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Secured WF upgraded to unsecured

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Established Contributor

Re: Secured WF upgraded to unsecured


@Rebuild2019 wrote:
Hello,

I was thinking about applying with WF. I am just starting out with a 520 CS. I have banked with WF since 2005. 7-yrs is a long time to wait. I have 4 derogatories that should fall off in 3 months. Maybe I should wait. Got approved for Discover Secured and Open Sky. Congratulations to you.

I honestly don't regret getting my secured card with WF. I started off kinda where you are now when I got my very first credit card, which was the secured one. My dad was the one telling me to go with Wells Fargo (long before I found this forum) so I trusted his advice. I initially put $300 as the limit and eventually bumped it up to $1,200. It was as easy as calling them and they just moved the money from my checking to my secured card limit.

 

They didn't unsecure my card until late last year and I opened the card in March 2017. I still had some baddies on my reports when it became unsecured, but I think it was just the medical collection for $80. I think the reason they took so long is because I had a very high balance for the majority of the time that I had the card. It wasn't until I brought the balance down and kept it down that they sent me my letter saying they were going to unsecure it.

 

If you're in need of a third card, I would honestly just wait until the rest of your baddies fall off. I know it's hard to be patient, but I think it'll be worth the wait. You'll have better starting limits and a better chance at some better cards. Just make sure to keep your balances low.

I think I've found the sacred map that may lead me to this garden everyone keeps talking about.



Officially collection free as of 3/19/19!!
STARTING SCORES: 377 (11/2013) & 580 (3/2018)
Message 11 of 18
Established Contributor

Re: Secured WF upgraded to unsecured

Thanks. I am going to take your advice. I only have 3-4 months and they should fall off. This forum is the best. I just signed up, but I have been reading for a while. I don’t plan on over using these cards. I have one $20 bill for one and an $8 bill for the other. Hoping to get the Disco Card unsecured.

Thanks again. I am happy for you getting WF unsecured.

CARDS: Discover It | QuickSilver One | Open Sky | Kohl’s | BB&T Spectrum Cash Rewards | NFCU CashRewards | NFCU More Rewards | OverStock
Starting Scores 05/2019: EQ:519, EX:525, TU:574
Message 12 of 18
Moderator

Re: Secured WF upgraded to unsecured

OP, I think you get the award for the longest graduation time, have never heard of a longer period. Grats on finally getting it.
"If there's a lack of money in your life, understand that feeling worried, envious, jealous, disappointed, discouraged, doubtful or fearful about money can never bring more money to you, because those feelings come from a lack of gratitude for the money you have."

"Reactions are powerful creators because they contain every element needed to manifest—they're a combination of thought, belief, and feeling in action. Positive reactions create more positive things, and negative reactions create more negative things. If you can respond to negative situations calmly and lightly, instead of with emotional turbulence, what happens next in your life will be so much better."

- Rhonda Byrne

Message 13 of 18
Regular Contributor

Re: Secured WF upgraded to unsecured

LOL only Wells Fargo (I call them Wells Fees) would make you wait 7 years and obtain a credit score over 800 before upgrading a secured card. Hahahahahahaha

Discover It $2k // Target Red Card - $700 // Synchrony Home - $2,500 // Merrick $1,400 // Legacy Visa $750 // Ollo Rewards $500 // Cap1 Platinum $500
(6 derogs remaining) (2 derogs remaining) (5 derogs remaining)
2020 Goals: Get all scores over 700; Obtain AmEx BCP; Get CLIs on Target, Discover, Ollo, Cap1, and Synchrony Home; and product change Cap1 Platinum to Quicksilver or Savor.
Message 14 of 18
Valued Contributor

Re: Secured WF upgraded to unsecured

My Cap1 still hasn’t unsecured and that’s been about the same period of time. I will make a call this month and it will probably end up in the trash.


Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 808 TU --- EX --- CK 804(FAKO-EX 821, EQ 823, TU 803)
Goal Score: 750

Take the FICO Fitness Challenge
Message 15 of 18
Established Contributor

Re: Secured WF upgraded to unsecured


@Rebuild2019 wrote:
Thanks. I am going to take your advice. I only have 3-4 months and they should fall off. This forum is the best. I just signed up, but I have been reading for a while. I don’t plan on over using these cards. I have one $20 bill for one and an $8 bill for the other. Hoping to get the Disco Card unsecured.

Thanks again. I am happy for you getting WF unsecured.

This forum was a godsend for me. I'm pretty sure I'd still be stuck in the 600's if I hadn't found it. I was able to go from 500's to 700's in 6 months, and if I keep making smart choices, I can be in the 800's in no time! 

 

I love my Disco card, so definitely try the pre-approval link once all your baddies fall off. I still had some on my reports when I got my Disco, but I know it'll grow with time. I started low and it's only up to $3,000, but I'm sure it'll go higher. My fiance on the other hand... He got approved for a high limit and is already up to $12,000! Funny because my scores are way better than his! He just doesn't have as much new credit as I do.

I think I've found the sacred map that may lead me to this garden everyone keeps talking about.



Officially collection free as of 3/19/19!!
STARTING SCORES: 377 (11/2013) & 580 (3/2018)
Message 16 of 18
Established Contributor

Re: Secured WF upgraded to unsecured

Disco gave me an unsecured card. Waiting now. Should be here any day. That’s my chance. Hopefully I can do as well as you have.

Thanks for responding.

CARDS: Discover It | QuickSilver One | Open Sky | Kohl’s | BB&T Spectrum Cash Rewards | NFCU CashRewards | NFCU More Rewards | OverStock
Starting Scores 05/2019: EQ:519, EX:525, TU:574
Message 17 of 18
Valued Contributor

Re: Secured WF upgraded to unsecured

Typical....Initial Credit Limit $1000.  Thats laughable considering I have 3 cards over $25,000 CL.  



Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 808 TU --- EX --- CK 804(FAKO-EX 821, EQ 823, TU 803)
Goal Score: 750

Take the FICO Fitness Challenge
Message 18 of 18
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