topic Re: Odds of getting approved for Wells Fargo Propel or US Bank Altitude Reserve in Credit Cards

Odds of getting approved for Wells Fargo Propel or US Bank Altitude Reserve

SFLSpotter9210 — Wed, 17 Mar 2021 19:58:07 GMT

Just out of curiousity I know I'm on a very steep climb of a mountain to get either of these. But do I have a remote chance or not a chance in heck? So Wells Fargo pulls EX and US Bank pulls TU in my area. My TU inquiries are 5 and my EX is 2. My new accounts are as follows 1/6, 5/12, 11/24. Those accounts I referenced doesn't have to be in that exact order meaning I don't need the Propel or the Alititude Reserve could be any of their respective cards they offer. I appreciate your responses in advance. Hope everyone is having a great week thus far.

Re: Odds of getting approved for Wells Fargo Propel or US Bank Altitude Reserve

M_Smart007 — Wed, 17 Mar 2021 20:09:12 GMT

How brave do you feel? .. it's only a HP. (gotta weigh risk vs reward)

Keep in mind, while they may HP EX, they will probably SP EQ.

Guess I was fortunate to get my WF cards early on .. before my credit seeking kicked in

Good luck if you do apply!

Re: Odds of getting approved for Wells Fargo Propel or US Bank Altitude Reserve

SFLSpotter9210 — Wed, 17 Mar 2021 20:37:52 GMT

I applied awhile ago better than 2 years ago for the propel and was denied that was in my full scale credit hounding time. Man your no help lol I appreciate your reply nonetheless.

Re: Odds of getting approved for Wells Fargo Propel or US Bank Altitude Reserve

AllZero — Wed, 17 Mar 2021 20:43:28 GMT

From reading data points on US Bank, it appears 1/12 new accounts would be the bare minimum. Maybe a little bit more time in the garden to improve your odds at approval?

Re: Odds of getting approved for Wells Fargo Propel or US Bank Altitude Reserve

SFLSpotter9210 — Wed, 17 Mar 2021 20:52:04 GMT

Thanks for your reply yeah I did some more research and your right. I also don't have a relationship with neither banks and that's a no go for the Alititude Reserve. I'm getting hammered with Wells Fargo marketing but, that means nothing as everyone knows. Oh well back to the garden. I got a lot of gardening to do since acquiring the USAA AMEX recently. Maybe one day if I can keep myself in the garden I can app for those banks.

Re: Odds of getting approved for Wells Fargo Propel or US Bank Altitude Reserve

coldfusion — Wed, 17 Mar 2021 20:57:20 GMT

There are rumors mentioned elsewhere including reddit and DoC that the Propel will no longer accept new applicants on or around 4/19/21 which may or may not influence your decision-making process. Either way, being 5/12 likely hurts your odds in either case especially with US Bank.

If you already have a checking and/or savings account with WF that tends to improve ones odds.

Re: Odds of getting approved for Wells Fargo Propel or US Bank Altitude Reserve

M_Smart007 — Wed, 17 Mar 2021 21:40:02 GMT

@coldfusion wrote:

"If you already have a checking and/or savings account with WF that tends to improve ones odds."

Did not improve my odds for a CLI ..on the AA letter they used something to the effect of;

"You leave $100 in checking, and $20 in savings, and you expect a CLI?"

Not the exact verbage ..You get my drift.

So IMHO, having a stagnant checking/savings at WF .. actually works against you.

Re: Odds of getting approved for Wells Fargo Propel or US Bank Altitude Reserve

coldfusion — Wed, 17 Mar 2021 21:45:09 GMT

@M_Smart007 wrote:
@coldfusion wrote:

"If you already have a checking and/or savings account with WF that tends to improve ones odds."
Did not improve my odds for a CLI ..on the AA letter they used something to the effect of;
"You leave $100 in checking, and $20 in savings, and you expect a CLI?"

Not the exact verbage ..You get my drift.

So IMHO, having a stagnant checking/savings at WF .. actually works against you.

OP is asking about applying for a new card, not a CLI, and a bit of research should uncover that I'm on the correct track.

Re: Odds of getting approved for Wells Fargo Propel or US Bank Altitude Reserve

M_Smart007 — Wed, 17 Mar 2021 22:06:08 GMT

@coldfusion wrote:
@M_Smart007 wrote:
@coldfusion wrote:

"If you already have a checking and/or savings account with WF that tends to improve ones odds."
Did not improve my odds for a CLI ..on the AA letter they used something to the effect of;
"You leave $100 in checking, and $20 in savings, and you expect a CLI?"

Not the exact verbage ..You get my drift.

So IMHO, having a stagnant checking/savings at WF .. actually works against you.
OP is asking about applying for a new card, not a CLI, and a bit of research should uncover that I'm on the correct track.

And this is for a application for NEW account ....

https://ficoforums.myfico.com/t5/Credit-Card-Applications/wells-fargo-credit-card-denial/m-p/6161119

Re: Odds of getting approved for Wells Fargo Propel or US Bank Altitude Reserve

Remedios — Wed, 17 Mar 2021 22:13:33 GMT

@M_Smart007 wrote:
@coldfusion wrote:
@M_Smart007 wrote:
@coldfusion wrote:

"If you already have a checking and/or savings account with WF that tends to improve ones odds."
Did not improve my odds for a CLI ..on the AA letter they used something to the effect of;
"You leave $100 in checking, and $20 in savings, and you expect a CLI?"

Not the exact verbage ..You get my drift.

So IMHO, having a stagnant checking/savings at WF .. actually works against you.
OP is asking about applying for a new card, not a CLI, and a bit of research should uncover that I'm on the correct track.
And this is for a application for NEW account ....
https://ficoforums.myfico.com/t5/Credit-Card-Applications/wells-fargo-credit-card-denial/m-p/6161119

Nothing in the post says open an account and stash $20.00

What is says is "if you already.." indicating that if OP uses WF as their primary banking institution, they might have somewhat better chance of approval.

Re: Odds of getting approved for Wells Fargo Propel or US Bank Altitude Reserve

Remedios — Wed, 17 Mar 2021 22:53:34 GMT

@SFLSpotter9210 wrote:
Just out of curiousity I know I'm on a very steep climb of a mountain to get either of these. But do I have a remote chance or not a chance in heck? So Wells Fargo pulls EX and US Bank pulls TU in my area. My TU inquiries are 5 and my EX is 2. My new accounts are as follows 1/6, 5/12, 11/24. Those accounts I referenced doesn't have to be in that exact order meaning I don't need the Propel or the Alititude Reserve could be any of their respective cards they offer. I appreciate your responses in advance. Hope everyone is having a great week thus far.

For AR, you'd need existing "relationship".

That can be a card or DDA.

I personally think you have too many new accounts, but you never know.

I've noticed a bit more relaxed approvals for Cash+ and Altitude Go recently, but I don't know if that translates to Altitude Reserve, also.

I got mine after they implemented stricter UW criteria, and I was 3/12 (one of those being Cash+)

WF, that's probably not going to work out.

Re: Odds of getting approved for Wells Fargo Propel or US Bank Altitude Reserve

SFLSpotter9210 — Wed, 17 Mar 2021 23:41:03 GMT

Yeah I figured as much oh well time in the garden is required you win some you lose some right? Thanks for your insight nonetheless. Hope your doing well this week.

Re: Odds of getting approved for Wells Fargo Propel or US Bank Altitude Reserve

JR_TX — Thu, 18 Mar 2021 01:07:21 GMT

Well don't give up just yet!

If the rumor is true and the Propel is really being retired very soon then I guess it's a dice worth rolling!

Plus with the free money being thrown away by Uncle Sam these days then they might have recalibrated their algorithm just to have a piece of our stimulus pies!

Would you rather have that "What if" question linger in your head forever in case the Propel goes away than say a denial with a couple of lost FICO pts from the HP?

"No Guts No Glory"!

What say you?

Re: Odds of getting approved for Wells Fargo Propel or US Bank Altitude Reserve

SFLSpotter9210 — Thu, 18 Mar 2021 14:49:01 GMT

Ok so I woke up this morning went and got some coffee and got online and came back here and read all the comments again and researched some more here. And finally came to the conclusion that I felt there was a 50/50 chance of approval. So went to Wells Fargo website and looked at all the propel's terms and conditions and their 3% category and looked appealing to me. So I said what the heck it's only a few points on my Experian report and I only have 2 inquiries on there now. Boom the wheel spun like it felt for eternity and screen popped up I immediately thought it was a denial instead congratulations your approved and with a really good SL 10k. So much for the theory of no relationship no soup with Wells. Thanks everyone for all your data I'll be posting in the approvals section here in a moment thanks again really.