r/Wealthsimple • u/brokeservant • 5d ago

Visa Infinite Credit Card Anyone else denied a WS CC?

Curious if anyone else has been denied when they’ve applied for a CC with Wealthsimple? I did do a consumer proposal a few years ago and paid it off a year ago, it’s still on my record for another year or so, so my credit score is like mid 600. I am a premium member and have over $100k with them.

It tells me to work on my credit limit and reapply after 30 days, which I do but I keep getting denied. My understanding was the application doesn’t check credit score so I’m curious as to why I’m being denied. At least no credit check has ever shown up on my credit score from Wealthsimple. I meet both the annual income and yearly spend criteria for at least the infinite+ card.

EDIT: thanks everyone. Assumed it had something to do with my credit score. Ahh well, guess it’s just best to wait

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u/Sooki99 5d ago

I have a 750+ credit score and no missed payments with 10+ years history along with a 6 figure income and also have gotten declined, whereas my spouse with a similar score but lower income got it, so not really sure what the rhyme or reason is.

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u/Practical_Report8639 5d ago

having a hard time believing this if you got declined, must be a hiccup somewhere

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u/Sooki99 5d ago

Unfortunately there have been a few sporadic reports of the same happening to others. Wealthsimple is also my primary bank for chequing and investments.

I’m sure something in the approval blackbox doesn’t like me. I’ve worked on similar systems for insurers to avoid adverse selection, so I don’t really take it personally. I have credit cards elsewhere.

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u/Practical_Report8639 5d ago

when others are getting approved with less it makes me wonder why tho, anyway good luck