topic Please advise. Wells Fargo CLI in Credit Cards

Please advise. Wells Fargo CLI

Anonymous — Wed, 16 Nov 2011 03:37:58 GMT

Hey all.

I have a Wells Fargo credit card that I've had now for about 8 years. The limit is 2,630 and I just (like two weeks ago) paid off the balance in full. I know, I know...shoot me later. So my thing is this. I want a CLI. I checked my credit and it's already reporting a 0 balance. Should I wait to call and request, and is it a hard or soft pull when I ask? Thanks.

Re: Please advise. Wells Fargo CLI

Anonymous — Wed, 16 Nov 2011 03:45:04 GMT

Wait for what? WFNNB is soft.

Re: Please advise. Wells Fargo CLI

Creditaddict — Wed, 16 Nov 2011 03:45:16 GMT

@Anonymous wrote:
Hey all.

I have a Wells Fargo credit card that I've had now for about 8 years. The limit is 2,630 and I just (like two weeks ago) paid off the balance in full. I know, I know...shoot me later. So my thing is this. I want a CLI. I checked my credit and it's already reporting a 0 balance. Should I wait to call and request, and is it a hard or soft pull when I ask? Thanks.

Just one confused question, Are you thinking because you paid your balance in full it would be a bad time to ask for an increase? and you suggesting that you want to put a balance back on it that reports before asking?

What other cards do you have and limits?

and how long were you carrying this balance at what amount?

Re: Please advise. Wells Fargo CLI

Creditaddict — Wed, 16 Nov 2011 03:45:39 GMT

@Anonymous wrote:
Wait for what? WFNNB is soft.

They have Wells Fargo, no WFNNB

Re: Please advise. Wells Fargo CLI

Anonymous — Wed, 16 Nov 2011 03:47:19 GMT

@Creditaddict wrote:
@Anonymous wrote:
Wait for what? WFNNB is soft.
They have Wells Fargo, no WFNNB

Reading two threads, one about WF, and the other about WFNNB. Sorry.

Re: Please advise. Wells Fargo CLI

Anonymous — Wed, 16 Nov 2011 03:47:28 GMT

years ago i had a wells fargo card and they were hard pull for a cli request and never once gave me one. said the "matrix" didn't return a favorable decision on my request.

Re: Please advise. Wells Fargo CLI

Anonymous — Wed, 16 Nov 2011 03:50:08 GMT

I've read that customer initiated CLI's with WF are hard since they apparently give out CLI's for good behavior.

Re: Please advise. Wells Fargo CLI

Creditaddict — Wed, 16 Nov 2011 03:59:41 GMT

I have a friend that is 30 and has banked at wells since he was 16 or 18 and about 4 months ago they cut his credit line from 12k to $2500 because he had been carrying a balance of like 2200.... That is not the kind of bank that I want to do business with... I understand many other factors would go into it but in this case it isn't the case.

I told him about the citi 21 month BT and he was instantly approved with citi for more then $2500.... A LOT MORE, haha BT and move on

Re: Please advise. Wells Fargo CLI

Anonymous — Wed, 16 Nov 2011 04:05:08 GMT

I understand your friends situation. I just want an increase because I've been with them so long!

Re: Please advise. Wells Fargo CLI

Anonymous — Wed, 16 Nov 2011 04:15:28 GMT

had them for years, stuck at 5k when other issuers were bringing me upwards of 15k. still wouldn't budge.

Re: Please advise. Wells Fargo CLI

Anonymous — Wed, 16 Nov 2011 04:15:46 GMT

Wells is a really subpar credit issuer, to be honest. My limit with them is something like $7,700, originally $5,900. Got two $900 CLIs over the last year or two. I haven't used the card in ages, so the numbers might be off a smidgen...

They are by far my lowest limit. I only got the card because I was dating a Wells banker at the time. Bad decision, I know.

Re: Please advise. Wells Fargo CLI

AndySoCal — Wed, 16 Nov 2011 05:50:20 GMT

A couple ot things to consider ...

Since most likely it will be hard inquiry is it worth it? On average each month about what percentage of your credit limti are you using? I know you pay it in full each month. If it is under 20% I would pause and think about it before applying. I have a Chase card and I will not use inquiry for a CLI not worth it. I have another credit card that is been at the same limit for at least 10 years but credit limit is morre than sufficient for what I need it for.

Re: Please advise. Wells Fargo CLI

sandsanta — Wed, 16 Nov 2011 06:07:26 GMT

I just requested and got a CLI today and it was most definitely a hard pull with a bit of negotiation. I had a card with 500$ cli which I PIF every month for the last year, called and asked for a CLI and was finally granted one to 800$ with a stern assurances that they were doing me a favor and taking a huge risk. I've banked with them for over 10 years. I'm going to baby that card for another 6 months and try again, in the name of science.

Re: Please advise. Wells Fargo CLI

AndySoCal — Wed, 16 Nov 2011 06:11:32 GMT

Sandsanta,

I would wait longer than six months to try for a CLI with Wells Fargo. I would be very surprised if it was granted Wells Fargo is very conservative.

Re: Please advise. Wells Fargo CLI

scottwagnon — Wed, 16 Nov 2011 07:02:37 GMT

ok. for some reason wells fargo has more luv for me than anyone on this site, (even more than JMN, wow!) my limit with them is 6700. (i know i am bragging) my last request with them was 1600 cli. they said they rarely cli this much. but for some reason wells fargo has deep luv for me. they keep pushing me to take a line of credit. (they give me LOC privilages on my credit card account, will explain in detail later.)

this is a link to my current credit profile

http://ficoforums.myfico.com/t5/Credit-Cards/How-Many-Credit-Cards-Do-YOU-have/m-p/1034512#M290859

Re: Please advise. Wells Fargo CLI

sandsanta — Wed, 16 Nov 2011 07:49:58 GMT

Andy, perhaps. Credit Unions are starting to look more and more appealing.

Re: Please advise. Wells Fargo CLI

Anonymous — Thu, 17 Nov 2011 19:46:09 GMT

I just called last week and they gave me an $800 increase from $3200 to $4000. I asked for $1000, but I am fine with that. Also it was a soft pull. I called them earlier this year and got it raised from about $2200 to $3200 with a soft pull. Both agents said that it is soft unless I get declined then I can have them pull my report.

Re: Please advise. Wells Fargo CLI

Anonymous — Fri, 18 Nov 2011 10:16:13 GMT

@scottwagnon wrote:
(even more than JMN, wow!)

I know, right? Usually banks love me!