Well, I called the 800# this morning to check on the status and sure enough, the recording said I was declined due to the reason that only 1 credit card is allowed per customer. The rules for getting a secured states that you cannot hold any other Wells Fargo cc's. I do not have a WF CC however I was issued one in March '05 which went delinquent and was charged off. I paid it in full last year. So I'm going the letter or recon route to see if it will work. This is the letter I am sending. I compiled it from a few different samples I found in these forums. I'd appreciate some feedback! Thanks.
Dear Sir or Madam::
Thank you for considering my credit application, and I know that my credit reports show a less than ideal applicant. However, I am writing today to ask that you reconsider my application.
One of the reasons given as to why I was declined for a Wells Fargo Secured Card is because only one card is allowed per customer. If you check your records further, you will see that I am currently not a Wells Fargo credit card holder. I was issued a credit card in March 2005. At that time, I was going through severe life changes which resulted in serious financial difficulties for myself. I allowed my Wells Fargo card, among others, to fall delinquent and was ultimately closed and charged off. In 2007, with the assistance of the Wells Fargo Recovery Department, I repaid the balance on my credit card in FULL. (Please see the attached letter I received from your Recovery Department.)
Again, I know that my credit reports reflect a less than ideal applicant; however I ask that you please consider the following:
I have maintained a perfect payment history on my current car loan over the past 7 months, I have paid down most of my debt, I have begun contributing to my Wells Fargo Savings Account (with automatic transfers each payday from my checking account) and have kept my Wells Fargo Checking Account in perfect standing for over the past 12 months.
I believe I have learned the essential organizational and financial management principles I desperately need. Thankfully, responsible credit management has now become a part of my life as I strive to improve my credit on a daily basis. I know that having a Wells Fargo Secured Credit Card would offer me the opportunity to get my credit back on track, as rebuilding good credit is now my top priority.
Thank you in advance for your consideration. I hope you will favorably reconsider me for the Wells Fargo Secured Card.
Please feel free to contact me if you would like to speak directly with me or would like any additional information.
