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Wells Fargo Platinum App Under Consideration

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Wells Fargo Platinum App Under Consideration

Looking for advice on recon for WF Plat ONLINE app from Saturday 7/14 - not an instant approval, got the 7-10 day notification. Would it be more advantageous to recon at my local branch or call the backdoor number? I am an active customer since 2017. Appreciate any and all help - thanks!

 

Editing to add more DPs:

 

Scores are updated in the sig., prior to this weekend.

Inquiries in past 12 months, coming into July 2019: 

EQ: 3 (Last inq was Aug 2018)

TU: 4 (Last inq was Aug 2018)

EX: 1 (Last inq was Jul 2018)

 

New inquiries this app spree weekend, in the order I app'd: 1) KIA Motors - approved (pulled all 3 CBs); 2) Citi (pulled EX, EQ) - approved; 3) Disco (pulled EX, EQ) - approved; 4) Wells Fargo (EX only) - wait list. NOTE - I would NOT have app'd for the WF at this time, had I known they would pull EX. I only app'd because 1) I've been receivng offers (mailers) to apply almost weekly, and 2) I had faulty intel that they pull only TU in GA. Intuitively it didn't sound right, but I went for it anyway, and I clearly mis-read whatever sources I was researching.

 

In any event, given that I app'd, I at least want to give it all I can to try and deliver this card in the win column.

 



Current Scores Jul 2019 – FICO 8
Message 1 of 13
12 REPLIES 12
Valued Contributor

Re: Wells Fargo Platinum App Under Consideration


@soupy5 wrote:

Looking for advice on recon for WF Plat ONLINE app from Saturday 7/14 - not an instant approval, got the 7-10 day notification. Would it be more advantageous to recon at my local branch or call the backdoor number? Appreciate any and all help - thanks!


can't hurt to Recon, if a current WF Customer, I'd Try Branch Manager.

if not current WF Customer, probably Backdoor #

 

maybe more opinions/advice coming, in this thread.

 

GL2U

Message 2 of 13
Frequent Contributor

Re: Wells Fargo Platinum App Under Consideration

Thanks 007 - good point to add, I am an active customer since 2017.



Current Scores Jul 2019 – FICO 8
Message 3 of 13
Community Leader
Senior Contributor

Re: Wells Fargo Platinum App Under Consideration


@soupy5 wrote:

Looking for advice on recon for WF Plat ONLINE app from Saturday 7/14 - not an instant approval, got the 7-10 day notification. Would it be more advantageous to recon at my local branch or call the backdoor number? I am an active customer since 2017. Appreciate any and all help - thanks!


It depends on your DPs. Please share. 

GOALS: Garden til APR 2020 and 800 Club



JUN 2019: EX 788, TU 794, EQ 779
DEC 2018: EX 777, TU 783, EQ 799

|| AmX Cash Magnet $25K || NFCU CashRewards $20K || Macy's $20K || Discover IT $18.7K || NFCU CLOC $15K || NFCU Platinum $12.5K || AmX ED $11.5K || CitiCostco $7K || CitiDC $6.3K ||
Message 4 of 13
Frequent Contributor

Re: Wells Fargo Platinum App Under Consideration

Yes, good point -  I will edit my original so others will see as well, upfront. Thanks!



Current Scores Jul 2019 – FICO 8
Message 5 of 13
Frequent Contributor

Re: Wells Fargo Platinum App Under Consideration

DPs added, thanks!


@CreditInspired wrote:

@soupy5 wrote:

Looking for advice on recon for WF Plat ONLINE app from Saturday 7/14 - not an instant approval, got the 7-10 day notification. Would it be more advantageous to recon at my local branch or call the backdoor number? I am an active customer since 2017. Appreciate any and all help - thanks!


It depends on your DPs. Please share. 



hanks.



Current Scores Jul 2019 – FICO 8
Message 6 of 13
Super Contributor

Re: Wells Fargo Platinum App Under Consideration

Wells isn't really known for recon results. You can call the backdoor number and see what's up with the application and go from there. I don't see much point in wasting a trip to the branch because you can get the same information from the phone number and I don't think it makes any difference in the underwriting decision.

Message 7 of 13
Frequent Contributor

Re: Wells Fargo Platinum App Under Consideration


@kdm31091 wrote:

Wells isn't really known for recon results. You can call the backdoor number and see what's up with the application and go from there. I don't see much point in wasting a trip to the branch because you can get the same information from the phone number and I don't think it makes any difference in the underwriting decision.


 

Thanks, kdm - this is exactly what I was wondering... does the branch (manager) have any more juice or authority than the central app processing or underwriting depts.



Current Scores Jul 2019 – FICO 8
Message 8 of 13
Community Leader
Senior Contributor

Re: Wells Fargo Platinum App Under Consideration


@soupy5 wrote:

DPs added, thanks!


@CreditInspired wrote:

@soupy5 wrote:

Looking for advice on recon for WF Plat ONLINE app from Saturday 7/14 - not an instant approval, got the 7-10 day notification. Would it be more advantageous to recon at my local branch or call the backdoor number? I am an active customer since 2017. Appreciate any and all help - thanks!


It depends on your DPs. Please share. 



hanks.


Ugh, that’s a lot of inqs in the last 12 mos: 6 EQ, 5 TU, 5 EX. How many total in last 24 mos? What does UT look like?

 

IMHO, I think this is a decline but, of course, anything is possible. 

 

GL

GOALS: Garden til APR 2020 and 800 Club



JUN 2019: EX 788, TU 794, EQ 779
DEC 2018: EX 777, TU 783, EQ 799

|| AmX Cash Magnet $25K || NFCU CashRewards $20K || Macy's $20K || Discover IT $18.7K || NFCU CLOC $15K || NFCU Platinum $12.5K || AmX ED $11.5K || CitiCostco $7K || CitiDC $6.3K ||
Message 9 of 13
Frequent Contributor

Re: Wells Fargo Platinum App Under Consideration


@CreditInspired wrote:

@soupy5 wrote:

DPs added, thanks!


@CreditInspired wrote:

@soupy5 wrote:

Looking for advice on recon for WF Plat ONLINE app from Saturday 7/14 - not an instant approval, got the 7-10 day notification. Would it be more advantageous to recon at my local branch or call the backdoor number? I am an active customer since 2017. Appreciate any and all help - thanks!


It depends on your DPs. Please share. 



hanks.


Ugh, that’s a lot of inqs in the last 12 mos: 6 EQ, 5 TU, 5 EX. How many total in last 24 mos? What does UT look like?

 

IMHO, I think this is a decline but, of course, anything is possible. 

 

GL


Appreciate the feedback. Yes, no argument there - let's just say I won't be adding Chase to the portfolio for a while...

 

Utilization is managed to 7-8% across the board, owing a lot to learning from previous mistakes as well as the great people and advice here in the forum.

 

Past 24 months inquiries, including this weekend: 12 EQ, 7 TU, 11 EX. Most of them occurring in 3 primary spurts: this past weekend was planned - 8 inqs (2 autos, adding desired cards to portfolio to occur after the auto loan inquiries); a year ago Jul/Aug 2018 - 8 inqs (new mortgage, new creditors), and Jan 2018 - 9 (re-starting porfolio). This weekend's efforts will complete my HP activity for 2019. I will, of course, continue to take advantage of SP CLI opportunities (e.g. AMEX and CapOne).

 

FYI - all the cards in my sig (with the exception of the Cap One QS) were added in 2018. AMEX has been good - only one HP for the 5 trades. Rebuilding credit after several (too many) years of taking my eye off the ball on my credit. As recently as 2017 I was mired in the 500s.



Current Scores Jul 2019 – FICO 8
Message 10 of 13
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