topic Re: Wells fargo cli in Credit Card Applications

Wells fargo cli

Jccflat — Mon, 15 Jan 2024 14:46:45 GMT

so I have my accounts open for six months and two days I called now asked for an increase and customer service said I will get a letter in the mail. I guess it's a decline ?

Re: Wells fargo cli

pizzadude — Mon, 15 Jan 2024 15:41:05 GMT

Moving to Credit Card Applications for better visibility

Re: Wells fargo cli

NoMoreE46 — Mon, 15 Jan 2024 16:35:20 GMT

Probably a decline. WF CSRs have always told me (either way) of course.

@Jccflat wrote:
so I have my accounts open for six months and two days I called now asked for an increase and customer service said I will get a letter in the mail. I guess it's a decline ?

Re: Wells fargo cli

mgood — Mon, 15 Jan 2024 16:29:36 GMT

@Jccflat wrote:
so I have my accounts open for six months and two days I called now asked for an increase and customer service said I will get a letter in the mail. I guess it's a decline ?

For me that meant a decline. I suppose sometimes it just means they want to look at something a little closer before they decide.

I haven't requested a CLI from WF in a year because my limit got high enough and my usage is so low, I'm embarrassed to ask for more, lol. So I don't know if things might have changed there recently.

I would have my CRAs frozen when I called. I'd ask if I could get a CLI with a SP. The rep would tell me he couldn't guarantee if it would be SP or HP and ask if I wanted to proceed. My reports were frozen so I'd tell him to go for it. He'd tell me I'd get a letter in so many days. Letter would arrive and say they did not grant an increase because they couldn't access my reports. Or when it did work, instead of telling me I'd get a letter, he'd tell me how much my increase was right then on the phone.

Re: Wells fargo cli

Jccflat — Fri, 19 Jan 2024 19:14:25 GMT

so it was decline

I got a letter the reason I was declining, because my saving and checking account are low balance loll

I made a mistake. I opened the checking and savings account with them when really they're not my primary checking account, so should I close it so they can use it as an excuse??

and if I close it how long after should try again for CLI ?

Re: Wells fargo cli

CYBERSAM — Fri, 19 Jan 2024 19:57:55 GMT

@Jccflat wrote:
so it was decline
I got a letter the reason I was declining, because my saving and checking account are low balance loll
I made a mistake. I opened the checking and savings account with them when really they're not my primary checking account, so should I close it so they can use it as an excuse??
and if I close it how long after should try again for CLI ?

We did this experiment in this site awhile ago and result was, by canceling your low balance checking/saving account there was a CLI 🤷‍♂ Give it a try...

Re: Wells fargo cli

NoMoreE46 — Fri, 19 Jan 2024 21:59:02 GMT

Yes, do remember this. I was skeptical about closing the DDAs. It did work for one or two folks who got a CLI or new cc afterwards...

Re: Wells fargo cli

Jccflat — Mon, 22 Jan 2024 14:12:01 GMT

how long after closing the savings should i try again for a cli?

on the checking thinking to deposit 10k

or they want millions?

Re: Wells fargo cli

NoMoreE46 — Mon, 22 Jan 2024 14:38:20 GMT

$10,000 isn't a small amount in my opinion. However, to most of the big banks, this amount would Not a tipping factor for a card approval. In fact, the bigger banks have LOBs that don't talk to each other.

Personally, I was only doing the minimum $500/month DD when I got my 3 WF cards. My TE is now over $42000 on my now AG and AC.

Re: Wells fargo cli

LADave — Thu, 01 Feb 2024 05:28:25 GMT

@Jccflat wrote:
so I have my accounts open for six months and two days I called now asked for an increase and customer service said I will get a letter in the mail. I guess it's a decline ?

As far as I know it probably is. I've been told that more than a few times when requesting a WF CLI, and none of them immediately turned into an approval.

Having said that, there was one time when I was declined for a WF CLI, and then I got the CLI about a month later shortly after I paid the card off. So they may be keeping the CLI request open for a while if you're declined, and then approve it after their algorithm has been satisfied.

@Jccflat wrote:
so it was decline
I got a letter the reason I was declining, because my saving and checking account are low balance loll
I made a mistake. I opened the checking and savings account with them when really they're not my primary checking account, so should I close it so they can use it as an excuse??
and if I close it how long after should try again for CLI ?

I closed my WF checking account this past summer with this idea in mind. After a couple months, I decided to do an experiment after seeing a $325 offer for a new checking account.

I kept it open for a while, got the bonus, and keep a minimum $500 available balance for at least a month before calling in with a CLI request for both my Active Cash and Autograph cards. I was approved for CLIs on both of them, although not in the amounts I requested.

So $500 may be sufficient, and that's enough to keep an Everyday Checking account free if it's the posted (not available) balance. The amount of interest you'll get back on $500 in a HYSA is probably not going to impact your financial future as much as a generous CLI from Wells Fargo, so the trade-off seems worth it to me.

Re: Wells fargo cli

CorpCrMgr1 — Thu, 01 Feb 2024 23:28:24 GMT

Sorry about the decline.

Re: Wells fargo cli

JtAlmond — Wed, 13 Mar 2024 00:06:11 GMT

It might be a decline. I requested a CLI from Wells last March. My CLI was approved immediately with the increase also immediate.

Just because my request took a different path doesn't mean your CLI request was turned down.