So I already posted my data points in the big propel thread but for the sake of a whoelsome thread i'll repost.
"New member, but longtime lurker here. Figured i'd add my data points to the thread. Applied yesterday in branch and instant approved for SL of 2.5k. Tried calling to get this raised or re-underwritten but not luck, they said I need to have the card first. Switched banking from Chase over to WF about a week and a half ago and i'm an employee of the wholesale side of the bank as a credit analyst for CRE (have a feeling that factored into my instant-approval).
Current Credit Profile:
-CSR 10k Limit (opened Feb '18)
-CFU 3.5k Limit (Opened Mar '18)
-Amex A/U on acct with balance usually 13k+ a month
-Large 25k car lease opened in Mar '18
-Experian 706 at time of app
-TU 722
-EQ 720
WF pulled experian, honestly a little disappointed in the SL but it's not bad I suppose."
So I received the card today (it is a great looking card, slightly lighter than my CSR but negligable and makes up for it in aesthetics). I called to activate and request a CLI so was transferred to a credit underwriter. Was on hold for 10-15 min while she reviewed my app and in the end I was denied because my "chase accounts were new (4 months), and largest balance i've carried on them is $1800. I explained that is the largest balance REPORTED because I pay my cards down almost weekly, and that I hit the chase CSR 4k bonus in my first month of owning the card. She kept insisting nothing she could do at this time and i'd have to wait it out.
Got a little more annoyed and explained that my frustration was that the bank that provides me with my paycheck was extending less than 3.5% of my income in credit to me, whereas Chase was willing to provide 4x that much and it was my first bank CC not counting AU on some other accounts. I brought up my checking/savings account with them (balance roughly 18k). We went back and forth a little bit longer with me still trying to convince her and in the end she said she understood but would have to defer it to a senior analyst, so i'm waiting to hear back from one of them which should be at some point tomorrow.
In the end I found it interesting that I guess it is good to let banks report higher balances to the bureau instead of constantly paying them down, as then it looks like you don't need a line of credit like that. In addition, she stated that WF ignores AU accounts when analyzing credit. I brought up me being an AU on a Citi 35k LOC that was closed 2 years ago, and an AU on an open amex account carrying a 13k+ balance every month PIF.
Will post back with my results after hearing from senior analyst tomorrow. Planning to get this SUB, then app for the Amex Cash Magnet to get that SUB then garden for a while unless something interesting pops up. Eventually when I plan to redeem these WF Go Far Rewards I may get their Visa Signature card as well.
