Wells Fargo Propel/Discover Approval Odds - Thin File

[Anonymous]

I’m wanting to apply for a discover cash back card and Wells Fargo propel card, I’m looking to get everyone’s input on my approval odds. Right now i have 711 EX, 712 EQ, 721 TU, no collections or anything bad on my report, 3 inquiries in the past year.

The oldest account I have is 9 months from an installment loan. Im about to be an authorized user on a 10 year chase card with a $2,500 limit too. I also make 65k-70k a year to give everyone an idea on my income.

What do you guys think my chances are on getting these two cards? Thank you in advance!

[Anonymous]

Disco I would just check the prequals. If you have one, go for it. Disco tends to really like thin files because it tells them they’re going to get a lot of swipes and an installment loan shows your ability to consistently pay so I imagine it helps more than if you had a 9 month old credit card instead. 

Wells Fargo I really don’t know. There have been some surprising approvals for Propel and some shocking denials as well. 

[Anonymous]

No prequals on Discover unfortunately I’ve been doing a lot of research on here the past two weeks and i think I’ll be pulling the trigger on disco for sure once the 10yr authorized user account shows on my report. I’m looking for a higher limit and hoping they will give me that. I looked on Amex prequals and had the delta gold and BCE pop up, but i have a feeling I’d get yet another 1k limit from them.

Propel is interesting me because of everything you can get 3x points for, I’m definitely a reward chaser and feel like that card will certainly grow in time. Plus it looks really cool

[Andypanda]

If you have a relationship with WF it would help your chances.

[Remedios]

Not necessarily. WF has denied CC accounts because of the low funds in checking/savings accounts for existing customers. 

[CreditCuriosity]

Wells Fargo is hard to figure out.. applied about 7 months ago with a 780ish score and denied.  Granted they don't like alot of new credit which i certainly have, but scores really dont mean that much to then either... kinda like cap1 if not alot of cards recently can get get even with meh scores.  If you do have alot of cards then banking relationship certainly probably could help.  They are kinda all over the place imo parked some money their and waiting for a pre-qual/approval then ill take it unti lthen no more wasted pulls

[Anonymous]

I think i might apply for both on the same day just to see....might as well i don’t have too many inquiries and that would be it for me for awhile!

[Meanmchine]

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@Remedios wrote:

Not necessarily. WF has denied CC accounts because of the low funds in checking/savings accounts for existing customers. 

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Never heard that one before. 

[Anonymous]

Wells Fargo denied me for having a redeemed repo (which is a mistake) from 3 years ago which is only reporting to TU which is who they use. For some reason TU wont remove it even though the other bureaus have. Go figure. I have banked with them for 12 years and am probably going to move to NFCU because of this.

As for Discover, I got approved recently with the score in my sig, they pulled EQ, and 1 baddie reporting. I did have a prequal and got a SL of 1k so YMMV.

[Remedios]

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@Meanmchine wrote:

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@Remedios wrote:

Not necessarily. WF has denied CC accounts because of the low funds in checking/savings accounts for existing customers. 

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Never heard that one before. 

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Yup, there were denials referencing lack of funds in existing depository accounts, and some were referencing NSF checks or overdrawn accounts from years ago