topic Re: Wells Fargo Propel application Denial, then Approval DPs in Credit Card Approvals

Wells Fargo Propel application Denial, then Approval DPs

Anonymous — Tue, 06 Apr 2021 12:34:30 GMT

Greetings ya'll. I just wanted to share this story and associated DPs on how I got approved for the Wells Fargo Propel card.

I initially applied for the card in August. My WF Fico (EX) score was 747. I had a decently long (7+ years) banking experience with WF and had three accounts, to include one credit card account. I had 4 inquiries on my credit report for the previous 24 months and just one for the previous 12 months. I had 1 or 3 new accounts in the past 6 months, depending on how you calculate it. If you calculate down to the day, then I had 1 accounts (credit card) that was less than 6 months old. If you calculate just by month, then I had 3. Perfect WF payment record and no late payments in the previous 2.5 years. Income is about $80k a year.

My app initially showed as "pending." I called customer service for info and they said that my app was denied due to too many accounts int he last 6 months. The rep sounded very surprised when reading out the denial and the reason, given my history with WF and my score. They offered to send it to be reviewed, and it was. It was declined again by the underwriter, citing the same reason.

So I waited 8 months and placed another application. This time, my score was 742 and I had 1 new account in the previous 6 months + 2/5 inquiries in the past 12/24 months. This time, I was approved for $3,000 instantly. So it looks like WF really harps on recent account openings as even my history with them and decent score wasn't enough for them to grant an approval. Also, talk about stingy! I know that WF doesn't give out high credit limits often but my 7 year old WF credit card only has a $3,000 limit and has been that way for at least 5 years or so. This is compared to my Chase and AMEX cards that have $20k+ limits. Not complaining as I am just happy I got it, but sheesh!

Hope this DPs help Best of luck with your apps.

Re: Wells Fargo Propel application Denial, then Approval DPs

KatSoDak — Tue, 06 Apr 2021 12:44:05 GMT

Nice job figuring out how to maneuver WF approvals! Currently they seem to be on a $1500 CLI every six months so mark your calendar to call them in October.

Re: Wells Fargo Propel application Denial, then Approval DPs

CreditAggie — Tue, 06 Apr 2021 13:01:13 GMT

Congratulations on your Wells Fargo Propel approval!

Re: Wells Fargo Propel application Denial, then Approval DPs

M_Smart007 — Tue, 06 Apr 2021 14:34:28 GMT

Congratulations on your Propel approval! ...If the rumor is correct about them cutting off new applicants?,

Then you got it in the nick of time .. It's a decent card for no AF.

Re: Wells Fargo Propel application Denial, then Approval DPs

AllZero — Tue, 06 Apr 2021 15:02:26 GMT

Congratulations on your approval! Thank you for sharing the data points.

Re: Wells Fargo Propel application Denial, then Approval DPs

gdale6 — Tue, 06 Apr 2021 15:09:37 GMT

Grats on getting in the WF credit door

Re: Wells Fargo Propel application Denial, then Approval DPs

SEAlifer — Sat, 29 May 2021 06:30:57 GMT

Re: Wells Fargo Propel application Denial, then Approval DPs

cashorcharge — Tue, 06 Apr 2021 17:07:05 GMT

That's terrific! Congratulations on your approval!! 🎉🥂

Re: Wells Fargo Propel application Denial, then Approval DPs

Anonymous — Wed, 07 Apr 2021 15:10:11 GMT

@KatSoDak wrote:
Nice job figuring out how to maneuver WF approvals! Currently they seem to be on a $1500 CLI every six months so mark your calendar to call them in October.

Oo, is that so? Does the CLI require a hard pull?

Re: Wells Fargo Propel application Denial, then Approval DPs

Anonymous — Wed, 07 Apr 2021 15:12:14 GMT

@M_Smart007 wrote:
Congratulations on your Propel approval! ...If the rumor is correct about them cutting off new applicants?,
Then you got it in the nick of time .. It's a decent card for no AF.

Oh really? Wasn't aware of that. Good timing 😅 I wonder what they will do instead.

Re: Wells Fargo Propel application Denial, then Approval DPs

Anonymous — Sat, 10 Apr 2021 18:27:04 GMT

Added info for ya'll:

The card came in the mail and I got some additional information on their decision. They listed my score as EX 751, which is different from the Fico 9 score I see on my credit monitoring and the WF provided credit score. Not sure which one they pulled, but maybe it was the bankcard score.

Additionally, I received a hard inquiry from the application but my credit score did not move. I checked to see if any of my old inquiries expired on that day (I get daily score updates), or if anything else that could offset the inquiry happened, but I found nothing. It looks like I literally just didn't lose any points from the inquiry. Bizarre, but I'm not complaining

Re: Wells Fargo Propel application Denial, then Approval DPs

Mr_Mojo_Risin — Sat, 10 Apr 2021 19:05:24 GMT

Sounds like you got a pretty good approval. I've read great reviews of this CC, glad you were able to pick it up.

Congratulations!

Re: Wells Fargo Propel application Denial, then Approval DPs

Anonymous — Mon, 05 Jul 2021 03:32:40 GMT

I applied on 3/25/20 and got my first CC pending response and its been crickets since! I'm pretty sure my address was the issue since the application asks for home address, I about to move and thought surely there will be a place for mailing address in the process, but there wasn't!
it was my first inquiry in 12 months and I have a thin file of 3 cards totaling a measly $6600 CL.
I always read what's going on with approvals etc on here for my best shots
Who knows, if they mailed card or denial, since I listed address as that listed in my reports instead of new street address, I use USPS that allows address to be listed PO street address with unit instead of box # since PO Box addys are a no go these days!
Now I have new 2 hard pulls without resolution since I got another pending from Chase Sapphire.(w/$95 fee) a month later! I have a Starbucks prepaid card for 2 years and applied through Chase app. It was late night and a refresh stated systems were updating, try later...
I got a notification to check statements and Docs for "letter" stating they want to talk to me about app, but I've checked multiple times and don't see it...I know I should call but have never done so before and I'm lost

Re: Wells Fargo Propel application Denial, then Approval DPs

Jordan23ww — Fri, 28 May 2021 22:50:41 GMT

@Anonymous wrote:
@KatSoDak wrote:
Nice job figuring out how to maneuver WF approvals! Currently they seem to be on a $1500 CLI every six months so mark your calendar to call them in October.
Oo, is that so? Does the CLI require a hard pull?

@Anonymous so the way limit increases work with Wells Fargo you have to call in and speak with a rep to make the request. They read a disclaimer to you that they will try to approve you for the limit increase off a soft inquiry. You tell them how much you want your limit increased to. They will either approve you or counter with the amount they can approve you for.

If they can't instantly approve you for a limit increase they will offer to transfer you to speak with someone else. If you accept their offer to be transferred that's when it will become a hard inquiry. Any time they can't instantly approve me I just decline to be transferred.

Re: Wells Fargo Propel application Denial, then Approval DPs

babygirl1256 — Sat, 29 May 2021 02:48:18 GMT

Congrats on your Wells Fargo Propel approval -and- for sharing your DPs!!!