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Is the wells fargo active cash cc bankrupt friendly?

Remedios
Moderator

Re: Is the wells fargo active cash cc bankrupt friendly?


@FinStar wrote:

@Remedios wrote:

 

I also understand you got myFico itch, it happens when people find this forum.

People arrive with couple of cards, a few months later they have rocks in a backpack while trying to float in the water while putting Chase/US Bank cards as goal cards, when reality is, they won't be eligible for years.  

There will be  rewards cards in your future if you stop on time before myFicocitits takes full effect.

 

Instead of focusing on approvals (selective reading), browse through applications and you'll see plenty of "I got denied with 800!!!! Why? I only got 10 cards this year" 

While there are a few who can get away with that, most of us cannot. They tend to have businesses, lots of spend, lengthy history (clean or aged negative). 

 

Garden, use cards, pay, wash, rinse, repeat. If you base your rebuild on being a DP for the community, you'll also become a cautionary tale. 

 


Very valid points!

 

I just have a ? about that specific disorder. Although, I thought it was Ficocitis?  The one you mentioned may be more... ummmmm...a different one...ok well, anywho 😜 Is it treatable and/or curable? 🥴

 

Asking for a friend


*Itis* would be a proper suffix to condition when referring to inflammatory process. 

Autocorrect added a twist, which is a pun in itself. Also, my office, 15 min. 

 

Treatable but not curable. Most people do not treat it because they don't believe they have it. 

Its a place where rationalization meets denial. 

Message 21 of 31
Wavester64
Valued Contributor

Re: Is the wells fargo active cash cc bankrupt friendly?


@SUPERSQUID wrote:

Experian keeps matching me with this card as the top choice with their card match.


Not sure if this helps or not, but when I apped and was approved for WF Propel, I was ~6-months away from my BK coming off my report.



Potential Future Cards
Message 22 of 31
FinStar
Moderator

Re: Is the wells fargo active cash cc bankrupt friendly?


@Remedios wrote:

@FinStar wrote:

@Remedios wrote:

 

I also understand you got myFico itch, it happens when people find this forum.

People arrive with couple of cards, a few months later they have rocks in a backpack while trying to float in the water while putting Chase/US Bank cards as goal cards, when reality is, they won't be eligible for years.  

There will be  rewards cards in your future if you stop on time before myFicocitits takes full effect.

 

Instead of focusing on approvals (selective reading), browse through applications and you'll see plenty of "I got denied with 800!!!! Why? I only got 10 cards this year" 

While there are a few who can get away with that, most of us cannot. They tend to have businesses, lots of spend, lengthy history (clean or aged negative). 

 

Garden, use cards, pay, wash, rinse, repeat. If you base your rebuild on being a DP for the community, you'll also become a cautionary tale. 

 


Very valid points!

 

I just have a ? about that specific disorder. Although, I thought it was Ficocitis?  The one you mentioned may be more... ummmmm...a different one...ok well, anywho 😜 Is it treatable and/or curable? 🥴

 

Asking for a friend


*Itis* would be a proper suffix to condition when referring to inflammatory process. 

Autocorrect added a twist, which is a pun in itself. Also, my office, 15 min. 

 

Treatable but not curable. Most people do not treat it because they don't believe they have it. 

Its a place where rationalization meets denial. 


Yay, I have 12 minutes to kill before office meeting 😜 I can't find my handy dandy medieval mesh armor suit, tho.

 

And, thanks for providing some hope as far as treatment!

 

Now gotta find another countdown somewhere 🤭 

 

<FinStar has left the thread>

Message 23 of 31
Oops_I_Did_It_Again
Regular Contributor

Re: Is the wells fargo active cash cc bankrupt friendly?


EDIT - PS - I have an inquisitive mind, i ask lots of questions. I dont always act on info, im just curious. sometimes i post failures such as the BOA prequal to aid other people.


+1

 

I think you are asking good questions and have done a great job with your rebuild. The BK creates some complexity for you, and if I had your situation, I'd find myself unsure at this point...you have gotten so far but may be at a point of diminishing returns as far as new credit apps, for the time being.  At least @Remedios seems to think that may be the case. 

 

You've picked up some bona-fide plastic, your scores are approaching 700, but there's that darn BK boat anchor that will take a couple years to go away.  Easy to respect your stated disinterest in advise, because I haven't the slightest idea of what's strategic at this point in the rebuilding process.  If I may be permitted, one piece of advise: keep up the good work!

Edit: darn it, more advise i can't resist.  It seems like getting in with the major banks may be a tough nut to crack for a while.  So as a project to be in a good position to take advantage of the opportunty, considering opening deposit accounts with WF and perhaps BofA (depending on your research to determine if BofA is completely no-go on any BK).   300 minimum avoids any fee with WF, and basic checking with BofA is 4.99/mo.  These steps will get you on those bank's radar, (and mailing lists), and the accounts may provide useful DPs such as pro-active offers of credit. This isn't a short term thing, but by being patient it is an approach that may bear fruit.

 

I would discount earlier comment that WF may use banking history against you.  I've seen those posts also, and while I don't doubt the veracity, there are likely peculiar circumstances involved. 

Credit Profile (May 21, 2022)
F8 EX 760 EQ 763, TU 755, F8 BC EX 777, EQ BC 770, F9 EX 764, F2 Mrtg 779
TCL: $93,600, reporting available: $82,800/$83,600
utilization: 1%, no loans, AZEO ($800/$5000)
pre-tax income 4.1K/m, housing $719.00/m, debt service $35/m, DTI 1 pct
AoOA 4Y 0M, AAoA 2Y 3M, AoYA 7M
new accounts 5/24, 2/12, 0/6, 0/3, INQs 12 months EX 1, EQ 0, TU 1

Personal Cards (13)
Bank of America CCR 16K, American Express BCE 1K/CM 15K, Synchrony PPMC 10K / Amazon 5K, GS Apple Card (MC) 4K
Citibank DoubleCash 10K, Discover IT 5K/BT 3K, Regions Cash Rewards Vsig 7K, Wells Fargo AC 6K, CapOne QS 3K/QS $500.00

Business Cards (1)
American Express BBC 10K

most desired
Penfed Gold, Chase Amazon Visa, Aspiration Zero, WF Reflect, Amex Green
BofA BankAmericard, Citibank Premier
Gardening since Nov 10/2021, till June 10/2022 (I'll be 4/24)
Message 24 of 31
SilverSmith
Established Contributor

Re: Is the wells fargo active cash cc bankrupt friendly?

Gone are the days of old when Wells Fargo would just randomly open a credit card account for you and remind you eventually that you actually have an account and need to put some spend on it. Ahh... the good ole' days. Smiley LOL




~Is it 2023 yet?~

Message 25 of 31
fuzm4n
New Member

Re: Is the wells fargo active cash cc bankrupt friendly?

I'm 1 year 11 months post ch 7. Got approved today for the Active Cash with a SL of $3500.

Message 26 of 31
NoMoreE46
Valued Contributor

Re: Is the wells fargo active cash cc bankrupt friendly?


@fuzm4n wrote:

I'm 1 year 11 months post ch 7. Got approved today for the Active Cash with a SL of $3500.


Congratulations @fuzm4n.

Was WF IIB?

 

If you haven't already done so please feel free to post your WF AC approval in the Approval section.

Message 27 of 31
jmcmillan
Regular Contributor

Re: Is the wells fargo active cash cc bankrupt friendly?

I applied for the Active Cash and was denied becuase of my bankruptcy. I'm 1-year post discharge.

Message 28 of 31
mark3038
Established Contributor

Re: Is the wells fargo active cash cc bankrupt friendly?


@jmcmillan wrote:

I applied for the Active Cash and was denied becuase of my bankruptcy. I'm 1-year post discharge.


I know this is an old thread that was picked up on , but;

WF is not the same bank that they where a few years ago. Between the huge fines and growth limit placed upon them they really have no where to go. They are shutting down divisions (lending on used cars) and others to move money into divisions that may make them a better profiit. They really have tightened their belt. What they may have approved a few years ago sure for sure out the window now. I had 7 WF branches in driving distance from my house a year ago, I now have one, they shut the rest down to save on money.

 

WF is my primary bank. Both with deposit, checking and savings. Yes I have CC's with them too but much better deals using cards from other banks.  I would suggest that if you have a BK or not why not go to a bank that can actually lend you money without them having to close something else down to do it.

Thanks

Mark

Please note; My postings are my opinion only. You can accept them or reject them. Thanks, Mark
Message 29 of 31
SUPERSQUID
Established Contributor

Re: Is the wells fargo active cash cc bankrupt friendly?


@Wavester64 wrote:

@SUPERSQUID wrote:

Experian keeps matching me with this card as the top choice with their card match.


Not sure if this helps or not, but when I apped and was approved for WF Propel, I was ~6-months away from my BK coming off my report.


was that a bk7 or a bk13?

{ BK7 DC 12/2019 } target 700/ kohls 1500/ discover 3k /mercury 3350 /ollo 600 /mission lane 1050/ ikea 750/ firestone 2800 /legacy 2000 /first savings bank cc 2000/ cap1 QS 2k/ cap 1 savor one 3100 /comenity rewards mc 1k, Penfed PCR signature visa 7.5k, NFCU >signature visa cash rewards 9700

>/ nfcu platinum 1k, BABY NEEDS NEW SHOES !!!!!
Message 30 of 31
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