Reply
Senior Contributor
Posts: 4,635
Registered: ‎03-11-2007
0

Offered Loans From Wells Fargo

Tried to get a $15K personal LOC with Wells Fargo Bank at 12%. Denied.
 
But, they refered us to Wells Fargo Financial and they approved DW and I.
  • $7K installment loan (14.74% at $181 a month) on our free and clear 2000 Saturn
  • $5K personal LOC at 18.9% (only pay on what we withdrawal, and no BT fees)
  • $3K CC at 19 something % APR (already have one Wells Fargo CC, $4K at about 23% with 1-9 util)

Thought about trying a CU, but with the paying on collection from Penfed CU, it seems that all CUs have us blacklisted and filed in their "We Hate You" 3x5 card box.

 

Planning to use the $7K to PIF my old defaulted AMEX, and get back in their good graces. Then try to PFD the paying on collection--unless I can get 'em on a DV violation. Still researching it, but I think I'm gonna go ahead and talk with a lawyer. I'd rather pay a retainer than a PFD.

 

Tentatively planning to go sign the paperwork tomorrow on the loans. Gonna talk with DW and sleep on it.

 

Established Member
Posts: 11
Registered: ‎06-25-2007
0

Re: Offered Loans From Wells Fargo

Hi Noah,
 
What are your ficos?  Do you think it helped to get all 3 at the same time?
Senior Contributor
Posts: 4,635
Registered: ‎03-11-2007
0

Re: Offered Loans From Wells Fargo

EQ is 595 today and was 593 on 5/10. EX was 582 on 5/10, TU was 634 on 5/10. EX and TU are probably within 5 to 10 points either way of what they were on 5/10. These are FICOs not FAKOs.
 
After WF Bank said no, I talked to someone at WF Financial, they confirmed info, then said they'd see what they could do. They came up with the 3 loan offer.
 
Told 'em I wanted to PIF the collection plus PIF about $1K in CC debt, and keep the rest as a reserve as we wanted to get in a house in the near future. Wanted the reserve in case a water heat blew or something. Figured that might wet their appetite in the hopes of me getting a mortgage with 'em soon.
 
Guy at WFF seemed to know what he was talking about. Said I had a good installment payment history (2 vehicles thru GMAC) and that installment debt was better than revolving.
Moderator Emeritus
Posts: 6,182
Registered: ‎03-29-2007
0

Re: Offered Loans From Wells Fargo

[ Edited ]
I have a very good contact at WFF if you ever need it. :smileyhappy:


Message Edited by Tuscani on 07-20-2007 03:53 PM
Established Member
Posts: 34
Registered: ‎05-10-2007
0

Re: Offered Loans From Wells Fargo

Does Wells Fargo report the total amount due including finance charge to CB's or just the balance? 
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.