Wells Fargo Recon.

[kdm31091]

Unfortunately, even a "solid" preapproval is never a guarantee. You have every right to be upset about it but ultimately they didn't like what they saw on further review of your file.

IIRC you have a lot of inquiries and new accounts so you may just be out of luck for now. It never hurts to recon but I'd echo that they are not known for recon results. Nothing lost by trying though. I'd just sit in the garden for awhile.

[Vegas4Play]

Had a car loan with them years ago I will never app for any of their products, venting.

[Anonymous]

No. When I say lines, I mean revolving lines of credit.

[Anonymous]

My comment is based on the reporting agencies that I saw on comment on credit scores. For example, if someone has many lines of credit, I may see a score of say 730 and the comment would be "too many revolving accounts". This means that the score could be higher with reduced number of revolving lines. It some cases I advised the customer to close the newest lines and I saw the score jump when they reapplied.

Second, I saw the best scores (800+) when applicants had less than 10 lines. I would go as far to say that they had around 5.However, if someone has credit lines that are 20+ years old and an average credit history of 20 years than they could be over 800 even though they may have more than 10. You could say that the most important factor is the average length of credit history when having several lines of credit.

I typically advised customers to stay away from vanity cards (like department store cards) and find good rewards cards and PLOCs that you will use to get the most benefit. Lastly, I would tell them to call those banks every year or so to seek a credit line increase, so you can get your ego line that you like.

Be advised that I have reviewed 1000s of credit reports.

[Anonymous]

Yes, I worked at both US Bank and Wells Fargo over the years.

[Anonymous]

@Numbercruncher444@


😃😆😃THKS!!!! For input!!!!😃😆😃

[Anonymous]

Not to be negative here but "pre-qualified" or "invitation" is never the same as pre-approved.  You obviiously did not get a good CSR which is why I always say visit a branch if at all possible (the CS will be far, far better). 

In terms of the CSR referencing balances could it be you are not PIF before your statements are cutting?

[Anonymous]

Anytime my friend :-)

[smoop88]

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@Harvey26 wrote:

Applied for Wells Fargo Rewards Visa and was declined due to too many recent credit inquires and as I explained to the gentleman is that I have already talked to EQ about the inquires cause not all of them were done by me, he then proceded to tell me that my balances on my credit cards where high compared to the limits, I then told him that I pay all my credit cards in full every month, I said you can see my checking account you can see the payments leaving my account. He then said ok we will resubmit for reconsideration and I was kind of upset because why say I am pre approved and then you decline me like that is ridiculous. Then I asked what my credit score was he told me that he couldn't not tell me the exact number that he could only tell me high 700s. I was like what kind of business is this to myself. But does anyone know of recon number to call to speak with an analyst or someone to explain my issue too and has anyone had any sucessful recons with them.. 

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I was prequalified for the college version via email and mailer and I was denied last week.

[Anonymous]

I think you were unlucky with this rep. I have at least 20-30 inquiries on each on my reports and I got instant approval for a Wells Fargo card. Recon your denial!