Wells Fargo Cash Wise approval odds were good if you had a credit score of 700, at a minimum - this meant you needed good credit or better to get approved. Unfortunately, the Wells Fargo Cash Wise is no longer available to new applicants.
Wells Fargo’s best cash back current offering is the Wells Fargo Active Cash® Card. Wells Fargo Active Cash requires a credit score of 700, at a minimum, for good approval odds. That means applicants will need good credit or better for approval. In addition, Wells Fargo looks at applicants’ housing status, monthly housing payment, and employment status. So to have the best approval odds, applicants will need to demonstrate that they are financially responsible and have the means to afford purchases on the card. And as with any other credit card account, Wells Fargo Active Cash requires applicants to be at let 18 years old.
Wells Fargo might also send you a pre-approved offer by mail and you can respond to it by flagging your application with your reservation number. You can also check whether you are pre-selected for a credit card offer. Pre-approval is generally a better indicator for good chances of approval as it is based on a soft inquiry on your credit report. Pre-selection is typically based only on demographic data. In either case, your odds of approval are good, but not guaranteed.
If you haven’t received a pre-approved or pre-selected offer, the best way to proceed is to check your credit score. If you don’t know where you currently stand, you can check your credit score for free, right here on WalletHub. Also, having a steady income and minimal existing debts will increase your chances of approval. Ideally, you should only be using 30% or less of any other credit you already have. A utilization ratio higher than that might damage your approval odds.
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