Credit Card Help | Wells Fargo (2024)

FAQs

What credit score is needed for Wells Fargo? ›

Good credit: A FICO® Score of 670 or higher is suggested when applying for a Wells Fargo card. There isn't a strict minimum credit score with Wells Fargo, but it typically only approves applicants with good credit or excellent credit.

We'll alert you when your card is declined for reasons such as: Reported or suspected fraud. Payments that are past due. An overlimit, suspended, or closed account.

Yes, Wells Fargo does a hard inquiry on your credit report whenever you apply for one of its credit cards. A hard inquiry usually results in a slight decrease in an applicant's credit score, but the effect only lasts for a short period of time.

The letters typically say that the person was affected by the calculation error, and offers them a check in the range of $10,000 as a gesture of good will. If the person isn't satisfied with the amount, Wells Fargo generally offers to submit to independent mediation to determine if the person should get more money.

Bottom line. To qualify for the Wells Fargo Active Cash® Card, you typically need at least a FICO® score of at least 670. However, the issuer also looks at other factors, such as the amount of credit card accounts you have and the time frame from which you opened a new account.

One of the easiest Wells Fargo credit cards to get is the Dillard's Store Card because you only need fair credit (a credit score of 640+) to be approved. Most Wells Fargo credit cards aren't that easy to obtain since they require good or excellent credit (a credit score of 700+) for approval.

Wells Fargo will periodically review how you're managing your current limit and may lower it if they don't think you can afford the full thing. You can call Wells Fargo at 1-800-642-4720 to ask about the particular reasons why your credit limit was lowered.

Good credit needed

The Wells Fargo Reflect credit score requirement is 700+. You can check your credit score for free on WalletHub.

Wells Fargo has not stopped offering credit cards. In July 2021, the company announced that it would no longer offer personal lines of credit, but that decision was reversed about a month later and never applied to credit cards.

How long does it take Wells Fargo to approve a credit card? ›

If you are not instantly approved, we will mail you a credit decision within 5 to 7 business days. If you are approved, you will receive a mail package with information intended to help you better understand your credit report and a copy of the applicable Wells Fargo Privacy Notice.

No, Wells Fargo does not have a 5/24 rule, which means Wells Fargo will not automatically reject an application just because you've opened five or more credit card accounts during the past 24 months.

For automobile repossessions, compensation is “at least,” but is not limited to, $4,000. For mortgage holders that were unable to modify their mortgages to avoid foreclosure, damages average $24,125 per claimant. For deposit accounts, customers average $100 in damages.

Customers that may have had an account or service opened without their consent or without being fully informed of the details of the account or service may be eligible for remediation. Additional details regarding the remediation that Wells Fargo has provided are outlined below.

“The CFPB is ordering Wells Fargo to refund billions of dollars to consumers across the country,” said CFPB Director Rohit Chopra. “This is an important initial step for accountability and long-term reform of this repeat offender.”

Wells Fargo starting credit limit: It's important to remember that $1,000 is the lowest credit limit you'll start out with if you're approved for an account. However, you could receive a higher limit. The actual limit you'll receive is based on your credit history, income, employment status, level of debt, and more.

Most of Wells Fargo's best credit cards have a credit score requirement of 670 to 850, so improving your credit is the best path to earning a preapproval. Take these steps to improve your credit score and optimize your chances: Make all bill payments on time.