cancel
Showing results for 
Search instead for 
Did you mean: 

Wells Fargo Propel application Denial, then Approval DPs

tag
Anonymous
Not applicable

Wells Fargo Propel application Denial, then Approval DPs

Greetings ya'll. I just wanted to share this story and associated DPs on how I got approved for the Wells Fargo Propel card.

 

I initially applied for the card in August. My WF Fico (EX) score was 747. I had a decently long (7+ years) banking experience with WF and had three accounts, to include one credit card account. I had 4 inquiries on my credit report for the previous 24 months and just one for the previous 12 months. I had 1 or 3 new accounts in the past 6 months, depending on how you calculate it. If you calculate down to the day, then I had 1 accounts (credit card) that was less than 6 months old. If you calculate just by month, then I had 3. Perfect WF payment record and no late payments in the previous 2.5 years. Income is about $80k a year. 

 

My app initially showed as "pending." I called customer service for info and they said that my app was denied due to too many accounts int he last 6 months. The rep sounded very surprised when reading out the denial and the reason, given my history with WF and my score. They offered to send it to be reviewed, and it was. It was declined again by the underwriter, citing the same reason.

 

So I waited 8 months and placed another application. This time, my score was 742 and I had 1 new account in the previous 6 months + 2/5 inquiries in the past 12/24 months. This time, I was approved for $3,000 instantly. So it looks like WF really harps on recent account openings as even my history with them and decent score wasn't enough for them to grant an approval. Also, talk about stingy! I know that WF doesn't give out high credit limits often but my 7 year old WF credit card only has a $3,000 limit and has been that way for at least 5 years or so. This is compared to my Chase and AMEX cards that have $20k+ limits. Not complaining as I am just happy I got it, but sheesh!

 

Hope this DPs help Smiley Happy Best of luck with your apps. 

14 REPLIES 14
KatSoDak
Frequent Contributor

Re: Wells Fargo Propel application Denial, then Approval DPs

Nice job figuring out how to maneuver WF approvals!  Currently they seem to be on a $1500 CLI every six months so mark your calendar to call them in October. 

FICO 8:

EQ FICO 9 - 770
EX FICO 9 - 758

Citi (2) | Discover | HSBC | BOA | NFCU (2) | WF (2) | Simmons Bank | FNBO (2) | PENFED | BBVA | US Bank | Lowes | Care Credit | Home Depot AU
Message 2 of 15
CreditAggie
Community Leader
Super Contributor

Re: Wells Fargo Propel application Denial, then Approval DPs

Congratulations on your Wells Fargo Propel approval!

Current Cards (in order of approval):

         
Current FICO 8 | 9 (February 2024):  
Credit Age:  
Inquiries (6/12/24):  
Banks & CUs:

Message 3 of 15
M_Smart007
Legendary Contributor

Re: Wells Fargo Propel application Denial, then Approval DPs

Congratulations on your Propel approval! ...If the rumor is correct about them cutting off new applicants?,

Then you got it in the nick of timeSmiley Happy   .. It's a decent card for no AF.

 

Message 4 of 15
AllZero
Mega Contributor

Re: Wells Fargo Propel application Denial, then Approval DPs

Congratulations on your approval! Thank you for sharing the data points.
Message 5 of 15
gdale6
Moderator Emeritus

Re: Wells Fargo Propel application Denial, then Approval DPs

Grats on getting in the WF credit door Smiley Happy

Message 6 of 15
SEAlifer
Established Contributor

Re: Wells Fargo Propel application Denial, then Approval DPs

congratsfetti.gif

AU

Message 7 of 15
cashorcharge
Community Leader
Super Contributor

Re: Wells Fargo Propel application Denial, then Approval DPs

That's terrific!  Congratulations on your approval!! 🎉🥂

Message 8 of 15
Anonymous
Not applicable

Re: Wells Fargo Propel application Denial, then Approval DPs


@KatSoDak wrote:

Nice job figuring out how to maneuver WF approvals!  Currently they seem to be on a $1500 CLI every six months so mark your calendar to call them in October. 


Oo, is that so? Does the CLI require a hard pull? 

Message 9 of 15
Anonymous
Not applicable

Re: Wells Fargo Propel application Denial, then Approval DPs


@M_Smart007 wrote:

Congratulations on your Propel approval! ...If the rumor is correct about them cutting off new applicants?,

Then you got it in the nick of timeSmiley Happy   .. It's a decent card for no AF.

 


Oh really? Wasn't aware of that. Good timing 😅 I wonder what they will do instead.

Message 10 of 15
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.