**UPDATE** wells fargo secured not graduated after 42 months!

[slap_happy]

Hi, first time long time, 

I started rebuilding my credit almost 4 years ago after all my junk when I was 18-19 yo fell off my credit report, it was a clean slate and I began with a wells fargo secured card with a $300 CL, since then, I have a amex NPSL Zync, Amex blue sky preferred with over 10k cl, discover it, BOA signature, chase freedom all around $5k.

I contacted WF last week, mentioned that I have never missed a payment, was never late, never over my cl, always paid more then the minimum and please remember, I am at 42 months with them. 

recieved a letter today telling me that I cannot be graduated because my debt to income ratio is to high! this is hilarious, I make over $100,000 and all my credit lines combined are under $30,000. mind you, they are almost all at or near zero since I PIF every month. a 30% debt to income ratio is good enough to get a loan on buying a house but not to get graduated from wells fargo!!! can anyone believe this! 

in closing, dont ever get a wells fargo secured card.

[lajntx]

---

@slap_happy wrote:

Hi, first time long time, 

I started rebuilding my credit almost 4 years ago after all my junk when I was 18-19 yo fell off my credit report, it was a clean slate and I began with a wells fargo secured card with a $300 CL, since then, I have a amex NPSL Zync, Amex blue sky preferred with over 10k cl, discover it, BOA signature, chase freedom all around $5k.

I contacted WF last week, mentioned that I have never missed a payment, was never late, never over my cl, always paid more then the minimum and please remember, I am at 42 months with them. 

recieved a letter today telling me that I cannot be graduated because my debt to income ratio is to high! this is hilarious, I make over $100,000 and all my credit lines combined are under $30,000. mind you, they are almost all at or near zero since I PIF every month. a 30% debt to income ratio is good enough to get a loan on buying a house but not to get graduated from wells fargo!!! can anyone believe this! 

in closing, dont ever get a wells fargo secured card.

---

It could be worse.... It could have been a capital one secured card that will never graduate under any circumstances other than capital one deciding to do it on their own when the moon is blue.

[09Lexie]

Welcome to the forum! I assume WF has your current income information. If so, I guess you'll be getting your $300 back.

[slap_happy]

thanks, they are very aware of my financial, the problem is I have 4 years of history with them, I dont want to close the account, I would say the history is more important to me, its just amazing that they have not graduated this account.

[gen-specific]

apply for a different wells fargo credit card and you will likely be approved

the secured one has its own conditions.

[slap_happy]

I understand but in all reality, I should not need to apply for a new card, I dont need the HP and I have 42 months of credit history with them, if they dont want to graduate me why should they give me another card! 

[Brusilov]

I had mine for 4.5 years and they never graduated, despite an absolutely spotless CR in all of that time.  When I called all they would ever say is that I'm welcome to apply for an unsecured card separately or wait for a possible review for graduation that happens 2x/annually.  I ended up just closing the card because I'd already moved on establishing lines with other banks.  I have no real desire to do business with them again especially considering their lackluster banking products.

[09Lexie]

Not sure what you mean by lose the history. A closed account may stay up to 10 years on your CR's.

[Brusilov]

---

@slap_happy wrote:

I understand but in all reality, I should not need to apply for a new card, I dont need the HP and I have 42 months of credit history with them, if they dont want to graduate me why should they give me another card! 

---

I'm just curious but do you use WF checkings/savings?  I got my card initially while I did, but then transfered all banking to NFCU.  I'm wondering if this perhaps factored into their decision.

[slap_happy]

you are right, but Id rather just use it and buy a few cups of coffee with it every month and just continue to have a perfect history. instead of closing it, id rather it be open and have a 5, 6, 7 year and so on history instead of just a closed account. if im wrong let me know, im always interested in a better idea, am I doing right?