WF Reflect - approved but low limit

[msjs91011]

I was approved for the Wells Fargo reflect card with a 6500 starting limit. I need to put about 13k onto this card, so obviously I am in a bit of a pickle. I already have one card with them, with a 16k limit. 

I got the approval today, and called one of the UW numbers and requested that the starting limit be increased due to needing to make a large purchase. She told me she was part of the "applications department" and that I had to wait for the plastic to come in the mail and call the number on the back of it to request a limit increase. 

I'm wondering if I did something wrong here or if that's their normal process. I need this limit higher in order to keep the utilization down. 

I see the norm here is to keep the card/limits etc in the signature so I will go do that now because it should help with any questions on my situation.

Edit: since i'm new i cant do a signature. I have 100% payment history, 2 hard inquiries, 5% utilization on 105k in available credit, and scores are 805 equifax and 812 transunion. 

[NoMoreE46]

Yes, with WF you need the CVV code to validate the requests.    They might still offer credit limit reallocation from your $16k card should plan A not work out. 

---

@msjs91011 wrote:

I was approved for the Wells Fargo reflect card with a 6500 starting limit. I need to put about 13k onto this card, so obviously I am in a bit of a pickle. I already have one card with them, with a 16k limit. 

I got the approval today, and called one of the UW numbers and requested that the starting limit be increased due to needing to make a large purchase. She told me she was part of the "applications department" and that I had to wait for the plastic to come in the mail and call the number on the back of it to request a limit increase. 

I'm wondering if I did something wrong here or if that's their normal process. I need this limit higher in order to keep the utilization down. 

I see the norm here is to keep the card/limits etc in the signature so I will go do that now because it should help with any questions on my situation.

Edit: since i'm new i cant do a signature. I have 100% payment history, 2 hard inquiries, 5% utilization on 105k in available credit, and scores are 805 equifax and 812 transunion. 

---

[CreditMagic7]

Congratulations on the new card!

[omgitsMatt]

This user was able to do a credit limit reallocation from his Active Cash to his newly approved Reflect just last month.

https://ficoforums.myfico.com/t5/Credit-Cards/Credit-limit-reallocation-with-Wells-Fargo-Reflect-0-B...

Give that a try.

If you have success, can you please come back and let us know?

I'm going to try this next month

[msjs91011]

Yes, will happily come back and let you know. 

I spoke with WF last week over the phone about different options and they actually suggested this reallocation as an option. So if I can't get them to my target then I will try for the reallocation as well. 

Should I be clear with my intention for the requested increase? (Keeping utilization under 30%)

[firefox100]

I don't think is totally true that you need to wate for the physical card to get credit limit increase on new creditcard. Check out my post about my Attune mastercard from Wf, Last I went on line and apply for the Attune MC and got approved with 4K limit on holiday weekend called back the next business day and talk to credit operations was able to get the limit increase to 10K, by away I also have the Autograph with 25K limit.

[omgitsMatt]

---

@msjs91011 wrote:

Yes, will happily come back and let you know. 

I spoke with WF last week over the phone about different options and they actually suggested this reallocation as an option. So if I can't get them to my target then I will try for the reallocation as well. 

Should I be clear with my intention for the requested increase? (Keeping utilization under 30%)

---

Yeah, you can be straightforward. As far as I know, they don't seem to have a problem for giving recons on starting limits or credit limit reallocations simply for wanting better utilization.

However, its a coin flip about the starting limit reconsideration as far as I have read over the last few years when folks were kind enough to share data points. Some get a successful recon, some don't.

Credit limit reallocations are more certain, but the caveat is that the policy was once you had to have _zero_ use/activity on the donor card for 6 months. That _seems_ to have been lifted very recently via several threads the last few months. Having no balance and very possibly over a year old on the account is what matters for now.

Is the donor card over a year old? Is it at zero balance? Has it been used in any way the last six months?

A year old isn't validated though, its just an educated guess from older data points. The most recent threads had the donor cards over a year.

Good luck, sorry for the slow reply and thanks for keeping us updated! It'll come in very handy for me in a few months (and many ppl lurking) when I try to do everything you're also doing!

[cashorcharge]

Nicely done!! Congratulations on your Approval!!👏🏼🍾🥂

[msjs91011]

I got the card Saturday and called them today, requested $50k and got $16k. They did offer a reallocation but I declined to do it today because the purchase i need to make will just be broken up amongst this card and another one my wife will have to open. Its a bit unfortunate but these guys sounded like I was asking them to finance an Aston Martin when I said I wanted a 50k limit to keep my utilization low (20% would be what this card would've been). 

[omgitsMatt]

---

@msjs91011 wrote:

I got the card Saturday and called them today, requested $50k and got $16k. They did offer a reallocation but I declined to do it today because the purchase i need to make will just be broken up amongst this card and another one my wife will have to open. Its a bit unfortunate but these guys sounded like I was asking them to finance an Aston Martin when I said I wanted a 50k limit to keep my utilization low (20% would be what this card would've been). 

---

Thank you so much, I really appeciate it.

You were able to get the $6,500 limit raised to $16,000, giving you the room you needed to do a $13,000 balance transfer? They were also willing to let you do a credit limit reallocation from your established $16,000 credit card with them, but you declined?

So if I understand, you ended up with two 16k credit cards, got the successful credit limit recon but decided not to do a credit limit reallocation even though that was available?

One last question if you don't mind, that original $16,000 credit card, did it have any balance or use in the last six months?

Thanks for circiling back and letting us know the update and congrats on getting them to meet you in the middle and work something out, sorry it was for what you wanted entirely.