I'm not sure Wells intend to approve broadly, fewer pissed off dissatisfied customers when the whole thing goes kaput.

I'm seeing a few data points from folks I know that have been rejected or approved with a dramatically lower CL so it's not looking as great as I would hope

I use Bilt as my primary, but even I'm on the fence about renewing here - I guess they just think the # of Evolve cardholders is low enough (and their stranglehold over TPG etc. is large enough) that it won't matter if there's a few disgruntled ex-cardholders

Glad I've only ever had the Wells Fargo card, I guess. This is an incredibly crappy move by Bilt to not ensure that existing cardholders in good standing can continue to have the card.

That’s interesting and I wonder if Evolve had laxer underwriting standards, compared to Wells when they took over as issuer… or if this has more do with Wells tightening underwriting as of late

They should be offering 20K points, which would represent the entirety of the $200 payment they will get from Wells Fargo for a new approval. It's the least they could do to compensate for the wasted time and hard pull + 5/24 slot. They already got paid for the original approvals for these original cardholders and should be paying the second approval payment forward instead of pocketing half.

Went from 22K limit on Evolve card to 10K on WF card. FICO over 800, ~400k income. WF very stingy.

Did they give you the bonus points offer for the first 5 days?

I decided to prepay my HOA fees for the next year as a hedge against any program changes that might happen to Bilt Rewards.

I haven't gotten any indication that I got the offer, but when I got that offer on the Evolve card it only happened on the day I got the physical card in the mail and I only did the WF application yesterday so maybe it'll come.

What is your total credit limit across all cards? Utilization? Any new recent accounts? Trying to tease out what they care about.

I have a similar profile, and was given a $30k limit by Wells. But this was a fresh application in May without any prior Evolve card. My utilization was 0 (I pay off before statements are cut) and my total credit was around $85k across 7 accounts before the Bilt card. 3x Chase, 2x AMEX, 1x BoA, 1x Barclays. I've never done business with Wells before.

I know that we all like to keep our credit scores up by paying ccs before the bill cuts, but please realize that in today's higher interest rate environment, you're giving up real money to keep that score high. You can easily get 5% annual interest for those 20 days or so of float you're giving up. On a $10,000 credit card bill, 20 days at 5% interest comes to about $27. Do that 12 times a year and that's $324. I'm not willing to pay $324 to keep my score a bit higher. Maybe on occasion I'd pay off a card before the statement cuts for a specific app, but now that interest rates are higher, I don't do this as standard practice like I used to.

What? There is no interest on your utilization that gets reported as statement balance. Do you pre-pay your CC so your statement balance is 0 every time? You're just giving your CC provider a free 1 month loan that way. I just lay 25 days after my statement is due, and that's interest free.

Right - that's my point. You can either:

-pay before the bill cuts so that the issuer reports your utilization as zero

-pay at the last possible date and get a real utilization reported (bringing down your credit score) but keeping your cash in an account that earns interest all the way

I use to do the former when rates were basically zero, but now that I can earn interest, I do the latter. Poster before me is still doing the former.

Ah sorry, I thought you were talking about interest on the credit card.

Even if there's no interest in a savings account, I don't see a reason to pay my bill early, unless my utilization was crazy high. And my overall utilization is way below 30%, so that's not a concern.

Some issuers will decline applications if they see zero utilization, on the theory that you are not using the credit lines that you already have, and are unlikely to be a profitable customer.

My total credit is 140k which is probably a factor. 5% utilization, only ~4yrs AAoA and oldest acct 7yrs which tends to hurt me too. Additionally, in my personal experience, the issuers that ask you whether you're a citizen or permanent resident tend to be conservative with their lending when you answer no. As soon as I saw those questions I was skeptical I would even get approved.