Wells Fargo Still Doing Pre-Quals

[Anonymous]

For those that don't know, the roof came crumbling down on WF over the past few weeks with the leaks of their shady business practices in the retail sector. Fake checking accounts, savings accounts, credit cards and lines of credits were opened by employees to boost their sales numbers and meet their quotas.

I would never ever do business with this Bank.

[pipeguy]

As I posted previously, WF services my mortgage (no issues at all) and recently offered a preapproval for their Cash Wise Visa. We accepted, 15 months 0% and then 16.24%. 15 months at 0% is a winner in my eyes, after that....might close it but I'll rarely turn down interest free offers, especially since I have a relationship (Mortgage) with this lender. 

On the other hand, if Comenity offered me 0% for 36 months I'd trash the offer....

[UncleB]

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@pipeguy wrote:

As I posted previously, WF services my mortgage (no issues at all) and recently offered a preapproval for their Cash Wise Visa. We accepted, 15 months 0% and then 16.24%. 15 months at 0% is a winner in my eyes, after that....might close it but I'll rarely turn down interest free offers, especially since I have a relationship (Mortgage) with this lender. 

On the other hand, if Comenity offered me 0% for 36 months I'd trash the offer....

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+1

I also once had a mortgage serviced by them, and they were flawless for me as well. 

When the time comes (i.e. my current 0% offers run out) and if I'm in need of another 0% deal and they offer me 16.24% on a pre-qual, I would take that as well. 

That's actually the same rate I have on my BBR and Chase IHG; it's not the best I've got, but like you say for 15 months it wouldn't matter anyway, and after that I could decide what to do with it.

[Ghoshida]

UncleB, with all due respect, this is not thread derailing.

On the Credit in the News subforum, I suggested (and I intend to follow it myself) that we publicly blacklist Wells Fargo as a bank. Since we don't really have any "official" power, the most that we can do is through social channels, like this.

As a community, it is our duty to inform any and every member about the absolutely horrible institution that Wells Fargo is. 

It must be remembered that by opening a single account with Wells Fargo, you are giving them enough information to open many, many accounts without your permission. Since it is being done by the bankers themselves, they may not send paper statements to you, charge you many times over for fees you never had signed up for, and can do many other horrible things which you typically think only petty thieves do.

And as a reward for such behaviour, bankers will be awarded million dollar bonuses.

So please refrain from suggesting innocent citizens to put themselves in harm's way.

[Discover2016]

When I started establishing my credit 2 years ago, I looked at the Wells credit cards and I was very tempted by their propel card. The only thing that stopped me at the time was that you needed a bank account with them to apply which I found annoying. 

[Pway]

Let us remain on topic here.  Op is referring to the credit card offer he has with Wells Fargo.

[pipeguy]

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@Ghoshida wrote:

UncleB, with all due respect, this is not thread derailing.

On the Credit in the News subforum, I suggested (and I intend to follow it myself) that we publicly blacklist Wells Fargo as a bank. Since we don't really have any "official" power, the most that we can do is through social channels, like this.

As a community, it is our duty to inform any and every member about the absolutely horrible institution that Wells Fargo is. 

It must be remembered that by opening a single account with Wells Fargo, you are giving them enough information to open many, many accounts without your permission. Since it is being done by the bankers themselves, they may not send paper statements to you, charge you many times over for fees you never had signed up for, and can do many other horrible things which you typically think only petty thieves do.

And as a reward for such behaviour, bankers will be awarded million dollar bonuses.

So please refrain from suggesting innocent citizens to put themselves in harm's way.

 *********

Bank ratings: http://www.msn.com/en-us/money/companies/the-worst-banks-in-america-wells-fargo-isnt-even-no-1/ar-BB...

Bank of America has been fined $16.65 billion: http://time.com/3153262/bank-of-america-record-16-billion-fine-mortgages-subprime-loans/

http://www.fool.com/investing/general/2014/10/01/the-complete-list-bank-of-americas-legal-fines-and....

Chase has been fined $2.0 billion: http://www.bankinfosecurity.com/chase-a-6356

why don't we just "boycott" all big bank lenders?

(sorry for the thread hijack, but please lets leave the politics out of it) 

[Anonymous]

Also if you had a checking account with them in the last year and its closed, you will still get mail offers for cards, or can call in and ask if there are any available.  No checking account open required.  The one card that is nice is the one with free phone insurance/replacement

[MsKiwi]

I've received those too but brushed them off. Didn't think I would get it.

[Anonymous]

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@creditguy wrote:

You probably already have a card and they just haven't told you yet. Gotta love those friendly Wells Fargo bankers saving customers time by opening accounts for you while saving you the time it takes to apply. 

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I was going to say the EXACT same thing, but Creditguy beat me to it.