topic Re: Wells Fargo pending in Credit Card Applications

Wells Fargo pending

Ramsport — Mon, 08 Aug 2022 16:44:38 GMT

Got the dreaded pending status for my application.

It says we need to verify some information.

I've been banking with them for 20 years you think that it would already be verified.

Is this a no.

Re: Wells Fargo pending

TRC_WA — Mon, 08 Aug 2022 17:08:50 GMT

Not necessarily. I got the same thing when I apped and got an approval the next day and I've banked with them for years.

If approved though they can be a PITA to get a CLI with... at least in my experiences. Last denial was due to checking balances and I'm like "OK then... I'll just move my ENTIRE direct deposit to NFCU."

Re: Wells Fargo pending

Ramsport — Mon, 08 Aug 2022 17:32:34 GMT

Yeah I know they're a PITA. I've stuck with them out of sheer laziness.

I only applied for a balance transfer. Do you mind sharing what your data point was when you applied.

I waited for them to update my FICO score which stands at 705.

I was told they pull Equifax and Equifax is the only credit report that I have one solitary bad from almost 7 years ago. Other reports clean and 715 respectively.

I'm guessing that's what they're checking.

Thank you for responding.

Re: Wells Fargo pending

TRC_WA — Mon, 08 Aug 2022 17:51:41 GMT

@Ramsport wrote:
Yeah I know they're a PITA. I've stuck with them out of sheer laziness.

I only applied for a balance transfer. Do you mind sharing what your data point was when you applied.

I waited for them to update my FICO score which stands at 705.

Mine were lower than that. I was approved for the Platinum 2+ years ago and the Reflect 8 months ago with an EX Fico 8 of around 640-660 respectively... but I had virtually no apps or inquiries in 2 years because I was in the tail end of a 5 year Ch 13 bankruptcy plan so I wasn't doing credit apps.

Re: Wells Fargo pending

coldfusion — Mon, 08 Aug 2022 20:24:23 GMT

@Ramsport wrote:
Yeah I know they're a PITA. I've stuck with them out of sheer laziness.

I only applied for a balance transfer. Do you mind sharing what your data point was when you applied.

I waited for them to update my FICO score which stands at 705.

I was told they pull Equifax and Equifax is the only credit report that I have one solitary bad from almost 7 years ago. Other reports clean and 715 respectively.

I'm guessing that's what they're checking.

Thank you for responding.

Wells Fargo is more commonly associated with Experian hard pulls but it can and does vary, in part based upon which state you live in. You can take a look at the charts in this thread https://ficoforums.myfico.com/t5/General-Credit-Topics/Which-Report-Will-They-Pull-Part-2/td-p/6379773 to get an idea of odds that you really would trigger an Equifax hard pull if you applied.

Re: Wells Fargo pending

Ramsport — Tue, 09 Aug 2022 00:37:47 GMT

Thanks to all the responses I greatly appreciate them.

And I'm going to take a look at that. I'm in California and I had a app for it earlier but my Equifax was frozen so they just canceled it. Then they told me I had to wait 30 days before I could reapply.

The other poster is so correct. They are a PITA to deal with.

Re: Wells Fargo pending

bigseegar — Tue, 09 Aug 2022 15:00:48 GMT

@Ramsport wrote:
Got the dreaded pending status for my application.
It says we need to verify some information.
I've been banking with them for 20 years you think that it would already be verified.
Is this a no.

I got the same last year and I too had not only banked with them in the past both personal and business checking accts but I also had had two home mortgages with the as well including a 20 year old active one...smh. Oh and it was a denial for too may INQ at that time (10/2, 4/12) btw.

Re: Wells Fargo pending

Ramsport — Wed, 10 Aug 2022 03:09:51 GMT

So an update on my pending application to Wells Fargo.

They couldn't verify my phone number that's why the letter.

So I pulled up my three credit bureaus while I was on the phone with the department and Equifax doesn't list any phone numbers. Not a one.

Experian and transunion are okay.

But they pulled Equifax.

Since they couldn't verify my phone number I have to send in proof of my address. To the poster who had the two mortgages and a very tight relationship with Wells, I'm very surprised that they turned you down. That actually concerns me because they don't seem to consider a strong relationship.

My Equifax was frozen until I unfroze it to apply so I don't have any inquiries.

But it may rain tonight and who knows what determines why somebody gets approved. Lol

Re: Wells Fargo pending

TRC_WA — Wed, 10 Aug 2022 03:20:40 GMT

@Ramsport wrote:
To the poster who had the two mortgages and a very tight relationship with Wells, I'm very surprised that they turned you down. That actually concerns me because they don't seem to consider a strong relationship.

They don't... and that's why I moved my everyday banking... DD's... etc to NFCU. Easy decision.

Re: Wells Fargo pending

Ramsport — Wed, 10 Aug 2022 20:00:30 GMT

Well, as I said in my initial posting, I only stayed out of sheer laziness.

If it's denied I'm closing my accounts.

Thank you for responding.

Re: Wells Fargo pending

Ramsport — Wed, 10 Aug 2022 20:03:26 GMT

So I am literally sitting in front of the banker that I bank with at Wells Fargo.

Is that not enough for address verification apparently not.

He actually got the credit department on the phone and they told him I need to bring back proof of my address and two utility bills.

And I sent to him but you're my banker I've been with you guys for 20 years and you seriously need me to bring in my proof of address because my phone number is not on Equifax?

I even pulled up my Equifax report to show him there's no phone numbers listed. I couldn't even give them an old phone number.

Is it any Wonder we can't keep up with this credit business.

Re: Wells Fargo pending

Janneman — Thu, 11 Aug 2022 14:13:49 GMT

@Ramsport wrote:
So an update on my pending application to Wells Fargo.
They couldn't verify my phone number that's why the letter.
So I pulled up my three credit bureaus while I was on the phone with the department and Equifax doesn't list any phone numbers. Not a one.
Experian and transunion are okay.
But they pulled Equifax.
Since they couldn't verify my phone number I have to send in proof of my address. To the poster who had the two mortgages and a very tight relationship with Wells, I'm very surprised that they turned you down. That actually concerns me because they don't seem to consider a strong relationship.
My Equifax was frozen until I unfroze it to apply so I don't have any inquiries.
But it may rain tonight and who knows what determines why somebody gets approved. Lol

They want to verify phone number too?? If so, what to do to increase our odds? Do they pull from LN too? Because LN contains all our phone numbers, major bureaus may not...

Re: Wells Fargo pending

coldfusion — Thu, 11 Aug 2022 15:29:18 GMT

That assumes ones LexisNexis consumer report is complete and accurate. I can confirm that isn't always the case. :-(

Re: Wells Fargo pending

Strogen — Fri, 07 Oct 2022 20:02:13 GMT

Just wanted to add a data point for anyone else that got a "pending" result.

I got "pending" on my app , immediately called in and was told I was automatically denied for some garbage reason like "Too many accounts with a balance greater than $0", which didnt make sense as I carry no credit card debt.

Anyway I told them I was upset about it, being a long term customer (use them as my primary bank for the last 8 years) they know me better than literally any other creditor. I also have over $20k in an account with them, its not a lot but also should certainly speak to my creditworthiness at least a little, along with the fact ive had a "platinum" WF visa credit card since 2015 as well. The lady on the phone understood so made a case and sent me over to the executive line, who also made a case about it. I was called back by someone a few days later in the executive department who said they were looking into it. about 6 days later I get an email that I was approved for the card and she shortly called and apologized for the automated system giving me a denial and that I did fit their criteria for the card so did go ahead and manually approve me on the backend, citing my perfect history with them.

So it is possible to overturn a denial with WF but seems you need really solid reasoning.

Re: Wells Fargo pending

OmarGB9 — Fri, 07 Oct 2022 20:11:50 GMT

@Strogen wrote:
Just wanted to add a data point for anyone else that got a "pending" result.

I got "pending" on my app , immediately called in and was told I was automatically denied for some garbage reason like "Too many accounts with a balance greater than $0", which didnt make sense as I carry no credit card debt.

Anyway I told them I was upset about it, being a long term customer (use them as my primary bank for the last 8 years) they know me better than literally any other creditor. I also have over $20k in an account with them, its not a lot but also should certainly speak to my creditworthiness at least a little, along with the fact ive had a "platinum" WF visa credit card since 2015 as well. The lady on the phone understood so made a case and sent me over to the executive line, who also made a case about it. I was called back by someone a few days later in the executive department who said they were looking into it. about 6 days later I get an email that I was approved for the card and she shortly called and apologized for the automated system giving me a denial and that I did fit their criteria for the card so did go ahead and manually approve me on the backend, citing my perfect history with them.

So it is possible to overturn a denial with WF but seems you need really solid reasoning.

Congrats on the approval, but money on deposit with them does not speak to creditworthiness. Creditworthiness does not take into account income/financial assets.

Re: Wells Fargo pending

Jeffster1 — Sat, 08 Oct 2022 03:12:36 GMT

I've had a relationship with them since I was a mere kid and opened an account with First Interstate with whom they merged in the 1990s.

I IIB my WF card in 2017. I paid 100 percent in my 13. I still haven't decided whether I'm going to stay with them as I still have smallish secondary checking and savings accounts with them. I think they still hate me because I get no pre-approved offers via their app.

Re: Wells Fargo pending

Janneman — Sat, 08 Oct 2022 00:19:28 GMT

It could be possible that I might have overlooked this entire thread ...which is why I have been unable to know of which credit card of WF we have been talking about over here or its a discussion in general about WF.....😇