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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 Best of luck with your apps.
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.
Congratulations on your Wells Fargo Propel approval!
Congratulations on your Propel approval! ...If the rumor is correct about them cutting off new applicants?,
Then you got it in the nick of time .. It's a decent card for no AF.
Grats on getting in the WF credit door
That's terrific! Congratulations on your approval!! 🎉🥂
@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?
@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 time .. It's a decent card for no AF.
Oh really? Wasn't aware of that. Good timing 😅 I wonder what they will do instead.