Common reasons people get denied for Wells Fargo

[Anonymous]

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@AwsiDooger wrote:

... despite the hard inquiry from Wells Fargo that led nowhere. 

I was so annoyed at the Wells Fargo denial that I looked around and applied for TD Bank, just so I'd be on a winning streak and not a losing streak. They approved me for $3800...

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That sounds familiar 😁

I was angry with WF for rejecting a pre-approval (again) so I opened a chase checking acct and planned to switch. Waited for inqs to get to 0/12, app-ed for a chase hotel card in April, and got a double-pull rejection that was completely unexpected.

I was angry enough with chase that I closed my freedom card and chase checking, opened new checking/savings with HSBC & "rage-apped" for an hsbc travel card I didn't need. But I got it, with a decent limit and very good apr. They also processed the SUB quickly, mid-cycle. I would say that I've found my new bank...but hsbc is shutting down in the US. Maybe I'll try TD next 😁 

[Anonymous]

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@Anonymous wrote:

I use an old fashioned steno book, every card I list with a due date and amount due. Then another page I have the closing date for each card, once the statement closes I use the cards for a day or two and put them back into the porfolio. It is easy to manage them all and be sure that most are paid in full. 

Mark

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Interesting strategy, do you list them alphabetically, by bank and then alphabetically, or by open date and then alphabetically? And if it's by open date is it recent or old accounts first?

[folks19]

So I ended up applying, and DENIED...for too short of a credit history and average time since accounts were established.

My AoOA = 2 years.

My AAoA = 6 months.

[FinStar]

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@folks19 wrote:

So I ended up applying, and DENIED...for too short of a credit history and average time since accounts were established.

My AoOA = 2 years.

My AAoA = 6 months.

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Well, bummer.

On the upside, you've shared an extra DP (and denial reason) so that others in the community will see for future reference ✔️

[Anonymous]

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@AwsiDooger wrote:

Anyway, after departing Las Vegas I eventually applied for credit cards and it has been a hysterical experience based on how various companies deal with my backround. Often I receive phone calls asking about various matters, once I put down Gambler on the application.

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Good story, especially the Kaufman part!   I can see that Gambler might make an issuer a little nervous, as it covers "out of control, loses all assets and income" to "likes a flutter now and then" to someone who maintains it as an income source.

So maybe  a slight title change to "Self-employed in the entertainment industry"!   That might be worse....

[370Z]

based on the 2 rejection letters I received:

- too many open/closed credit cards (no card apps in over a year previously and few inquiries)

- number of cards carrying balances (not sure what this means as I PIF after statement close)