If I Close Wells Fargo Bank Accts, Will They Close my CC?

[spritezero1017]

Hello, 

Two brief questions, if I may:

1. If I close my Wells Fargo bank accounts will they look to close my credit card as I would be ending my regualr banking relationship with them?

2. Will it harm my credit score to close these accounts as they are 15 year old accounts? 

Details:

I have multiple Wells Fargo bank accounts - my own Checking & Savings that I've had for about 15 years, and my teenage son's Checking & Savings which are only about 6 months old. These accounts are rarely used bc when I bought a new car 6 months ago DCU gave me a very good loan rate and so I moved about 95% of my daily banking to them. 

I've missed local banking (No DCU branches here in Florida obviously) so I just took advantage of an offer from Chase to open a Checking account for a cash bonus. I have 4 premier Chase Credit Cards and I like them a lot. So my banking is going to shift to Chase except for that which I have to do with DCU for my car loan relationship.

So.... I have a Wells Fargo credit card that is 6 months old and has a $9,000 limit with no annual fee. I never use it but it counts well toward my total credit ceiling and so helps my utilization and I'd prefer. I could feasibly use it a bit to show some usage so they wouldn't consider it totally dormant (which I would have done before its anniversary anyway).

Thanks for an insight. Much appreciated.

[jsucool76]

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@spritezero1017 wrote:

Hello, 

Two brief questions, if I may:

1. If I close my Wells Fargo bank accounts will they look to close my credit card as I would be ending my regualr banking relationship with them?

2. Will it harm my credit score to close these accounts as they are 15 year old accounts? 

Details:

I have multiple Wells Fargo bank accounts - my own Checking & Savings that I've had for about 15 years, and my teenage son's Checking & Savings which are only about 6 months old. These accounts are rarely used bc when I bought a new car 6 months ago DCU gave me a very good loan rate and so I moved about 95% of my daily banking to them. 

I've missed local banking (No DCU branches here in Florida obviously) so I just took advantage of an offer from Chase to open a Checking account for a cash bonus. I have 4 premier Chase Credit Cards and I like them a lot. So my banking is going to shift to Chase except for that which I have to do with DCU for my car loan relationship.

So.... I have a Wells Fargo credit card that is 6 months old and has a $9,000 limit with no annual fee. I never use it but it counts well toward my total credit ceiling and so helps my utilization and I'd prefer. I could feasibly use it a bit to show some usage so they wouldn't consider it totally dormant (which I would have done before its anniversary anyway).

Thanks for an insight. Much appreciated.

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I had a wells fargo checking and savings, and a CC

Closed my two bank accounts with them, they didn't close my CC

I then re-opened a checking account with them when they sent me a mailer offering $100 after 10 debit card purchases. Again, no problems. 

I also live in FL if it makes you feel better  

You'll be fine. 

And no, closing checking/savings accounts work harm your credit or credit score. 

[Anonymous]

The post above is correct, WF will not close your card if you close your deposit accounts. The only time it really matters if you have a deposit account with a bank is when you apply for a CC. They can take that relationship into account  (and their internal score) when making the credit decision. For example a large bank I use to work at would approve a CC if they had a checking for three years in good standing with an average balance of at least $1500, the limit may only be $500 but still.