Wells Auograph CLI and now your checking is a factor

[AzCreditGuy]

I opened my Wells Autograph back in July 2019, before it was a Plat card that I did a PC to Autograph. I recently requested a CLI and was given a $4k increase and just received a letter why they were unable to to give me the full CLI I wanted. 

1. Low balance in my Wells Checking/Savings (a factor)

2. Not Enough recent deposits into my Wells/Savings (a factor)

3. Wells Fargo credit card has not been open long enough to gather payment history (a factor)

I have a bi-weekly deposit going into my Wells Fargos account of $2k...I have a B of A and US bank checking accounts and use the Wells as a pay it all, while the other banks are used as primary funds to build up. 

FYI that CC has been used since 2019 as a monthly auto pay for my cellphone bill

Doesnt matter if your score is 751 , seems Wells wants money in its accounts lol 

[cashorcharge]

That’s Terrific!! Congratulations on your Approval!!👏🏼🍾🥂

[keekers]

Congrats. I wonder how many people that factor turns away from Wells.

[LADave]

Congrats on your approval!

WF is known to give high CLIs to some people who keep small amounts in their accounts, and to people who have no deposit accounts with them. They're also known to give smaller CLIs or denied CLIs while giving low deposit amounts as a reason.

From this, I suspect the reality is that deposits can help clients get CLIs (or better CLIs) than WF would otherwise be inclined to give. But that's mostly a guess. These days, I make sure that I have at least $500 sitting in my WF checking account for a while before requesting a CLI with them.

[NoMoreDebt]

Congrats

[FicoMike0]

Congratulations!  Good info about deposit account.  I'm planning to ask them for cli, I guess I better churn some money 💰through my checking.

[Willy_Ong]

How to request limit increase WF autograph? I can't find the button in the website or mobile app, I really lazy to give them a call lol.

[AzCreditGuy]

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@Willy_Ong wrote:

How to request limit increase WF autograph? I can't find the button in the website or mobile app, I really lazy to give them a call lol.

CLI is call in only...They do that in case they send you over to an underwriter for a HP 

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[Snook_on_the_Line]

I guess I'm gonna have to start keeping more than the $500 min to avoid the monthly fee in my checking for a couple of months before I decide to app for that there active cash card they got.     

Don't wanna get slapped with a toy limit cuz I didn't have my balance up to their liking. 

[LADave]

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@Snook_on_the_Line wrote:

I guess I'm gonna have to start keeping more than the $500 min to avoid the monthly fee in my checking for a couple of months before I decide to app for that there active cash card they got.     

Don't wanna get slapped with a toy limit cuz I didn't have my balance up to their liking. 

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I'm not sure how much you want to get approved for, but keeping a minimum of just over $500 in  seems to have worked for me, for both approvals and CLIs. I wouldn't necessarily go too wild with it.

And remember, there are DPs of 5-figure WF credit card approvals with customers who had no prior history with the bank. In other words, they had $0 in a WF checking account. Of course, it's safe to say that WF saw other things they liked in their profiles. And having plenty of money deposited at WF won't guarantee anything.