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Laughable Denial Reason-Wells Fargo

Regular Contributor

Re: Laughable Denial Reason-Wells Fargo


Djgrolyos wrote:
Applied for the Cash Wise Visa for the $200 Spend Bonus. Fico 788-Pulled EX. Denied for one reason only:

No Retail Credit Card Reporting. (We look for how you are using your credit. We look for what types of credit you have)

Well. Sorry I closed my store cards last year. :/


That's just ridiculous lol. 

 

If store cards hurt your credit in some score models, is it due to the lower limits usually with store cards? I have the Walmart MC I know the limits can get crazy high on that card so hopefully it helps me in any of my Wells future apps since they don't have a hard limit on the number of cards with them. They've treated me well so far.

{Cap1 Quicksilver: $850} {Discover It: $2.2k} {Amex BCE: 20k} {Wells Fargo Cash Wise: $6k} {Sam's Club Credit: $967} {Barclaycard Ring: $750} {Chase Slate: $14.2k} {Wal-Mart MC: $7.9k} {Chase Amazon: $1.3k} {Target RedCard: $800} {AU on BofA card: $15k} {Sams MC $2.4k} {US Bank Cash+ $7.2k} {BofA Business Cash Rewards $5.5k} {Citi DC $8.1k} {Uber Visa $3.6k} {USAA Cash Preferred $2k} {NFCU somethin card $3.9k} {Alliant CU somethin card $7,500} {Lowe's MC $3.0k}
Message 11 of 14
Member

Re: Laughable Denial Reason-Wells Fargo

Man Sad to hear that!  i got denied for cash wise because : im not US citizen.....

a friend of mine works at the chase (private client). He said that never saw a letter stating something like - straight discrimitization.

Anyways when it comes to depisit big ammounts into checking account they are fine...

I heard that they big problems with credit card lending, that is why they are trying to decline apps...


Djgrolyos wrote:
Applied for the Cash Wise Visa for the $200 Spend Bonus. Fico 788-Pulled EX. Denied for one reason only:

No Retail Credit Card Reporting. (We look for how you are using your credit. We look for what types of credit you have)

Well. Sorry I closed my store cards last year. :/


 

Message 12 of 14
Community Leader
Valued Contributor

Re: Laughable Denial Reason-Wells Fargo

Store cards hurt the credit scores pulled by insurance companies. Apparently, people with store cards are more likely to make claims.

Message 13 of 14
Valued Contributor

Re: Laughable Denial Reason-Wells Fargo

If it was a card I really wanted bad I would call for recon, But I only applied for the free $200. That being said.... I still can’t believe I got denied with a 770-780 and 1% Utilization with great income... and for not having store cards. **bleep**? I closed them because my main cards actually get me more money back. Using those with Ebates I do pretty well for cash back. The store cards I had were going to get closed for not being used so I wanted them to say closed my me vs closed by grantor.

Oh well. Got Citi today and have been trying for years. Very happy on that. FUWF. Smiley Happy
FICO 08: TU= 786 (Dec) EQ= 774 (Dec) EX= 756 (Dec) Favorites: Discover It, Discover Miles, And U.S. Bank Cash+
Message 14 of 14