Re: Wells Fargo Reflect Card Denial

jamerican-girl · ‎08-18-2022

I recently got a pre-selected offer from Wells Fargo for the Reflect card with really good terms. It had a specific interest rate as well.

I pulled the trigger last week and was denied. I got the letter in the mail. The reason they denied me was because I had opened multiple new credit card accounts recently. Is there any way around that or I just need to wait it out? I would prefer the try for the Autograph card once I've done some gardening for the next 12 months. Just curious if there's anything you can do about a denial for the number of new accounts.

Thank you in advance for any feedback.

Keepers:
Wells Fargo: Active Cash - SL: $10,000
Synchrony: PayPal MC Rewards - SL: $8,000 CL: $15,000; Venmo - SL: $4,300, CL: $10,000; Lowe's - SL: $2,000 CL: $10,000; Care Credit - SL: 500 CL: $3,000
Amex: Delta SkyMiles Platinum - SL: $1,000 CL: $4,000; Blue Cash Preferred - SL: $2,000 CL: $4,000; Marriott Bonvoy Bevy - SL $1,700; Hilton Honors Surpass - SL: $8,000
Citi: Costco Anywhere Visa - SL: $8,800; CL: $10,000; Custom Cash Card - SL: $3,500; Wayfair Card - SL: $5,000 CL: $9,100;
PenFed: Gold Card - SL: $3,500 CL: $7,500; Power Cash Rewards - SL: $2,500 CL: $7,500
Bread American Express Cashback - SL: $5,000 CL: $7,500
Mercury Finance - SL: $3,500 CL: $4,250;
Goldman Sachs: Apple Card - SL: $6,000 CL: $6,500; Marcus: GM Card - SL: $3,000;
Kohl's - CL: $3,500; CFNA Firestone - SL: $800, CL: $3,200

Sock Drawer:
Capital One: QuickSilver - CL: $1,250 (finally got CLI)
Sofi: SL: $2,500;
Merrick Bank: CL: $1,300 (can't close, one of my oldest tradelines);
BOA: Customized Cash Rewards - SL $500, CL: $1,500;

Chopping Block:
Capital One: Platinum MC - CL: $600 (they won't give me a CLI);
Credit One: 2 cards with $1,500 & $2,200 CL
Prosper: $1,400

Goal Cards:
Chase Sapphire, WF Autograph and PenFed Platinum Rewards

Car Loans: 1 loan.
Car: 2023 Audi A4 SLine
Paid off:
VW Financial Services: 2020 Jetta
Exeter Finance: 2015 Jetta

NoMoreE46 · ‎08-18-2022

Sorry about the denial. The mailer was generated weeks ago. There isn't a solution for applying for too many cards in a certain timeframe.

If you have your heart set on a certain card And you are going on a spree, then it would be best to establish which cards you really want first.

Obviously, an issuer at the other end of a spree is going to notice said spree and provide a denial.

NoMoreE46 · ‎08-18-2022

@NoMoreE46 wrote:
Sorry about the denial. The mailer was generated weeks ago. There isn't a solution for applying for too many cards in a certain timeframe.
If you have your heart set on a certain card And you are going on a spree, then it would be best to establish which cards you really want first.

Obviously, an issuer at the other end of a spree is going to notice said spree and provide a denial.

Just realized that you got your AC card this month. It is unlikely WF will give you a 2nd card in less than a month in of itself as noted- regardless of your other five new cards.

jamerican-girl · ‎08-18-2022

Yes, I got it in the last few weeks. Will wait it out and apply for the Autograph card instead. Thanks for the feedback!

Keepers:
Wells Fargo: Active Cash - SL: $10,000
Synchrony: PayPal MC Rewards - SL: $8,000 CL: $15,000; Venmo - SL: $4,300, CL: $10,000; Lowe's - SL: $2,000 CL: $10,000; Care Credit - SL: 500 CL: $3,000
Amex: Delta SkyMiles Platinum - SL: $1,000 CL: $4,000; Blue Cash Preferred - SL: $2,000 CL: $4,000; Marriott Bonvoy Bevy - SL $1,700; Hilton Honors Surpass - SL: $8,000
Citi: Costco Anywhere Visa - SL: $8,800; CL: $10,000; Custom Cash Card - SL: $3,500; Wayfair Card - SL: $5,000 CL: $9,100;
PenFed: Gold Card - SL: $3,500 CL: $7,500; Power Cash Rewards - SL: $2,500 CL: $7,500
Bread American Express Cashback - SL: $5,000 CL: $7,500
Mercury Finance - SL: $3,500 CL: $4,250;
Goldman Sachs: Apple Card - SL: $6,000 CL: $6,500; Marcus: GM Card - SL: $3,000;
Kohl's - CL: $3,500; CFNA Firestone - SL: $800, CL: $3,200

Sock Drawer:
Capital One: QuickSilver - CL: $1,250 (finally got CLI)
Sofi: SL: $2,500;
Merrick Bank: CL: $1,300 (can't close, one of my oldest tradelines);
BOA: Customized Cash Rewards - SL $500, CL: $1,500;

Chopping Block:
Capital One: Platinum MC - CL: $600 (they won't give me a CLI);
Credit One: 2 cards with $1,500 & $2,200 CL
Prosper: $1,400

Goal Cards:
Chase Sapphire, WF Autograph and PenFed Platinum Rewards

Car Loans: 1 loan.
Car: 2023 Audi A4 SLine
Paid off:
VW Financial Services: 2020 Jetta
Exeter Finance: 2015 Jetta

bigseegar · ‎08-18-2022

@jamerican-girl wrote:
I recently got a pre-selected offer from Wells Fargo for the Reflect card with really good terms. It had a specific interest rate as well.

I pulled the trigger last week and was denied. I got the letter in the mail. The reason they denied me was because I had opened multiple new credit card accounts recently. Is there any way around that or I just need to wait it out? I would prefer the try for the Autograph card once I've done some gardening for the next 12 months. Just curious if there's anything you can do about a denial for the number of new accounts.

Thank you in advance for any feedback.

Nope. One of the very worse things you can do is apply for too many cards in a short period. Not only does it lower your FICO Scores and your AAoA's but it also looks like "credit seeking" to lenders. No way they'd reconsider for that reason. That's also telling you that you need to stop applying and Garden 6-12 months for best results down the road.

D10001 · ‎08-19-2022

If you're looking for a good rate on a car loan in the next year, I'd recommend you plant yourself firmly in the garden. Wait until you're driving off the lot in your new car until you spree,

mfinsmi1 · ‎08-19-2022

its in the fine print that wells fargo will not approve you for a second card if its been less than 6 months

Personal Cards (Over $100k):

Business Cards:

Rebuilding Starting Scores - December 2021

FICO SCORE 8 - Current 10/1/25

Stats: : 1/6; 1/12; 4/24 --- AAoA 5 YRS --- INQ: EX-3/TU-4/EQ-0

Wells Fargo Reflect Card Denial

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Wells Fargo Reflect Card Denial