Despite having a stellar credit score above 800 and a flawless credit history, I was shocked to find my application for a Wells Fargo credit card denied. The reason? I had opened too many credit cards in a relatively short period. Over the past two years, I had added five new accounts, which raised red flags for the issuer. Credit card companies often look for loyalty and consistent spending patterns, and my recent applications suggested I might be a credit card churner—someone who opens cards primarily for sign-up bonuses and then cancels them. This perception likely influenced Wells Fargo's decision, as they may have doubted my commitment to using their card. If you find yourself in a similar situation, consider waiting before reapplying, as hard inquiries can linger on your credit report for up to 24 months. In the meantime, I plan to focus on maximizing rewards with my existing cards until I can reapply.
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