How to get pre-approved for a Wells Fargo credit card

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Wells Fargo is revamping its line of credit cards, and some of its new products are the best reward credit cards on the market. Take the new Wells Fargo Active Cash℠ card, for example, which offers a flat rate 2% cash back on all purchases, the best in the industry, with no hurdles to jump through.

Active Cash is just one of many great products that Wells Fargo offers, and the bank is set to launch more competitive cards in the near future. But before you start filling out an application, you must carefully determine if you are going to be eligible for the card.

Like many rewards cards, Active Cash is designed for cardholders with a good to excellent credit rating (above 670). And if you apply and are refused, you could face the consequences of a serious credit investigation on your credit score without the benefit of a new card in your wallet.

Fortunately, there are several ways to determine how likely you are to qualify for Active Cash and other Wells Fargo credit cards. Read on to learn more about assessing your chances of approval before you apply.

Which Wells Fargo cards can you get pre-approved for?

Wells Fargo’s credit card suite is undergoing major changes right now, so the options you can currently choose from are limited. However, there are options for more than one type of cardholder.

If you’re looking for a card that will help you earn big bucks on everything you buy, you can’t beat the Wells Fargo Active Cash Card. Not only does it offer 2% cashback on anything you buy, but you can also earn a $ 200 bonus after spending $ 1,000 in the first three months of owning the card. There is no limit to how much you can earn, and no category restrictions to follow.

If you’re more focused on paying off debt than getting rewards, you can also take a look at the Wells Fargo Platinum * Card. This card doesn’t come with any type of points or cash back, but instead offers users a generous 18-month period with an introductory 0% APR on purchases and balance transfers (16.49 % to 24.49% APR variable thereafter). This is one of the longest introductory periods you can find, and it should give cardholders enough time to reduce their balances without accumulating interest charges.

How to get pre-approved for a Wells Fargo credit card

Right now, the only place you can check out prequalified Wells Fargo card offers is on the issuer’s website. With just a few basic information, Wells can use a gentle survey (the kind that doesn’t hurt your credit score) to see if you qualify for their cards. This way you can get an idea of ​​if you will be approved without worrying about an impact on your score.

Wells Fargo also displays its cards in CardMatch, Bankrate’s tool for finding card offers that match your credit profile. While the Wells Fargo offers you will see in CardMatch are not technically prequalified offers, the tool uses a slight pull to your credit to assess which products are best suited for your needs, so it can still give you an idea. if you meet the target audience of the card.

Other Ways to Prequalify for Wells Fargo Credit Cards

In some cases, you may also receive a Wells Fargo pre-approved credit card offer in the mail. This means that they’ve done a slight pull on your credit report and you meet their basic minimum requirements to be approved.

How to increase your chances of being pre-approved

If you want to increase your chances of getting pre-approved, there are a few simple steps you need to take to improve your credit score. For example, you need to make sure you pay your credit card bill and other bills early or on time each month. Considering that your payment history is the most important determinant of your FICO score, this is easily the most important thing you should do when it comes to your credit.

Since the amount you owe against your credit limits is the second most important factor that makes up your FICO score, you should also focus on paying off your debt. This can lower your credit utilization rate, showing lenders that you are not at risk of overextending yourself.

Other steps you can take to improve your credit include not opening too many credit card accounts and keeping old credit cards open, even if you aren’t using them.

The bottom line

Getting pre-approved for a credit card can be smart, as you have the ability to assess your eligibility before making the effort to apply. Not only that, but some pre-approved offers are a better deal than what the general public sees. Either way, a Wells Fargo pre-approval only requires a gentle pull that won’t hurt your credit score. This is good news if you are considering a new credit card and are ready to explore your options, but not quite ready to apply.

* Wells Fargo Platinum card information was independently collected by Bankrate.com. Card details have not been reviewed or approved by the card issuer. The Wells Fargo Platinum Card is no longer available.


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