topic Re: Wells Fargo Credit Card Data Points Needed for Approval in Credit Cards

Wells Fargo Credit Card Data Points Needed for Approval

biznob — Tue, 13 Dec 2022 22:47:13 GMT

Hello all and Happy Holidays.

What is the easiest Wells Fargo Card if there is an easiest and what are the general data points for approval?

THanks for the info/education.

Re: Wells Fargo Credit Card Data Points Needed for Approval

FireMedic1 — Tue, 13 Dec 2022 22:50:06 GMT

Welcome @biznob

Do you have a banking relationship with them? Scores, baddies, more info please.

Re: Wells Fargo Credit Card Data Points Needed for Approval

NoMoreE46 — Wed, 14 Dec 2022 02:48:34 GMT

Right now, there are five cards (one co-branded with Hotels.com) for new apps.

The four core cards are listed- easiest to hardest (and I am guessing):

Reflect
Active Cash
Autograph
Bilt

You may want to check the pre-selected offers: Check Your Pre-Selected Credit Card Offers | Wells Fargo

As far as specific DPs, you will need to use the Search all content function. Try "Wells Fargo Reflect" "Wells Fargo Active Cash" etc. and you can gather DPs from those approval posts.

Re: Wells Fargo Credit Card Data Points Needed for Approval

kickhard88 — Wed, 14 Dec 2022 04:06:35 GMT

i got a pre selected mailer the other day for the reflect card and wells fargo is known to pull ex my score is only 661 but no way im pulling the trigger on that probably just marketing

Re: Wells Fargo Credit Card Data Points Needed for Approval

biznob — Wed, 14 Dec 2022 14:28:40 GMT

the only relationship i have had with them is a new car loan and a car loan that was paid off many years ago. Never have had a checking/savings account with them.

Zero Baddies on my reports.

Scores 740-760

I have a lot of new accounts and INQ's.

Re: Wells Fargo Credit Card Data Points Needed for Approval

CreditCuriosity — Wed, 14 Dec 2022 19:01:07 GMT

One thing I would like to add if you have alot of credit and only carry a small balance on one or two cards you will have alot more tough time being approved. I forgot the exact reasoning I get but something like to little debt to outstanding credit or something like that. They aren't really concerned hugely on scores as seen people in mid to. upper 600's approved while people like myself and others in 800 declined. @Anonymous believe had a similar experience or decline reason as mine, maybe his memory will serve better. I give up on them as tried several times over the last four years and always the same. Just write them off as some lenders just aren't for everyone. Have applied with a bank account and without a bank account with them with same results of declined

Re: Wells Fargo Credit Card Data Points Needed for Approval

biznob — Wed, 14 Dec 2022 15:53:43 GMT

This would be me. im usually at 1% utilization.

Re: Wells Fargo Credit Card Data Points Needed for Approval

Anonymous — Wed, 14 Dec 2022 17:44:05 GMT

@CreditCuriosity wrote:
One thing I would like to add if you have alot of credit and only carry a small balance on one or two cards you will have alot more tough time being approved. I forgot the exact reasoning I get but something like to little debt to outstanding credit or something like that. They aren't really concerned hugely on scores as seen people in mid to. upper 600's approved while people like myself and others in 800 declined. @Anonymous believe had a similar experience or decline reason as mine, maybe his memory will serve better. I give up on them as tried several times over the last four years and always the same. Just write them off as some lenders just aren't for everyone. Have had and also then no bank accounts with them as neither seemed to sway them for myself.

Similar probably. The report gave my score as 850 but I was declined because I had balances on more than one card in the last 6 months. When I tried to explain ("DO YOU KNOW WHO I AM!!!" OK, not that) that these were just small balances PIF each month she said something like "If you have concerns over the accuracy of the reporting, please contact the bureau" Since this would suggest that either you must AZ (i.e. all Zero before reporting) or AZEO using the SAME reporting card for 6 months, and I doubt many do that, my account with small overall balances presumably appeared unappealing.

This was for their Visa Signature card (at the time at least, called just that) then enhanced the value of the points on some other cards

Re: Wells Fargo Credit Card Data Points Needed for Approval

Remedios — Wed, 14 Dec 2022 19:59:04 GMT

I have two cards, Propel and Active Cash.

No other "relationship" with WF

Both were instant approvals, first one for $12,000.00, second one $18,000.

First application, Fico a wee bit over 800.

Very low (unplanned) utilization, I believe only two cards were reporting.

Second application, 790. I was certain it would get denied because I forgot I was testing what happens when 2/3 of cards report balance 🤷‍♀️

Re: Wells Fargo Credit Card Data Points Needed for Approval

CreditCuriosity — Wed, 14 Dec 2022 20:42:21 GMT

@Remedios wrote:
I have two cards, Propel and Active Cash.
No other "relationship" with WF
Both were instant approvals, first one for $12,000.00, second one $18,000.

First application, Fico a wee bit over 800.
Very low (unplanned) utilization, I believe only two cards were reporting.

Second application, 790. I was certain it would get denied because I forgot I was testing what happens when 2/3 of cards report balance 🤷‍♀️

Interesting DP's as well..When you applied for their first card did you have a "fair" amount of credit and several cards reporting some balances? It appears once you get in with WF on a CC product others ones are easier to get in the future just what I have seen from the approval/denials parts of forum. I am just baffled I haven't been able to crack them lol, just frustrating. I get it I am not what they are looking for, but still doesn't mean I don't want to know how they work. I applied right after my move when I had no credit product for 16+ months or whatever it was and was still a denial due to above mentioned. Whether that is legit reason or they just don't like that amount of credit I have available I am unsure. Oh well the only "big" bank that I cannot crack.

Re: Wells Fargo Credit Card Data Points Needed for Approval

Remedios — Wed, 14 Dec 2022 21:28:39 GMT

@CreditCuriosity wrote:
@Remedios wrote:
I have two cards, Propel and Active Cash.
No other "relationship" with WF
Both were instant approvals, first one for $12,000.00, second one $18,000.

First application, Fico a wee bit over 800.
Very low (unplanned) utilization, I believe only two cards were reporting.

Second application, 790. I was certain it would get denied because I forgot I was testing what happens when 2/3 of cards report balance 🤷‍♀️
Interesting DP's as well..When you applied for their first card did you have a "fair" amount of credit and several cards reporting some balances? It appears once you get in with WF on a CC product others ones are easier to get in the future just what I have seen from the approval/denials parts of forum. I am just baffled I haven't been able to crack them lol, just frustrating. I get it I am not what they are looking for, but still doesn't mean I don't want to know how they work. I applied right after my move when I had no credit product for 16+ months or whatever it was and was still a denial due to above mentioned. Whether that is legit reason or they just don't like that amount of credit I have available I am unsure. Oh well the only "big" bank that I cannot crack.

I think I had around $400K in CLs when I applied for Propel.

I don't think it's just how much available credit one has, I think it's about timing.

WF has been trying to take a bigger piece of CC Pie (not that I'm calling you a pie) in the past couple of years, I applied when I noticed increased number of Propel approvals

Active Cash, they were really handing that one out.

I think WF is always going to be wishy washy when it comes to CC lending, or maybe they do frequent UW course adjustments.

KiB applied at the same time as me and got extra chunky SL from them.

He's got over $1MM in credit lines, he's also got one of biggest approvals from them.

Cannot remember exactly how much, I think $25K

Re: Wells Fargo Credit Card Data Points Needed for Approval

AlanGJP — Wed, 14 Dec 2022 22:35:38 GMT

@NoMoreE46 wrote:
Right now, there are five cards (one co-branded with Hotels.com) for new apps.
The four core cards are listed- easiest to hardest (and I am guessing):
Reflect
Active Cash
Autograph
Bilt
You may want to check the pre-selected offers: Check Your Pre-Selected Credit Card Offers | Wells Fargo

As far as specific DPs, you will need to use the Search all content function. Try "Wells Fargo Reflect" "Wells Fargo Active Cash" etc. and you can gather DPs from those approval posts.

I PC'ed Active Cash to Autograph, and I was recently approved for BILT.

DP's: When app'ed for first card ~720-740 FICO, no baddies, maybe .5% util with no one card over 1% and I have a 5+ year checking/savings relationship with them. First was a "we'll get back to you, approved in 24 hours", second (760-770'ish FICO) was instant approval.

I was pre-qualified (on their site) for the Autograph, no pre-quals listed when I app'ed for the BILT.

With that said, I've heard WF can be hard to get approved for. I believe my banking relationship (and ~100k in savings) helped.

Re: Wells Fargo Credit Card Data Points Needed for Approval

coldfusion — Wed, 14 Dec 2022 23:18:23 GMT

@CreditCuriosity wrote:
@Remedios wrote:
I have two cards, Propel and Active Cash.
No other "relationship" with WF
Both were instant approvals, first one for $12,000.00, second one $18,000.

First application, Fico a wee bit over 800.
Very low (unplanned) utilization, I believe only two cards were reporting.

Second application, 790. I was certain it would get denied because I forgot I was testing what happens when 2/3 of cards report balance 🤷‍♀️
Interesting DP's as well..When you applied for their first card did you have a "fair" amount of credit and several cards reporting some balances? It appears once you get in with WF on a CC product others ones are easier to get in the future just what I have seen from the approval/denials parts of forum. I am just baffled I haven't been able to crack them lol, just frustrating. I get it I am not what they are looking for, but still doesn't mean I don't want to know how they work. I applied right after my move when I had no credit product for 16+ months or whatever it was and was still a denial due to above mentioned. Whether that is legit reason or they just don't like that amount of credit I have available I am unsure. Oh well the only "big" bank that I cannot crack.

I'll briefly chime in as I have some parallels, but some differences.

I was close to, if not over, 1MM in unsecured credit when I was approved for my Propel and I was also a few months removed from my 2 year bender when I was averaging a new card every 2 weeks. The 1 thing I did do, given their reputation as being somewhat of a relationship bank, was open up a checking account with them about 6 months prior and I waited until an online prequal for their cashback VIsa appeared, which I did not want. I took that prequal as an omen that I should go ahead and take a stab at a Propel which lead to an instant approval. I routinely PIF, but I also normally had (and still have) 7-10 cards reporting a balance at any given time.

Remi got a much better SL on her Propel than I did, but I did not get a toy limit. I've never tried for a CLI or another card with them, and while the card has not been banished to the sock drawer it doesn't get heavy use either.

Re: Wells Fargo Credit Card Data Points Needed for Approval

wasCB14 — Wed, 14 Dec 2022 23:26:14 GMT

@biznob wrote:
Hello all and Happy Holidays.

What is the easiest Wells Fargo Card if there is an easiest and what are the general data points for approval?

THanks for the info/education.

What's the particular appeal of WF?

Re: Wells Fargo Credit Card Data Points Needed for Approval

Anonymous — Thu, 15 Dec 2022 00:52:24 GMT

@Anonymous wrote:
Similar probably. The report gave my score as 850 but I was declined because I had balances on more than one card in the last 6 months. When I tried to explain ("DO YOU KNOW WHO I AM!!!" OK, not that) that these were just small balances PIF each month she said something like "If you have concerns over the accuracy of the reporting, please contact the bureau" Since this would suggest that either you must AZ (i.e. all Zero before reporting) or AZEO using the SAME reporting card for 6 months, and I doubt many do that, my account with small overall balances presumably appeared unappealing.

This was for their Visa Signature card (at the time at least, called just that) then enhanced the value of the points on some other cards

Just to add: I had recently paid off my mortgage, which for the previous 3 years or so had been serviced by Wells Fargo. During that time i had received numerous mailings (cannot recall if they were preapproved but I think some were) for that card. I guess I ignored them for several months, broke up with them, and then came crawling back asking for another product. So they said no!

OK, anthropomorphizing a TBTF banks!

Re: Wells Fargo Credit Card Data Points Needed for Approval

Jeffster1 — Thu, 15 Dec 2022 01:02:33 GMT

I had a 35 year relationship with WF, but IIB my WF CC IN 2017. It was a 100 percent 13. They didn't touch my remaining accounts. Bof A became my main bank but I kept small accounts at WF. My DC was 1/21.

I thought they hated me BUT I was instantly approved for the WF BILT card with an SL of $30,000 in October. They pulled EQ. My scores are in my sig. I think I was at 8/24 or thereabouts.

I'm sticking with them...letting my BILT age, and then going for the WF Cashback.

Re: Wells Fargo Credit Card Data Points Needed for Approval

OmarGB9 — Thu, 15 Dec 2022 05:53:52 GMT

@coldfusion wrote:
@CreditCuriosity wrote:
@Remedios wrote:
I have two cards, Propel and Active Cash.
No other "relationship" with WF
Both were instant approvals, first one for $12,000.00, second one $18,000.

First application, Fico a wee bit over 800.
Very low (unplanned) utilization, I believe only two cards were reporting.

Second application, 790. I was certain it would get denied because I forgot I was testing what happens when 2/3 of cards report balance 🤷‍♀️
Interesting DP's as well..When you applied for their first card did you have a "fair" amount of credit and several cards reporting some balances? It appears once you get in with WF on a CC product others ones are easier to get in the future just what I have seen from the approval/denials parts of forum. I am just baffled I haven't been able to crack them lol, just frustrating. I get it I am not what they are looking for, but still doesn't mean I don't want to know how they work. I applied right after my move when I had no credit product for 16+ months or whatever it was and was still a denial due to above mentioned. Whether that is legit reason or they just don't like that amount of credit I have available I am unsure. Oh well the only "big" bank that I cannot crack.
I'll briefly chime in as I have some parallels, but some differences.

I was close to, if not over, 1MM in unsecured credit when I was approved for my Propel and I was also a few months removed from my 2 year bender when I was averaging a new card every 2 weeks. The 1 thing I did do, given their reputation as being somewhat of a relationship bank, was open up a checking account with them about 6 months prior and I waited until an online prequal for their cashback VIsa appeared, which I did not want. I took that prequal as an omen that I should go ahead and take a stab at a Propel which lead to an instant approval. I routinely PIF, but I also normally had (and still have) 7-10 cards reporting a balance at any given time.

Remi got a much better SL on her Propel than I did, but I did not get a toy limit. I've never tried for a CLI or another card with them, and while the card has not been banished to the sock drawer it doesn't get heavy use either.

Isn't an omen a bad thing though? 🤔

Re: Wells Fargo Credit Card Data Points Needed for Approval

Aim_High — Thu, 15 Dec 2022 16:49:54 GMT

@biznob wrote:
What is the easiest Wells Fargo Card if there is an easiest and what are the general data points for approval?

My guess for easiest card is the Reflect since basic no rewards and lower APR cards are often lender's more entry-level cards. I've seen lower limit approvals in the mid to upper 600's.

Yes, Wells Fargo does seem somewhat relationship-oriented. Opening deposit accounts and giving them good usage might help grease the slides for an offer or approval.

I had two previous co-branded WF credit cards (closed at my request) and had been Co-owner of two long time and current banking accounts opened for my daughters. They sent me a pre approval for Cash Wise so I applied towards the end of two years of credit-seeking. Approved for $10.5K as my third card of 2020. Not a high approval compared to other cards but it was towards the end of my newer cards at that time. And in 2020, WF was tighter with approvals than they seem now. My FICO scores were 800+. Low Debt-to-income, thick clean file.

I'm not aware of certain hard cut-offs for new accounts and inquiries with them similar to Chase 5/24. However, I'd say the lower your scores or the more derogatories, fewer new accounts and inquiries will improve approval odds. High scores with thick clean files can probably get away with more new credit activity to an extent.

Re: Wells Fargo Credit Card Data Points Needed for Approval

dlister70 — Thu, 15 Dec 2022 15:02:50 GMT

@biznob wrote:
the only relationship i have had with them is a new car loan and a car loan that was paid off many years ago. Never have had a checking/savings account with them.

Zero Baddies on my reports.
Scores 740-760
I have a lot of new accounts and INQ's.

I applied for the WF Reflect card in July. I was looking for a balance transfer card, and had been denied a US Bank card. I couldn't remember what my score was, so I went back and looked at the post. Here's what I wrote in July:

"Today I applied for the Wells Fargo Reflect which has 18 months of 0%, but adds 3 more months if you pay the minimum on time, so I guess it's really a 21 month 0% card. I was instantly approved for $14,000 which is more than enough for the balance transfer. They ran Experian which is at a 737 at the moment. The only prior relationship that I've had with WF was a contractor credit line when I had central air conditioning installed and the installer had 2 years of 0% financing through WF. I paid that off with no hiccups but had forgotten that it was a Wells Fargo account until I got approved for this Reflect card and it showed that I already had a user ID with WF online."

So I was similar to your data points in July. I do have late payments on my report, but they're nearly 7 years old now. Still haven't dropped yet though. Lots of inquiries, a new Discover card 3 months prior to this app, and an overall utilization of around 15% at the time of the app. You mentioned that your utilization was only 1%, so that might make a difference. Maybe they're hoping to get interest out of me, and I guess they did with the balance transfer fee, but otherwise, I won't be paying any interest.

Re: Wells Fargo Credit Card Data Points Needed for Approval

AlanGJP — Thu, 15 Dec 2022 15:36:18 GMT

@coldfusion wrote:
I've never tried for a CLI or another card with them, and while the card has not been banished to the sock drawer it doesn't get heavy use either.

FWIW: CLIs with WF are a painless process, quick and painless SP (make sure to verify - of course) phone call. They're pretty loose with their CLIs after a probation period with new cards.