topic Re: Wells Fargo Active Cash in Credit Card Approvals

Wells Fargo Active Cash + GS Apple Card Approvals

Oops_I_Did_It_Again — Fri, 19 Nov 2021 18:49:42 GMT

CC	Bank	SL	APR	CB Pull, KY	Instant Approval
ACTIVE CASH	Wells Fargo	$6,000	20.25%	EX F8 757	yes

DPs, before app
clean profile
Utilization 1%
New accounts 0/3, 0/6, 2/12, 6/24
AoOA 3Y 6M, AAoA 2Y 0M, AoYA 7M
Inquiries EX 1/12
Highest CLs: 16,000, 15,100
Total CCs 11

With a 200.00 SUB, and otherwise reasonable terms, the WF Active Cash struck me as a 'better' 2% card, so I decided to apply.

I have had a savings account with Wells Fargo for ~21 months. Balance has varied from 300-3000. 300 account minimum to avoid monthly fee. May be pertinent as WF is considered a 'relationship bank'.

The SL of 6,000.00 is in line with what I've received form other banks & recent applications.

I received a series of mailers from WF over the last several months, with 'pre-selected' offers for Active Cash and Reflect cards. I have also tried the on-line pre-qualification a couple times and approved for both Active Cash and Reflect cards. Though WF pre-selection/approval doesn't appear to be rock solid, according to several MF members, having the savings account, the consistency of pre-screened credit feedback, and the offer the middle tier APR (19.99%) helped me feel confident about applying for this card.

note: I received balance transfer checks along with new card (15 months 0% APR). I don't have a BT planned but including the checks is a nice 'convenience'.

Re: Wells Fargo Active Cash + GS Apple Card Approvals

Oops_I_Did_It_Again — Fri, 19 Nov 2021 18:50:15 GMT

CC	Bank	SL	APR	CB HP, Ky	instant app
Apple Card	Goldman Sachs	$4,100	16%	TU F9, 765	yes

Various other DPs, before app
clean profile
Utilization 1%
New accounts 0/3, 0/6, 2/12, 6/24

AoOA 3Y 6M, AAoA 2Y 0M, AoYA 7M
Inquiries TU 1/12
Highest CLs: 16,000, 15,100
Total CCs 11

A matte-white chunk of swipeable Titanium is hard to resist!

I'd been doing the pre-application via iPhone for over a year, as early on the SL's offered were just too low.
Through about 10 more retries (ever 30 days or so), the SL offered has varied over range from $1,000 - $4,100.

I can't be sure why the offers fluctuate so much. I was approved every time I tried, so I never got any notices with reason codes.

The first couple pre-approvals I had problems with identity verification. This seems to be common.

I called GS support, and the CSR had me update several iPhone settings. What had happened was that I upgraded to a new iPhone but the transfer of info from old phone to new phone didn't complete properly. One thing that did transfer was an old physical street address which caused a mismatch between iPhone data and my TU credit report. GS customer service helped me identify relevant iPhone settings. I had no subsequent problems completing the application process after these changes were made.

The $4,100 SL is the highest I've gotten out of GS pre-approval, but only about 60% of the average of my last 3 approvals (for other cards with other banks). CLIs are a soft-pull however, so I can work with the modest SL.

Re: Wells Fargo Active Cash

Rebuild2019 — Fri, 19 Nov 2021 08:32:51 GMT

Congratulations 🎉🎈🎊 on your Well Fargo Active Cash Approval.

Re: Wells Fargo Active Cash

NoMoreE46 — Fri, 19 Nov 2021 09:07:55 GMT

Grats @Oops_I_Did_It_Again .

With your simultaneous Apple card approval, looks like you Hit it Baby One More Time 😁

Re: Wells Fargo Active Cash

Oops_I_Did_It_Again — Fri, 19 Nov 2021 09:24:00 GMT

@NoMoreE46

Yup, I did it again, twice.

Re: Wells Fargo Active Cash

M_Smart007 — Fri, 19 Nov 2021 14:36:37 GMT

Congratulations on your approvals 🥳🎉

Re: Wells Fargo Active Cash

greatscott85 — Fri, 19 Nov 2021 14:42:45 GMT

Congratulations! Thanks for the detailed write up!

Re: Wells Fargo Active Cash + GS Apple Card Approvals

Ilinferno — Fri, 19 Nov 2021 14:51:46 GMT

That's great on your approvals! Congrats!

Re: Wells Fargo Active Cash + GS Apple Card Approvals

CreditAggie — Fri, 19 Nov 2021 15:23:46 GMT

Congratulations on your approvals!

Re: Wells Fargo Active Cash + GS Apple Card Approvals

Sub16610 — Fri, 19 Nov 2021 16:46:45 GMT

Congrats on both your approvals!

Re: Wells Fargo Active Cash

gdale6 — Fri, 19 Nov 2021 17:46:12 GMT

Grats on your WF AC approval

Re: Wells Fargo Active Cash

Titans84 — Fri, 19 Nov 2021 18:17:40 GMT

Congrats on both of your approvals!

Re: Wells Fargo Active Cash

cashorcharge — Fri, 19 Nov 2021 22:58:16 GMT

Nicely done!! Congratulations on both your terrific Approvals!! 🥂🎉👏🏻

Re: Wells Fargo Active Cash + GS Apple Card Approvals

Yasselife — Fri, 19 Nov 2021 23:20:16 GMT

@Oops_I_Did_It_Again Congratulations on your approvals.

Just out of curiosity, you apply every 3 months, how has it gone regarding limits and terms?

6-4k obviously look sweet in my eyes.

Re: Wells Fargo Active Cash + GS Apple Card Approvals

KingRue8500 — Sat, 20 Nov 2021 00:45:09 GMT

Congrats on your Wells Fargo Active Cash & Apple Card approvals

Re: Wells Fargo Active Cash + GS Apple Card Approvals

CreditMagic7 — Sat, 20 Nov 2021 00:53:53 GMT

Congratulations on both of those new Approvals!

Re: Wells Fargo Active Cash + GS Apple Card Approvals

Oops_I_Did_It_Again — Sun, 28 Nov 2021 04:02:07 GMT

@Yasselife wrote:
@Oops_I_Did_It_Again Congratulations on your approvals.
Just out of curiosity, you apply every 3 months, how has it gone regarding limits and terms?
6-4k obviously look sweet in my eyes.

Good question. You are, in effect, asking the age old question "How often should I apply", which I have not resolved for myself as yet. There are many answers!

I do have a kind of method, which is to wait until my Fico8/9 scores completely recover from the last application(s) before applying again. This is how I try to excercise some restraint. Theoretcially at least, if your scores are better everytime you appply, it should be helping to offset negative perceptions of credit seeking, which in turn helps keep SLs proped up a bit, IMHO. I'd add that I've moving more towards 2 apps spaced six month apart at this point,...and maybe someday I'll make it through an entire year without apps, and get back the 20 points or so for all INQs falling off and whatever upside points might acrue with re-assignment to a no-recent-credit scorecard. If I live long enough, that is!

I also put priority on applying for CCs that allow SP CLIs and known more generally to be growable. That way, if I do get a dissapointing limit, there is hope of being able to turn lemons into lemonade through CLIs.

IIRC correctly, (questionable!) here's the entire history of my SLs (all credit card apps)

$300, 500, 1000, 2500, 6000, (2500+2500 micro spree) 3100, 5000 6000 7000 (4100+6000+10,000)

To me that looks like an increasing series of numbers, which is arguably flatttening out. It might be flattening out, but it may also be that I'm applying to conservative lenders lately, having run out of generous banks! And any flattening out is more likely do to income limitations than credit application glands being out of control.

I was earlier reading a post where the OP hadn't asked DCU for a CLI in 20 years and when he did they gave him a 9x increase! But to tell the truth, that guy might have done better if he'd been impatiently requesting CLIs all those years!

Re: Wells Fargo Active Cash + GS Apple Card Approvals

Total80sKid — Sat, 20 Nov 2021 05:55:34 GMT

Congrats on both approvals 👍🏼