"Wrong Fico Suggestion"
Wells Fargo Platinum Card Review
Written by: meya on 2007-07-14
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meya's review: 
I believe your scores have to be a little higher than that (618) for this company.
[Quote by Finance Globe Staff] Hi Meya, please read Tom's post and my remarks regarding the FICO suggestion. Thank you!
I believe your scores have to be a little higher than that (618) for this company. [Quote by Finance Globe Staff] Hi Meya, please read Tom's post and my remarks regarding the FICO suggestion. Thank you!
2 Comments
Comment 1 by roger
618?? 
on 2007-07-15
I haven't applied for this card, but I've banked at WF for 10 years and I can almost tell you for a fact that you need more then a 618 for this card.
[Quote by Finance Globe Staff] Hi Roger, please read Tom's post and my remarks regarding the FICO suggestion. Thank you!
on 2007-07-15 I haven't applied for this card, but I've banked at WF for 10 years and I can almost tell you for a fact that you need more then a 618 for this card.[Quote by Finance Globe Staff] Hi Roger, please read Tom's post and my remarks regarding the FICO suggestion. Thank you!
Comment 2 by tom
I Would Say At Least 700 on 2007-07-15
I work for Wells Fargo and I can definately say that 618 would not get you approved. Wells Fargo has strict approval rates. I believe at least a 700 would get you approved for this card. I see so many people get declined.
[Quote by Finance Globe Staff] Hello Tom! I want to make everyone aware that the reason for the drop in the FICO for this card is this: May 2007 APR offered was 12.90%, and the required FICO suggestion was 711. Last month, however, it jumped up to 16.49%, therefore triggering our system to change the FICO suggestion to the 618. This month's APRs were just ran for all of the cards, and now it's being offered at 12.90 again. A little wishy-washy if you ask me. The FICO suggestion is now re-adjusted back to 711.
Thanks!
on 2007-07-15 I work for Wells Fargo and I can definately say that 618 would not get you approved. Wells Fargo has strict approval rates. I believe at least a 700 would get you approved for this card. I see so many people get declined.[Quote by Finance Globe Staff] Hello Tom! I want to make everyone aware that the reason for the drop in the FICO for this card is this: May 2007 APR offered was 12.90%, and the required FICO suggestion was 711. Last month, however, it jumped up to 16.49%, therefore triggering our system to change the FICO suggestion to the 618. This month's APRs were just ran for all of the cards, and now it's being offered at 12.90 again. A little wishy-washy if you ask me. The FICO suggestion is now re-adjusted back to 711.
Thanks!
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Disclaimer: This content is not provided by Wells Fargo. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Wells Fargo. Review content is powered by Finance Globe.
