you cincy, kjohn, and sandman?

You've got 20 or so years on me. I'm fairly certain that I've never actually heard anyone say it in real life, which saddens me. We've lost so much of our wonderful language over the last couple of decades. Authors (and readers) seem to have become of the only folks nowadays to really appreciate the English language. Fifty years from now, everyone will have the vocabulary and diction of a 6 year old...

Re: Befuddled by Wells Fargo

12njoy — Sat, 05 Aug 2017 00:47:09 GMT

@Anonymous wrote:
I've had a Wells Fargo credit card for 4 years. I think it's a VISA but I am not carrying it at the moment so I can't say for sure. At any rate, it's a weird rewards card that gives 1% back on purchases toward the mortgage loan. Been at $1000 limit from day one. I called for a CLI about a month ago, eventually got a denial with a laundry list of reasons, none of which seemed to have anything to do with reality: I felt like they picked reasons at random.

I've been irritated by the whole situation and threw it in the drawer. I was just going to let it sit, use it two or three times a year to keep it "alive".

Yesterday a piece of mail came from Wells Fargo, in a window envelope. They gave me an $800 CLI, out of the blue. I can't fathom what changed in the past month, but I surely didn't call for a recon. I'm always happy for a CLI, but the way it came together seems strange. On a side note, the actual notice in the envelope was in black ink, on thin copier paper. I wonder how much more it would cost the bank to use real letterhead or at least something with multiple colors of ink on it. To me, it's a piece of good news, why not add a little visual fluff to it?

sorry to hear on your original request, but congrats on the auto cli. WF is definitely being a lot more conservative, IMO. I started with a WF Visa back in 2015 with a $2,500 limit. Within a year, I grew to $40,000 by cli's and applying for another card and then consolidating the two cards. WF won't give me anymore of anything now.

Re: Befuddled by Wells Fargo

Anonymous — Sat, 05 Aug 2017 13:52:59 GMT

Well in reading this thread I found that someone was "tickled" about the post. Now that too is a word not often used anymore. Yes, I agree after reading this post that there s a loss of words that used to be used. Did not think about it until this post. As to the OP's actual topic I closed my secured card after two years and said adios to Wells Fargo and will not ever look back

Re: Befuddled by Wells Fargo

Anonymous — Sat, 05 Aug 2017 14:18:53 GMT

My highest my WF Visa stated life as a 1k secured card around 2010-11, graduated a little after the 1 year mark, auto cli to 1600 6-12mo after graduation, another auto cli around late 2014 early 2015 to 3500. Requested cli to 8k in June, declined with offer to 6600 which I accepted. The card & their generosity sucks but it's been my goto card since rebuilding