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Wells Fargo CLI - Denied, interesting reason...

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desertrose841
Established Member

Wells Fargo CLI - Denied, interesting reason...

My score is about 770 across all 3. 

The reason for denial was that I also have a checking account with them. My balance on that account is usually6 between 10-20$ everytime. I just don't use that checking account. It is there just as backup. Also, note that my balance is $0. Current CLI $4000.

 

reasons given: 1) my checking balance is too low. LOL.

2) once in the last 4 years of having it I maxed out my card, was about $100 or so above the limit. 

 

I would have NEVER thought that my checking account would be a factor in their decision. 

Message 1 of 32
31 REPLIES 31
desertrose841
Established Member

Re: Wells Fargo CLI - Denied, interesting reason...

 I forgot to add, I have more than $55,000 in Credit lines. And my CL utilization is 0%.

Message 2 of 32
JoeRockhead
Senior Contributor

Re: Wells Fargo CLI - Denied, interesting reason...

It does seem like a trivial thing, especially if you have a good history with them but, clearly they have their own internal paramiters they like to see being met, appreciate the info!

Message 3 of 32
UncleB
Credit Mentor

Re: Wells Fargo CLI - Denied, interesting reason...


@desertrose841 wrote:

My score is about 770 across all 3. 

The reason for denial was that I also have a checking account with them. My balance on that account is usually6 between 10-20$ everytime. I just don't use that checking account. It is there just as backup. Also, note that my balance is $0. Current CLI $4000.

 

reasons given: 1) my checking balance is too low. LOL.

2) once in the last 4 years of having it I maxed out my card, was about $100 or so above the limit. 

 

I would have NEVER thought that my checking account would be a factor in their decision. 


Sorry about the denial, @desertrose841

 

I know it won't make you feel any better, but this isn't the first time we've seen WF decline someone with that reason.  It almost implies that in some cases their algorithm would prefer one to not have a WF deposit account at all.

Message 4 of 32
Anonymous
Not applicable

Re: Wells Fargo CLI - Denied, interesting reason...

After reading this thread ... I am shocked! Smiley Surprised

Never knew there was a banking connection to the credit sides. We read about relationship banking and here is a real-world example. Smiley Frustrated

Oh ... Smiley Sad

Message 5 of 32
UncleB
Credit Mentor

Re: Wells Fargo CLI - Denied, interesting reason...


@Anonymous wrote:

After reading this thread ... I am shocked! Smiley Surprised

Never knew there was a banking connection to the credit sides. We read about relationship banking and here is a real-world example. Smiley Frustrated

Oh ... Smiley Sad


Yeah, it's definitely a "thing" with WF. 

 

It can sometimes work out in one's favor, though.  When I got my Propel I was auto-approved for $15k, which at that time was quite generous (and still is even now).  At the time of my approval I had a substantial balance in a joint savings account, and I'm quite certain that was a factor.

 

I still think it's weird that in some cases having no WF checking/savings account all could be better than having one with a modest balance.  That's illogical to me, but that's how they roll.

 

For what it's worth, I recall seeing a few posts over the years where someone's recon with Chase failed due to a past NSF in a Chase checking account, so deposit account activity can come into play with Chase as well.

Message 6 of 32
AndySoCal
Valued Contributor

Re: Wells Fargo CLI - Denied, interesting reason...

@desertrose841 

The checking account is looked at a measure of how a consumer manages their finance. How the checking account is managed may be indicative how the consumer manages thier money in other areas like credit.

FICO Scores XPN v8 802 V2 831 (SDFCU) TUC bankcard 797 08/2024 EFX 811 Bankcard v8 811 EFX 811 FIC0 v8 (09/2024)
Discover IT 09/90, 19000, JC Penney 10/2008 4700, US Bank Cash 08/2010 12,000 Citibank Custom Cash 5/2015 11,100 State Dept. FCU 20,000 06/2023 , 02/2024 Redstone FCU Signature VISA 10,000 08/23/2024 Langley FCU Signature Cash Back Visa 10000
Bank: Ally Bank Credit Unions: Lafayette FCU Fortera FCU State Department FCU Pelican State CU Redstone FCU Hughes FCU, LangleyFCU
My personal blacklist Bank of America Synchronny Bank Wells Fargo Capital One TD Bank
Message 7 of 32
mfinsmi1
Established Contributor

Re: Wells Fargo CLI - Denied, interesting reason...

@desertrose841 i too was declined based on my checking and saving account balance.... so i closed my accounts with them . Cant use that excuse next time i ask theyll have to come up with something better

Personal Cards (Over $100k):

Business Cards:

Rebuilding Starting Scores - December 2021

FICO SCORE 8/9 - Current 1/6/23

Stats: : 3/6; 8/12; 17/24 --- AAoA 3 YRS, 8 MO --- INQ: EX-6/TU-7/EQ-2
Message 8 of 32
CYBERSAM
Senior Contributor

Re: Wells Fargo CLI - Denied, interesting reason...


@UncleB wrote:

@desertrose841 wrote:

My score is about 770 across all 3. 

The reason for denial was that I also have a checking account with them. My balance on that account is usually6 between 10-20$ everytime. I just don't use that checking account. It is there just as backup. Also, note that my balance is $0. Current CLI $4000.

 

reasons given: 1) my checking balance is too low. LOL.

2) once in the last 4 years of having it I maxed out my card, was about $100 or so above the limit. 

 

I would have NEVER thought that my checking account would be a factor in their decision. 


Sorry about the denial, @desertrose841

 

I know it won't make you feel any better, but this isn't the first time we've seen WF decline someone with that reason.  It almost implies that in some cases their algorithm would prefer one to not have a WF deposit account at all.


Note to self, DO NOT open a secondary checking account with WF!

 

So OP should cancel the WF checking account and try CLI again in six months! lol







                
Message 9 of 32
LADave
Established Contributor

Re: Wells Fargo CLI - Denied, interesting reason...


@UncleB wrote:

@desertrose841 wrote:

My score is about 770 across all 3. 

The reason for denial was that I also have a checking account with them. My balance on that account is usually6 between 10-20$ everytime. I just don't use that checking account. It is there just as backup. Also, note that my balance is $0. Current CLI $4000.

 

reasons given: 1) my checking balance is too low. LOL.

2) once in the last 4 years of having it I maxed out my card, was about $100 or so above the limit. 

 

I would have NEVER thought that my checking account would be a factor in their decision. 


Sorry about the denial, @desertrose841

 

I know it won't make you feel any better, but this isn't the first time we've seen WF decline someone with that reason.  It almost implies that in some cases their algorithm would prefer one to not have a WF deposit account at all.


I also got a CLI denial earlier this month that listed low balances as one of the reasons. For now I'm moving all of my direct deposits to WF,  but if they want me to keep larger balances with them, they'll need to make it more worth my while.

 

I like my Active Cash and Autograph credit cards with WF more than I like my WF checking and savings. They're not even necessairly my best option for a local branch, since there's also a Union Bank branch within walking distance of me where I have free checking (and they're merging with US Bank). I may end up closing my WF checking and saivngs accounts if it seems they're doing me more harm than good.

Message 10 of 32
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