WF product change finally allowed

[DebbsSeattle]

In "Project Clean Slate " since October. Only bad is high utilization. Scores have come up from 650-670 to 747/739/737 with more to report as paid down in the next 7 days being my BUSY reporting week. Total Utilization has dropped from my scary 103% in 2023 to ~25% today. I stopped in to WF branch in December, asked for a product change from Platinum that I have had since forever (~2009) to Active Cash 2%CB card. "No, not without hard pull". Well, nope...not doing a hard pull for a product change. I guess I just focus my regular monthly spend on other cards.

Last night I was poking around my WF Acc't page, saw a new button "Switch my Card". This appeared sometime in the last 14 days. They were extending me the offer for Active Cash or the travel points card. No change in credit limit, but an upgrade that I wanted. 

The data point: I just dropped to below the 28.9% utilization on that card for my $13,500 limit since the Jan 31 reporting date on that Acc't. The timing is suspect in relation to the utilization tier I just payed down to.

Next lookout for this and my WF Reflect (was a 0% BT card that now is PIF but offers zero benefits) is a CLI for both and a product change on the Reflect. I will be watching closely. Does anyone have any data points on WF limit cutoffs in relation to income? I'm currently at $103,300 income.

Ta!

[NoMoreE46]

Congrats on being allowed to PC there @DebbsSeattle !   The feature from WF has been around a few years.   

You should be able to get a TCL of at least 30% of your income at some point from WF.

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@DebbsSeattle wrote:

In "Project Clean Slate " since October. Only bad is high utilization. Scores have come up from 650-670 to 747/739/737 with more to report as paid down in the next 7 days being my BUSY reporting week. Total Utilization has dropped from my scary 103% in 2023 to ~25% today. I stopped in to WF branch in December, asked for a product change from Platinum that I have had since forever (~2009) to Active Cash 2%CB card. "No, not without hard pull". Well, nope...not doing a hard pull for a product change. I guess I just focus my regular monthly spend on other cards.

Last night I was poking around my WF Acc't page, saw a new button "Switch my Card". This appeared sometime in the last 14 days. They were extending me the offer for Active Cash or the travel points card. No change in credit limit, but an upgrade that I wanted. 

The data point: I just dropped to below the 28.9% utilization on that card for my $13,500 limit since the Jan 31 reporting date on that Acc't. The timing is suspect in relation to the utilization tier I just payed down to.

Next lookout for this and my WF Reflect (was a 0% BT card that now is PIF but offers zero benefits) is a CLI for both and a product change on the Reflect. I will be watching closely. Does anyone have any data points on WF limit cutoffs in relation to income? I'm currently at $103,300 income.

Ta!

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[DebbsSeattle]

30%...that will be a nice goal to reach for...thanks for sharing. Yes...they offer product changes, but not to everyone...which was me in December when I visited a branch in person and sat at her desk, explained what I wanted to achieve and got told no. She told me the buttons would appear when I qualified...keep checking back. There was NO Switch my card button formerly on my Acc't page, just like there is no request a credit limit increase as of yet. When the button appears, something has changed to allow it to appear. Thanks again.

[NoMoreE46]

Certainly.

There isnt an option to request CLI from WF.  You have to call in.

[cashorcharge]

That’s Terrific!! Congratulations on your successful Product Changel!!👏🏼🍾🥂

[DebbsSeattle]

According to my visit with the bank rep there is an online love button when you are qualified to be able to ask for it. I will definitely be checking every couple weeks as my scores continue the climb upwards...so I will check back with any and all data points for future readers. Cheers.

[NoMoreE46]

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@DebbsSeattle wrote:

According to my visit with the bank rep there is an online love button when you are qualified to be able to ask for it. I will definitely be checking every couple weeks as my scores continue the climb upwards...so I will check back with any and all data points for future readers. Cheers.

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We all would love a CLI button - trust me.  
It isnt an enabled feature.  Wishing to be proved wrong!

[UncleB]

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@NoMoreE46 wrote:

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@DebbsSeattle wrote:

According to my visit with the bank rep there is an online love button when you are qualified to be able to ask for it. I will definitely be checking every couple weeks as my scores continue the climb upwards...so I will check back with any and all data points for future readers. Cheers.

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We all would love a CLI button - trust me.  
It isnt an enabled feature.  Wishing to be proved wrong!

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+1

Apologies, @DebbsSeattle, but this is an example of an in-branch bank rep "winging it" when it comes to how their own products work.

What he/she described is how things work with many (most?) credit cards, but sadly not WF cards (which is ironic since that's where you were).  Actually, as far as I know WF has never allowed for CLI requests online, certainly not in the decade I've had cards with them.

Here's a tidbit about banking with Wells Fargo... while the branch computer terminal has access to loans, cards, etc. what they can actually do with those products is extremely limited.  I was frustrated a few years ago when I went in to a branch to get the exact payoff for a loan, and the rep had to call a number and speak with someone in the loan dept for the info - just like I could have done from home (and his hold time was just as lengthy as mine would have been).  

While listening to the lovely music on hold, my rep explained that while he could pull up the loan on his computer terminal the info he had was minimial, and it was the same for credit cards and other bank products outside of deposit accounts.

That said, much like @NoMoreE46 I'm forever hopeful that someday WF will join their peers and allow CLI requests online.