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New Member
bbking35
Posts: 4
Registered: ‎11-11-2007
0

Wells Fargo CLR

Got an email yesterday that my Credit Line was under $1000...odd since its over $21000 and nothing on it. Check online and yep they reduced it too $750. Called Wells and they said it was reduced because of info on my Experian CR, he reads off LONG list of reasons(mostly over all credit usage high, usage on cards too high etc) and I say uhuh my scores last I checked were in the 790 range check it again so he does(hard pull, grrrr) and said your right the data in the report is prefectly fine but the FACTORS listed are not right. I got my line restored and he sugested I pull experian since it could happen again. I did(their score had me at 749) and all it had on my pull factors wise was one card near maxed(0% offer) and high number of inquries(12...half nearly 2 yearts old) so I have no idea what happened. But be forwarned...Im betting even a temporary high usage of credit will be used as an excuse to make your lines plummet, even if its not even true (oh my over all credit usage about 12% I think).
Senior Contributor
score_building
Posts: 3,533
Registered: ‎01-10-2008
0

Re: Wells Fargo CLR


bbking35 wrote:
Got an email yesterday that my Credit Line was under $1000...odd since its over $21000 and nothing on it. Check online and yep they reduced it too $750. Called Wells and they said it was reduced because of info on my Experian CR, he reads off LONG list of reasons(mostly over all credit usage high, usage on cards too high etc) and I say uhuh my scores last I checked were in the 790 range check it again so he does(hard pull, grrrr) and said your right the data in the report is prefectly fine but the FACTORS listed are not right. I got my line restored and he sugested I pull experian since it could happen again. I did(their score had me at 749) and all it had on my pull factors wise was one card near maxed(0% offer) and high number of inquries(12...half nearly 2 yearts old) so I have no idea what happened. But be forwarned...Im betting even a temporary high usage of credit will be used as an excuse to make your lines plummet, even if its not even true (oh my over all credit usage about 12% I think).

congrats on the restoral!

 

2 quick notes:  the EX score you pulled is a FAKO if pulled after mid-Feb this year and is not reliable.

 

the reasons on FAKO reports are to be ignored, although something like high balances it may duly note.

FICOS:
06/13 EX 765 (PSECU) EQ 771 (DCU) TU 779 (Barclays)
Established Contributor
Ulan
Posts: 790
Registered: ‎09-09-2008
0

Re: Wells Fargo CLR

All these scary news. I had to look at my WF card immediately, but nothing has happened... yet. I don't want to upset them in any way, because it's by far my oldest card.
New Member
bbking35
Posts: 4
Registered: ‎11-11-2007
0

Re: Wells Fargo CLR

Oh I know its to be ignored...but apperently Wells didnt ingnore it.:smileymad:

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