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Do you guys recommend Wells Fargo credit cards?

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Regular Contributor

Do you guys recommend Wells Fargo credit cards?

I was send an offer (pre-qual) for the Visa Platinium, 21.74% APR, 0% APR for 18 months and cellphone insurance included  



Starting Score:EX: 713 EQ: 698
Message 1 of 24
23 REPLIES 23
Moderator

Re: Do you guys recommend Wells Fargo credit cards?

WF seems to be a decent bank in my experience with multiple products over the years.

What does the actual offer state on the mailer...pre-selected or pre-qualified?
Message 2 of 24
Frequent Contributor

Re: Do you guys recommend Wells Fargo credit cards?


@Isacking97 wrote:

I was send an offer (pre-qual) for the Visa Platinium, 21.74% APR, 0% APR for 18 months and cellphone insurance included  


Only if you dont mind not being able to ever do a product change. 

Message 3 of 24
Contributor

Re: Do you guys recommend Wells Fargo credit cards?


@Green456 wrote:

@Isacking97 wrote:

I was send an offer (pre-qual) for the Visa Platinium, 21.74% APR, 0% APR for 18 months and cellphone insurance included  


Only if you dont mind not being able to ever do a product change. 


that's what the SD if for since you have to wait XX months before you qualify for another bonus anyway.  I would say go for something with a bonus attached instead of the Platinum.

500K+ TCL / 800+ FCOs
Message 4 of 24
Moderator

Re: Do you guys recommend Wells Fargo credit cards?


@Green456 wrote:

@Isacking97 wrote:

I was send an offer (pre-qual) for the Visa Platinium, 21.74% APR, 0% APR for 18 months and cellphone insurance included  


Only if you dont mind not being able to ever do a product change. 


Actually, I've been able to PC WF cards in the past without any issues.  The only drawback to their PC process is that they close the old account and the PC'd product ends up being reported as a new account.  In a variety of cases, which is not common for PCs with other lenders, WF allows you to be eligible for the SUB provided you meet certain criteria.   IIRC, @AverageJoesCredit was able to PC his WF CC. 

Message 5 of 24
Frequent Contributor

Re: Do you guys recommend Wells Fargo credit cards?

I burned Wells back in 2008 and just got approved for $6k SL a few days ago with a 0% APR for 15 months...Yes I recommend them

EQ 812 / TU 802 / EX 818 (Before the credit sprees will update soon)
Message 6 of 24
Community Leader
Senior Contributor

Re: Do you guys recommend Wells Fargo credit cards?


@Isacking97 wrote:

I was send an offer (pre-qual) for the Visa Platinium, 21.74% APR, 0% APR for 18 months and cellphone insurance included  


Do you have bank accounts with them? If so, be wary. I have a checking account with them and got the same mailer with pre-qual code. App'd and got 'under review'. Letter arrived a week or so later with three reasons for the denial:

- You bank account balances aren't high enough (guilty, I don't trust you to keep much money with you)

- You have inquiries! (guilty as charged)

- Your bank account hasn't grown over the past year (guilty, I only opened it in January)

 

I drained the checking account last week, will close before the statement on the 18th. To answer your question: No, I don't recommend anything from Wells Fargo.


Fico 08: 720/721/719 TU/EX/EQ
Message 7 of 24
Contributor

Re: Do you guys recommend Wells Fargo credit cards?


@DaveInAZ wrote:


Do you have bank accounts with them? If so, be wary. I have a checking account with them and got the same mailer with pre-qual code. App'd and got 'under review'. Letter arrived a week or so later with three reasons for the denial:

- You bank account balances aren't high enough (guilty, I don't trust you to keep much money with you)

- You have inquiries! (guilty as charged)

- Your bank account hasn't grown over the past year (guilty, I only opened it in January)


You're my case in point when others suggest getting a depository account to increase their chances with other products in the future.

 

I haven't put money into an account w/ a lender in years and intend to keep it that way.  It's not worthwhile to park cash somewhere for a piddly 0.10% or less.  The perk with BOA Rewards "bonus" also doesn't make much sense to me.  I'll take my high yield high balance 2.5% CU account all day long.  Why should we give the banks a free loan to bump their balance lines for shareholders?

500K+ TCL / 800+ FCOs
Message 8 of 24
Mega Contributor

Re: Do you guys recommend Wells Fargo credit cards?


@Obscure-Expert wrote:

@DaveInAZ wrote:


Do you have bank accounts with them? If so, be wary. I have a checking account with them and got the same mailer with pre-qual code. App'd and got 'under review'. Letter arrived a week or so later with three reasons for the denial:

- You bank account balances aren't high enough (guilty, I don't trust you to keep much money with you)

- You have inquiries! (guilty as charged)

- Your bank account hasn't grown over the past year (guilty, I only opened it in January)


You're my case in point when others suggest getting a depository account to increase their chances with other products in the future.

 

I haven't put money into an account w/ a lender in years and intend to keep it that way.  It's not worthwhile to park cash somewhere for a piddly 0.10% or less.  The perk with BOA Rewards "bonus" also doesn't make much sense to me.  I'll take my high yield high balance 2.5% CU account all day long.  Why should we give the banks a free loan to bump their balance lines for shareholders?


I haven't done it myself but the argument is that the BoA bonuses can be had using Merrill Edge accounts, and in many cases parking $100K in a (say) well chosen S&P500 index fund is sort of broker-agnostic, pretty much the same expenses/performance everywhere.   So may as well be there if you have the card.

Message 9 of 24
Community Leader
Super Contributor

Re: Do you guys recommend Wells Fargo credit cards?

Lol, i pc'd my AF Amex Propel alrightSmiley Happy. Right into a new account and hp so really wasnt a true pc per seSmiley Wink. I havent had any issues apart from slight miscommunication over the pc, or lack there of. Got the SUB for the Cash Wise, didnt get the SUB on the Amex due to getting the CW in past 15 months. Do now get Bt offers, ie 12 months at 0% but 3% fee. Worth a shot if you can use the Propel well or just for some lender diversity. ImoSmiley Wink
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Message 10 of 24