topic Re: Do you guys recommend Wells Fargo credit cards? in Credit Cards

Do you guys recommend Wells Fargo credit cards?

Isacking97 — Thu, 11 Jul 2019 20:23:32 GMT

I was send an offer (pre-qual) for the Visa Platinium, 21.74% APR, 0% APR for 18 months and cellphone insurance included

Re: Do you guys recommend Wells Fargo credit cards?

FinStar — Thu, 11 Jul 2019 20:29:14 GMT

WF seems to be a decent bank in my experience with multiple products over the years.

What does the actual offer state on the mailer...pre-selected or pre-qualified?

Re: Do you guys recommend Wells Fargo credit cards?

Green456 — Thu, 11 Jul 2019 20:35:20 GMT

@Isacking97 wrote:
I was send an offer (pre-qual) for the Visa Platinium, 21.74% APR, 0% APR for 18 months and cellphone insurance included

Only if you dont mind not being able to ever do a product change.

Re: Do you guys recommend Wells Fargo credit cards?

Anonymous — Thu, 11 Jul 2019 20:37:19 GMT

@Green456 wrote:
@Isacking97 wrote:
I was send an offer (pre-qual) for the Visa Platinium, 21.74% APR, 0% APR for 18 months and cellphone insurance included
Only if you dont mind not being able to ever do a product change.

that's what the SD if for since you have to wait XX months before you qualify for another bonus anyway. I would say go for something with a bonus attached instead of the Platinum.

Re: Do you guys recommend Wells Fargo credit cards?

FinStar — Thu, 11 Jul 2019 20:40:27 GMT

@Green456 wrote:
@Isacking97 wrote:
I was send an offer (pre-qual) for the Visa Platinium, 21.74% APR, 0% APR for 18 months and cellphone insurance included
Only if you dont mind not being able to ever do a product change.

Actually, I've been able to PC WF cards in the past without any issues. The only drawback to their PC process is that they close the old account and the PC'd product ends up being reported as a new account. In a variety of cases, which is not common for PCs with other lenders, WF allows you to be eligible for the SUB provided you meet certain criteria. IIRC, @AverageJoesCredit was able to PC his WF CC.

Re: Do you guys recommend Wells Fargo credit cards?

Anonymous — Thu, 11 Jul 2019 21:00:23 GMT

I burned Wells back in 2008 and just got approved for $6k SL a few days ago with a 0% APR for 15 months...Yes I recommend them

Re: Do you guys recommend Wells Fargo credit cards?

DaveInAZ — Thu, 11 Jul 2019 21:08:26 GMT

@Isacking97 wrote:
I was send an offer (pre-qual) for the Visa Platinium, 21.74% APR, 0% APR for 18 months and cellphone insurance included

Do you have bank accounts with them? If so, be wary. I have a checking account with them and got the same mailer with pre-qual code. App'd and got 'under review'. Letter arrived a week or so later with three reasons for the denial:

- You bank account balances aren't high enough (guilty, I don't trust you to keep much money with you)

- You have inquiries! (guilty as charged)

- Your bank account hasn't grown over the past year (guilty, I only opened it in January)

I drained the checking account last week, will close before the statement on the 18th. To answer your question: No, I don't recommend anything from Wells Fargo.

Re: Do you guys recommend Wells Fargo credit cards?

Anonymous — Thu, 11 Jul 2019 21:15:10 GMT

@DaveInAZ wrote:
Do you have bank accounts with them? If so, be wary. I have a checking account with them and got the same mailer with pre-qual code. App'd and got 'under review'. Letter arrived a week or so later with three reasons for the denial:
- You bank account balances aren't high enough (guilty, I don't trust you to keep much money with you)
- You have inquiries! (guilty as charged)
- Your bank account hasn't grown over the past year (guilty, I only opened it in January)

You're my case in point when others suggest getting a depository account to increase their chances with other products in the future.

I haven't put money into an account w/ a lender in years and intend to keep it that way. It's not worthwhile to park cash somewhere for a piddly 0.10% or less. The perk with BOA Rewards "bonus" also doesn't make much sense to me. I'll take my high yield high balance 2.5% CU account all day long. Why should we give the banks a free loan to bump their balance lines for shareholders?

Re: Do you guys recommend Wells Fargo credit cards?

Anonymous — Thu, 11 Jul 2019 21:25:48 GMT

@Anonymous wrote:
@DaveInAZ wrote:
Do you have bank accounts with them? If so, be wary. I have a checking account with them and got the same mailer with pre-qual code. App'd and got 'under review'. Letter arrived a week or so later with three reasons for the denial:
- You bank account balances aren't high enough (guilty, I don't trust you to keep much money with you)
- You have inquiries! (guilty as charged)
- Your bank account hasn't grown over the past year (guilty, I only opened it in January)
You're my case in point when others suggest getting a depository account to increase their chances with other products in the future.

I haven't put money into an account w/ a lender in years and intend to keep it that way. It's not worthwhile to park cash somewhere for a piddly 0.10% or less. The perk with BOA Rewards "bonus" also doesn't make much sense to me. I'll take my high yield high balance 2.5% CU account all day long. Why should we give the banks a free loan to bump their balance lines for shareholders?

I haven't done it myself but the argument is that the BoA bonuses can be had using Merrill Edge accounts, and in many cases parking $100K in a (say) well chosen S&P500 index fund is sort of broker-agnostic, pretty much the same expenses/performance everywhere. So may as well be there if you have the card.

Re: Do you guys recommend Wells Fargo credit cards?

AverageJoesCredit — Thu, 11 Jul 2019 21:29:15 GMT

Lol, i pc'd my AF Amex Propel alright. Right into a new account and hp so really wasnt a true pc per se. I havent had any issues apart from slight miscommunication over the pc, or lack there of. Got the SUB for the Cash Wise, didnt get the SUB on the Amex due to getting the CW in past 15 months. Do now get Bt offers, ie 12 months at 0% but 3% fee. Worth a shot if you can use the Propel well or just for some lender diversity. Imo

Re: Do you guys recommend Wells Fargo credit cards?

Winesnoblv — Thu, 11 Jul 2019 23:14:02 GMT

I was getting "pre-qualifed offers" regularly from Wells Fargo last year and had concerns. Decided to apply and was approved for their Propel Card. No problems with their online site and able to pay online without an issue. Also, had a fraudulent purchase which they contacted me about. Removed the charge, closed the account and reissued a new card. I was also able to recieve a sp cli on the card a couple of days ago.

From my experience, I would recommend.

Re: Do you guys recommend Wells Fargo credit cards?

gdale6 — Thu, 11 Jul 2019 23:55:17 GMT

I dont recommend them at all after their scandal on creating bogus accounts. I did app for their propel last year only to grab the SUB, was denied for too many new accounts in 24 months. Was at 5/24. If you are going to get the card I would do it for the SUB only then get out.

Re: Do you guys recommend Wells Fargo credit cards?

flyingmd — Fri, 12 Jul 2019 00:24:35 GMT

That isnt true. I was able to do a product change from Platinum ViSA to propel Amex last year. So unless something changed recent, product changes are possible.

Re: Do you guys recommend Wells Fargo credit cards?

Isacking97 — Fri, 12 Jul 2019 00:44:43 GMT

@gdale6 wrote:
I dont recommend them at all after their scandal on creating bogus accounts. I did app for their propel last year only to grab the SUB, was denied for too many new accounts in 24 months. Was at 5/24. If you are going to get the card I would do it for the SUB only then get out.

I like to use it for the Cellphone insurance, Im paying $14 for a service that is necesary but that I don't use!!

Re: Do you guys recommend Wells Fargo credit cards?

RicHowe — Fri, 12 Jul 2019 00:48:29 GMT

@Isacking97 wrote:
I was send an offer (pre-qual) for the Visa Platinium, 21.74% APR, 0% APR for 18 months and cellphone insurance included
Do you guys recommend Wells Fargo credit cards?

No.

Re: Do you guys recommend Wells Fargo credit cards?

Anonymous — Fri, 12 Jul 2019 04:49:39 GMT

@gdale6 wrote:
I dont recommend them at all after their scandal on creating bogus accounts. I did app for their propel last year only to grab the SUB, was denied for too many new accounts in 24 months. Was at 5/24. If you are going to get the card I would do it for the SUB only then get out.

Interesting that I got approved for the Propel last month being around 24/24. Did you have a checking account with them? I opened a checking account with them for the sign up bonus. And they gave me pre-approved offer for the card when signing in.

Re: Do you guys recommend Wells Fargo credit cards?

OmarR — Fri, 12 Jul 2019 05:14:14 GMT

@DaveInAZ wrote:
@Isacking97 wrote:
I was send an offer (pre-qual) for the Visa Platinium, 21.74% APR, 0% APR for 18 months and cellphone insurance included
Do you have bank accounts with them? If so, be wary. I have a checking account with them and got the same mailer with pre-qual code. App'd and got 'under review'. Letter arrived a week or so later with three reasons for the denial:
- You bank account balances aren't high enough (guilty, I don't trust you to keep much money with you)
- You have inquiries! (guilty as charged)
- Your bank account hasn't grown over the past year (guilty, I only opened it in January)

I drained the checking account last week, will close before the statement on the 18th. To answer your question: No, I don't recommend anything from Wells Fargo.

Depending on the OP's needs, I was going to suggest that they churn WF for a checking account SUB instead.

I know that's the reason for your WF accounts and it would be for me as well if I was in their geofence.

Re: Do you guys recommend Wells Fargo credit cards?

Gollum — Fri, 12 Jul 2019 05:42:55 GMT

@Isacking97 wrote:
I was send an offer (pre-qual) for the Visa Platinium, 21.74% APR, 0% APR for 18 months and cellphone insurance included

Regarding the question in the Subject line (Do you guys recommend Wells Fargo credit cards?):

I don't think we should allow/have banks that are "too big to fail," https://en.wikipedia.org/wiki/Too_big_to_fail and I also think that banks that participated in and caused the real-estate sub-prime crisis then took the government bailout (TARP) https://en.wikipedia.org/wiki/Troubled_Asset_Relief_Program#Participants have an unpleasant aura. Wells Fargo is in both of those categories.

I'm more enthused about credit union credit cards (instead of commercial bank credit cards) these days.

Re: Do you guys recommend Wells Fargo credit cards?

noobody — Fri, 12 Jul 2019 08:46:17 GMT

couple month ago went throught a lot trouble get my propel AMEX approved with 840 score w/o prior relationship, no problem using the card all over the world.

still have a question about PC

Do they HP and set up a new account? that's not a PC, why anyone want do that by losing SUB

Do they NO HP just set up a new account, thus shorten AAoA and AoYA?

DO they HP and keep old account history?

Re: Do you guys recommend Wells Fargo credit cards?

Anonymous — Fri, 12 Jul 2019 11:31:28 GMT

Never had a problem with them in many many years. Only recently (~5 years) have I had credit accounts with them. And still never have had a problem.

To answer the PC questions a few had, yes they can PC you. I PC'd a Platinum to the Cash Wise. No hard pull however the Platinum was completely closed and a brand new account opened. No back dating of history either to the opening date of the original Platinum. Also, I wish they would add a luv button online. Would be nice to not have to call in for a chance at a CLI.

For me, the Propel and Cash Wise combine to make a no annual fee version of the Sapphire Preferred and Freedom Unlimited combo. I know there's no travel partners with WF but you still get decent travel protections and cell phone protection too.

Was never a victim of the random accounts, random fees, random insurance policies.

Everything has an outlier. Guess I'm on the positive end lol.