Wells Fargo Visa Sig failure

[longtimelurker]

With the nerfing of the Uber, I wanted to get a card that had cell phone insurance but still provided some useful if small reward, and applied for the Wells Fargo Visa Sig (to maybe then one day get the Propel to pair for 4.5% travel rewards).   I used to get preapproved letters for this when I had a mortgage with them.

But got a "need to process" response and when I called I was told I had been declined, for too many non-zero balances and too many cards reporting.   The balances are all from monthly use, and were under $200 each and probably less than $500 total.   I was somewhat surprised as compared to many here I don't have a lot cards but anyway....   A recon call didn't change anything, just an invitation to contact Experion if I thought the report was wrong (which I don't)

I've been anti-AZEO but thought maybe this was time when it would have helped as maybe multiple balances were depressing the score.   However, today I got the letter, and the score is 850.   So I guess they don't like multiple balances even if the score is fine!

[Anonymous]

Ouch....sorry to hear @longtimelurker .

How many cards do you have, if you don't mind me asking? 

[longtimelurker]

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@Anonymous wrote:

Ouch....sorry to hear @longtimelurker .

How many cards do you have, if you don't mind me asking? 

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Just counted!  20 of my own, and AU on 3.    But most are old, with probably 3/24

[Remedios]

Do you bank with them LLT? 

[Anonymous]

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@longtimelurker wrote:

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@Anonymous wrote:

Ouch....sorry to hear @longtimelurker .

How many cards do you have, if you don't mind me asking? 

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Just counted!  20 of my own, and AU on 3.    But most are old, with probably 3/24

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And with an 850, Im truly surprised by your denial. 

[FinStar]

Yeah, I'm definitely surprised LTL and sorry to hear. Of all WF CCs, this was a tough one for me back in the day. At one point I had considered closing and combining the CL with WF Propel World, but then I learned about the multipliers with both Propel CCs so I decided to keep it given the DPs for a variety of profiles being declined.

With as much activity I've had in the past 12 months I was even surprised they approved Cash Wise.

[Anonymous]

That's interesting.

I picked up Propel / Amex CM the same day 12/2018 and my only complaint was the low CL they granted.  I tried to push them on it but, w/o history with WF directly they didn't budge.  I did my homework on them before pulling the trigger with the whole relationship/sans relationship arguement for approval and the deck was stacked evenly for both sides w/ more denials on those that had a relationship.

I had 5 new cards in the prior year to applying for them though too.  I tend to keep balances out of total # of cards low though just for keeping track of things essier.

I would think a no frills Siggy would actually be easier to attain due to the post 6 months period it drops to 1% earn.  It's a bit of a reilc like their stage coach.  

[longtimelurker]

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@Remedios wrote:

Do you bank with them LLT? 

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No, my only relationship with them was a mortgage, which was paid off about two years ago.   The letter invites me to talk to someone about improving credit, presumably a sales pitch of some kind.

[CreditCuriosity]

I can't crack WF either.. Last time applied for propel score was at 800ish.  Same denial reasons as youl.  Around 2k reporting on a decent 6 figure income(meaning can pay any time, but interest free and think it was on 2 cc accounts) .  They are really hard to get in for some of us.  You aren't near as aggressive as myself either.  Wait till you get the letter it is more of a lecture and how to take care of your credit and if you need help vs. a denial letter.  I think that is what mad me most made about it vs. denial it is like they are lecturing you and treating you like a kid how they put their letter.  Out of all lenders they lecture a person(I say this for obvious reasons of their ill deeds).  Sorry to hear about your decline I will not ever apply for them again until I have a firm pre-approval on me and will do it in branch (although probably doesn't make much of a difference).  Shocked you didnt get it.. Sorry.

[Meanmchine]

How many cards were you carrying a balance on?  Remember, its a computer that denied you and all it knows is xx accounts with yy accounts open = too many