topic Re: WF Product Change experiences? in Credit Cards

Wells Fargo Product Change

FalconSteve — Sun, 13 Jun 2021 22:12:43 GMT

On July 1, 2021, Wells Fargo is releasing the Active Cash card, which is a 2% Visa card. My wife and I rarely use our WF Propel AmEx and we were considering asking for a product change.

Also What are eveyone's thoughts on the card? I like that it is a VISA, which I have almost no coverage for. It has a 3% FTF, but international travel isn't something I do regularly. It's plastic, so I'd lose my only metal card which stinks (joking, mostly). I'd give up 3% for 2% on some categories, but I don't drive (epilepsy) or eat out much (food allergies).

Re: Wells Fargo Product Change

Remedios — Sun, 13 Jun 2021 22:17:02 GMT

@FalconSteve wrote:
On July 1, 2021, Wells Fargo is releasing the Active Cash card, which is a 2% Visa card. My wife and I rarely use our WF Propel AmEx and we were considering asking for a product change.

Also What are eveyone's thoughts on the card? I like that it is a VISA, which I have almost no coverage for. It has a 3% FTF, but international travel isn't something I do regularly. It's plastic, so I'd lose my only metal card which stinks (joking, mostly). I'd give up 3% for 2% on some categories, but I don't drive (epilepsy) or eat out much (food allergies).

When doing PC with WF, there will be a HP and I believe it will report as a new account.

If you don't mind that, losing SUB, and intro 0% promo, go for it if it makes sense for you.

I'd personally rather just apply for new account

Re: Wells Fargo Product Change

FinStar — Sun, 13 Jun 2021 22:22:34 GMT

Personally, I wouldn't trade Propel for the Active Cash, but if you find no further use for it that's something you can consider. You may have to check with WF as far as current PC policies go. The last known PC DPs were that if a card was PC'd, then it would result in a new account. So far, one member has reported the contrary so best to check with WF in the event you don't want a new account popping up. The other downside, potentially no SUB -- if that matters to you.

Re: Wells Fargo Product Change

FalconSteve — Sun, 13 Jun 2021 23:11:56 GMT

@Remedios wrote:

When doing PC with WF, there will be a HP and I believe it will report as a new account.
If you don't mind that, losing SUB, and intro 0% promo, go for it if it makes sense for you.

I'd personally rather just apply for new account

If it involves a HP, doesn't get a sub, and reports as a new account, that defeats any reason for a PC. What happens if they discontinue a card? (For example, I had a bank initiated PC from Citi years ago).

Re: Wells Fargo Product Change

jj10939 — Sun, 13 Jun 2021 23:11:15 GMT

I have done two PC with WF. It is not a hard pull to do a PC, however, the PC will report as a new account and you will lose the account history on your Propel.

Additionally, your terms may change, for better or worse. In my case, the first PC increased my APR while the second lowered it. So YMMV.

If you qualify for an additional card, I would just open a new account with a HP to get the SUB and 0% APR.

Let us know what you decide to do!

Re: Wells Fargo Product Change

FinStar — Sun, 13 Jun 2021 23:18:32 GMT

@jj10939 wrote:
I have done two PC with WF. It is not a hard pull to do a PC, however, the PC will report as a new account and you will lose the account history on your Propel.

Additionally, your terms may change, for better or worse. In my case, the first PC increased my APR while the second lowered it. So YMMV.

If you qualify for an additional card, I would just open a new account with a HP to get the SUB and 0% APR.

Let us know what you decide to do!

Right.

I have seen a variety of DPs, and the HP is potentially possible, but the one that stands out is the new account reporting.

OP - once the Active Cash card goes "live" give it about a month or so. It's doubtful they'll do any PCs from existing products until the new product has cycled for at least a few weeks. Then, reach out to them and ask about the PC policy -- your account has to be eligible for the PC btw. If the agent mentions anything about closing the Propel, there's your clue.

Re: Wells Fargo Product Change

KatSoDak — Mon, 14 Jun 2021 03:39:21 GMT

DPs for WF

I switched my Platinum card to Cash Wise Visa in February 2020 after opening Propel in Jan 2020 in order share reward points.

No HP.

Kept date of opening of Platinum card which I just verified on my credit report. Cash Wise date of opening is reported as 2013. Edit: and account history when card was Platinum card is reporting.

I recently reallocated funds from Cash Wise to Propel but kept a bit on Cash Wise because it is my oldest open credit card.

I will definitely PC Cash Wise to the new card if possible and reallocate some $$ from Propel to new card which I don't want to close. I use the Propel card for large propane purchases because it codes as gasoline by my supplier.

Re: Wells Fargo Product Change

Loquat — Mon, 14 Jun 2021 01:52:06 GMT

If memory serves me right I believe I read somewhere on this here forum last year there Wells had suspended product changing and moved those folks to another department.

WF Product Change experiences?

Anonymous — Sun, 27 Jun 2021 22:34:54 GMT

So, Curious how peoples experience with a WF product change was.

Was it just like applying for a new card in which they ask your income information, living sittuation etc. and then advised you that your old account will be closed and a new account will be opened?

Read a few rumors that if you stay within processing network they can keep your account history open.

With Active Cash coming i'm curious how this is going to play trying to move from a CashWise. Curious what people have had in the past with WF and a product change...

Re: WF Product Change experiences?

FinStar — Sun, 27 Jun 2021 22:47:31 GMT

My experience with with WF over the years (and several products) -- new account created (regardless of network), older account closed. Eligible for SUB (as applicable) on the PC'd product. It's possible their PC policies may have changed since I did this several years ago, but I'm sure others can chime in.

Also, you can also contact WF and pose the question and get an answer straight from the horse's mouth since they would be the ones that perform them.

Re: WF Product Change experiences?

AverageJoesCredit — Sun, 27 Jun 2021 23:39:29 GMT

I tried once was told sure, had to use a hp and got my CW. Basically i apped for the new account lol, no pc in anyway

Re: WF Product Change experiences?

KatSoDak — Mon, 28 Jun 2021 02:59:40 GMT

Aa I said in the long WF thread on this new card, I PCd from Platinum to Cashwise in early 2020. No HP. The opened-since-date for my Cashwise card on my credit reports is 2014, the date I opened the Platinum card.

I think we will eventually be able to PC to this new card. But I'm also curious to see what the two other new cards WF is going to offer in the near future.

Re: WF Product Change experiences?

Loquat — Mon, 28 Jun 2021 12:15:26 GMT

I tried calling them in September last year and was told that the team that handles product changes had been moved to other departments and that they weren’t allow product changes.

Things may have changed since then but as @FinStar said you should probably give them a call that way you have the most up to date answer.

Re: Wells Fargo Product Change

KINGTRAUMATIC — Wed, 30 Jun 2021 09:24:26 GMT

Just completed the product change to the active cash over the phone. No credit limit decrease, no hard pull, and credit history will continue reporting. Give them a call and they can walk you through the process over the phone.

Re: Wells Fargo Product Change

Loquat — Wed, 30 Jun 2021 14:45:16 GMT

@KINGTRAUMATIC wrote:
Just completed the product change to the active cash over the phone. No credit limit decrease, no hard pull, and credit history will continue reporting. Give them a call and they can walk you through the process over the phone.

Very nice to hear that they're back in allowing product changes.

Re: Wells Fargo Product Change

KatSoDak — Wed, 30 Jun 2021 18:00:14 GMT

I also did the product change today, from Cashwise to Active Cash.

The CSR told me I could do the switch myself via online banking. I asked her to tell me how to do this because I may switch DH's card also at some point. She said it would be an option under card services.

I figured since I already had her service I would let her complete the process for my account, which she did.

After we finished I logged in on DH's account but could not find the link she mentioned. I would say the CSR was incorrect except she was basically reading a script to me since this was her first product change to the new card. She did say the ability to do it myself online was "something new".

Some of the features of the Cashwise card do not transfer to the Active Cash card. I'm sorry I cannot recall them. I do remember that road side assistance and cell phone protection are included with the Active Cash card.

Re: Wells Fargo Product Change

Anonymous — Wed, 30 Jun 2021 20:58:07 GMT

@KatSoDak wrote:
I also did the product change today, from Cashwise to Active Cash.

The CSR told me I could do the switch myself via online banking. I asked her to tell me how to do this because I may switch DH's card also at some point. She said it would be an option under card services.

I figured since I already had her service I would let her complete the process for my account, which she did.

After we finished I logged in on DH's account but could not find the link she mentioned. I would say the CSR was incorrect except she was basically reading a script to me since this was her first product change to the new card. She did say the ability to do it myself online was "something new".

Some of the features of the Cashwise card do not transfer to the Active Cash card. I'm sorry I cannot recall them. I do remember that road side assistance and cell phone protection are included with the Active Cash card.

Curious, What did they ask for during the product change? Did they for income, employement, etc. like a new application that took some time to complete or was it just a okay let me change it for you?

Perhaps the product change on your own wont come until the card is actually on the site.

Re: WF Product Change experiences?

Andypanda — Wed, 30 Jun 2021 23:01:20 GMT

Just to add another DP, I was just able to PC my cash wise to the new active cash card. No hp and credit history remains the same. Last few years I have been app happy, so I am willing to loose out on the SUB in exchange for the benefits to my credit report and immediate access to the extra .5% back. And the big factor for me is it being a visa, i can use it at Costco, and not wait up to a year for the rewards. I will still use my costco visa for gas, big ticket items bought at costco since the Costco visa has extended warranty protection and the active cash does not, and for any purchases made through Costco travel (5% back, 3% from the costco visa, and 2% being an executive member.)

Re: Wells Fargo Product Change

KatSoDak — Thu, 01 Jul 2021 18:06:49 GMT

If you want to PC online here is what you do:

1.Log in to Wells Fargo online banking (full site)

2.Click on the credit card you want to PC

3.On right side of page Chose "View More Services"

4.Choose "Switch My Credit Card"

Re: Wells Fargo Product Change

Anonymous — Thu, 01 Jul 2021 18:45:59 GMT

@KatSoDak wrote:
If you want to PC online here is what you do:

1.Log in to Wells Fargo online banking (full site)
2.Click on the credit card you want to PC
3.On right side of page Chose "View More Services"
4.Choose "Switch My Credit Card"

Thanks!

That was rather easy to change. They should make it more obvious down the road instead of hidden like that tho