How do you know and take advantage of the Wells Fargo Credit Card Pre-approval? If you apply for a credit card it’s hard to say if you’re going to end up with a denial. That’s why you may want to know if you are already prequalified for the card you are applying for.
By entering your personal information online, the larger financial institutions may allow you to check the cards you are prequalified to. This will include your name, address, and social security number.
The lender will then mail you information on the cards for which you are pre-qualified.
A prequalification can be useful if you want a better idea of where you stand on a credit application. While you can’t get prequalified for a Wells Fargo card, you can potentially get a preapproval letter.
What is Wells Fargo?
With the iconic six-horse stagecoach as its logo, Wells Fargo’s history is perhaps the best known of the United States “Big Four” banks.
Since 1852, Wells Fargo has grown with what would become the Western U.S. to today serve customers throughout the nation. Stagecoaches, ponies, steamships, and the internet have all served as transportation of assets for what is today the third largest bank in the country.
Wells Fargo’s operations include personal, small business and commercial services. Here are some of the services it offers.
- Banking. In addition to checking and savings, there are also debit and prepaid cards, as well as credit cards.
- Loans and credit. These include everything from mortgage and home equity to personal and student loans.
- Investing and retirement. Services include IRAs, rollovers, and mutual funds and investment services.
- Wealth management. This includes wealth planning and trust services.
- Banking. This includes business checking, savings, IRAs, and debit.
- Loans and credit. From business credit cards to business real estate and healthcare practices financing, these services are expansive.
- Merchant services. Offered are Clover POS Systems, as well as payment and credit card processing.
- Payroll and other services. This includes payroll services, time and attendance, investing for retirement and other services.
From auto dealerships to waste and recycling, Wells Fargo has extensive experience in the commercial sphere. Services include commercial financing, real estate and trust services, as well as international services and investment banking.
How Do I Get Prequalified for Wells Fargo Products?
Wells Fargo currently doesn’t accept prequalification requests. That said, the bank may send you a pre-approval offer in the mail if it thinks you may be a good fit for one of its cards.
While it’s not possible to request a preapproval letter, you can increase your chances of receiving one. Wells Fargo, like most banks, prefers customers with good to excellent credit.
It may also send more offers to its own customers. Check out a few ways to boost your credit score.
What Does Pre-qualification Mean?
Prequalification means a bank has initiated a soft pull on your credit and thinks you might be approved for one of its credit cards. If you’re prequalified, you may have a strong chance of approval — potentially 80% to 90% or higher.
You’re not out of the woods yet if you’re prequalified, as approval is never guaranteed. Your card provider will take a deeper dive into your credit profile through a hard pull, and you may still be denied.
However, prequalification can give you a better sense of where you stand.
How to Check If You’re Pre-qualified for a Wells Fargo Credit Card?
If you are interested in how to check if you’re pre-qualified for a Wells Fargo credit card, you are at the right place.
Unlike other companies where you can request for the offers you are pre-qualified for, Wells Fargo offers no such option. The only thing you can do is apply for your card straight away.
However, existing members of the bank could have an exception. For such, all they need to do is sign into their online account, click the “Products & Offers” option, and see if there are any prevailing pre-qualifications specifically for them.
You could have received a pre-qualification offer in the mail. Where that’s true, you may respond through the Wells Fargo credit cards page ( Click on ‘Respond to an offer‘).
You will enter the last four digits of your social security number and the reservation number, before accessing your Wells Fargo credit card offers.
Wells Fargo doesn’t allow consumers to request prequalification. However, you may be able to increase your chances of getting a preapproval letter.
If your credit isn’t where you want it to be, consider a secured product such as the Wells Fargo Secured Credit Card. And if prequalification is important to you, consider a provider with prequalification such as Chase or American Express.
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