WF Propel - Declined pretty much

[Anonymous]

I don't hink it's so much as 2 years history but needing that time for a certain amount of HP to drop off, moreso if someone is HP heavy.

If you haeve a thin file some Lenders view excessive HP's as credit seeking do they not? In general though as long as you're in Chase's 3/24 zone you should be fairly good to go barring anything such as high UT etc.  Because DP's show that 1 year history is typically fine for them.

[Anonymous]

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@Anonymous wrote:

I don't hink it's so much as 2 years history but needing that time for a certain amount of HP to drop off, moreso if someone is HP heavy.

If you haeve a thin file some Lenders view excessive HP's as credit seeking do they not? In general though as long as you're in Chase's 3/24 zone you should be fairly good to go barring anything such as high UT etc.  Because DP's show that 1 year history is typically fine for them.

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From what I gathered here 1 year is the bare minium for chase to consider you with two years being a much better chance at approval. All pending the 5/24 rule of course. 

Also with COVID and other market conditions you want the best chance possible... 

[randomguy1]

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@AverageJoesCredit wrote:

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

Starting to get annoyed already looking at cards and may just continueto do nothing different until things get better COVID wise. 

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Depending on who you speak/listen to, this may or may not be any time soon. And in fact may get worse before it does get better.

Heck it may last well into next year, at least some aspects of it. How long are you prepared to wait for his to happen?

All that aside, this issue doesn't seem to be hindering people with strong profiles. Just check the approval sections. So I strongly suggest looking into ways to thicken your file other than with CC products. 

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At the end of the day my profile isn't that strong. SSL is a good idea however that isn't free and figure it'd cost me around 100 bucks or so. Perhaps worth it. 

After seeing https://ficoforums.myfico.com/t5/Credit-Cards/Capital-One-isn-t-Worried-About-Fraud/td-p/6170091 I don't think i'll be applying for Cap1 so going to rule that out. This is utter pure insanity. 

I like the idea of a Chase flex still but I don't have two years of history. 

Honestly, Seems like Propel may be the best idea for an approval unless they decide they don't want to extend me more credit which is very possible being a conservative bank. 

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why do you need 2 years history for a Chase Flex?  5/24 sure, at least a year of history , ok but not definite, but nowhere do i see a 2 year rule. Sometimes people overthink cc's,  just apply , at worse 2 hps, which is better than Cap One,  and a denial. At best you get approved, have a 3rd card and can debunk the 2 year stigma

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Exactly.

One or two denials isn't too bad. Just use denials as your guide... Optimize your chance for success by limiting opening up new credit, keeping low utilization, etc.. Chase also has pre-approvals for existing banking customers and you can always check the prequalify site.

[Anonymous]

So awhile ago got fed up looking for a new card and just coninuted on with my daily life. Constant mailers have made me consider it again. Cap1 seems asboutely desperate to get me as a customer for some reason. I even got two Cap1 mailers for the QS no annual fee in the same day...

With that said I've been looking at cards still but I don't have high hopes for my thin and new profile with rather low income. year and and a half of history with 730s scores accros the board and several INQs are now over a year old so not really sure if that's taken into UW anymore.

Been thinking about the WF Propel again as I have an established relationship with them vs a cold app with somebody else. Not the biggest fan of AMEX but since I have a Visa it seems alright. 

Also considered Chase but I lack two years of history and zero history with them so that seems iffy. Also have looked at the Cap1 SavorOne but that seems one of their most premium cards with tough chances at approval. 

Thoughts? 

[FinStar]

@Anonymous, 

Since your current thread contains the same theme associated with the CCs you're intending on applying inclusive of the Savor and Chase references, it has been merged with the original thread you had going at the end of October (10/22).  This avoids duplication of the same DPs that have been already covered and provides the community with the necessary background information.  Feel free to edit the original thread title and customize to your current needs.

[wasCB14]

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@Anonymous wrote:

So awhile ago got fed up looking for a new card and just coninuted on with my daily life. Constant mailers have made me consider it again. Cap1 seems asboutely desperate to get me as a customer for some reason. I even got two Cap1 mailers for the QS no annual fee in the same day...

With that said I've been looking at cards still but I don't have high hopes for my thin and new profile with rather low income. year and and a half of history with 730s scores accros the board and several INQs are now over a year old so not really sure if that's taken into UW anymore.

Been thinking about the WF Propel again as I have an established relationship with them vs a cold app with somebody else. Not the biggest fan of AMEX but since I have a Visa it seems alright. 

Also considered Chase but I lack two years of history and zero history with them so that seems iffy. Also have looked at the Cap1 SavorOne but that seems one of their most premium cards with tough chances at approval. 

Thoughts? 

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Don't let ad mailers tell you what card to get (unless the mailer has some special offer not available to the general public, at least). Cap1 doesn't suffer if they encourage you to apply and they reject you.

Don't assume the mailer represents the best card you can get from a lender, either. Cap1 sent me mailers for Platinum and QS. When I went for a Savor instead, they gave me a $20k SL based on just two HPs.

I got Freedom with no credit history, but that was before COVID.

[Anonymous]

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@wasCB14 wrote:

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@Anonymous wrote:

So awhile ago got fed up looking for a new card and just coninuted on with my daily life. Constant mailers have made me consider it again. Cap1 seems asboutely desperate to get me as a customer for some reason. I even got two Cap1 mailers for the QS no annual fee in the same day...

With that said I've been looking at cards still but I don't have high hopes for my thin and new profile with rather low income. year and and a half of history with 730s scores accros the board and several INQs are now over a year old so not really sure if that's taken into UW anymore.

Been thinking about the WF Propel again as I have an established relationship with them vs a cold app with somebody else. Not the biggest fan of AMEX but since I have a Visa it seems alright. 

Also considered Chase but I lack two years of history and zero history with them so that seems iffy. Also have looked at the Cap1 SavorOne but that seems one of their most premium cards with tough chances at approval. 

Thoughts? 

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Don't let ad mailers tell you what card to get (unless the mailer has some special offer not available to the general public, at least). Cap1 doesn't suffer if they encourage you to apply and they reject you.

Don't assume the mailer represents the best card you can get from a lender, either. Cap1 sent me mailers for Platinum and QS. When I went for a Savor instead, they gave me a $20k SL based on just two HPs.

I got Freedom with no credit history, but that was before COVID.

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Yeah tho some say Cap1 is a bit weird and it sounds like they are. From before trying to cover dining and grocery categories. 

[AverageJoesCredit]

@Anonymous  if you want to thicken your profile there is nothing wrong by getting a Cap One card csrd which most likely will be approved. It may be a low limit it might be bucketed but adding that third card now may help open up other apps in future.  If you really want a functional 3rd card apply for the card you really want. If rejected you could still go for a Cap One who arent picky. Honestly you should try for a Chase card if thats what you want since their 5/24 rules all

[Anonymous]

Tempted to go for the WF Propel but still feel iffy on approval. Figure I might be denied on the basis we don't want to extend you any more credit then we already have. 

Decided not going for the Chase Freedom Flex as it appears it has no mobile wallet support. Chase themsleves says no mobile wallet support for it. Some claim to have it working anyways but not sure. 

Freedom Unlimited would kinda be a duplicate of what I already have. 

[FinStar]

Nothing ventured, nothing gained.  

FWIW, my Chase Freedom Flex works just fine on mobile wallet (Samsung Pay) 🤷.  Haven't tried on Apple Wallet.