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WF CC, Harley Loans, and the challenge I have.

Blueman46
Member

WF CC, Harley Loans, and the challenge I have.

This is gonna be a long story, and I’ll do my best to keep it short. But, I need some advice.

Current scores (Both Wife and me): Tr: around 710 Eq: around 700 Ex: around 680.

Wife has a WF CC with a 0% interest promotional rate that is due to expire next month. In addition, we are going to purchase two Harleys at around $30K total either in January or February (more than likely.).

Once the 0% interest promotion expires, she wants to get a rewards card through WF. She went into the branch and asked if she could transfer the card from the 0% interest to the rewards card, and the banker told her that she would need to apply for a new card. But, we really don’t want to apply for a new card at this time because we will be applying for the bike loans and we don’t want it to look like we are trying to get more credit than what we need.

So, questions I have. Should she go ahead and apply for the WF card, hope that she gets approved, and move forward? Should we wait until after getting the bikes to apply for the card? How will applying for the card before and after the Harleys affect our scores?

Thanks in advance!!!
17 REPLIES 17
Harvey26
Valued Contributor

Re: WF CC, Harley Loans, and the challenge I have.


@Blueman46 wrote:
This is gonna be a long story, and I’ll do my best to keep it short. But, I need some advice.

Current scores (Both Wife and me): Tr: around 710 Eq: around 700 Ex: around 680.

Wife has a WF CC with a 0% interest promotional rate that is due to expire next month. In addition, we are going to purchase two Harleys at around $30K total either in January or February (more than likely.).

Once the 0% interest promotion expires, she wants to get a rewards card through WF. She went into the branch and asked if she could transfer the card from the 0% interest to the rewards card, and the banker told her that she would need to apply for a new card. But, we really don’t want to apply for a new card at this time because we will be applying for the bike loans and we don’t want it to look like we are trying to get more credit than what we need.

So, questions I have. Should she go ahead and apply for the WF card, hope that she gets approved, and move forward? Should we wait until after getting the bikes to apply for the card? How will applying for the card before and after the Harleys affect our scores?

Thanks in advance!!!

Pretty sure she can call up the credit card dept and ask for product change which would be no HP

Message 2 of 18
Blueman46
Member

Re: WF CC, Harley Loans, and the challenge I have.

Ok. Thank you for your input!!!
Message 3 of 18
M_Smart007
Epic Contributor

Re: WF CC, Harley Loans, and the challenge I have.

WF is not known for a regular product change. they usually close one card and HP you for a new card.

you also take the AAoA & AoYA hit to your scores.

 

use extreme caution on a WF so called product change.

Message 4 of 18
Harvey26
Valued Contributor

Re: WF CC, Harley Loans, and the challenge I have.


@M_Smart007 wrote:

WF is not known for a regular product change. they usually close one card and HP you for a new card.

you also take the AAoA & AoYA hit to your scores.

 

use extreme caution on a WF so called product change.


I personally PC'd a Platnium Card to Cash Wise. Kept the same credit limit, same account open date and no hard pull. They only give you certain products that you can change too. Not sure where you got that infotmation from but this is my personal experience. OP I would just double check with rep when doing the product change and ask if everything will remain the same. Just to give you a peace of mind. 

Message 5 of 18
M_Smart007
Epic Contributor

Re: WF CC, Harley Loans, and the challenge I have.


@Harvey26 wrote:

@M_Smart007 wrote:

WF is not known for a regular product change. they usually close one card and HP you for a new card.

you also take the AAoA & AoYA hit to your scores.

 

use extreme caution on a WF so called product change.


I personally PC'd a Platnium Card to Cash Wise. Kept the same credit limit, same account open date and no hard pull. They only give you certain products that you can change too. Not sure where you got that infotmation from but this is my personal experience. OP I would just double check with rep when doing the product change and ask if everything will remain the same. Just to give you a peace of mind. 


I am glad you were so fortunate, I was not. personal experience.Smiley Mad

they were also very rude about the process once I found out what happened.

 

Message 6 of 18
Harvey26
Valued Contributor

Re: WF CC, Harley Loans, and the challenge I have.


@M_Smart007 wrote:

@Harvey26 wrote:

@M_Smart007 wrote:

WF is not known for a regular product change. they usually close one card and HP you for a new card.

you also take the AAoA & AoYA hit to your scores.

 

use extreme caution on a WF so called product change.


I personally PC'd a Platnium Card to Cash Wise. Kept the same credit limit, same account open date and no hard pull. They only give you certain products that you can change too. Not sure where you got that infotmation from but this is my personal experience. OP I would just double check with rep when doing the product change and ask if everything will remain the same. Just to give you a peace of mind. 


I am glad you were so fortunate, I was not. personal experience.Smiley Mad

they were also very rude about the process once I found out what happened.

 


Yeah they are not the most upstanding bank in the world. Sorry that happened to you.

Message 7 of 18
FortifiedHM
Valued Contributor

Re: WF CC, Harley Loans, and the challenge I have.

When was this?

 

I wonder if wells improved their practice in the last few years.

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Message 8 of 18
M_Smart007
Epic Contributor

Re: WF CC, Harley Loans, and the challenge I have.


@FortifiedHM wrote:

When was this?

 

I wonder if wells improved their practice in the last few years.


about 2 years ago.

I did learn a valuable lesson, and ask many questions before any PC I do now.

 

Somehow I guess it came back to Me in another way, as an "outlier",

I was able to close a Citi Simplicity and get the CL moved to one of my two Citi DC cards.

 

Happy Holidays to ALL!!!.

 

Message 9 of 18
Blueman46
Member

Re: WF CC, Harley Loans, and the challenge I have.

We’ve had WF for over 20 years. That’s why we have banked with them and never change.

If they are gonna do a HP and move my scores down, I may wait a couple of months before changing products or applying for another credit card so we can get the best rate on the Harleys.
Message 10 of 18
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