I need to get a line of credit. At wells fargo, they told me to set up an account with them and after a few months I will have a better chance of getting approved for a credit card, I started an account but is there anything else I can do to have a better chance of getting approved?
The only reason I can think of as to why Wells Fargo said to do this is because you would have established a relationship with them, thus they will eventually send pre-screened offers based on your credit to you, to open a credit card. It's not a requirement to have a checking/savings account with a bank in order to hold a credit card with them. They just wanted to sell a product to you.
now, with that being said, have you shopped around for different types of cards? Or have you already zero'd in on Wells Fargo? If you haven't shopped around, I highly recommend you do that.
Obviously I don't know your credit situation, but it doesn't hurt to apply to one credit card, see if you get approved, then build it from there, if you have good credit.
I've found BOA as more friendly towards newbies
If you have a couple hundred ‘spare’ dollars laying around you could always get a secured credit card through WF. That’s how a lot of people restart their credit. After you’ve paid it regularly for a while…I think it’s a year…they give you your startup money back and up your limit. As time goes by, you make your payments on time, etc. they keep raising the limit. It’s as good a way as any and I’m surprised the WF person didn’t suggest it to you.
https://www.finimpact.com/business-lines-of-credit/
Ya know..i would say grab couple of credit card unsecured. Use for small purchases and then pay them off in time. When i say small purchases i mean $60-100$. Eventually bank will offer you line of credit if they see you fit for it..
There are credit card called secure credit cards, where you deposit credit line and bank issued that for you and once you established regular payment and in a year, bank refund your money and issued regular credit card.