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Wellsfargo amex card with cl of 7k and utilization of 42 percent.

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Regular Contributor

Wellsfargo amex card with cl of 7k and utilization of 42 percent.

x card with with cl of 7k and balance of 2970 and just made payment of 500 on it. When card reports next month it have balance of 2480 and I am voing to make 500 payments over next couple of months until I pay off the card. When should I ask Wellsfargo for cl increase on card and how tough are thay. I have Fico score about 785 and ttotal cl of 118.150k and total balance on all cards of 4k, making my total utilization 4percent. What do you guys think will I get an increase income 75k.

Message 1 of 20
19 REPLIES 19
Moderator

Re: Wellsfargo amex card with cl of 7k and utilization of 42 percent.

The earliest timeframe for customer-initiated CLI requests is ~6 months. These are usually processed via HP (unless your account is eligible for SP or auto-CLI). In a variety of cases expect a HP.
Message 2 of 20
Regular Contributor

Re: Wellsfargo amex card with cl of 7k and utilization of 42 percent.

I am not going to use the wellsFargo card to much, because cl is only 7k if I put any spend on it then it pulls my fico score down. The creditcard company's want you use card and when you do it hurts your score, no way to win. What I don't understand is why thay need to do a hard pull. I am going to waite to next year to get another card.

Message 3 of 20
Community Leader
Super Contributor

Re: Wellsfargo amex card with cl of 7k and utilization of 42 percent.

My understanding is the card has to be at least a year old to consider cli and is hp. WF is not an easy markSmiley Wink
Message 4 of 20
Regular Contributor

Re: Wellsfargo amex card with cl of 7k and utilization of 42 percent.

Hi just want to say some banks do it right. I had called Wallmart mastercard on Sunday for cl increase from 10k to 12K increase and was turned down. Today I call them back and ask to speak to credit department and after speaking to guy on phone for about 5 mins on phone he said yes I will increase your line to cl of 12 grand, he also told me that it was soft pull from transunion. what I don't understand is why Wellsfargo must do a hard pull. Second thing is I think Wallmart is making big mistake go ing to Cap one. If you get turn down at cap one for cl increase ther is no one to talk. Least with bank that is handleing wallmart now you can talk to some one work thing out.

Message 5 of 20
Community Leader
Senior Contributor

Re: Wellsfargo amex card with cl of 7k and utilization of 42 percent.

Some banks are willing to grant CLIs based on the soft pulls used for internal account reviews. Others view CLIs as seeking new credit, thus the hard pulls.

Message 6 of 20
Regular Contributor

WellsFargo Amex card line increase.

 

Hi I have a Wellsfargo card with a cl of 7K and Fico of around 79. I had the card since December 2018 and made 3 payments on card and 2 last have been for 500 each and another payment of 50. The question is if I call up for cl increase will thay do soft pull or a hard pull and will thay increase line. My balance is 1987 on card at this time.

Message 7 of 20
Regular Contributor

Re: WellsFargo Amex card line increase.

Correction Fico score around 790, Total out standing balance on all cards is 3K and total cl of 118150 on all lines.

Message 8 of 20
Frequent Contributor

Re: WellsFargo Amex card line increase.

I have the card too and tried after 3 months. Was told 6 months. Its a HP so dont waste it.

Message 9 of 20
Regular Contributor

Re: WellsFargo Amex card line increase.

Hi , I called WellsFargo and was told that after 6 months I could apply for an line increase and thay would tell me before a hard pull would be done so i could stop it before a hd was done on account. 7k is not enough just putting 3k on card pulled my score down by 12 points it is comming back up again after paying grand on card after two months. I am going to bring the balance down zerro before I ask for an increase.

Message 10 of 20
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