Wells Fargo Propel Approval Odds

[Anonymous]

I'm just wondering if the Wells Fargo propel card is worth applying for. I'm currently 19 years old a college student, so my income is not great. It's about 30k a year. I have only one credit card (about 8 months old). A discover it cashback that initially had a $750 limit, but is now at $1350. It is at 10% utilization. Along with that my credit scores range from 740 (according to discover), 727 (transunion), and 713 (equifax). No prior Wells Fargo relationship.

Is this card worth applying for? What are some other cards that I should look into that would be better. I'm primarly looking for a card for dining out/groceries.

[TekkenQQ7]

First of all welcome aboard. Second is there a reason that you want to apply for Wells Fargo?. Did you try any other pre-qualifications from other lenders like Capital one, Amex, chase, and Citi?  

[Anonymous]

Thanks! The points just seem to align with my spending on this Wells Fargo card. I have not tried pre-qualifications from other cards. How do I do this? 

[TekkenQQ7]

Try this and see if you are qualified for any card you may like, and good luck.

https://ficoforums.myfico.com/t5/Credit-Card-Applications/Credit-Card-Pre-Qualification-Links/td-p/4...

PS: pre-qualification doesn't cost you any hard pull to your credit report so it's up to you to submit the application if you're prequalified or not. 

[CreditCuriosity]

WF Propel with that thin of history will most likely not happen you best bet is to stick with Discover and possible go for an Amex card as well then hold off for about a year let your credit age then more options will be open for you in my opinion.

[Anonymous]

Yes, that is what I was thinking. What Amex card do you recommend? I don't mind annual fees. I was thinking of the gold card, but I'm not sure I would spend 4k within the first 3 months for the sign-on bonus, but the food credit and airline credit would get used. 

Thanks!

[KLEXH25]

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@Anonymous wrote:

Yes, that is what I was thinking. What Amex card do you recommend? I don't mind annual fees. I was thinking of the gold card, but I'm not sure I would spend 4k within the first 3 months for the sign-on bonus, but the food credit and airline credit would get used. 

Thanks!

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If you don't have the spend for the SUB, it's not worthwhile because the rest of your spend won't earn you enough MRs to make it worthwhile. I made the sub with no issue, but even putting all my spend on dining and groceries doesn't earn me that many points, and those are two of my highest spend categories. Only the sub makes it worthwhile. Save your money on that AF and look elsewhere. 

[CreditCuriosity]

If you were to go for an AMEX and I think you would have a good shot at it with your profile and they also have a pre-qual tool, but they like getting younger generations on them like discover does as well you need to decide do you want MR (membership rewards) best used for airlines and usually business/first class travel or cash back.  Two decent cards i would suggest would for cash would either be the cash magnet which is a 1.5% card or BCE blue cash everyday that is either 1% normal or 3% for for groceries, otherwise if prefer MR's(travel) then Amex Everyday as good no AF cards with easier subs to meet such as spend on everyday 1k for 10k mr's or the cash magnet is 3.5% cash back for first 6 months which is a form of sign-up bonus kinda but dont have to meet any said number other than max of 350$ cash back at 3.5% then goes to 1.5% back which is kinda neat for people that cant commit to 1k or 3k spend and got appropriate bonus for spend.  Just a few things to think about.

You probably could get the WF student card, but that isnt the propel card.  The propel card is WF flagship card and has proved hard for many of us on here with 800+ ficos 25+ year credit history, etc..  Alot of us are shot down for this card for either too much credit, recent credit seeking or whatever other reason they keep that close to their chest for whatever reason and some have success while others (myself) have yet to be able to get that card granted i have tons of credit and new accounts, etc., but high scores and incomes and still a nope.  So this is why i push newer people away from this card.

[Anonymous]

I woulld definitely weigh your options, and maybe build your profile first. The Propel is considered a higher teir card.

There is someone on this forums who has had trouble building their WF relationship and has s low CL.

You might wind up in the same situation if not careful.

[MidnightKnight]

I got the Propel almost a year ago when I was 19.  But my credit profile was much more developed then yours.  At the time I already had 8 credit cards ( three of which were almost two years old) and most of them were in the $5000-10000 range limit wise and I had an installment loan reporting.  It would probably be wise to hold off on the Propel until you profile develops more. If you have a banking relationship it may help but I don't think it would have too much effect overall though.