topic Re: Wells Fargo product change in Credit Cards

Wells Fargo product change

Anonymous — Thu, 23 Aug 2018 15:21:38 GMT

A couple weeks back I applied for the new Wells Fargo Propel card but got denied for short history with current Wells Fargo Cash Wise card. I really could use a card that rewards all the eating out I do. Plus I have other 1.5% and 2% cashback cards.

So I called Wells Fargo to ask about a product change, they checked my info and said I was eligible! I went forward with it and she submitted the application and it went pending. Was placed on hold so she could talk to Underwriting, after 5-10 minutes, Approved!

Happy to have this card, and it makes my credit card portfolio a little more versatile with the different rewards. I only had the Cash Wise card since March. Had a $0 balance on it, but heavy usage for the time I've had it. Also no Hard Pull for this change. $5000 limit on Cash Wise. It all transfers to the Propel card but APR may change I was told, not sure if for better or worse. I wasnt eligible for Bonus offers. They closed my Cash Wise card and the new Propel card opened with today's date. I have a pretty long relationship with Wells Fargo through checking and savings and previous car loan, over 6 years.

Re: Wells Fargo product change

xaximus — Thu, 23 Aug 2018 16:30:26 GMT

Congrats on the PC. I would have waited for a bit to get the Propel since the SUB is pretty good. Either way, it's a great card and great rewards!

Re: Wells Fargo product change

Anonymous — Thu, 23 Aug 2018 17:51:13 GMT

Congrats on the approval! WF is interesting. I PCd from platinum to propel last month as well. To my surprise, they gave me the SUB. Maybe because I’ve had that card for 2+ years.

Re: Wells Fargo product change

Anonymous — Thu, 23 Aug 2018 18:24:23 GMT

Congrats on the PC! I've got the Propel too... Great card. But pro tip moving forward with Wells Fargo and product changes. When you PC to a new card, the old one is closed...That is to say you don't get that history carried over to the new card. Learned this the hard way a few years ago when I lost two years of history PC'ing to the Cash Wise.

Also about these cards and the Go Far Rewards program, I found you can combine the cash back from the Cash Wise card with the points from the Propel. Only works moving the cash back to points, not the other way around though. So if you feel like building more history with WF, it's a nice little feature should you get the Cash Wise again further down the line.

Re: Wells Fargo product change

Anonymous — Thu, 23 Aug 2018 21:21:28 GMT

Yea, they made sure I knew that the account will be closed and I will lose all history, and start fresh. Ive only had the card for about almost 6 months though so I thought let's go for it. I wasnt eligible for the Bonus because of how new my account was and already receiving the bonus with the Cash Wise. I think she even told me that you cant have 2 Wells Fargo cards in 6 months.

I thought about waiting 6 months to apply for the Propel card but didn't want to jeopardize my chances when they see all my new accounts show up.

Re: Wells Fargo product change

sjt — Fri, 24 Aug 2018 23:03:30 GMT

@Anonymous wrote:
Yea, they made sure I knew that the account will be closed and I will lose all history, and start fresh. Ive only had the card for about almost 6 months though so I thought let's go for it. I wasnt eligible for the Bonus because of how new my account was and already receiving the bonus with the Cash Wise. I think she even told me that you cant have 2 Wells Fargo cards in 6 months.

I thought about waiting 6 months to apply for the Propel card but didn't want to jeopardize my chances when they see all my new accounts show up.

I think Wells may have opened a new account and did not do a product change. You might want to check.

Re: Wells Fargo product change

Anonymous — Fri, 24 Aug 2018 23:48:14 GMT

Yes, I understood that's how their product changes work. Only had 6 months history with my Cash Wise card, so wont hurt me too much.