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Established Member
Tanyasf
Posts: 105
Registered: ‎02-25-2013
0

Should i be feel bad to closed my Wells Fargo account ?

Hello.Everyone .Is my first time post .I come from  Singapore which a small Island  in Southwest Asia I don't speak English very well ,but I'm big fan of credit card . So far i have  :

Chase Southwest 5k

Discover    3.4k

BOA     2.5K

CHase  Freedom 2.3K

AMEX      2K

Wells Fargo  1.4K

Citi      1.2K

US bank 1K

Cap one  750

 

I think i have too much ,I need some useful cried card not some BS cards that i  put in my drawer .So i decide closed some trash ........

the first thing coming to my mind was Cap one .I had this account 1.5 year .I only got 500 to 750.Since ever them denied my CI everytime and I don't think Cap one will be generous in the futrue so  i called canceled   ,then US bank credit card ,I don't used it very often with a high APR .I called canceled  .   then i think about Wells Fargo  i have this card almost two years .but WF very stangy  with Cl,I start  with the College Reward card  with $700,six months later i  jump to$1000 6 months later ,Is jump to $1400 .But is take so long and  so small amount of CI ,I'm tired and sick of it .Plus WF reward really sucks ,spent $1 per 1 penny  such a  joke . so i called canceled it .Later i googling ,i have no regreats cloesd my US bank and Cap one .But i saw something good point about Wells Fargo .So I have second thought ,I might need think about  this .I called Wells Fargo ,but is was too late, Since the account is closed .There is no way to reopened it .I was wonder am i made a right chose to closed wells Fargo cc ????/Is a righdecide ????Any thought ?????? THanks 

I'm not an American and i will never be
New Contributor
stevenngu92
Posts: 71
Registered: ‎01-05-2012
0

Re: Should i be feel bad to closed my Wells Fargo account ?

What is done is done. You shouldn't feel bad that you closed your Wells Fargo card. I believe it's ideal to sock drawer the cards with no annual fee and run a charge through them once in a while, but if you weren't planning to ever use it then it was better to close it now then to have it closed later in life for inactivity. What was your second thought that made you want to keep your wf card open?

Amazon Store Card ($2500) Amex BCE ($7400) BofA Better Balance Rewards ($2500) Best Buy Store Card ($5000) Chase Freedom ($2500) Discover It ($5500) Walmart Discover ($5800) Wells Fargo CB ($3500)
Established Member
Tanyasf
Posts: 105
Registered: ‎02-25-2013
0

Re: Should i be feel bad to closed my Wells Fargo account ?

Thanks so you replying .i used to have WF college student card .but  i did see some college studetn who said that card is good . that's the reason 

I'm not an American and i will never be
New Member
Enhasa
Posts: 22
Registered: ‎02-25-2013
0

Re: Should i be feel bad to closed my Wells Fargo account ?

Wells Fargo cards aren't good for their rewards.

If rewards is what you primarily are going for, they're not the card for u.

 

I personally like my Wells Fargo even though I don't swipe that card as much now.

They've been pretty generous with my auto CLIs, and the best part is their interests rate. They are giving me about 10% APR, which is the lowest I've gotten, though I only been charged interests once during the 6+ years I have the card.

 

Established Member
Tanyasf
Posts: 105
Registered: ‎02-25-2013
0

Re: Should i be feel bad to closed my Wells Fargo account ?

Dear ,I also think they  are very stingy with CI ,Do you agree ?

I'm not an American and i will never be
New Contributor
stevenngu92
Posts: 71
Registered: ‎01-05-2012
0

Re: Should i be feel bad to closed my Wells Fargo account ?

[ Edited ]

You have plenty of other good cards that offer the same (1% ) and better rewards than the wf card. Those college students who told you that the wf card is good (enough to keep open), most likely do not have amex, chase freedom, discover, and the other cards you have.

 

fwiw i'm not a fan of wf credit cards. however their online banking (interface) for checking accounts, is superior to chase and others imo.

Amazon Store Card ($2500) Amex BCE ($7400) BofA Better Balance Rewards ($2500) Best Buy Store Card ($5000) Chase Freedom ($2500) Discover It ($5500) Walmart Discover ($5800) Wells Fargo CB ($3500)
New Member
Enhasa
Posts: 22
Registered: ‎02-25-2013
0

Re: Should i be feel bad to closed my Wells Fargo account ?

[ Edited ]

If I am not wrong, WF rewards is <1%

 

Right now its 13000 points for $100 cashback.

$1 = 1 point.

If u do the math, its below 1%.

So in terms of rewards, just consider them as non-existent with cards such as Slate, Simplicity, etc.

WF is a good card to have for low interest rates in general, not rewards. For rewards, Chase and AMEX are way better.

 

Wells Fargo CLI been pretty generous to me personally. I am guessing it is because I PIF, and swipe over 3k on that card each month on average. Might also be due to the money I have in my checking and savings since they're my primary checking/savings bank.

 

I want to get a CLI with chase, but apparently its a hard pull (according to phone rep), so I am holding that off. 

I have CLI of 2k with chase, and I swipe over 4k and also PIF each month on average.

 

 

New Contributor
stevenngu92
Posts: 71
Registered: ‎01-05-2012
0

Re: Should i be feel bad to closed my Wells Fargo account ?

whoops. i actually have the wf cash back card for students which is 1% for every purchase. Not sure about wf rewards, so you might be correct.

Amazon Store Card ($2500) Amex BCE ($7400) BofA Better Balance Rewards ($2500) Best Buy Store Card ($5000) Chase Freedom ($2500) Discover It ($5500) Walmart Discover ($5800) Wells Fargo CB ($3500)
Established Member
Tanyasf
Posts: 105
Registered: ‎02-25-2013
0

Re: Should i be feel bad to closed my Wells Fargo account ?

You do make me feel better guy .Hight five 

I'm not an American and i will never be
Established Member
Tanyasf
Posts: 105
Registered: ‎02-25-2013
0

Re: Should i be feel bad to closed my Wells Fargo account ?

I've never carry a balance ever on any of my CC . but since there is limit only $1400 and in order to keep good score i can not swich the all of $1400 ....that's sucks 

I'm not an American and i will never be

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