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WEX Fleet approval, but Jiffy Lube and Conoco declines 2 days later..your thoughts?

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Last week I was approved for WEX fleet. 2 days later, I applied for Jiffy Lube and Conoco, but was declined for both. The message said the dec. letter would offer alternatives to me. i'm guessing they are referencing secured cards. Prior to these 3 apps, I had the basic starters,-Uline, Grainger, Ouill, Interstate Batteries, Aramark. That's my last app spree for a while... your opinions/input welcome. First time poster.

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A few weeks ago I applied for the 7-Eleven and Pep Boys cards from WEX and received declines and the "alternatives" message. Before I received any letters, WEX called me, indicating I had been approved for a 10k limit, over all WEX cards I had (Jiffy, Gulf, WEX, WaWA).... the two other cards (7/11, Pep Boys) were approved and arrived in the mail.

 

They adjusted the credit lines allowing for the total of all cards to be 10k.

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WEX can be really funny.. If you have limited credit apply for one WEX product at a time and if approved for one use it for a few months then apply for others. They like to approve then close accounts for really no reason so trend easliy with them.

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Global-Fleet Conditional approval: Your credit decision has been returned to me and has been conditionally approved for a $1,200 credit line. Please include your financial statements from last year and this year’s most recent interim, and send by email and we will finalize account set up. Have you guys seen this request before? - is it worth it?

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There are usually different underwriting standards for every account. Even if those accounts are issued under the same creditor. This can also be the case on personal cards.

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Stroked could you respond to above? also I don't have an easy way to generate financial statements I am just starting to use Quicken and putting all the transactions in there very time consuming. Do you know of an easy way to generate financial statements?

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Stroked, thanks for the input. I did get a letter from WEX yesterday that stated the cards had been sent out under separate cover for security reasons. I thought the "WEX Shuffle" might kick in...where they say you're approved, then close the account shortly therafter, but not so far. Hopefully, the cards will be issued with no problems.

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Stroked could you respond to above? also I don't have an easy way to generate financial statements I am just starting to use Quicken and putting all the transactions in there very time consuming. Do you know of an easy way to generate financial statements?

For a $1200 limit on a gas card I wouldn't even bother with financials. Not really worth the time and effort.

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Stroked, thanks for the input. I did get a letter from WEX yesterday that stated the cards had been sent out under separate cover for security reasons. I thought the "WEX Shuffle" might kick in...where they say you're approved, then close the account shortly therafter, but not so far. Hopefully, the cards will be issued with no problems.

Usually within a few weeks of getting the cards you will see a closure of the account(s) if it were to happen. Usually this happens to younger companies with very thin files or if something else doesn't add up.

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Stroked could you respond to above? also I don't have an easy way to generate financial statements I am just starting to use Quicken and putting all the transactions in there very time consuming. Do you know of an easy way to generate financial statements?

 

Entering all of your transactions is really the only way to do it right. We personally use our sales and expense software that is customized for our industry.

 

 

FWIW I have never had to send in financials for any of my accounts that are not PG'd.

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