More data points for the Forum for a WELLS FARGO application.
Personal and Business dat points in signature.
I have a business checking account open since September 2018. $500.00 opening bonus for very little effort. I had Chase business checking since June 2018 but I couldn't use their ACH payment system at that time as I started my business as an LLC that month. I worked through the payroll hassle and when opening the WF Business checking for the bonus, WF had this DIRECT PAY option for payroll/vendors. I used it from that week on for business checking until May 2019 when CHASE allowed me to use ACH service with them. With Chase, I can add a vendor today and pay them today. Inquired today with Business banker at WF branch of having the same and they don't have that option.
Business banker did say I was pre-qualified for the WF BUSINESS PLATINUM with a $500.00 bonus for 3k spend in 90 days. I asked if this would be a personal guarantee and a hard pull. Personal guarantee as an LLC was confirmed. Hard pull was iffy as it might not be in his experience since they may just use the soft pull from Equifax for the month. WF provides an Equifax FICO 9 score. I went ahead with the application as there is 15 months no interest on purchases and can organically spend to meet the bonus.
Application went to review. Got home 30 minutes later and application number was checked which gave me a starting line of $20k.
No hard pull showing anywhere.
I am going to keep this WF Business checking account open and keep $10k deposited. The direct pay meets the requirments that many banks require for bonuses and to keep the accounts free. I can treat it like a personal account and use that 10k to move money around monthly without messing with my true business account at Chase.
Take care all!
Signature as of 10/01/21. Clean file. MYFICO 3B. I live in Green Bay, Wisconsin for those tracking what credit bureau is pulled by location.
FICO 8 EQ=796 TU=799 EX=801
FICO 9 EQ=816 TU=816 EX=813
MORTGAGE SCORES EQ=773 TU=782 EX=787
AAoA=4Y3M AoOA=11Y4M AoYA=5M
VANTAGE SCORES EQ=825 TU=813 EX=813
BUSINESS CREDIT SCORES. Formed LLC 6/1/18. YEARLY SALES=3M
EXPERIAN BUSINESS CREDIT SCORE=77 EXPERIAN FINANCIAL STABILITY RISK RATING=1 SMALL BUSINESS SCORE SERVICE SCORE=210 D+B=80
HARD PULLS last 12 months EQ=1 TU=1 EX=1 Three new accounts reporting.
HARD PULLS last 24 months EQ=1 TU=2 EX=2 Four new accounts reporting.
INCOME=$290k as of 10/01/21 for income stated on applications. DTI=2.5% Business sales 300k monthly.
MAIN BUSINESS and PERSONAL BANKING=CHASE
MORTGAGE=800K 03/21 2.25%
INSTALLMENT LOAN. Vehicle loan opened 08/18. Zero down. 45K at 0% for 60 months LINCOLN FINANCE.
OPEN PERSONAL ACCOUNTS/OPEN DATE
DISCOVER=34k 10/17 CITI COSTCO VISA=16k 06/18 US BANK CASH+=7k 06/18 PENFED PLATINUM REWARDS=10k 07/18 CHASE FREEDOM=10k 07/19 CHASE SAPPHIRE RESERVE=14.1k 09/20 AMEX PLATINUM= NPSL 04/21 AMEX HILTON SURPASS=10k 05/21
OPEN BUSINESS ACCOUNTS/OPEN DATE
CHASE INK CASH=10k 07/18 AMEX MARRIOT BONVOY=10k 02/19 CHASE INK UNLIMITED=10k 09/19 US BANK BUSINESS CASH=29k 10/19 WELLS FARGO BUSINESS PLATINUM=20k 11/19 AMEX LOWES BUSINESS=15k 11/19 AMEX BLUE BUSINESS PLUS=35k 02/20 CHASE INK PREFERRED=50k 07/20 AMEX BUSINESS GOLD=NPSL 09/20 AMEX BUSINESS PLATINUM=NPSL 05/21 CHASE BUSINESS LINE OF CREDIT= 225k 09/21
