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How to GW Wells Fargo from 2012

Valued Contributor

How to GW Wells Fargo from 2012

Hi,

So my fiancée has no collections or Public Records the only adverse information showing is (3) 30 day late's from 2012-2013 someone had stolen her card and because it was a friend she opted just to pay the balance and not file a police report for the $1,500.

So from looking at her report that's the only negative information her scores are at 710 which I don't really understand because she has revolving accounts, a mortgage loan and no negative information aside from this and I thought 30 day lates only hurt you up to 2 years.

Anyways we would like to do a GW for the lates it's been years and she's still a customer with them hopefully they'll remove them. Also can anyone think of why she's only at 710? I've seen people with 1 year of history and a 730 FICO.

Her oldest TL is 16 years as an AU which is backdated to reflect that or if not then it's a 7.5 year old Wells Fargo Credit Card.
9 REPLIES
Valued Contributor

Re: How to GW Wells Fargo from 2012

Bump
Message 2 of 10
Established Contributor

Re: How to GW Wells Fargo from 2012


Matt4200 wrote:
Hi,

So my fiancée has no collections or Public Records the only adverse information showing is (3) 30 day late's from 2012-2013 someone had stolen her card and because it was a friend she opted just to pay the balance and not file a police report for the $1,500.

So from looking at her report that's the only negative information her scores are at 710 which I don't really understand because she has revolving accounts, a mortgage loan and no negative information aside from this and I thought 30 day lates only hurt you up to 2 years.

Anyways we would like to do a GW for the lates it's been years and she's still a customer with them hopefully they'll remove them. Also can anyone think of why she's only at 710? I've seen people with 1 year of history and a 730 FICO.

Her oldest TL is 16 years as an AU which is backdated to reflect that or if not then it's a 7.5 year old Wells Fargo Credit Card.

 

someone had stolen her card and because it was a friend  she opted just to pay the balance and not file a police report for the $1,500

 

* While I am NOT an Attorney, this kinds of sounds like aiding & abetting a Felony.

 

But I could be wrong.   Wonder what he statute of limitations are?

.

05/03/16 Fico 8 Scores: EQ 546, TU 501, EX 548
09/01/16 Fico 8 Scores: EQ 662, TU 628, EX 657
10/04/16 Fico 8 Scores: EQ 692, TU 665, EX 686
01/15/17 Fico 8 Scores: EQ 706, TU 670, EX 687 * all Yellow / Good
Message 3 of 10
Valued Contributor

Re: How to GW Wells Fargo from 2012

That kind of avoids the whole how to GW them question.

But to respond to you: No it's not a felony if it's your account, you just sadly take it as a loss.

Let's say there's a boyfriend and girlfriend the boyfriend beats the girlfriend regularly and she goes to the hospital to heal she isn't aiding and betting a Felony by not turning him in. She could turn him in but it definitely isn't aiding and abetting a felony to not.
Message 4 of 10
Senior Contributor

Re: How to GW Wells Fargo from 2012

30 day lates only impacting score for 2 years is a myth.  The presence of negative accounts, which an account with any sort of late payment on it is going to hold a score back.

 

As far as GW letters go, I suggest the Saturation Technique, which you can read about here:

 

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/The-Saturation-Technique-Best-GW-adjustment-o...

 

I was able to get a GW adjustment from Wells Fargo Financial after a bunch of Rounds of GW letters to them. 

Message 5 of 10
Valued Contributor

Re: How to GW Wells Fargo from 2012

So you're saying that if I do GW and it works even though these are 5 years old there should be a score bump ?
Message 6 of 10
Established Contributor

Re: How to GW Wells Fargo from 2012

OP for comparison I had a single 30 day late from Sept 2011 removed from my file last spring. FICO went from 760 to 800. No doubt the lates are dragging the score down but you did not mention revolving utilization which is a huge % of FICO score (30% off the top of my head?).
Message 7 of 10
Established Contributor

Re: How to GW Wells Fargo from 2012

Also I will second the advice of BBS about bombarding them with GW requests. In my case it was Cap One and they are notorious for not budging when it comes to reporting negatives. 4 years of sporadic letters and calls but eventually they caved. I think the amount of time that passed finally helped me out and you have that in your corner.
Message 8 of 10
Valued Contributor

Re: How to GW Wells Fargo from 2012

Chris - Thanks for the letter do you know what a good GW template is and where I would look to send it in?
Message 9 of 10
Highlighted
Established Contributor

Re: How to GW Wells Fargo from 2012

Just search for them and/or make it up as you go.
Message 10 of 10