topic Re: Wells Fargo Visa Sig Card pre-qualified offer in Credit Cards

Wells Fargo Visa Sig Card pre-qualified offer

Anonymous — Fri, 25 Apr 2014 21:56:13 GMT

Just got a letter in the mail for the Wells Fargo Visa Sig Card pre-qualified offer. I know this means i'm not promised anything. Does anyone have any experience with this card or approval on this card?

I have a mortgage for 3.5 years and a long checking account history with them. I hate them so I don't know why i'm so intrigued. I want a good BT offer in the future and this is offering one. I guess i'm just being disillusioned by a slick marketing tool the sent me.

Any info on this card or dealing with them on the credit side is useful. Thanks!

Re: Wells Fargo Visa Sig Card pre-qualified offer

Creditaddict — Fri, 25 Apr 2014 22:16:38 GMT

@hwturner17 wrote:
Just got a letter in the mail for the Wells Fargo Visa Sig Card pre-qualified offer. I know this means i'm not promised anything. Does anyone have any experience with this card or approval on this card?

I have a mortgage for 3.5 years and a long checking account history with them. I hate them so I don't know why i'm so intrigued. I want a good BT offer in the future and this is offering one. I guess i'm just being disillusioned by a slick marketing tool the sent me.

Any info on this card or dealing with them on the credit side is useful. Thanks!

I hate them and I thought I might possibly take them out of the HATE category when they sent me pre-approval which I was promptly denied for.

The reps are flat out stupid and if they are not stupid they are mean and don't care so pick whichever is less insulting to you or them depending who you care more about.

*Now I will say I have not seen anyone else get the pre-approvals and then get denied, I think they are usually pretty good which is one of the reasons I took it and I do have baddies on my report so I can't change that, just irritating that they pulled SP and saw that and still sent offers... they say they don't see that on sp (that would be my stupid comment!)

Re: Wells Fargo Visa Sig Card pre-qualified offer

mrsjr — Fri, 25 Apr 2014 22:32:48 GMT

I work at Wells Fargo, and I can tell you that I have NEVER seen someone offered a Visa Signature card and get declined. They don't offer that card to just anyone. The ONLY issues I've had with an approval for the pre-qualified Visa Signature card is:

Unable to verify identity (if the customer has their credit report frozen).

DTI too high. It's going to depend on your income.

I would say go for it since they offered you the Visa Signature card.

Re: Wells Fargo Visa Sig Card pre-qualified offer

CribDuchess — Sat, 26 Apr 2014 01:50:23 GMT

@hwturner17 wrote:
Just got a letter in the mail for the Wells Fargo Visa Sig Card pre-qualified offer. I know this means i'm not promised anything. Does anyone have any experience with this card or approval on this card?

I have a mortgage for 3.5 years and a long checking account history with them. I hate them so I don't know why i'm so intrigued. I want a good BT offer in the future and this is offering one. I guess i'm just being disillusioned by a slick marketing tool the sent me.

Any info on this card or dealing with them on the credit side is useful. Thanks!

Is it for the rewards card? My offer was for the Rewards Visa Signature card. It has 5% on gas, grocery and drug store purchases for the first 6-months. My DH had a pre-qualified offer for this card last August and he was instantly approved. My son and I became AUs on DH's card and we racked up over $1,200 in cash back during the 6-month promo period. I then applied for my own card (had a pre-qualified offer in the online mortgage account) on February 7th this year and was instantly approved. About 4 weeks after my approval, I received a pre-qualified offer in the mail for the exact same card but the offer also provided 10,000 bonus points (worth $100) for spending $2,000 in the first 3 months, plus 0% APR on BTs and purchases for the first 12-months and then 9.99% APR on both purchases and BTs after that.

I was annoyed to receive the offer with the 10,000 bonus points less than a month after being approved for the card. After much run-around and numerous phone calls to Wells Fargo, I got them to add the 10,000 bonus points to my card. I wish I could say that was the end of my annoyance, but just a couple of weeks ago they sent me another pre-qualified offer for the same card I already have, but now the offer is for 20,000 bonus points (worth $200) for spending $2,000 in the first 3-months. Argghh! Being that it is more than 30-days since I was approved for my card, I know they won't add these bonus points to my current card. The offer is valid through May 16, 2014, so if I can get confirmation that I can have two of the same cards with the rewards, I may app for a second card for the 20,000 bonus points. Plus it would give me another 3 months of the 5% on gas, grocery and drug store purchases.

Anyway, I recommend the rewards card. In just a little over 2 months of having my card, I have received $450 in cash back ($100 of that was from the bonus points offer that they added after my calling to request). Good luck if you decide to apply!

Re: Wells Fargo Visa Sig Card pre-qualified offer

One7 — Sat, 26 Apr 2014 04:40:00 GMT

Just out of curiosity, why would you even want the card? The BT sounds good but you can have that with many other cards, I ask that question because they only give you 6 months for their 5% deal and then after that the card is useless. Just my opinion though. From what I hear they are terrible to deal with as well. Good luck with whatever you choose though, and if you do get it ask for one with the chip.

Re: Wells Fargo Visa Sig Card pre-qualified offer

Anonymous — Sat, 26 Apr 2014 04:43:43 GMT

Yeah, the WF VS cards are pretty sweet.. I used to work here as well and can say that customers can't apply for them, they have to have an offer from WF. I've also never seen people get the offer and then get denied..

Re: Wells Fargo Visa Sig Card pre-qualified offer

Anonymous — Sat, 26 Apr 2014 04:52:46 GMT

@mrsjr wrote:
I work at Wells Fargo, and I can tell you that I have NEVER seen someone offered a Visa Signature card and get declined. They don't offer that card to just anyone. The ONLY issues I've had with an approval for the pre-qualified Visa Signature card is:

Unable to verify identity (if the customer has their credit report frozen).
DTI too high. It's going to depend on your income.

I would say go for it since they offered you the Visa Signature card.

Well, I applied and got the 5-7 day message. It said something to the effect of "We need to verify a few pieces of information before we can give you a credit decision"

Is this indicative of anything? My scores accross the board are around 680-690. I have a thick history with them, decent household income. DTI is not off the charts. Not sure what it is exactly. Just wanted to know if this is normal. Will they ask me to verify anything?

Re: Wells Fargo Visa Sig Card pre-qualified offer

Kenny — Sat, 26 Apr 2014 04:55:08 GMT

@hwturner17 wrote:
@mrsjr wrote:
I work at Wells Fargo, and I can tell you that I have NEVER seen someone offered a Visa Signature card and get declined. They don't offer that card to just anyone. The ONLY issues I've had with an approval for the pre-qualified Visa Signature card is:

Unable to verify identity (if the customer has their credit report frozen).
DTI too high. It's going to depend on your income.

I would say go for it since they offered you the Visa Signature card.
Well, I applied and got the 5-7 day message. It said something to the effect of "We need to verify a few pieces of information before we can give you a credit decision"

Is this indicative of anything? My scores accross the board are around 680-690. I have a thick history with them, decent household income. DTI is not off the charts. Not sure what it is exactly. Just wanted to know if this is normal. Will they ask me to verify anything?

Just needs you to call probably to get the approval details and maybe verify address or something silly like that.

Re: Wells Fargo Visa Sig Card pre-qualified offer

asteroidblues86 — Sat, 26 Apr 2014 05:22:27 GMT

FYI there is a better offer. Earlier this week WF sent me an offer for a Visa signature in the mail with the 5x 6month in the select categories and bonus points worth $300 after 2k spend.

Re: Wells Fargo Visa Sig Card pre-qualified offer

Anonymous — Sun, 27 Apr 2014 15:16:45 GMT

@hwturner17 wrote:
Just got a letter in the mail for the Wells Fargo Visa Sig Card pre-qualified offer. I know this means i'm not promised anything. Does anyone have any experience with this card or approval on this card?

I have a mortgage for 3.5 years and a long checking account history with them. I hate them so I don't know why i'm so intrigued. I want a good BT offer in the future and this is offering one. I guess i'm just being disillusioned by a slick marketing tool the sent me.

Any info on this card or dealing with them on the credit side is useful. Thanks!

Wells fargo is closed on the weekends. This is driving me nutts

Re: Wells Fargo Visa Sig Card pre-qualified offer

Anonymous — Sun, 27 Apr 2014 15:58:01 GMT

@One7 wrote:
Just out of curiosity, why would you even want the card? The BT sounds good but you can have that with many other cards, I ask that question because they only give you 6 months for their 5% deal and then after that the card is useless. Just my opinion though. From what I hear they are terrible to deal with as well. Good luck with whatever you choose though, and if you do get it ask for one with the chip.

As cribduchess says, the point is that in those 6 months you can get a lot of rewards. If you are willing to push the envelope a little (OK a lot!) people are reporting $10-20K cashback in 6 months.

Re: Wells Fargo Visa Sig Card pre-qualified offer

Secretary14 — Sun, 27 Apr 2014 19:42:15 GMT

Also be aware, the offer may say Visa Signature but you could also end up with the Visa Platinum. We received the offer and applied (have a banking relationship with them) and were approved. When it came, though, it was Visa Platinum. Called the credit dept and was told you must have a min 720 fico (at time of app) and at least $45k in income. We fell well within these limits but still received the Platinum. Not one single CSR or supervisor could explain it to us. Util was not an issue as it was below 20%. Never would have apped had we known. They also won't tell you which you will get if you do an on-the-phone app. I asked. Go figure.

Re: Wells Fargo Visa Sig Card pre-qualified offer

newUser0 — Sun, 27 Apr 2014 19:57:40 GMT

10K For 6 Months requires, 200K Spend in 6Months so,

Its around 33.333K Per Month.

I think it may be hard to liquadate this much cash

@Anonymous wrote:
@One7 wrote:
Just out of curiosity, why would you even want the card? The BT sounds good but you can have that with many other cards, I ask that question because they only give you 6 months for their 5% deal and then after that the card is useless. Just my opinion though. From what I hear they are terrible to deal with as well. Good luck with whatever you choose though, and if you do get it ask for one with the chip.
As cribduchess says, the point is that in those 6 months you can get a lot of rewards. If you are willing to push the envelope a little (OK a lot!) people are reporting $10-20K cashback in 6 months.

Re: Wells Fargo Visa Sig Card pre-qualified offer

Anonymous — Sun, 27 Apr 2014 20:51:20 GMT

@newUser0 wrote:
10K For 6 Months requires, 200K Spend in 6Months so,
Its around 33.333K Per Month.

I think it may be hard to liquadate this much cash
@Anonymous wrote:
@One7 wrote:
Just out of curiosity, why would you even want the card? The BT sounds good but you can have that with many other cards, I ask that question because they only give you 6 months for their 5% deal and then after that the card is useless. Just my opinion though. From what I hear they are terrible to deal with as well. Good luck with whatever you choose though, and if you do get it ask for one with the chip.
As cribduchess says, the point is that in those 6 months you can get a lot of rewards. If you are willing to push the envelope a little (OK a lot!) people are reporting $10-20K cashback in 6 months.

+1. I was a little taken aback by those numbers. I can't see WF letting anyone get that much cash back without a huge hassel. Good for them if it's been done!

Re: Wells Fargo Visa Sig Card pre-qualified offer

newUser0 — Sun, 27 Apr 2014 21:00:48 GMT

He is right, I have seen many ppl maximizing this WF Card and they churn this again, by closing and applying again.

For me personally, 33K/Month on SINGLE card is bit too much.

Re: Wells Fargo Visa Sig Card pre-qualified offer

Anonymous — Sun, 27 Apr 2014 23:53:39 GMT

@newUser0 wrote:
He is right, I have seen many ppl maximizing this WF Card and they churn this again, by closing and applying again.

For me personally, 33K/Month on SINGLE card is bit too much.

Yes, most people spread it around, I haven't yet (my Blue Cash statement just closed with $29K in MS, which is more than I had intended). But on the time-limited cards, some people go very hard, because of the short time frame.

WF hasn't been successfully churned AFAIK, apart from getting one for the spouse after the first expires.

Re: Wells Fargo Visa Sig Card pre-qualified offer

newUser0 — Mon, 28 Apr 2014 00:14:46 GMT

Amex purposfully gave me a low CL of $1K.

I did ordered for 2GC for $1009, even though it was over the limit, transaction was approved. Then to be on safe side, I did $200 Payment, after which my ORDER was declined and my statement cut at -$186

Just gave up MS on this card. Will need to wait till 6.5 meet and 5% kicks in to do physical instore MS.

Re: Wells Fargo Visa Sig Card pre-qualified offer

One7 — Mon, 28 Apr 2014 06:27:04 GMT

@Anonymous wrote:
@One7 wrote:
Just out of curiosity, why would you even want the card? The BT sounds good but you can have that with many other cards, I ask that question because they only give you 6 months for their 5% deal and then after that the card is useless. Just my opinion though. From what I hear they are terrible to deal with as well. Good luck with whatever you choose though, and if you do get it ask for one with the chip.
As cribduchess says, the point is that in those 6 months you can get a lot of rewards. If you are willing to push the envelope a little (OK a lot!) people are reporting $10-20K cashback in 6 months.

Well that's a crazy amount of money to put through a card to get that much cash back. But it is possible I presume. But after 6 months then what? You're stuck with a plain jane cc where as with freedom or discover or other 5% cards you get it year round in rotating categories. Don't get me wrong though I would have the card, but since I don't have an account there I have to go in to apply, which I don't think I'll do anytime soon. Good luck with the application OP

Re: Wells Fargo Visa Sig Card pre-qualified offer

Anonymous — Mon, 28 Apr 2014 13:28:08 GMT

@One7 wrote:
@Anonymous wrote:
@One7 wrote:
Just out of curiosity, why would you even want the card? The BT sounds good but you can have that with many other cards, I ask that question because they only give you 6 months for their 5% deal and then after that the card is useless. Just my opinion though. From what I hear they are terrible to deal with as well. Good luck with whatever you choose though, and if you do get it ask for one with the chip.
As cribduchess says, the point is that in those 6 months you can get a lot of rewards. If you are willing to push the envelope a little (OK a lot!) people are reporting $10-20K cashback in 6 months.
Well that's a crazy amount of money to put through a card to get that much cash back. But it is possible I presume. But after 6 months then what? You're stuck with a plain jane cc where as with freedom or discover or other 5% cards you get it year round in rotating categories. Don't get me wrong though I would have the card, but since I don't have an account there I have to go in to apply, which I don't think I'll do anytime soon. Good luck with the application OP

It's a different kind of game. Yes, you "use" that card for 6 months, get the rewards, and move on to the next (currently TD Bank, Amex Blue Cash or whatever appears) and never use the card again. Discover and Freedom are in a completely different class, with rewards maxing out (on 5% categories) at $300 a year!

Depending on your goals and where you are in your credit life, getting a card for a short time is quite common, either for offers like this, or to get signing bonuses. Don't do this with a thin file though!

Re: Wells Fargo Visa Sig Card pre-qualified offer

Anonymous — Mon, 28 Apr 2014 15:05:33 GMT

Well, I called the automated line yesterday and recieved a confusing message. It said "Your application has be declined for the following reason. Two most recent paystubs." I applied two days ago so it's not like they asked for the paystubs and I failed to provide them.

I used household income for me and my spouse as the application stated I could. About 71k combined. About $1,200 a month is direct deposited into my wf checking account per month but it'spart of my wife's check. If I used household income and they want paystubs, i'm sure they will want two most recent paystubs from both my wife and myself?