Good afternoon FG! I wanted to point out some observations I have noticed about some changes going on at Wells Fargo. First, it appears that Wells Fargo has split their consumer lending into 2 divisions:

1.) Wells Fargo Home Mortgage - Responsible for loans tied to real estate

2.) Wells Fargo Consumer Credit Solutions - Responsible for loans not tied to real estate (Autos, Credit Cards, Personal Lines, Student Loans)


With the new structure at Wells Fargo I can see them changing the way they lend on credit cards as well. I think you will see Wells move more toward a middle market credit card provider rather than just super prime. Shortly after all of these changes took place, Wells' old credit card chief quit.

http://www.businessweek.com/news/2011-11-30/wells-fargo-says-credit-card-president-left-two-months-ago.html

I think you will see Wells loosen their underwriting standards a bit on credit cards. They may already have. They recently approved me for a $0 annual fee credit card with a small cl ($500) but that was with a score in the 680's and a BK discharged in March of 2009.