@AlanGJP wrote:
@coldfusion wrote:
I've never tried for a CLI or another card with them, and while the card has not been banished to the sock drawer it doesn't get heavy use either.FWIW: CLIs with WF are a painless process, quick and painless SP (make sure to verify - of course) phone call. They're pretty loose with their CLIs after a probation period with new cards.
While many members like yourself have reported exclusive soft pulls with Wells Fargo, @AlanGJP, that is not always the case. Many other members including myself have never had a soft pull "offer" on our cards. Instead, the customer service reps say they have no offers and then forward the call to underwriting where I'm read the hard pull warning. I have always declined to accept it but believe others did and reported they did indeed get a HP. YMMV. I've attempted this numerous times with the same result.
The good thing is they always read you the standard hard pull warning message prior to a pull so you have the option to back out.
@Aim_High wrote:
@AlanGJP wrote:
@coldfusion wrote:
I've never tried for a CLI or another card with them, and while the card has not been banished to the sock drawer it doesn't get heavy use either.FWIW: CLIs with WF are a painless process, quick and painless SP (make sure to verify - of course) phone call. They're pretty loose with their CLIs after a probation period with new cards.
While many members like yourself have reported exclusive soft pulls with Wells Fargo, @AlanGJP, that is not always the case. Many other members including myself have never had a soft pull "offer" on our cards. Instead, the customer service reps say they have no offers and then forward the call to underwriting where I'm read the hard pull warning. I have always declined to accept it but believe others did and reported they did indeed get a HP. YMMV. I've attempted this numerous times with the same result.
The good thing is they always read you the standard hard pull warning message prior to a pull so you have the option to back out.
Weird, but there was no "offer" afaik. I called them unprompted at just over the six month mark and requested a CLI and specifically said "I do not want to do it if it means I'll be hit with a hard pull". She asked "What amount would you like to increase your limit to?", I said "Lets try for $25K" and she came back with approved. (May have asked for $30K, I don't recall for sure now) Anyway, point being - I said I'd only wanted to try if it wasn't a HP (Confirmed it was a SP), I was granted a CLI painlessly - maybe a 10 minute call, all said and done. For a call-in CLI, it was the least painfull I've ever done.
Not trying to be difficult. Just surprised to hear they did that to you. :/
@AlanGJP wrote:
@Aim_High wrote:
@AlanGJP wrote:FWIW: CLIs with WF are a painless process, quick and painless SP (make sure to verify - of course) phone call. They're pretty loose with their CLIs after a probation period with new cards.
While many members like yourself have reported exclusive soft pulls with Wells Fargo, @AlanGJP, that is not always the case. Many other members including myself have never had a soft pull "offer" on our cards. Instead, the customer service reps say they have no offers and then forward the call to underwriting where I'm read the hard pull warning. I have always declined to accept it but believe others did and reported they did indeed get a HP. YMMV. I've attempted this numerous times with the same result.
The good thing is they always read you the standard hard pull warning message prior to a pull so you have the option to back out.
Weird, but there was no "offer" afaik. I called them unprompted at just over the six month mark and requested a CLI and specifically said "I do not want to do it if it means I'll be hit with a hard pull". She asked "What amount would you like to increase your limit to?", I said "Lets try for $25K" and she came back with approved. (May have asked for $30K, I don't recall for sure now) Anyway, point being - I said I'd only wanted to try if it wasn't a HP (Confirmed it was a SP), I was granted a CLI painlessly - maybe a 10 minute call, all said and done. For a call-in CLI, it was the least painfull I've ever done.
Not trying to be difficult. Just surprised to hear they did that to you. :/
Understand, @AlanGJP. Your experience is typical with what many of our members have reported but I'm not alone in being asked to accept a hard pull for CLI consideration. I just wanted to highlight that fact since Wells Fargo isn't consistent in either always doing hard or soft pulls. (There are many lenders who do soft pulls for smaller CLIs but will allow a larger CLI with a hard pull review, for example. But many are more standardized.) By an "Offer" on the account, I meant something preapproved that the front-line customer service representative could access without referral to underwriting. From my experience, you'll never get hard pulled with the first Wells Fargo rep; that only happens after referred to a second representative in underwriting and being read the hard pull disclosure warning.
We don't have enough data points to show what causes a request to go one way or the other. Perhaps it's related to overall banking relationship, spending patterns on the card, overall credit spend-and-pay patterns, credit-seeking activity, or total amount of credit available. It's seems unlikely to be FICO-driven. I have high FICO scores and they've never offered me a soft-pull opportunity, so I've just passed. Spending patterns may be related since I've never put a lot of spend on my Wells Fargo card. They've also denied me when I've been gardening, so credit-seeking apparently did not matter in my case. I have a banking relationship only through the activity on my daughter's accounts so they don't have access to my income and banking activity.
@Aim_High wrote:
Understand, @AlanGJP. Your experience is typical with what many of our members have reported but I'm not alone in being asked to accept a hard pull for CLI consideration. I just wanted to highlight that fact since Wells Fargo isn't consistent in either always doing hard or soft pulls. (There are many lenders who do soft pulls for smaller CLIs but will allow a larger CLI with a hard pull review, for example. But many are more standardized.) By an "Offer" on the account, I meant something preapproved that the front-line customer service representative could access without referral to underwriting. From my experience, you'll never get hard pulled with the first Wells Fargo rep; that only happens after referred to a second representative in underwriting and being read the hard pull disclosure warning.
We don't have enough data points to show what causes a request to go one way or the other. Perhaps it's related to overall banking relationship, spending patterns on the card, overall credit spend-and-pay patterns, credit-seeking activity, or total amount of credit available. It's seems unlikely to be FICO-driven. I have high FICO scores and they've never offered me a soft-pull opportunity, so I've just passed. Spending patterns may be related since I've never put a lot of spend on my Wells Fargo card. They've also denied me when I've been gardening, so credit-seeking apparently did not matter in my case. I have a banking relationship only through the activity on my daughter's accounts so they don't have access to my income and banking activity.
Understood. Just strange as my experience was so different from yours. As a point of reference; My scores when requesting my first CLI were close to my sig. I put almost no use on my card (maybe 2-4 small charges/mo), I have a LOT of new cards (thus lots of HPs) in the last 24 months. And I do have a banking relationship with a fairly large balance (6 figure). Beyond that, I can't offer much in the way of data points. Maybe it's the banking relationship, maybe it's the age of the account, I don't know. Never-the-less, maybe it helps someone in the future.
I hope you didn't take my responses to mean I doubted you. I was merely surprised by the different approach.
@AlanGJP wrote:And I do have a banking relationship with a fairly large balance (6 figure).
I have to wonder how much banking relationship helps. I believe I've seen cases where soft pull increases were given regardless of any banking, but then again maybe the card was used more heavily. It would be interesting to gather some data points and see if we can determine a pattern.
As to the SP/HP CLI question, I'll add my DP.
I opened an Active Cash in October 2021. When I'd call and ask for a SP CLI, they'd tell me they couldn't guarantee if it would be SP or HP and asked if I wanted to procede. I had my CRAs frozen and told them to go ahead. They'd tell me I'd get a letter in so many days. Letter would arrive and say they didn't grant an increase because they could not access my credit reports. When I'd had the card about 9 months, I went through this process and was told the same thing about not being able to promise a SP or HP, and when I told him to go ahead, he said they would increase my $9000 limit to $11300. Reports were still frozen. I just kept trying until they did it with a SP. (Then I PC to Autograph.)
I have banked with WF for 20 years. But I usually have about forty bucks in my account, so I'm not sure that helps. In fact it was used as one of the reasons for denying my last CLI request, low balances in my checking and savings accounts. (I had racked up over $4.4k balance during the 0% APR period. So in their defense, they see all this debt and no money in my account to pay it back. I can understand them being reluctant to increase my credit line at that time, lol. FYI, my 0% deal will be over in early February. My balance is down to $2.8k and dropping fast. No worries.)
EQ8 784, TU8 755, EX8 761 as of September 21