Interesting Wells Fargo cli process

[LooksAreDeceiving]

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@Anonymous wrote:
@LooksAreDeceiving-

The first time I called, the CSR told me there was no way of knowing whether or not it would be a hard pull or not, but to expect one.

I called back an hour later (I actually talked to two reps, both of which told me the same thing). Here’s how the conversation went:
Me- I was wanting to do a credit line increase
CSR- Ok sir, I can help
Me- Before we do it, will I be able to obtain one with just a soft pull?
CSR- The process is that we can do it via soft pull, if it doesn’t accept it via soft pull we will have to transfer you to an under writer for them to process a hard pull.
Me- if I don’t get approved via soft pull, can I say never mind and not have to go to an underwriter?
CSR- that’s correct sir, you can decide to stop
Me- ok lets do it then


So I just wanted confirmation multiple times before we did it that I could do a soft pull first before going through it. I had plenty of open credit on the card to do the BT I am going to do, I just wanted a CLI too.

Hope this helps

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@Anonymous, yes, thanks!  This is exactly the confirmation I was looking for.

If it wasn't for the fact that I just got approved for a Discover (which is in the mail) and that I have only 5 credited statement payments, I'd call them immediately (and ensure that I speak slowly and plainly...and listen carefully (since either me or the CSR is having communication issues)).

I'm hoping that the next couple of months will yield an auto CLI.  Additionally, I'm going to start putting my spend through Discover, and I'm hoping for a bump there as well over the next few months (which, I'm guessing, could only help with any subsequent increases from WF). 

I'm being cautious since I'm unsure IF I received a CLI now, if it would negatively affect my chances for another, possibly larger, increase in a few months (when it would matter more to me, immediately preceding my next app (Chase Freedom)).

Overall, I'm happy with my treatment from WF.  Six months ago, I thought I'd be waiting for a card graduation at this point, instead of waiting to receive my 2nd card in the mail.  I don't mind waiting for the Propel to grow, but I prefer to use all the tools at my disposal!

Thanks again!

[Anonymous]

FWIW, I didn’t receive an auto CLI from WF until about a year after opening the card. Once I graduated from college (it originally was a student card) I got another auto CLI. It had been stuck at 7k for about 2 years, but I quit using the card and closed all other accounts with WF due to issues with my checking account, but that’s another story.

I don’t know how long you can go between CLIs with WF, so I can’t suggest if it’s better to wait or not. Worst case scenario they don’t approve it now and you try again in a few months. But if they approve you, I wouldn’t say aw shucks I should have waited.

Good luck if you try for a CLI
I would have taken advantage of this BT offer I have had I not been approved for the CLI, but it just makes it better that I got approved. I do think I should have been more greedy with the increase I asked for, as it popped back an approval before I could blink my eyes.

[credit_endurance]

1. Wanted to resurrect this thread to give my 6 month update:

Was looking over some mail and realized that my last Wells Fargo CLI request was just past the 6 month mark. My propel is about a year and half old. SL was $3,500 increased to $6,200. Called in and nice rep asked me the usual questions. Requested $15k computer came back with $10,900!! 😎 I will take that $4,700 increase via a sp anyday! Real kicker about this card is that, not a DIME of spend has been made on it. 😂😆😂😆

Thanks for looking. 😉

[AllZero]

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@credit_endurance wrote:

Wanted to resurrect this thread to give my 6 month update:

Was looking over some mail and realized that my last Wells Fargo CLI request was just past the 6 month mark. My propel is about a year and half old. SL was $3,500 increased to $6,200. Called in and nice rep asked me the usual questions. Requested $15k computer came back with $10,900!! 😎 I will take that $4,700 increase via a sp anyday!

Thanks for looking. 😉

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Congratulations on your CLI!

[AverageJoesCredit]

Thats awesome @credit_endurance  i know i wont get any but i might give it a whirl. Worse they can say is no

[AverageJoesCredit]

Tried it , as per usual nothing but the sp part still works. Informed a hp would be needed, i passed. 

[credit_endurance]

@AllZero thanks so much!

[credit_endurance]

@AJC  thanks my friend! Sorry to hear about the denial, I think there pulling fico 9 for these increaes. Where does your's stand?

[Malcono]

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@credit_endurance wrote:

1. Wanted to resurrect this thread to give my 6 month update:

Was looking over some mail and realized that my last Wells Fargo CLI request was just past the 6 month mark. My propel is about a year and half old. SL was $3,500 increased to $6,200. Called in and nice rep asked me the usual questions. Requested $15k computer came back with $10,900!! 😎 I will take that $4,700 increase via a sp anyday! Real kicker about this card is that, not a DIME of spend has been made on it. 😂😆😂😆

Thanks for looking. 😉

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Wow. That's crazy.

I made the same call yesterday.

Was at $5k, also asked for $15k, and they only gave me a $1.3k increase to $6.3k.

I have some spend on it, but nothing to write home about.

I'll try again in 6 months and maybe get a better CLI.

[AverageJoesCredit]

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@credit_endurance wrote:

@AJC  thanks my friend! Sorry to hear about the denial, I think there pulling fico 9 for these increaes. Where does your's stand?

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No worries. I passed on the hp since i was spreeing, not good lol, but my current Ex Fico 8 is 751  my score with WF is 757. The thing is my scores mean nothing to my lenders. Its always my debt and income that shoots me in the foot.