Updated: Mar 17, 2018
Wells Fargo is starting to gain popularity in the credit card space but they can be quite a strange duck, read our list before applying for a Wells Fargo Credit Card.
Wells Fargo Credit Cards - 18 Things You Should Know
Its good to have an existing relationship with Wells Fargo before applying for a credit card with them. Setting up a personal checking account is the simplest way of making this happen. They also give a $100 bonus for setting up a new bank account.
They don't normally approve people who aren't permanent residents. No quite sure the reasoning of this but one of their rules.
If you apply for a Wells Fargo card and your denied, make sure to call the reconsideration department. They can be tough when it comes to turning a denial into approval, but its worth a shot. If you've never dealt with a reconsideration department, I would recommend reading these tips first.
Wells Fargo cards are churnable, this means you can get the bonus more than once. The downside is they don't have to many cards to choose from.
They'll merge multiple inquiries as long as the two cards are applied for on the same day. However it can be very difficult to get approved for both.
There's no set in stone limit to how many Wells Fargo credit cards your able to have.
They don't offer any referral programs which seem to be the norm more and more now days from credit card issuers.
They're one of the few credit card issuers that doesn't allow you to check your credit card pre-qualified offers online.
Wells Fargo will allow you to request for a credit limit increase however its recommended to do this over the phone and ask if they're going to do a hard or soft pull as there have been inconsistent reports on this from others.
Whenever reallocating any credit card limits with Wells Fargo they will always initiate a hard credit pull.
They allow you to allow card changes between existing cards. This may be worth looking into if you want to switch to a card with no annual fee and keep the phone insurance they offer.
Cards with annual fees don't come with any retention bonuses.
Your statement balance is reported as credit used to the reporting agencies. Make sure to always pay off any large balances before your statement comes as carrying a large balance can really lower your fico scores.
If you need to change your statement closing date Wells Fargo allows you to call in. This comes in handy when you need to make sure your statement shows a lower balance but aren't able to pay it on the normal date.
The time you have to reach your minimum spending requirements is based on your card approval and calendar months.
Wells Fargo doesn't report balances from your business credit cards to the personal credit bureaus which is useful when your trying to keep your balances down and your personal credit scores at their max.
You can check your credit card application status anytime online.
If you've opened a Wells Fargo credit card within the last 16 months then your not eligible for a bonus on another card.
If you’d like to see similar information about smaller credit card issuers or you know some information we’ve listed above that we aren’t sure about then please let us know in the comments below. You can also check out information about other credit card issuers below.
Bank of America