topic Re: Wells Fargo Secured Card Graduated....!! in Credit Cards

Wells Fargo Secured Card Graduated....!!

tay0thman — Sat, 05 May 2012 02:35:41 GMT

I'm a new Immigrant to the states...20 minutes ago I got a graduation letter in mail , and I'd like to share my info...

Unemployed

31/Dec / 2010 .... Applied for WF secured Card...500$ CL ***Employment status set by banker to "Student"

10/Jan/2011 ...... Recieved Denial Letter.

13/Jan/2011 .......Recieved Acceptance Letter..

01/Feb/2011........Visa account created after 2 days , 500$ deducted from checking

15/Feb/2011........Card Recieved in Mail , Activated instantly

18/Feb/2011........Recieved the 1st Statement

08/Feb/2011........Got a Job!!! :)

June / 2011 ..... Increased My CL to 2000$ ...by depositing more money to the sucured account..

August/2011.......Increased My CL to 3000$.....By depositing more

Nov/2011...I was pre-approved to Cap1 no hassle cash back .... open it with 2K CK

Feb/2012.......2nd Annual Fee Deducted

Mar/2012.......Increased CL to 10K......by depositing more Cash

04/May/2012 ....Got Graduation Letter....

*******I'll Update this post once I gen more info*************

Thanks

Re: Wells Fargo Secured Card Graduated....!!

Brusilov — Sat, 05 May 2012 02:53:09 GMT

Congrats !!! I'm still waiting on mine...

Re: Wells Fargo Secured Card Graduated....!!

klorics3 — Sat, 05 May 2012 06:02:17 GMT

Congrats! I got my graduation letter in the mail also, I called CS to accept the offer. Card should arrive within 10-14 days. Let me know how yours goes!

Re: Wells Fargo Secured Card Graduated....!!

Brusilov — Sat, 05 May 2012 14:32:13 GMT

Just curious but for both of you did you use the card regularly? Make small purchases occasionally or anything special?

I've had mine for about 3.5 years....no joke...and nothing. :( I have a Netflix subscription that I put on it and pay off every month...and that's about it. Maybe they're bitter at me for switching my checking & savings to NFCU. :smileytongue:

My plan I guess is to wait 1 more year (all the baddies on my report are falling off Dec/Jan) and if they don't unsecure by then I'm done with WF. I'm just really hesitant because it's my oldest open tradeline.

Re: Wells Fargo Secured Card Graduated....!!

Crashem — Sat, 05 May 2012 14:40:46 GMT

I noticed that in Wf secured examples, they increased the credit lines via deposits.

Re: Wells Fargo Secured Card Graduated....!!

tayOthman — Sat, 05 May 2012 14:41:12 GMT

Yes....I'm using Regularly....Keeping Utilization ratio less than 10%.....only Last october statement the ballance was 0 during the billing cycle closeout..

Re: Wells Fargo Secured Card Graduated....!!

tayOthman — Sat, 05 May 2012 14:47:10 GMT

@klorics3

I didn't get an offer to respond....just graduation letters says that I'll get my new card in 45 Days..

BTW...no Hard Pull was done , I'll check from which bureau they soft pull...

Re: Wells Fargo Secured Card Graduated....!!

Brusilov — Sat, 05 May 2012 15:11:33 GMT

Strange thing is WF "teased" me with 2 small unsecured increases on the card but nothing after that. I was using the card pretty heavily back then, though.

Re: Wells Fargo Secured Card Graduated....!!

tayOthman — Sat, 05 May 2012 16:18:04 GMT

In my situation WF never did AutoCLI on my account....I have to do it by my self..

Re: Wells Fargo Secured Card Graduated....!!

Brusilov — Sat, 05 May 2012 16:20:24 GMT

Do you have checking through WF?

Re: Wells Fargo Secured Card Graduated....!!

allnicksgone — Sat, 05 May 2012 20:02:10 GMT

I have had my WF $300 secured card since 2009 without graduating. I have a 732 fico score and a Discover, Chase, Southwest Visa, Capital One, and a JetBlue American Express cards with decent limits.

I don't think Wells Fargo will ever graduate me and I plan on canceling. It served it's purpose in building my credit.

At least that was my thinking after reading this post right before my mail came today.

A few minutes ago I got my graduation letter.

Re: Wells Fargo Secured Card Graduated....!!

LS2982 — Sat, 05 May 2012 21:41:44 GMT

allnicksgone wrote:
I have had my WF $300 secured card since 2009 without graduating. I have a 732 fico score and a Discover, Chase, Southwest Visa, Capital One, and a JetBlue American Express cards with decent limits.

I don't think Wells Fargo will ever graduate me and I plan on canceling. It served it's purpose in building my credit.

At least that was my thinking after reading this post right before my mail came today.

A few minutes ago I got my graduation letter.

after 3 years I would axe them with the cards you already have!!

Re: Wells Fargo Secured Card Graduated....!!

Brusilov — Sat, 05 May 2012 22:16:49 GMT

When I've called reps to inquire about graduation they've usually just told me to wait...blah blah blah they review accounts twice a year in April & October...you'll get paperwork in the mail if it happens. They also have given another alternative which is to apply for an unsecured card and close this one out. No one seems to know if it is a proper product change or not though. I don't really think it's worth the hard pull if the new card isn't going to retain the old history.

Re: Wells Fargo Secured Card Graduated....!!

Revelate — Sun, 06 May 2012 01:08:17 GMT

tayOthman wrote:
In my situation WF never did AutoCLI on my account....I have to do it by my self..

Depends how much you had at any given time for a deposit, and also depends when the other poster got the card. It's a strange time still economically but a 1-2 year swing is huge these days in lending policy.

Re: Wells Fargo Secured Card Graduated....!!

Brusilov — Sun, 06 May 2012 01:43:49 GMT

Ah yes, the glory days of 2008 when bankers still drank champagne filled with gold flakes. :smileyvery-happy: If I remember correctly there was a period in 2009 or 2010 where they ceased the graduation process entirely citing the new credit card laws.

I Got Mine Too!!!

SimonP — Sun, 06 May 2012 04:47:58 GMT

I normally do not check my mails on Saturdays, so I'm just reading your posts and thinking why not. Just a minute ago walked to the box, and guess what! I got mine too. After 33 months it is a relief. Most importantly, I get my 10K back! Like the op, I also increased my limit gradually over the years, and I have checking with them since 2009.

The letter says that this will happen in 45 days, and I have upgraded to a Platinum Visa. Thanks for the news. I am sure they have changed something that we all are receiving this letter in synch.

Re: I Got Mine Too!!!

Brusilov — Sun, 06 May 2012 04:45:00 GMT

That is awesome. I'll have to be sure to check my mail for the next few days. :)

Re: Wells Fargo Secured Card Graduated....!!

tayOthman — Sun, 06 May 2012 19:54:16 GMT

vonMannstein wrote:
Do you have checking through WF?

Yes , I do....I have checking & savings with total Balance of 2500$....it is my main account with Direct deposit

Re: Wells Fargo Secured Card Graduated....!!

tayOthman — Sun, 06 May 2012 19:55:58 GMT

allnicksgone wrote:
I have had my WF $300 secured card since 2009 without graduating. I have a 732 fico score and a Discover, Chase, Southwest Visa, Capital One, and a JetBlue American Express cards with decent limits.

I don't think Wells Fargo will ever graduate me and I plan on canceling. It served it's purpose in building my credit.

At least that was my thinking after reading this post right before my mail came today.

A few minutes ago I got my graduation letter.

Damn!!! ...it looks WF starts Graduating now...

Congratz...

Re: Wells Fargo Secured Card Graduated....!!

tayOthman — Sun, 06 May 2012 20:00:00 GMT

vonMannstein wrote:
Ah yes, the glory days of 2008 when bankers still drank champagne filled with gold flakes. :smileyvery-happy: If I remember correctly there was a period in 2009 or 2010 where they ceased the graduation process entirely citing the new credit card laws.

I don't think WF cards are Sexy enough to worth another hard pull.....

Just wait....

If i were you....i'd rather wait till one month before account birthday , i'll apply to a good credit card and close that one...

hopefully you'll get yours soon..