Re-applying to Bilt after leaving Wells Fargo

[Ascanius]

Earlier this year I applied for the Bilt mastercard and was rejected. All of the reasons given for the rejection were based on negative account activity with Wells Fargo, which was my main bank at the time of application. (I had a gap in employment a couple of summers ago, so there were a few overdrafts, etc.)

Last month I completed the process of migrating to a local credit union as my main bank, closing all of my Wells Fargo accounts.

Looking ahead to where I want to go with my credit cards, the Bilt card is still something that would make sense for me. I have fairly low income without prospects of improving it for at least a few years, so I won't be taking out any cards with annual fees. I already have cards with decent multipliers for everyday spending. Rent is my biggest monthly expense, so getting something back on it would be great. 

How long should I wait before re-applying given my history with Wells Fargo? Does anyone know if they factor in past decisions or past account activity for closed accounts, and if so, how long they keep those records?

[FicoMike0]

Most banks seem to keep records forever, lol. Some, like capone, don't holds a grudge. I don't know about wells. I do believe they favor existing customers, which is unusual among large banks. So, I think you lost ground closing all accounts with them, you are no longer a customer and they still remember the badies.

Still, since they have prequal, no penalty to app every month,

https://web.secure.wellsfargo.com/credit-cards/yourinfo/?lang=en&cx_nm=CXNAME_CSMHP_MC_carousel_CG&s...

[denverguy67]

I don't know anything about the Bilt card, but we were just discussing in another thread how Wells Fargo is very relationship based, and they want you to have other accounts with them.  I was denied a Wells Fargo credit card because they closed my checking about 8 years ago (I can't remember the reason, probably too many overdrafts).  So it may be impossible for you to get the Bilt card  (or any other Wells Fargo credit card) without re-opening a checking account with them.

[zerofire]

Yea it sounds like you ticked off Wells Fargo. As a result they do not want to put any of their money behind you anymore. Overdrafts in your history will occasionally mean that a bank will not want to lend you things and this will be in the private files. Overall I think you might have dodged a bullet though since Wells Fargo is a mess of a bank.

[SE4026]

Same thing happened to me.  I have a 760 score but they still denied me because of low balances on my checking account (it's not my primary bank account) and I did have a few account issues a few years back during a down period.    I thought of closing my account and trying again but I don't think it will help.  I am just going to wait to reapply once the WF relationship ends and there is a new card issuer next year. 

[zerofire]

Yep we now know that the Bilt card is moving to Cardless and most likely breaking into multiple cards. If you can hold off until that happens then your whole mess with Wells Fargo will be avoided.