Aunt closes on her home today and we are looking too replace her current WF Visa that was orginally a secured card with them and started at 300 and is now at 2.5K. She has had some recent lates outside of WF. Her WF credit card has never been late and now a 0 balance. She does have a significant amount of money currently in her checking account and has been with them for over 20 years. All debt is at 0 and everything is current on time. WF EX score as of 04/03 is 707. What are the approval odds?
I can only offer my experience. I app'd for the WF Cash Visa a few months ago and was denied at like 600ish. The only reason they gave, and confirmed by call in was a repo I had a few years ago which was redeemsed. From what I gather they value bank relationship. Funny thing is the 2 collections I had didn't show up as a reason for denial. I have finally cleaned all these up and will likely reapply but hopefully this helps a little, if at all. I have banked with them for 12 years.
I just got the WF Platinum two weeks ago. The only account I have ever had with WF is our current mortgage. My FICO EX was 694 when I applied and I was approved with a $7000 SL. It has 0% APR on balance transfers and purchases for 18 months, so it might be a good card for someone who just bought a house.