Wells Fargo Propel Approval Odds

[Anonymous]

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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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At your age with a thin file and low income, I wouldn't take any card above $95 or $99 annual fee, the Amex gold is $250 annual fee and they will hit you with that about 2 weeks after you get the card, stick with some no annual fee cards or atleast the two amounts I spoke about above, at 19 you don't want to get yourself in too far too soon, there is a lot of good cards with no annual fees that will help you build yourself up, also there is a lot of great folks on these forums that can and will guide you in the right direction if your willing to follow their advice, good luck on your credit build! 

[CreditInspired]

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@Anonymous wrote:

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.

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Hi and welcome

I suggest going to AmX prequal site and see if you have any pre-approvals. They have a pretty good selection of CCs that would meet your needs. 

[JSS3]

Get the Blue Cash Everyday or Cash Magnet.

Definitely steer clear of cards with annual fees as these are your first ones. You don't want to build history and then have to close because an annual fee won't get waived later on.

[Anonymous]

Yes, good point thank you! I think I will go with the Cash Magnet card. 

[5KRunner]

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@JSS3 wrote:

Get the Blue Cash Everyday or Cash Magnet.

Definitely steer clear of cards with annual fees as these are your first ones. You don't want to build history and then have to close because an annual fee won't get waived later on.

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+1

BCE is a great card for lower grocery spend, especially if you're unable to qualify for the Propel.

[5KRunner]

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@Anonymous wrote:

Yes, good point thank you! I think I will go with the Cash Magnet card. 

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Excellent choice! You can also product-change to BCE if your spending patterns change in the future.

[Anonymous]

Thanks! What exactly is a product-change? 

[5KRunner]

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@Anonymous wrote:

Thanks! What exactly is a product-change? 

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Some card issuers allow you to change the card you're holding into one of their other cards.

Last year, I was approved for the Cash Magnet, which pays 1.5% cash back, then shortly thereafter was approved for the Citi Double Cash, which pays 2%. I called AmEx and asked them to change the CM to a BCE, and they did.

Rules for product changes vary from issuer to issuer. For example, you can't change a mainline AmEx card (Cash Magnet, BCE, BCP, etc.) into a co-branded card (Delta or Hilton). And I don't think you can PC from a no-AF (BCE) to AF (BCP) card.

[Anonymous]

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@CreditCuriosity wrote:

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.

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I wasn't aware Propel was difficult to get. I knew you needed good credit. I was going to maybe suggest that card, but I guess its best left for more established credit profiles, and maybe giving it the old college try might not be best lol.