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Wells Fargo Amex new propel card / with Data!

clark_d_shark
Established Contributor

Re: Wells Fargo Amex new propel card / with Data!


@risingup2day wrote:
Thank you, Wow cool!
Thank you, Voltronm!
Thank you, Issac2x!
Thank you, 4theloveofpoints!
Thank you, Whattickawhat!
Thank you, Ccdoctor!
Thank you, AJC and Clark_d_shark -

LOL love the “Best seller!” statement! Some coffee came out, while reading your comment! Now I’ll be smelling the scent of coffee and slight burning feeling all day😂🤣. I couldn’t agree with you both more! Not sure how or why I got in, considering it’s WF. I have read a lot of people getting turned down for credit with so much better profiles than mine, but I’m stoked!

Btw AJC - if you dive in, drop a line and keep us in the loop.


Glad you liked my best seller list statement Smiley Happy this is probably a good sign of what is to expect from WF moving forward. Although I understand why banks would want to be exclusive to their existing banking clients, unfortunately, we all can't open a checking and savings account with all of them in attempts of building some relationship. BofA approvals as of late seem to weigh heavily on existing relationship with their bank. I recently had to open a checking account with Chase and moved my DD for payroll over to them just to start creating some sort of relation, so when I go under 5/24, I may have better odds of getting one of their cards in the future. My mom uses WF in VA and she loves their CS. 

Fico Scores as of March 2020 TU (739) EX (748) EQ (776)



Message 21 of 33
risingup2day
Contributor

Re: Wells Fargo Amex new propel card / with Data!

Yes, BOA is like that. I have a secure card with them 99/500 and 16 months later still secure. I keep getting invitations to sign up for a checking account and they will give me $100 with two qualifying DD. I am thinking of popping in and grabbing that bank note and bouncing out like tigger!

Well, wishing you the best with Chase when your time comes up! And remember your relationship with a Chase is going to a lot like a marriage, keep her happy by always doing as she says and saying, “ Yes, honey. You are right.”! 🤣😂 Thank goodness, Chase doesn’t appear to have any in laws!
Message 22 of 33
Malcono
Regular Contributor

Re: Wells Fargo Amex new propel card / with Data!

Congrats and thanks for all of the data points.



                                                  
                                                                                              
Total Credit: $107,000Utilization: 1%AAoA: 2yrs, 4mthsAoOA: 3yrs, 1mthAoYA: 1yrs, 10mthsBaddies: 0

Message 23 of 33
lexus829
Contributor

Re: Wells Fargo Amex new propel card / with Data!

thats awesome congrats!! and thanks for the data points!
11/2016 - EQ(575)/TU(550)/EX(565) Current - EQ(675)/TU(680)/EX(678) Goal – 700


Message 24 of 33
Coolermaster007
Contributor

Re: Wells Fargo Amex new propel card / with Data!

Was approved for $5.5k can i recon the Limit before the card arrives ? Will it be another HP ? Thanks guys
Message 25 of 33
Meanmchine
Super Contributor

Re: Wells Fargo Amex new propel card / with Data!

Super congrats on your new WF approval

If you did all of this work for one card, Id hate to see what youd look like after a 5 card app spree


3/2016 EX 644 CK-TU 642 CK-EQ 660 WalMart- 671.
>12/2020 CCT EX 821 TU 826 EQ 840


"Survival kit contents check. In them you'll find:

- One forty-five caliber automatic
- Two boxes of ammunition
- Four days' concentrated emergency rations
- One drug issue containing antibiotics, morphine,
vitamin pills, pep pills, sleeping pills, tranquilizer pills
- One miniature combination Russian phrase book and Bible
- One hundred dollars in rubles
- One hundred dollars in gold
- Nine packs of chewing gum
- One issue of prophylactics
- Three lipsticks
- Three pair of nylon stockings.

Shoot, a fella' could have a pretty good weekend in Vegas with all that stuff."

Major Kong (Slim Pickens) in Dr. Strangelove 1964
Message 26 of 33
risingup2day
Contributor

Re: Wells Fargo Amex new propel card / with Data!

Thanks Meanmchine,

LOL it don’t even want to think about trying to app for 5 cards I really want!!! I’d be a train wreck!

It was a card that really peaked my interest. That’s why I researched and tried to gather as much information before pulling that trigger. And truth be said, didn’t think I had a chance. I KNOW I can’t get Chase, Citi, or Amex in the near future since I burned them. Only time will heal that wound, so I’m off to the garden for long time. Nothing else on the market, but I may come out for Penfed Cash card to fill in the blanks with their 2% CB. Maybe September. Then off the grid, I go. Til the moon sets on those lenders above!😏
Message 27 of 33
Gmood1
Community Leader
Super Contributor

Re: Wells Fargo Amex new propel card / with Data!


@risingup2day wrote:
Thank you, Gmood1!
I was reading a link on the revamp page and saw your approval! Big congrats to you!!! Got a real nice SL too! Are you going to recon for more when you get your card? I’m super excited to get that clean looking card too!

Thank you, Alohawinn!
If your profile is better than mine, then dive in! Provided some good data points and if your profile is closer to to Gmood1 then that equal great SL! Keep us posted if you apply.

Yes I'm going to recon. I tried yesterday morning. The UW couldn't get it to work with the card not being activated. So I'll wait till it shows up. It shipped on the 18th. Best guess is Saturday or Monday it will be here.

Message 28 of 33
soupy5
Frequent Contributor

Re: Wells Fargo Amex new propel card / with Data!

Congrats!



Current Scores Jul 2020 – FICO 8
Message 29 of 33
soupy5
Frequent Contributor

Re: Wells Fargo Amex new propel card / with Data!


@risingup2day wrote:
Hello all,

FYI, I enjoy reading people success stories and more details the better the read. I have included some fine details so if you are like me. Come in, relax, pull up a chair, your choice of drink and I hope you enjoy it. If you don’t like to read scroll to the bottom, where I have listed my details in terms of data. In the event you are on the fence. Maybe this will help you gauge your chances of a successful app.


Since I saw this card last week and heard it was coming out on Monday the 16th, I have been debating applying for the last few days. The categories for the 3 PT’s where right up my alley and the $300 bonus wasn’t too bad either. Research the heck out of this card and Wells Fargo too. Heard they are a very conservative bank, which added to my dilemma because of my profile - BK7 in 2014. Plus I don’t have a relationship with Wells Fargo. Well, on my way to vitamin shoppe, I saw a Wells Fargo and decided to go in to talk to one of the bankers with some of these concerns - plus I thought it would give me some inclination on the odds of my approval.

After 30 to 45 minutes talking with the banker. I expressed areas of concerns.

1. Lack of relationship with WF. (This plays a huge role in your application or so I have read)

2. Some cards are offered only to members again relationships play a factor. In this article I read a day ago, the person reported that a WF corp person stated this card was going to be opened to the public. In simple terms, I looked at this from a logically point of view. WF needs apps to make money. Typically, it could go either way. Come out loose to get some numbers, then tighten up. Or come out tight and if the numbers not there, loosen up a bit. Based off the current data I found it was tight. Not a lot of success stories to date. The ones I have seen profiles were much better than mine.

3. Years ago I had banked with WF and couldn’t remember if I left on bad terms with them. Which I knew they could check - some sort of risk assessment something that he stated was like Chex systems, but checks WF internal records Not sure if this is true, but sounds legit.

4. My BK7 - which WF was not included, but being labeled “conservative” weighs heavy.

5. Since this card came out, what was the success rate of applications? I even called the CSR over the phone and the rate was not good. One rep stated opening day, he took several apps and only one was a instant approval. Most went pending. And a hand full were denials.

6. Those approved, what was the SL? Were they toy limits and something that was workable to obtain the bonus. The banker didn’t want to talk about this. No numbers atleast. But he did say the few approvals he saw the SL he saw were “decent”. Phone CSR stated the only instant person got $30k, but has been with WF for years!

So data equaled up to leaning towards denial and I told him this. He laughed and told me, “if you were not wearing your work uniform, I would have guessed your were in financing or a banker!” Lol I told him I read a lot of forums, mainly my Fico - we both had a laugh. After spending sometime with him and built a good rapport because we talked about things in life things too, casual things. It came down to the final question. “ Would you like to apply?” I decided sure. My chances were not going to change. I am going to see if a relationship is important, if the BK7 was a factor. It wouldnt change regardless when I app for it, But if the pull and I was able to recon it, just maybe I could get in. Started the process and standard questions. He told me that based off my BK7 less than four years ago, this hurts my chances. On the other side, when it came to my job and length of time (15 years) may have helped a little because it shows stability according to him. Income is 60k.

Going through the app process. Asking some questions here and there. After a few minutes of silence minus his typing - he must have picked up on this because he looked at me and replied “I am writing what we discussed and your concerns - lack there of relationship with us, BK7 and so forth- in your application, more or less a little story about your background.” I thought this was odd, but hey whatever, I guess. This may come in handy if I recon this app. After completing the app and printing the T&C’s of the card - on the pad to my left popped up the agreement that I have received the T&C’s and signing it you agree. I signed it. A few seconds later, another screen popped up for pull of my credit aka the moment of truth. “If you agree to all the terms and wish to proceed with your credit check please select, yes.” I did

After a few minutes, app shows pending He said, “still processing”. After a few more minutes, he said, “okay the application has been submitted, but no reply yet. This is pretty common and my take up to 7 days to see what happens.” I thought great, just what I thought “Denied!” He continues talking about the length of time, decisions and may be in my favor if it goes manual review and he said let me again. Refreshed page and ...


“Oh! Well, your decision came back and..... (with a shocked look on his face)


“Congratulations, Mr. Risingup2day, your application was APPROVED!” I think I said something to the effect, “Don’t play around!” He laughed and said, “I’m not joking. You were approved and your SL is $3500. Congratulations, whatever you have done since your BK7, it would appear WF likes your profile!” He then at the time told me he apped for a Cc and loan with WF and was denied with a score of 730. No baddies, but he had a few inquiries from car shopping. He went through the dealers instead of his bank. His denial was “due to too many inquiries” I told him, “if you would have said that in the beginning, I would not have apped for the card, as I am sitting around 9 to 13 inquires depending on which bureau was pulled.” He laughed and said, “Well, if I did tell you, you would have walked out not knowing but only thinking you would not get it. So in a strange way, “your welcome!” 😂
I couldn’t help but laugh and shook his hand! Thanked him for the long time he spent with me and apologized. His reply was, “no need to apologize, it was a pleasure meeting and talking with you. I enjoyed our conversation. In this business, everything seems to always be about business, but every now and again I have an enjoyable conversations like ours always lightens the day. Thank you! And thank you for your successful app and story you gave me to tell other people that might be in your shoes”.


Time for the juicy details of data.

Utilization is 11%
Average age is about 2 years
Bk7 2014
FILED 8/14
Discharge 12/14
Scores range 675 +/-5 across
Inquiries range 9 to 13
No new accounts in 6-7 months
DTI 9% (I thought I would add this because he asked about it)
They typically pull EX however, in my case oddly they pulled TU according to my alert.
I asked which Fico mode they score, he didn’t know.
My income is 60K
Interest - won’t find out for a few days.

So if there is anything that I did not cover, ask away. The SL is not bad, easy for me to obtain the $300. We will see how this grows in the future.

Good luck all!

Thanks for the detailed information! Question - you indicated they pulled TU (which is a little surprising) - can I ask (assuming United States) in what state was this pulled?



Current Scores Jul 2020 – FICO 8
Message 30 of 33
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