• Report: #1064918
Complaint Review:

Wells Fargo

  • Submitted: Sat, July 06, 2013
  • Updated: Sat, July 06, 2013

  • Reported By: Erik — Flagstaff Arizona
Wells Fargo
Internet USA

Wells Fargo Secured credit card wont graduate and problem closing accout Flagstaff Arizona

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Back in 2011 I wanted to build my credit score and the only way to do so was to get a secured credit card with Wells Fargo.

 In early 2011 applied in their office in Flagstaff, AZ on Milton Ave. I gave them the check for $1300 for security deposit with the understanding that they would check my credit occationaly and when able upgrade my secured card to a standard card. I received a letter in the mail saying they were unable to verify my address and with multiple calls it turned out that they had mistyped the zip code by one digit. That caused a delay for a few weeks to get the card. I received the card in April 2011

 After receiving the card I used it for pretty much all my purchases being sure to never carry a balance and always pay ontime. I was a great customer. A few months later after receiving the card I started to think of buying a house and started talking with a few places about getting a loan. I found out while doing this I had a credit score in the upper 700's. I was able to buy a house and get a good rate for myself so I knew my credit had turned around.

 I had read that they check accounts every 6 months to see if they would qualify for an upgrade to a standard account. At the first check I didnt get upgraded. (October 2011) I can buy a house but wells fargo won't give me a credit card.

 At the 1 year check (April 2012) I had called to ask if they are going to upgrade me since reading online most people get upgraded around then. I was not upgraded. Though I was making progress, they bumped up my secured card limit to $1800. They still had $1300 of my money on hold but gave me $500 in unsecured credit.

 The next month (May 2012) I stopped by a credit union to get a loan to buy a motorcycle. I was growing tired of big banks. They wouldnt do a loan on a older bike but approved me for a personal loan at 4%. I had great credit almost 800. Wells Fargo would still not graduate me to a standard card.

 I had paid off my motorcycle loan (6 months) and it was time for the graduation check from Wells Fargo. Nope. they still dont trust me. As winter comes I need a new car. I go back to the credit union where I went for my motorcycle loan and was able to get a new vehical loan at about 3.5%. Great credit score and all and they cut me a check with a smile.

 Well April 2013 comes around and I am still not graduated. They card is now expiring and I just want my $1300 back. I am just told I can apply for a standard card. After the last 2 years I do not want to deal with them any more. I cancel my card.

 It takes them almost 2 months to give me a refund of my origional security deposit. They didnt send it for $1300 though. It was for $1282. They charged me a yearly fee on a card that was canceled. I angrely went down to a local office and told them this is BS and was asked to not swear and they cant do anything and to call customer service.

 I walk out and get home to call customer service. Explain to them that they are charging me a yearly fee on a canceled card and that I canceled the card before ever even activating the new one. They are now crediting my closed account and will send me a refund in 2 billing cycles unless I call and recancel my account and request a refund of the credited ammount.

 Do yourself a favor, if you need a secured card do not use Wells Fargo.

This report was posted on Ripoff Report on 07/06/2013 04:18 PM and is a permanent record located here: http://www.ripoffreport.com/reports/wells-fargo/internet/wells-fargo-secured-credit-card-wont-graduate-and-problem-closing-accout-flagstaff-arizon-1064918. 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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