6/19/2023
Updated
Wells Fargo has several options for deferred payment of your purchases, some more accessible and others for premium customers. Currently, the following credit cards are available: Active Cash, Bilt Mastercard, Autograph Card and the Wells Fargo Reflect.
In recent years, this financial institution has completely revamped its credit card catalog, introducing new features and innovations aimed at offering a better service to customers.
To find out how to apply for a credit card at Wells Fargo and the requirements, here's a guide with updated information.
Wells Fargo Credit Card Application Requirements
Below, we show you Wells Fargo's requirements to obtain a credit card:
- Physical address. Due to federal regulations, your mailing address cannot be a PO Box, must be a physical address with street, number and zip code.
- Social Security Number. If you don't already have this ID, you can use your ITIN to apply.
- Stable income. No matter which credit card you choose, you must show that you are receiving money on a regular basis. Although this bank has not established a minimum annual amount, you will only be approved if you meet this condition.
- Good credit score. The relative exclusivity of this bank's cards requires a very good or excellent score. While they do not have a published minimum FICO score required to apply, it is best to be at 670 or above.
There are no secured credit cards in Wells Fargo's card catalog, so there is no possibility of applying for one if you have a low score or no credit history.
What is the pre-approval process with Wells Fargo?
Pre-approval is a very useful process because it allows you to know certain information without hurting your credit score and to understand if you have a chance. To do this, Wells Fargo provides you with an analysis tool on its official website that tells you in a minute or less if you can get approved.
The way to do it is very easy, you only have to enter your name, address and the last 4 digits of your SSN/ITIN. If you already have an account with this bank, you can skip this process and enter your login.
- APR: 20.24%
- Annuity: Ask
- Credit limit: Ask
- APR: 18.24%
- Annuity: Ask
- Credit limit: Ask
- Annuity: Ask
- Free debit money in: Wells Fargo ATMs
- Annuity: Ask
- Free debit money in: Wells Fargo ATMs
- APR: 20.24%
- Annuity: $ 0
- Credit limit: Ask
- APR: 21.49%
- Annuity: $ 0
- Credit limit: Ask
After submitting your information, this financial institution will let you know if there are any credit card prescreening offers. This means that, taking into account the information you have provided during the process, you have a better chance of getting approved. Still, don't think it's a sure thing.
In the event that you don't receive a pre-approval offer, you shouldn't be discouraged. You can still apply for a Wells Fargo credit card and get approved. If you meet their requirements, there's little reason to be denied the card you prefer.
Rules for applying for a card with Wells Fargo
Along with the above requirements, Wells Fargo has policies that govern credit card applications. The most important one states that only one welcome offer is given every 15 months to the same user, if more than one card is contracted.
This 'welcome offer' refers to any special promotion that applies within a set time frame and can include:
- Sign-up bonus.
- Interest rate discount.
- 0% introductory APR (or any other similar offer).
Once you receive some kind of welcome offer on a plastic from this bank, you will not be eligible for another card until 15 months have passed. Therefore, if you plan to sign up for more than one card with the bank and want to take advantage of these offers on all of them, you will have to wait 15 months between each one.
Now, if the credit card you got includes the 2 benefits we have described, you can take advantage of them without any problem. This is because they are both part of the welcome offer.
How to access a WF credit card more easily
To get financing, your FICO score is usually one of the most important factors in this type of application. It's clear that the better your score, the more lenders will see you as a trustworthy person. If you are not yet in the good/very good level, we suggest you:
- Pay on time. Payment history represents the largest percentage in the score calculation. Every time you fulfill your commitments and do not fall behind in your payments, you increase your score.
- Lower your card debt. The use of credit and the debt-to-income ratio also influence your score. High balances in plastic is not a good sign for financial institutions, so you should lower them to earn points.
- Review your credit file. Any errors in your credit information can have negative consequences. The major bureaus give you the opportunity to review this information without paying once a year to report any inconsistencies.
If applying for a credit card at Wells Fargo was unsuccessful, don't worry. With Busconomico's search engine you will surely find a credit card that matches your profile and with the features you need.
Español: Requisitos para solicitar tarjetas de crédito en Wells Fargo