topic Re: Wells Fargo Cards questions in Credit Cards

Wells Fargo Cards questions

CreditScoreImprovement24 — Tue, 01 Apr 2025 23:53:08 GMT

1. Is 12 months without opening a card generally sufficient to obtain say the active cash card or any wells fargo card? 6 months? (***provided everything else is solid of course)

2. Does WF have a 5/24 rule like Chase?

3. I read that after 12 months without opening a new card, it puts you on the "no new revolver scorecard" on credit report.....This should greatly increase chance of approval for cards right?

4. I had a checking account with WF but had opened a couple cards in the past 5 months...so was denied by WF. They seem to be new account sensitive..is this true?

Re: Wells Fargo Cards questions

citymunky — Wed, 02 Apr 2025 01:58:50 GMT

I have read the Wells Fargo dislikes new accounts, I would err on the side of caution and wait the 12 months (I'm sure if this true for the BILT card however).

I have a mortgage with WF, as well as checking/saving accts, but the reason above is one of the reason I does apply for any of their cards.

Re: Wells Fargo Cards questions

ptatohed — Wed, 02 Apr 2025 05:48:07 GMT

I think people over-think things too much. If you want the card, go for it! Good luck. Enjoy!

Re: Wells Fargo Cards questions

quickstep_knoll — Wed, 02 Apr 2025 20:01:14 GMT

In my experience, it's all about overall profile, and I'm not aware of a firm rule from WF. If you have recent high velocity, they would get squirrely. Moreso if you are carrying balances. Less so with a high reported income, for example.

My experience with WF cards was 2 back-to-back, with plenty of inquiries and new accounts within 1 year. This was a few months ago, so in an arguably different macroeconomic environment as well. I think underwriting is generally tighter now compared to even then. But there is no firm 12 month rule. Six should be a good start, but as part of an overall profile: low debt, no derogs, and low velocity.