Wells Fargo Cards questions

CreditScoreImprovement24 · ‎04-01-2025

1. Is 12 months without opening a card generally sufficient to obtain say the active cash card or any wells fargo card? 6 months? (***provided everything else is solid of course)

2. Does WF have a 5/24 rule like Chase?

3. I read that after 12 months without opening a new card, it puts you on the "no new revolver scorecard" on credit report.....This should greatly increase chance of approval for cards right?

4. I had a checking account with WF but had opened a couple cards in the past 5 months...so was denied by WF. They seem to be new account sensitive..is this true?

citymunky · ‎04-01-2025

I have read the Wells Fargo dislikes new accounts, I would err on the side of caution and wait the 12 months (I'm sure if this true for the BILT card however).

I have a mortgage with WF, as well as checking/saving accts, but the reason above is one of the reason I does apply for any of their cards.

Rebuilding since 2021

Closed CCs
USAA (Jul 2019| Settled CO), Jasper $1K CL (Jul21-Jul22), Sable $250CL{Secured} (Jan22-Jun23), CreditOne Platinum $750CL (Jul21-Aug23), Prosper $1.9K CL (Jan22-Apr24), Self $625 CL {$350 Secured } (Aug21-Jul24)

Starting FICO 8 Scores:

Current FICO 8 Scores:

ptatohed · ‎04-01-2025

I think people over-think things too much. If you want the card, go for it! Good luck. Enjoy!

[Until I can make a pretty signature, here’s an updated draft]

Everyday 5% CB:
Chase prime Visa // citi CUSTOM CASH “A” // citi CUSTOM CASH “B” // citi SHOP YOUR WAY (5% gas (in points), lucrative spending offers) // mylowe’s Rewards // Target circle card // primis Perks debit Visa (50c CB per transaction (5% CB or more up to $10 spend))

5% CB rotating:
Chase “OG” freedom Visa // DISCOVER it Cash Back // nusenda CU Platinum Cash Rewards

Everyday 4% CB:
US Bank Smartly (v1.0)

Everyday 3% / 2.2% CB:
AOD FCU Visa Signature (3%, sockdrawered) // upgrade Cash Rewards Elite (2.2%, sockdrawered)

Welcome Offer / credits only:
Chase SAPPHIRE PREFFERED (grabbed my $1,000, sockdrawered, will cancel) // NFCU FLAGSHIP REWARDS (elevated Welcome Offer, annual prime credit, sockdrawered)

Hotel card:
Chase IHG ONE REWARDS PREMIER (elevated Welcome Offer, 1 free night/yr)

On my radar:
Langely FCU Signature Cash Back (5% CB monthly selectable cat) // Safe CU Cash Back+ (Quarterly rotating 5% CB cats plus bonus cats) // upgrade MyFive Cash Rewards (5% CB monthly selectable cat) // US Bank Kroger (and family) World Elite Master Card(s) (5% CB Mobile Wallet)

quickstep_knoll · ‎04-02-2025

In my experience, it's all about overall profile, and I'm not aware of a firm rule from WF. If you have recent high velocity, they would get squirrely. Moreso if you are carrying balances. Less so with a high reported income, for example.

My experience with WF cards was 2 back-to-back, with plenty of inquiries and new accounts within 1 year. This was a few months ago, so in an arguably different macroeconomic environment as well. I think underwriting is generally tighter now compared to even then. But there is no firm 12 month rule. Six should be a good start, but as part of an overall profile: low debt, no derogs, and low velocity.