topic Re: Wells Fargo denied credit line for Home Improvement card - now they are calling in Credit Cards

Wells Fargo denied credit line for Home Improvement card - now they are calling

Anonymous — Wed, 04 Sep 2013 17:14:45 GMT

So long story short, we needed a new furnace, my husband applied to the Home Improvements line of credit and was denied on the spot. WF has started calling the number we provided on the application. He does no other business with them. Could it be that they are thinking about doing a recon? Or is this just about them being obnoxious and him being added to a bad call list.

Re: Wells Fargo denied credit line for Home Improvement card - now they are calling

Creditaddict — Wed, 04 Sep 2013 18:10:00 GMT

Home depotvis backed bi citi so not sure about wells calling you!

Re: Wells Fargo denied credit line for Home Improvement card - now they are calling

tattooedhusker — Wed, 04 Sep 2013 18:19:07 GMT

@Creditaddict wrote:
Home depotvis backed bi citi so not sure about wells calling you!

I believe you misinterpreted the OP. It wasn't an app for Home Depot, it was through WF.

Re: Wells Fargo denied credit line for Home Improvement card - now they are calling

Anonymous — Wed, 04 Sep 2013 18:31:32 GMT

It was an application for this product http://retailservices.wellsfargo.com/homeprojects.html

My question is: is WF retail services going to do a recon on their own? He has really good income and just doesnt have a lot of credit so he doesnt have a great score if anyone - not a machine - looks at his app he might be approved. Just wondering if he should answer and talk to them or be all "STOP CALLING ME"

Re: Wells Fargo denied credit line for Home Improvement card - now they are calling

coldnmn — Wed, 04 Sep 2013 18:34:18 GMT

It could be they need more information after a real person checked your app. The computer didn't like something and turned you down. call!

Re: Wells Fargo denied credit line for Home Improvement card - now they are calling

Anonymous — Wed, 04 Sep 2013 18:43:07 GMT

Now I get to tell my husband he needs to call. Hoping its good news. Even if we get just enough for the furnace and we can do the a/c later it would be ideal.

Re: Wells Fargo denied credit line for Home Improvement card - now they are calling

myjourney — Wed, 04 Sep 2013 18:51:12 GMT

@Anonymous wrote:
Now I get to tell my husband he needs to call. Hoping its good news. Even if we get just enough for the furnace and we can do the a/c later it would be ideal.

Sounds like WF needed more info .........Good luck

Re: Wells Fargo denied credit line for Home Improvement card - now they are calling

KIPPIE12 — Wed, 04 Sep 2013 23:14:12 GMT

Sounds like computer kicked it to manual review. Hope it goes through, and you get your new system!

Re: Wells Fargo denied credit line for Home Improvement card - now they are calling

CribDuchess — Wed, 04 Sep 2013 23:29:49 GMT

@Anonymous wrote:
So long story short, we needed a new furnace, my husband applied to the Home Improvements line of credit and was denied on the spot. WF has started calling the number we provided on the application. He does no other business with them. Could it be that they are thinking about doing a recon? Or is this just about them being obnoxious and him being added to a bad call list.

This credit card appears to be a business card rather than a personal card. Or at least that is what came up when I clicked the link you provided below in a response.

If it is a business card, that could be the reason for the denial if your husband doesn't have a business.

Re: Wells Fargo denied credit line for Home Improvement card - now they are calling

IWOL — Thu, 05 Sep 2013 06:07:14 GMT

I actually just got approved two days ago for this card through Wells. It's kind of a strange account. It's callc the Home Projects Visa and is geared towards financing things like new ac, appliances etc. you get a line of credit that can be used with dealers that are part of the Wells program. It seems that there are quite a few. You also get an actual Visa card with only a very small portion of the total line available to use for purchases anywhere Visa is accepted.

I was approved for a total of $9500 and of that I have $1100 available, on the Visa.

I applied for this account to finance a new A/C. The financing terms for "special" projects are determined by the contractor you use and they are not very good.

They offered my 12 months same as cash or 9.99% with a fixed monthly payment of 2%.

You can by an A/C through lowes and get 36 months at 5.99%, which is a much better deal. I'm sorry that I even applied for this card now and I decided to go with the 12 months same as cash and will pay this off before the end of the 12 month term.

The other major downside is the way this credit line/card reports. After speaking to a CSR I was told that the entire line will report as revolving and not as an installment account. I'm spending $6500 on the new A/C so of rather next few months my Util is going to be higher than I would like on my revolving lines.

By the way I was approved for this card with a 660 TU. hope this info is useful for anyone who might be looking at this card.

Re: Wells Fargo denied credit line for Home Improvement card - now they are calling

maiden_girl — Thu, 05 Sep 2013 13:08:51 GMT

Maybe they need more info is my guess. I would check out other financing options. Wells Fargo tends to be higher than other banks when it comes to interest rates.