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Wells Fargo Propel Decline

Loquat
Moderator

Re: Wells Fargo Propel Decline

Wells Fargo can be interesting folks. I see some folks get denied for things that you'd think would be criteria needed and then you have folks like myself who got approved for this card as well as their Visa Signature, and Dillard's Amex with my BK13 reporting on my reports.

Verification call was all I ever had with them.
Message 11 of 31
Gmood1
Community Leader
Super Contributor

Re: Wells Fargo Propel Decline

Sorry for denial OP. Don't stress over it too much. IMHO, y'all aren't missing anything. 

 

It's difficult to set up automatic payments as Wells Fargo doesn't give the pay from external account option. 

It was there and poof, I don't see it anymore. Also, the $25 minimum redemption is too high IMO. 

Amex acceptance is better, but still not there like MC or Visa.

 

I haven't touched this CC in over 6 months. Personally I believe there are better options.

 

UW told me I wasn't using enough of my credit for a CLI. $4 to 5k reporting wasn't enough for her 😂.

I  don't think I've used it since.

Honestly it's probably been 8 or 9 months. They can close it if they like. 

Message 12 of 31
M_Smart007
Epic Contributor

Re: Wells Fargo Propel Decline


@Gmood1 wrote:

Sorry for denial OP. Don't stress over it too much. IMHO, y'all aren't missing anything. 

 

It's difficult to set up automatic payments as Wells Fargo doesn't give the pay from external account option. 

It was there and poof, I don't see it anymore.

 

 


Honestly, I did not find "Auto-pay" or "outside" accounts an issue?

I have auto pay set up and it pays every month like clockwork.

 

IMO: Rewards can be redeemed in smaller amounts if necessary , I just buy a Gas card through them,

and pay the rest. Never thought redeeming $25.00 was an issue.

 

People rack up thousands of UR's and MR's and hold for a YearSmiley Surprised

 

All JMHO ...

 

Message 13 of 31
Gmood1
Community Leader
Super Contributor

Re: Wells Fargo Propel Decline

@M_Smart007 

I don't trust any of these FIs that much, to leave thousands of dollars in their rewards section. Lol

 

I've seen members here who thought that was a good idea only to get reamed and lose all of those points.

 

I did have autopay. After I cancelled it and tried to set it back up, it wasn't available anymore. Weird, I know.

I finally SD'd the card and the only reminder that I have it, is when I see threads like this.

 

 

 

 

Message 14 of 31
Meanmchine
Super Contributor

Re: Wells Fargo Propel Decline

Sorry for the decline. FWIW,  I like'd like to get this card too one day


3/2016 EX 644 CK-TU 642 CK-EQ 660 WalMart- 671.
>12/2020 CCT EX 821 TU 826 EQ 840


"Survival kit contents check. In them you'll find:

- One forty-five caliber automatic
- Two boxes of ammunition
- Four days' concentrated emergency rations
- One drug issue containing antibiotics, morphine,
vitamin pills, pep pills, sleeping pills, tranquilizer pills
- One miniature combination Russian phrase book and Bible
- One hundred dollars in rubles
- One hundred dollars in gold
- Nine packs of chewing gum
- One issue of prophylactics
- Three lipsticks
- Three pair of nylon stockings.

Shoot, a fella' could have a pretty good weekend in Vegas with all that stuff."

Major Kong (Slim Pickens) in Dr. Strangelove 1964
Message 15 of 31
nuohlac
Valued Contributor

Re: Wells Fargo Propel Decline

Sorry OP. WF is a mystery. FWIW I had a mortgage with them for a few years before opening any CC's. 








Message 16 of 31
KJinNC
Valued Contributor

Re: Wells Fargo Propel Decline

Wouldn't it be great if there was a universal benchmark score, and companies could simply look at that score plus income, and perform simple math to decide to approve or deny? Oh, wait. I really don't know why companies have all of these convoluted or unpublicized rules. Not sure who it helps.

 

Imagine something like this: "You will be approved for our card if your FICO 8 score is over 690 and your debt to income ratio is below X%." Better yet, do SP preapproval/offers like GS/Apple.

 

I digress. OP, a simple read is that your scores are lower than the range everybody says this card looks for. Utilization is also pretty high, though I assume that's baked into the scores. Good luck!


FICO Resilience Index: 66. Cards: 13/24, 2/12, 2/6. Accounts including loans: 14/24, 3/12, 2/6. At first accidentally, later deliberately, I used what I call the "thick-start" build method, which leads to heavy credit-seeking for a while with the goal of coming out of it without needing to build a thin profile for years. There are pros and cons. Thread describing method
Cards (oldest to newest)


Authorized user / Corporate / Auto loan / Personal loan

Card CLs total $144,100, not counting the AU card. The AU card brings the total to $170,600. In March 2019, card CLs totaled $0.
CU and bank memberships: Coastal Credit Union, member since 1987, direct deposit; PenFed, member since 2019; Navy Federal, member since 2020; USAA, member since 2020; Chase Bank, member since 2020.

Closed but still on reports: American Express Delta Gold, $1,000, 09/19-10/20 | American Express Hilton Aspire, $3,100, 09/19-12/20 | Citi secured, $200, 04/19-09/19 | Capital One secured, $300, 04/19-08/19 | My Jewelers Club, $5,000, 05/19-08/19 | Green Dot Primor, $300, 05/19-08/19 | Self Lender secured $500 loan, 04/19-01/20 | Unsecured personal loan from Coastal, $1,000, 06/19-08/19.
Note: My signature is updated frequently, and updates appear on all instances of my signature including on old posts.
Message 17 of 31
FrenchFico
Regular Contributor

Re: Wells Fargo Propel Decline


@M_Smart007 wrote:

@FrenchFico wrote:

Who do I have to $@#% to get this darn card? TBH I knew my chances were slim but since it's my goal card I gave it a go. Took a 6pt hit on EX for nothing. Even after recon no dice. 


 

I don't know if this is your current EX score?

 

Current Score 1/4/20: EX 676 EQ 686 TU 669

 

 


Yes it was my current score before the pull. Now 670. Where can I get that info you posted about credit score requirements?

Starting Score 14/6/19: EX634 EQ683 TU663
Current Score 10/20: EX 710 EQ 718 TU 701
Goal Score: 750


Take the myFICO Fitness Challenge
Message 18 of 31
FrenchFico
Regular Contributor

Re: Wells Fargo Propel Decline


@KJinNC wrote:

Wouldn't it be great if there was a universal benchmark score, and companies could simply look at that score plus income, and perform simple math to decide to approve or deny? Oh, wait. I really don't know why companies have all of these convoluted or unpublicized rules. Not sure who it helps.

 

Imagine something like this: "You will be approved for our card if your FICO 8 score is over 690 and your debt to income ratio is below X%." Better yet, do SP preapproval/offers like GS/Apple.

 

I digress. OP, a simple read is that your scores are lower than the range everybody says this card looks for. Utilization is also pretty high, though I assume that's baked into the scores. Good luck!


Noted.

Starting Score 14/6/19: EX634 EQ683 TU663
Current Score 10/20: EX 710 EQ 718 TU 701
Goal Score: 750


Take the myFICO Fitness Challenge
Message 19 of 31
rafy023
Regular Contributor

Re: Wells Fargo Propel Decline

Sorry for the denial, OP. I got mine in 2016 literally a few days after closing on my house... the mortgage was with WF too but I don't know if the credit department would know that since it was too soon for it to show up on my CR (I was waiting to close on the house to apply for this card). My scores were probably similar to yours... they may have been in the 690s or so and the UTI was probably also similar or higher than yours is. Do you bank with them? I think they like when you have an established relationship with them - I've been banking with them since 2009 so maybe that helped. If you really want this card and don't bank with them you may want to consider opening up a checking and savings account and using it. Also, how thin or thick is your file? I opened my Discover card in 2006 and had two car loans by the time I applied for this card too in addition to some other credit cards so maybe if your history isn't too long you may want to let it age a little... just taking some shots in the dark. Not sure if this would help but it's worth a try (letting the credit scores hit 700 as a safety would be ideal too).

 

Hope this helps... good luck!



FICO 8 Scores
EX: 773
EQ: 784
TU: 772
Message 20 of 31
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