Wells Fargo Visa Sig Card pre-qualified offer

[Anonymous]

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@One7 wrote:

Just out of curiosity,  why would you even want the card? The BT sounds good but you can have that with many other cards, I ask that question because they only give you 6 months for their 5% deal and then after that the card is useless.  Just my opinion though. From what I hear they are terrible to deal with as well. Good luck with whatever you choose though, and if you do get it ask for one with the chip.

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As cribduchess says, the point is that in those 6 months you can get a lot of rewards.  If you are willing to push the envelope a little (OK a lot!) people are reporting $10-20K cashback in 6 months.

[Secretary14]

Also be aware, the offer may say Visa Signature but you could also end up with the Visa Platinum.  We received the offer and applied (have a banking relationship with them) and were approved.  When it came, though, it was Visa Platinum.  Called the credit dept and was told you must have a min 720 fico (at time of app) and at least $45k in income.  We fell well within these limits but still received the Platinum.  Not one single CSR or supervisor could explain it to us.  Util was not an issue as it was below 20%.  Never would have apped had we known.  They also won't tell you which you will get if you do an on-the-phone app.  I asked.  Go figure.

[newUser0]

10K For 6 Months requires, 200K Spend in 6Months so,

Its around 33.333K Per Month.

I think it may be hard to liquadate this much cash

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@Anonymous wrote:

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@One7 wrote:

Just out of curiosity,  why would you even want the card? The BT sounds good but you can have that with many other cards, I ask that question because they only give you 6 months for their 5% deal and then after that the card is useless.  Just my opinion though. From what I hear they are terrible to deal with as well. Good luck with whatever you choose though, and if you do get it ask for one with the chip.

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As cribduchess says, the point is that in those 6 months you can get a lot of rewards.  If you are willing to push the envelope a little (OK a lot!) people are reporting $10-20K cashback in 6 months.

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[Anonymous]

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@newUser0 wrote:

10K For 6 Months requires, 200K Spend in 6Months so,

Its around 33.333K Per Month.

I think it may be hard to liquadate this much cash

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@Anonymous wrote:

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@One7 wrote:

Just out of curiosity,  why would you even want the card? The BT sounds good but you can have that with many other cards, I ask that question because they only give you 6 months for their 5% deal and then after that the card is useless.  Just my opinion though. From what I hear they are terrible to deal with as well. Good luck with whatever you choose though, and if you do get it ask for one with the chip.

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As cribduchess says, the point is that in those 6 months you can get a lot of rewards.  If you are willing to push the envelope a little (OK a lot!) people are reporting $10-20K cashback in 6 months.

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+1. I was a little taken aback by those numbers. I can't see WF letting anyone get that much cash back without a huge hassel. Good for them if it's been done!

[newUser0]

He is right, I have seen many ppl maximizing this WF Card and they churn this again, by closing and applying again.

For me personally, 33K/Month on SINGLE card is bit too much.

[Anonymous]

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@newUser0 wrote:

He is right, I have seen many ppl maximizing this WF Card and they churn this again, by closing and applying again.

For me personally, 33K/Month on SINGLE card is bit too much.

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Yes, most people spread it around, I haven't yet (my Blue Cash statement just closed with $29K in MS, which is more than I had intended).  But on the time-limited cards, some people go very hard, because of the short time frame.

WF hasn't been successfully churned AFAIK, apart from getting one for the spouse after the first expires.

[newUser0]

Amex purposfully gave me a low CL of $1K. 

I did ordered for 2GC for $1009, even though it was over the limit, transaction was approved. Then to be on safe side, I did $200 Payment, after which my ORDER was declined and my statement cut at -$186

Just gave up MS on this card. Will need to wait till 6.5 meet and 5% kicks in to do physical instore MS.

[One7]

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@Anonymous wrote:

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@One7 wrote:

Just out of curiosity,  why would you even want the card? The BT sounds good but you can have that with many other cards, I ask that question because they only give you 6 months for their 5% deal and then after that the card is useless.  Just my opinion though. From what I hear they are terrible to deal with as well. Good luck with whatever you choose though, and if you do get it ask for one with the chip.

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As cribduchess says, the point is that in those 6 months you can get a lot of rewards.  If you are willing to push the envelope a little (OK a lot!) people are reporting $10-20K cashback in 6 months.

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Well that's a crazy amount of money to put through a card to get that much cash back. But it is possible I presume.  But after 6 months then what? You're stuck with a plain jane cc where as with freedom or discover or other 5% cards you get it year round in rotating categories.  Don't get me wrong though I would have the card, but since I don't have an account there I have to go in to apply,  which I don't think I'll do anytime soon. Good luck with the application OP

[Anonymous]

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@One7 wrote:

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@Anonymous wrote:

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@One7 wrote:

Just out of curiosity,  why would you even want the card? The BT sounds good but you can have that with many other cards, I ask that question because they only give you 6 months for their 5% deal and then after that the card is useless.  Just my opinion though. From what I hear they are terrible to deal with as well. Good luck with whatever you choose though, and if you do get it ask for one with the chip.

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As cribduchess says, the point is that in those 6 months you can get a lot of rewards.  If you are willing to push the envelope a little (OK a lot!) people are reporting $10-20K cashback in 6 months.

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Well that's a crazy amount of money to put through a card to get that much cash back. But it is possible I presume.  But after 6 months then what? You're stuck with a plain jane cc where as with freedom or discover or other 5% cards you get it year round in rotating categories.  Don't get me wrong though I would have the card, but since I don't have an account there I have to go in to apply,  which I don't think I'll do anytime soon. Good luck with the application OP

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It's a different kind of game.    Yes, you "use" that card for 6 months, get the rewards, and move on to the next (currently TD Bank, Amex Blue Cash or whatever appears) and never use the card again.   Discover and Freedom are in a completely different class, with rewards maxing out (on 5% categories) at $300 a year!

Depending on your goals and where you are in your credit life, getting a card for a short time is quite common, either for offers like this, or to get signing bonuses.  Don't do this with a thin file though!

[Anonymous]

Well, I called the automated line yesterday and recieved a confusing message. It said "Your application has be declined for the following reason. Two most recent paystubs." I applied two days ago so it's not like they asked for the paystubs and I failed to provide them.

I used household income for me and my spouse as the application stated I could.  About 71k combined. About $1,200 a month is direct deposited into my wf checking account per month but it'spart of my wife's check. If I used household income and they want paystubs, i'm sure they will want two most recent paystubs from both my wife and myself?