topic Re: Wells Fargo Secured Card in Credit Cards

Wells Fargo Secured Card

Anonymous — Tue, 18 Jun 2019 20:13:54 GMT

I have a WF secured card for 12 months now, the limit is $400, use it for literally everything, paying it off several times a month. FICO is 751. Should I expect the upgrade or look elsewhere for an unsecured card? I tried to apply online for Chase Sapphire but got denied.

Re: Wells Fargo Secured Card

jwa77 — Tue, 18 Jun 2019 20:10:21 GMT

I'm going to have to be the one person who thinks you should keep it open but move on...

I have this card in my portfolio and they didn't graduate it until my FICO 9 score (yes, 9, they changed from 8 sometime in mid 2017) was at 700.

They also made me think that I'd never get a "real" credit card until I hit 700. I wish I'd discovered this community forum sooner

Re: Wells Fargo Secured Card

Anonymous — Tue, 18 Jun 2019 21:05:00 GMT

Yeah, but I already have 751 FICO. Should I call them uo and ask about upgrade? Or they don't do it like this, do they?

Re: Wells Fargo Secured Card

CreditInspired — Tue, 18 Jun 2019 21:31:21 GMT

@Anonymous wrote:
I have a WF secured card for 12 months now, the limit is $400, use it for literally everything, paying it off several times a month. FICO is 751. Should I expect the upgrade or look elsewhere for an unsecured card? I tried to apply online for Chase Sapphire but got denied.

Hi and welcome to MyFICO

When you say FICO is 751, is that EQ, EX or TU and where did you get that score? Do you know all 3 of your scores?

Is the WF secured your only CC?

I dont know the answer to upgrading a WF secured card. But, so as not to rack up denials applying for CCs, try the prequals at Disco, AmX and Cap1. If your history is 12 months, you have a thin credit profile and Chase is not a card to go after just yet.

Re: Wells Fargo Secured Card

800FICOGoal — Tue, 18 Jun 2019 22:48:14 GMT

@Anonymous wrote:
I have a WF secured card for 12 months now....
.
.
FICO is 751.
.
.
I tried to apply online for Chase Sapphire but got denied.

Lenders look at more than just your score. If the 12 mo old card, with a $400 limit is your only one, then applying for a CSP($5000 min limit) was overreaching. Lenders want to see you have experience managing limits that come with the card your applying for.

Re: Wells Fargo Secured Card

M_Smart007 — Tue, 18 Jun 2019 23:20:13 GMT

Welcome To myFICO Forums

I would call WF, it cant hurt. I am also with the other poster on keeping it open.

you may also Check for Pre-Qualified offers, although not 100% Guaranteed,

Discover, Citibank, Capitol One have pre-Qualify pages, it will probably give you

some idea as to where you stand.

Re: Wells Fargo Secured Card

sjt — Wed, 19 Jun 2019 00:48:12 GMT

@Anonymous wrote:
I have a WF secured card for 12 months now, the limit is $400, use it for literally everything, paying it off several times a month. FICO is 751. Should I expect the upgrade or look elsewhere for an unsecured card? I tried to apply online for Chase Sapphire but got denied.

What is your credit profile (length of credit history, accounts, any baddies, utilization) Also, what was the reason for the Chase denial?