Wells Fargo Still Doing Pre-Quals

[Anonymous]

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@Anonymous wrote:

Indeed they are a horrible company, well that's true for all banks though. I'm stuck with Wells Fargo because I have set up direct payment with my employer and closing my oldest credit card would negatively affect my score. If I could close my credit card account I would close my checking and savings account. The only reason why I opened a checking account with them was because at the time, during college, I was receiving transfers and checks from a financial sponsor. In a few years when I have a good established credit with other banks I will do away with Wells Fargo.

It's stupid they still haven't offered me anything, my secured credit card is still a secured credit card after almost two years.... they never offered to increase my credit limit. Not to mention they could have taken my information to open fake accounts. I hope there's a class action lawsuit against Wells Fargo. The least they could do is apologize to their customers, but no one has reached out to me...

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There is always the option to change your direct deposit. All it takes is one form and a week or two of your life depending on your pay frequency. You don't have to close your oldest credit card either if you don't want to. You can still make payments to your WF Credit Card from another checking account. 

Sure you may have to build a relationship with the next financial institution, but you're better off starting now rather than waiting because you're wasting precious days by procrastinating against it. Personally, I think a credit union would be a better fit for you since they're more into the whole "relationship" thing, where a huge bank like Wells Fargo couldn't care less about how tight you are with them as long as their stockholders get money. 

Private message me and I can give you some good institutions you can build a relationship with and reasons why. 

[Anonymous]

UncleB, do you currently have any Wells Fargo cards?

[UncleB]

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@Anonymous wrote:
UncleB, do you currently have any Wells Fargo cards?

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No, I applied three years ago at the beginning of my rebuild, and they turned me down. 

I've had a mortgage with them in the past, and I've had a checking account for 10+ years.  FWIW I lost my home to foreclosure while Wells Fargo was holding the mortgage - so I've had my differences with them as well - but my checking relationship with them, which started as Wachovia, has been positive. (Foreclosure was in 2007)

Right now I already have two cards on a 0% promo, so there's little need for me to add another (and I already have the categories of the Propel covered by other cards). 

I know others have their differences with Wells Fargo right now - and rightfully so, especially with the recent disclosures - but for me they have worked out well.  My local branches are formerly Wachovia, and I've mentioned before how that might make a difference in my experience compared to others, since in my region Wachovia was known for good customer service.

[Anonymous]

Thanks UncleB for sharing this information with us and your experience with them! 

[JustBPatient]

I will add to UncleB's assessment that I have banked with them for over 10 years and have a CC with them.  CC's are not their strength, but they have been decent to me whenever I have dealt with them.  With that said, I have recently moved my banking to other Banks/CU's.