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850 FICO score and still not preapproved

SouthJamaica
Mega Contributor

Re: 850 FICO score and still not preapproved


@Meanmchine wrote:

Currently I have a checking and savings with Wells Fargo

Also Im 1/12 5/24 with 1 EX inq

 

Checked my free Fico score

 

Screenshot 2023-01-23 at 21-39-15 FICO® Score.png

My very first 850 score ( not counting Fico 900 models )

 

I then checked my preapprovals and got this

 

Screenshot 2023-01-23 at 21-42-23 Find Your Credit Card Offer Wells Fargo.png

 

I guess theres no Autograph card for me in the foreseeable future

 

 

 


If I waited for a preapproval before applying I wouldn't have many cards.


Total revolving limits 743700 (625200 reporting) FICO 8: EQ 705 TU 717 EX 687

Message 11 of 17
Meanmchine
Super Contributor

Re: 850 FICO score and still not preapproved


@SouthJamaica wrote:

@Meanmchine wrote:

Currently I have a checking and savings with Wells Fargo

Also Im 1/12 5/24 with 1 EX inq

 

Checked my free Fico score

 

Screenshot 2023-01-23 at 21-39-15 FICO® Score.png

My very first 850 score ( not counting Fico 900 models )

 

I then checked my preapprovals and got this

 

Screenshot 2023-01-23 at 21-42-23 Find Your Credit Card Offer Wells Fargo.png

 

I guess theres no Autograph card for me in the foreseeable future

 

 

 


If I waited for a preapproval before applying I wouldn't have many cards.


Citibank wont preapprove me either but I believe that is for other reasons

Their Custom Cash card is on my very short list for my next app




3/2016 EX 644 CK-TU 642 CK-EQ 660 WalMart- 671.
>2/2023 EX 850 EQ 850 TU 850 (F8)
Message 12 of 17
CYBERSAM
Senior Contributor

Re: 850 FICO score and still not preapproved


@Meanmchine wrote:

@SouthJamaica wrote:

If I waited for a preapproval before applying I wouldn't have many cards.


Citibank wont preapprove me either but I believe that is for other reasons

Their Custom Cash card is on my very short list for my next app


We are hyping you out for an app spree! But don't lol

 

I never got any Chase prequal or mailer till last year that I cold apped Amazon. Now getting plenty of mailers from Chase.

With WF I got declined for Propel when it came out for having too many inqs. Now getting mailers from them all the time.

I believe you have to get on their radar somehow before getting approvals.







              
Message 13 of 17
RedKhaos
Established Member

Re: 850 FICO score and still not preapproved

Wells Fargo still has no idea what they're doing with credit cards. That's my opinion and I stand by it...as a WF account holder no less. I've heard banking relationship matters for their CC applications, went into a branch and was told immediately it absolutely does not matter; manager didn't even bother to look up my account info.

 

OP, if your profile is otherwise healthy along with the 850, I'd just take the chance. Their pre-select sucks anyway. I trust it the least of any of these banks' pre-approval/pre-qualified/pre-select things.

Message 14 of 17
Drifter73
Frequent Contributor

Re: 850 FICO score and still not preapproved

As others have mentioned, it seems the Wells Fargo algorithm prefers potential consistent use/spend every month over someone that just collects cards for subs and pif on single small purchases periodically.

 

I've started to notice more institutions that want to be a daily driver in someone's card deck rather than just another card.

 

The more cards one has with little to no spend/use, the more they may want to avoid being in that wallet, regardless of scoring. imo 

Start : 07/20 | Status : Gardening till next app - Jun. 2023
Utilization average = 6%+. 99%+ Pif ea. Mo. | No collections. No missed payments
(Updated 03/24/23) - Ex-744 / Tu-678 / Eq-696 / Fs-734 | AAoA - 1yr. | New Accounts - 15/24 - 8/12 - 5/6
Personal Credit Cards

Business Credit Cards

BLOCs and Working Capital
Message 15 of 17
Meanmchine
Super Contributor

Re: 850 FICO score and still not preapproved


@CYBERSAM wrote:

@Meanmchine wrote:

@SouthJamaica wrote:

If I waited for a preapproval before applying I wouldn't have many cards.


Citibank wont preapprove me either but I believe that is for other reasons

Their Custom Cash card is on my very short list for my next app


We are hyping you out for an app spree! But don't lol

 

I never got any Chase prequal or mailer till last year that I cold apped Amazon. Now getting plenty of mailers from Chase.

With WF I got declined for Propel when it came out for having too many inqs. Now getting mailers from them all the time.

I believe you have to get on their radar somehow before getting approvals.


They can clearly see that I have an 850 score because it is their monthly credit monitoring that shows it. Ive been a WF banking customer for close to 20 years ( on and off ) Im guessing with me, I have too much credit and not enuf income




3/2016 EX 644 CK-TU 642 CK-EQ 660 WalMart- 671.
>2/2023 EX 850 EQ 850 TU 850 (F8)
Message 16 of 17
CreditCuriosity
Moderator Emeritus

Re: 850 FICO score and still not preapproved


@Meanmchine wrote:

@CYBERSAM wrote:

@Meanmchine wrote:

@SouthJamaica wrote:

If I waited for a preapproval before applying I wouldn't have many cards.


Citibank wont preapprove me either but I believe that is for other reasons

Their Custom Cash card is on my very short list for my next app


We are hyping you out for an app spree! But don't lol

 

I never got any Chase prequal or mailer till last year that I cold apped Amazon. Now getting plenty of mailers from Chase.

With WF I got declined for Propel when it came out for having too many inqs. Now getting mailers from them all the time.

I believe you have to get on their radar somehow before getting approvals.


They can clearly see that I have an 850 score because it is their monthly credit monitoring that shows it. Ive been a WF banking customer for close to 20 years ( on and off ) Im guessing with me, I have too much credit and not enuf income


What you don't understand is your aren't their target audience due to 850 score that means you likely aren't carrying a balance.  I just got declined for science again with WF with a 810 pulled TU score have been declined with higher scores and lower scores, but one thing is certain I don't carry balances on many CC's usually 1 or 2 at once and below 1% utilization.  Likely if you applied you would be decided in my humble opinion.  They see you likely like they saw myself as one they can't make money off of.  My most recent denial went all the way to executive level and still stood by it talk to a lady their for awhile on and off on most recent application.  Just told her was going to collect the $325 checking bonus for my trouble and denial recently on WF card and the cost of my inquirySmiley Happy.   I said you have the right to not do lending with me, but I have the choice not to have money with you all and will be collecting bonus and closing account and thanked her for the $325 bonus and will be coming around in a year again for it.  Am I bitter?  Not really I kinda understand, but don't like how they choose to do business, but at same time understand it.  If you look at signature I am with every big bank except them which I cannot crack.  If i would of got them when had say 3-5 cards I can pretty much guarantee would have several of their cards now.. You can roll the dice and see if you get approved.  Pre-Qual/Approvals usually mean nothing with Citi, BofA, etc.   Your credit profile speaks for itself

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Message 17 of 17
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