Worry has turned into anger.

[FixMyCredit1992]

I filled out an application for a WF secured credit card and was told they needed to verify a few peices of information, but didn't really mention anything specific. I gave it a few days and nothing happened, so I went to the local branch and had a banker fill one out.

The banker said I was supposed to hear back either last night or this morning, I did not.

So I called WF's credit department. It turns out the 1st app was declined due to lack of funding, they said the system tried to take it out of the wrong account. So I asked about the app I filled out with the banker, they said it would take 3-5 days for the app to approve or decline. I told them the banker said it would take 24 hours or less, and they said that wasn't true. 

So now did I not only wait 3 days on the 1st app, I now have to wait 3-5 days on the 1st app, and another 7-10 days for the card to come if approved.

I'm seriously debating taking my money to a bank that cares. This process should NOT take 2 weeks, and I want to get a head start on a second trade line. 

[longtimelurker]

I understand the annoyance, but "a bank that cares"?  You are talking about funding a secured credit card, the bank isn't going to be making a lot of money out of you for some while.  So in the scheme of "customers we must make happy" you are probably not on the radar yet.

[Charmlessman]

Its too bad that this happens but almost all banks take their time. I was going to suggest Cap 1 for secured card but it took over 2 weeks for my card to get home. Good news is that once you get with Amex and Chase things speed up. Be patient , we all know thats a virtue needed in this game.

[Swapmeet]

This credit game is a marathon, not a sprint. I know it is hard and banks make you jump through hoops sometimes, but try and be patient. There is only so much red tape before you are cruisin along in your credit journey...

[MACFRME]

Seriously. Go to a credit union. Their reason for existence is to help the consumer, not themselves, because they are nonprofits. USAA pisses me off because they have a commercial where a woman says, "I don't do banks, I do USAA banking..," which implies that they are not a bank, when in fact they are. It is always crucial to know who really has your back when it comes to your money. I have cards with the big banks because I make money off of them via rewards. BUT, my deposits always go to my local credit union.

[Themanwhocan]

Consider that its the middle of a 4 day holiday weekend. And its also the end of a month.

So, things may take some time.

[todd99]

Both of my recent secured cards took two weeks to process. I too got the "need to validate information" letter which I had to send in forms and copy of ID. Be patient, the two weeks will go by fast eough. Sucks that they tried to take the money out of the wrong account though. Best of luck and hope you get your card.

[mt2va]

Secured credit cards just take time.  I have 3 and the last one took the longest even though it was my 2nd secured card with the same lender. 

[Uborrow-Upay]

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@MACFRME wrote:
Seriously. Go to a credit union. Their reason for existence is to help the consumer, not themselves, because they are nonprofits. USAA pisses me off because they have a commercial where a woman says, "I don't do banks, I do USAA banking..," which implies that they are not a bank, when in fact they are. It is always crucial to know who really has your back when it comes to your money. I have cards with the big banks because I make money off of them via rewards. BUT, my deposits always go to my local credit union.

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+1

Well said.  You don't post a lot, but when you do, it's worth reading.

Uborrow-Upay

[Anonymous]

In the recent past, Wells Fargo had a good Secured Card with graduation in one year. Of late, reporters are finding extended graduation dates or none. Citi and Bank of America have had good secured cards with Citi taking 18 months for graduation and Bank America 6 to 12 months. Something is going on with secured cards market as Citi's is now available by phone and USAA will issue them but no graduation so what is going on is like shooting pin ball. Good luck with your challenge. Why did Wells Fargo try to fund your secured card out of the wrong account? In my recent past I had Wells Fargo for my checking, savings, investments, insurances, loans, credit cards, CDs and they changed so I moved 100% of my business and broke it up between banks and insurance companies so no one financial institution could decide what I was going to do!!!