• Report: #1037477

Complaint Review: WELLS FARGO

  • Submitted: Sat, March 23, 2013
  • Updated: Sun, March 24, 2013

  • Reported By: SHANEIKA — DANBURY Connecticut
WFCC CUSTOMER CORRESPONDENCE,P.O BOX 560947 CHARLOTTE, North Carolina United States of America


*Consumer Comment: Not a RipOff

*Consumer Suggestion: More info

*Consumer Comment: misconception

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3 weeks have passed as I was supposed to get a phone call from the executive office from "Melissa" due to the nature of my complaint via the Attorney Generals Office of Connecticut,its in the best interest to keep your word Wells Fargo. I keep following up every week,only now to be told "I may or may not get a phone call back".

3 weeks ago( March 8th,2013) I was told by Matt and his supervisor Kinney in Salem Oregon I would be receiving a call in 3 to 5 business days. Never received that call. So I followed up last Friday, March 15th 2013.

Spoke to  Erin, another customer service representative. I explained the situation all over again. She informed her supervisor of my complaint.

Her supervisor Tiger Gliba told her to tell me, that he would be emailing the executive office and that I would be emailed back. I  have never received the email. On Wednesday March 20th,2013 I called customer service again.

I spoke to Griselda in Salem Oregon. Supposedly her supervisor Victor was on the line calling the executive office, but the line was busy. Griselda told me that I would be receiving a call back within a half hour to an hour that day. I asked her was she sure because of the time difference. She assured me that I would be definantly be getting a phone call back within the time frame she gave. I never received that phone call.

It's now Saturday March 23. I have done nothing wrong but make on time,minimum payments. Your rules clearly state"you must make your minimum payments and on time". Yet my line of credit was taken away. Wells Fargo I'm not going away until my complaint is resolved...

This report was posted on Ripoff Report on 03/23/2013 08:02 PM and is a permanent record located here: http://www.ripoffreport.com/r/WELLS-FARGO/CHARLOTTE-North-Carolina-28256/WELLS-FARGO-TOOK-BACK-MY-LINE-OF-CREDIT-BECAUSE-IM-ONLY-MAKING-MINIMUM-PAYMENTS-CHARLOTT-1037477. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 Consumer Comment

Not a RipOff

AUTHOR: Robert - ()

They are the Credit GRANTOR, which means that they get to determine not only if they will grant you the privilege of having a line of credit with them..but how much that line will be.  If they wanted to they could right now close out your account for absolutely no other reason than they no longer want to take the risk on you.   Yep..even if you have paid every payment on time and for at least the minimum amount.  There is no law, regulation or Government Agency that will force them to give you a specific credit line.

Now, I am not going to go into them not calling you back when they say they will.  Just that even if they do call you back it is not going to change anything and they would basically tell you the same thing.

As a bit of a side note.  Just paying the minimum is actually seen as a negative with many credit card companies.  That alone could cause them to take a second look at you and determine that they no longer want to risk allowing you to borrow.  This can be Especially if they notice a trend.  Such as you used to pay 2-3 times the minimum, but now not only are you just paying the minimum but your balance is going up. 
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#2 Consumer Suggestion

More info

AUTHOR: Batman - ()

First, Wells Fargo not wanting to do business with you any longer is not a rip-off. 

I doubt they canceled your credit because you were making minimum payments. That's what they want! They want you to take as long as possible to pay back the money so long as you're never late either, so I'd bet the farm there was another reason for the change.

How exactly were you notified your line of credit was "taken away?" I'm assuming you got a letter and if so, it would have explained exactly why they canceled your credit line. I can guarantee it wasn't because you're a good customer who makes all his payments on time...

If it wasn't something you did directly to Wells Fargo, then it was probably because something else changed in your financial profile. Things like other accounts becoming delinquent or charged off or judgments or liens filed against you can all make a company cancel a customer's line of credit.

Heck, even a new account can make them think twice if it increases the potential of you going into too much debt. Let's say you make 50K and your credit is perfect and all is well. If you go and open new lines of credit, your max limits on everything changes, both old and new, so if the new total seems like it'd be too much for you to pay back given your salary information, some companies may not want to take the risk and would cancel your credit. 

Your best bet is simply pay off the card, forget them, and move on with your life. Cut them a check or keep making the minimum payments and make them wait, it's up to you. Either way though, they're obviously done with you. Honestly, given the circumstances, what you should be asking yourself is why you would want to continue to do business with them anymore. 
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#3 Consumer Comment


AUTHOR: coast - ()

You are suffering from the misconception that Wells Fargo is required to give you credit. They have the right to deny or alter your credit limit at their discretion. Neither the AG nor any other agency has the authority to require any financial institution to offer or maintain a customer's credit limit.

You should always pay more than the minimum amount due.
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