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Applying for a New Card with baddies...

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Regular Contributor

Applying for a New Card with baddies...

So, here is the situation:

 

My Fico 9 score is in the 690s range, Fico 9 BC 700+. I am thinking of applying for the new Wells Fargo Propel card, as it could give me some pretty good value. I have a checking, savings, and credit card account with Wells Fargo, all of which are north of 5 years old. Zero late payments on the credit card. I've heard that makes a difference with WF.

 

The problem is that i ran into some trouble with paying off my student loans earlier this year, which resulted in a few of the accounts going unpaid for 90 days. That occured in April and I've made on-time payments across the board since then, and so those bad marks are close to 9 months old at this point. 

 

My question is... could those bad marks result in me being declined for the card? I reckon that they would be a bad indicator for sure, but I am wondering how bad the effect would be, and if I'm better off waiting for them to reach the 1-year mark before applying for another card.

 

For the record, I've got 3 inquiries on my account in the last year, and I'm using Fico 9 since that is apparently what WF uses nowadays. I also currently have 4 credit cards and 2 store cards, all of which were opened more than a year ago.  

 

Thanks!

3 REPLIES 3
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Established Contributor

Re: Applying for a New Card with baddies...

DO NOT APPLY TO WF with recent 90 day lates. You can thank me later 

Started 6/6/2018 EX - 588 ; EQ - 667 ; TU 575

Updated 12/2018


Message 2 of 4
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Community Leader
Super Contributor

Re: Applying for a New Card with baddies...

The recent 90 day lates will blow your chances getting approved with ANY creditor. It’s time to garden.

DEC 2019: EX 816, TU 820, EQ 810
DEC 2018: EX 777, TU 783, EQ 799

|| AmX Cash Magnet $40.5K || NFCU CashRewards $30K || Discover IT $24.7K || Macy's $20K || NFCU CLOC $15K || CitiCostco $12.7K || NFCU Platinum $12.5K || Apple Card $6.5K ||
Message 3 of 4
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Super Contributor

Re: Applying for a New Card with baddies...


@SHJ wrote:

 

My question is... could those bad marks result in me being declined for the card?


Not could.  They will.  Work on cleaning up your report before apping.

Message 4 of 4
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