Approved for Wells Fargo Cash Back Visa

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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otter
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Approved for Wells Fargo Cash Back Visa

Postby otter » Wed Jan 22, 2014 6:14 pm

Well, I was going to keep the Wells Fargo Secured Card, but I read a recent thread on FICO where people were discussing their WF Secured Cards which had yet to graduate after 3 or 4 years. This presented a problem. I don't like Wells Fargo as a bank, but it is convenient for me since I make my deposits from work there anyway and like having a bank local (and truth-be-told the people at the branch are really nice which is a plus). So in order to avoid a charge to my checking account, I either have to have a larger amount of money there than I want to(since I get interest from my primary bank, Charles Schwab), have a large enough direct deposit(most of my money goes into Schwab or Bank of America who I also have an account with), do 10 debit card transactions(which I never do of course), or do 3 credit card transactions. So keeping a credit card open at WF kinda makes sense for me (although I know I could simplify things by closing the WF and BoA accounts).

So I applied for a Wells Fargo Cash Rewards account. Not instant- but after verification (does anyone get instant approvals anymore?) I was approved for $4200!

So now I have three cards (at least until March) which have 5% gas, So unsure who gets the swipes- WF, Freedom, or Sallie Mae. Obviously, I want to use the Sallie Mae at least once for gas(to get the $25 first use bonus) and I want to charge $500 on Chase to get the $100. But I only have six months to get the 5% on gas and groceries from WF. Any suggestions? I guess it's a nice problem to have deciding which 5% card to use. I guess I'll be buying a lot of gas over the next couple of months...
In my Wallet:
  • Amex PRG NPSL[3-14, bd 91]
  • Sallie Mae MC $8000[1-14]
  • Chase Freedom $4700[1-14]
  • Discover It $2750[8-13]
  • BoA UCF Alumni Cash Rewards $5000 [3-15]
Sometimes in my Wallet:
  • GM BuyPower WEMC $5000[9-14]
  • Wells Fargo Propel 365 Amex $7000[4-14]
  • Barclaycard Arrival WEMC $7000[3-14]
  • BoA Better Balance $3000[2-15]
In my sockdrawer: Amex BCE $1000[10-13, bd 91], OCCU Duck $10000 [11-13], The Sportsman's Guide Visa $8000[8-14], Chase Slate $4000 [9-14]Delta Gold Amex $2000 [2-15 bd 91], Diners Club MC $20000 [10-14] Commerce Bank Visa $2000 [3-15] Citi Double Cash $1000 [3-15]
Total CL: $90450


MemberSince99
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Postby MemberSince99 » Wed Jan 22, 2014 6:19 pm

Congratulations! Now I'll see you in the garden! :)


Just kidding otter! You are building up a nice collection of cards.

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otter
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Postby otter » Wed Jan 22, 2014 6:54 pm

MemberSince99 wrote:Congratulations! Now I'll see you in the garden! :)


Just kidding otter! You are building up a nice collection of cards.


You should see my new siggy on FICO... wonder how many people are going to think I'm really gardening until April of '20!
In my Wallet:
  • Amex PRG NPSL[3-14, bd 91]
  • Sallie Mae MC $8000[1-14]
  • Chase Freedom $4700[1-14]
  • Discover It $2750[8-13]
  • BoA UCF Alumni Cash Rewards $5000 [3-15]
Sometimes in my Wallet:
  • GM BuyPower WEMC $5000[9-14]
  • Wells Fargo Propel 365 Amex $7000[4-14]
  • Barclaycard Arrival WEMC $7000[3-14]
  • BoA Better Balance $3000[2-15]
In my sockdrawer: Amex BCE $1000[10-13, bd 91], OCCU Duck $10000 [11-13], The Sportsman's Guide Visa $8000[8-14], Chase Slate $4000 [9-14]Delta Gold Amex $2000 [2-15 bd 91], Diners Club MC $20000 [10-14] Commerce Bank Visa $2000 [3-15] Citi Double Cash $1000 [3-15]
Total CL: $90450

samhradh
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Postby samhradh » Wed Jan 22, 2014 7:25 pm

IIRC Sallie Mae card only gives you 5% on first $250 spent per month on gas/groceries. If it were me:

1) I'd consolidate my bank accounts to earn more interest.
2) I'd use the WF until the 5% CB ends. You app'd for it so might as well make use of it.
3) Give your SM a swipe for the bonus.
4) Meet min spend on Freedom.
5) Do the min number of swipes on your WF to keep your account fee free (as an aside, I reject the notion I should pay someone for the right to use my money which is what these fees are basically for)
6) Do category spending on Freedom.
7) Use SM for groceries and gas when the Freedom doesn't offer 5% on gas.

I mean basically all this breaks down to use the right card for the right purchase...
Citi Forward ($10.1K), AmEx Blue Cash Everyday ($30K), Chase Freedom ($12.4K), Discover it ($5.5K), Barclaycard Arrival ($12.5K), L.L. Bean Visa ($5K). FICO 806 (TU), 812 (EQ), 806 (EX).

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otter
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Postby otter » Thu Jan 23, 2014 4:26 pm

Go raibh mile maith agat, a shamhradh! I am actually in the process of getting purging BoA from my entire financial life (CC, savings, and checking, as well as transferring my rollover IRA out of merill lynch, so that consolidates a little.

I too dislike the whole checking account fee thing...this is why the bulk of my direct deposit goes to schwab where there are no fees.
In my Wallet:
  • Amex PRG NPSL[3-14, bd 91]
  • Sallie Mae MC $8000[1-14]
  • Chase Freedom $4700[1-14]
  • Discover It $2750[8-13]
  • BoA UCF Alumni Cash Rewards $5000 [3-15]
Sometimes in my Wallet:
  • GM BuyPower WEMC $5000[9-14]
  • Wells Fargo Propel 365 Amex $7000[4-14]
  • Barclaycard Arrival WEMC $7000[3-14]
  • BoA Better Balance $3000[2-15]
In my sockdrawer: Amex BCE $1000[10-13, bd 91], OCCU Duck $10000 [11-13], The Sportsman's Guide Visa $8000[8-14], Chase Slate $4000 [9-14]Delta Gold Amex $2000 [2-15 bd 91], Diners Club MC $20000 [10-14] Commerce Bank Visa $2000 [3-15] Citi Double Cash $1000 [3-15]
Total CL: $90450

MemberSince99
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Postby MemberSince99 » Thu Jan 23, 2014 6:55 pm

otter wrote:You should see my new siggy on FICO... wonder how many people are going to think I'm really gardening until April of '20!




You will get that diamond titanium spade and a date with 09Lexie yet if you keep up the good work, that's the spirit!

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otter
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Postby otter » Thu Jan 23, 2014 8:33 pm

MemberSince99 wrote:You will get that diamond titanium spade and a date with 09Lexie yet if you keep up the good work, that's the spirit!


I'll have to do a few shopping cart tricks before our date... that way I can get some clothes from J Crew (for me) and some from Victoria's Secret (for her). I'll have to chose carefully since both cards will have a $100 limit.
In my Wallet:
  • Amex PRG NPSL[3-14, bd 91]
  • Sallie Mae MC $8000[1-14]
  • Chase Freedom $4700[1-14]
  • Discover It $2750[8-13]
  • BoA UCF Alumni Cash Rewards $5000 [3-15]
Sometimes in my Wallet:
  • GM BuyPower WEMC $5000[9-14]
  • Wells Fargo Propel 365 Amex $7000[4-14]
  • Barclaycard Arrival WEMC $7000[3-14]
  • BoA Better Balance $3000[2-15]
In my sockdrawer: Amex BCE $1000[10-13, bd 91], OCCU Duck $10000 [11-13], The Sportsman's Guide Visa $8000[8-14], Chase Slate $4000 [9-14]Delta Gold Amex $2000 [2-15 bd 91], Diners Club MC $20000 [10-14] Commerce Bank Visa $2000 [3-15] Citi Double Cash $1000 [3-15]
Total CL: $90450

TheLethargicAge
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Postby TheLethargicAge » Thu Jan 23, 2014 10:20 pm

otter wrote:I'll have to do a few shopping cart tricks before our date... that way I can get some clothes from J Crew (for me) and some from Victoria's Secret (for her). I'll have to chose carefully since both cards will have a $100 limit.


Just get added as AU on someone's CareCredit account and you'll be just as awesome as BearsAndTurtlesAreTheBest! (Will someone tell that moron to just get a secured card?)
Blue Cash Preferred ($24K), Costco TrueEarnings ($8K), Better Balance Rewards ($6K), CashForward ($15K), Sallie Mae Rewards ($10K), Quicksilver ($17K), AARP Rewards ($15K), Freedom ($15K), Double Cash ($16.5K), It ($28.5K), Fidelity Investment Rewards ($18K), Cash+ ($11K)

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otter
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Postby otter » Thu Jan 23, 2014 11:29 pm

TheLethargicAge wrote:Just get added as AU on someone's CareCredit account and you'll be just as awesome as BearsAndTurtlesAreTheBest! (Will someone tell that moron to just get a secured card?)


Isn't he like 0 for 800 on apps? I don't even think FP will touch him...
In my Wallet:
  • Amex PRG NPSL[3-14, bd 91]
  • Sallie Mae MC $8000[1-14]
  • Chase Freedom $4700[1-14]
  • Discover It $2750[8-13]
  • BoA UCF Alumni Cash Rewards $5000 [3-15]
Sometimes in my Wallet:
  • GM BuyPower WEMC $5000[9-14]
  • Wells Fargo Propel 365 Amex $7000[4-14]
  • Barclaycard Arrival WEMC $7000[3-14]
  • BoA Better Balance $3000[2-15]
In my sockdrawer: Amex BCE $1000[10-13, bd 91], OCCU Duck $10000 [11-13], The Sportsman's Guide Visa $8000[8-14], Chase Slate $4000 [9-14]Delta Gold Amex $2000 [2-15 bd 91], Diners Club MC $20000 [10-14] Commerce Bank Visa $2000 [3-15] Citi Double Cash $1000 [3-15]
Total CL: $90450

MemberSince99
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Postby MemberSince99 » Fri Jan 24, 2014 7:01 am

He should try the Shopping Cart trick. At least that way he'll have some cards even if he never uses them, all with 100 dollar limits he can't get into trouble with.



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