Nearly 3 months ago I posted about my experience requesting a CLI for my WF Active Cash card, which I was declined for. The letter I got in the mail mentioned that one of the reasons they were denying the CLI was that I hadn't been keeping enough money in my WF accounts. (There was at least one other reason, which I think was that I didn't have enough credit history with the card, even though I've been banking with them for 14 years.) Unfortunately I don't know where that letter is and I didn't find it in my online account center, so I'm not sure exactly what it said.
Since then I've been keeping a little more money than usual in my WF account. Now that I'm banking with 3 companies (WF, Chase and Capital One), that's been more challenging than it used to be. But even though I like C1 more for regular banking, WF and Chase do take my account history into account for their cards. And it became clear during my last CLI denial that my banking history with them could affect me negatively, even though (or perhaps because?) I didn't do anything to incur fees since getting the card.
That's why I added a WF saving account about a month ago to park some of my money. I even moved some of my C1 money to pad my WF accounts a little more, at least until I got approved for a CLI. I also paid the card further down over the last few months - it was around $1700 at the time I originally requested the CLI, and today it's just under $1,000. Since it's still at 0% APR through the end of the year I'm not in a hurry to pay it all off yet, but I figured it would probably help more than the extra money in my WF accounts.
Today I called WF back for a CLI and got one, from $4,500 to $5,700 (a nice 27% bump). I explained at the beginning of the call that I wanted it because I plan to put more of my expenses on the card, which is true. And part of the reason why I want to do that is because WF is expected to release at least one premium travel card by early next year. If that card is attractive to me, then I maximize my chances of approval at great terms through positive history.
My next moves with the card are to get the balance down to zero and use it for more of my expenses, including at least some of the 2% Apple Pay charges that I'd normally put on my Apple Card, and charges I'd normally put on my Chase Amazon Prime card (currently at 2% through the end of the year thanks to a targeted offer). But I may ease into using the WF card more over my Apple Card, since Apple/GS has recently told me that I'm declined for a CLI right now until they see more history of my using and paying off that card. I plan to use that card more for at least the next month or two, and use my Chase Amazon card less for non-Amazon things.
After getting this CLI and the $600 CLI that I recently got for my PayPal Credit, I'm now long out of of the game for applying for new credit simply to pad my account. And that feels great!
Almost forgot to mention - my current Experian FICO 9 score from the WF app is 702, up 13 from last month (after it decreased from getting a car loan). I was at 700 back in April, and 689 in October when I was approved for the Active Cash card.
Active Cash Card CLI!
