topic Re: Wells Fargo Closed My Credit Card in Credit Cards

Wells Fargo Closed My Credit Card

Anonymous — Fri, 29 Jan 2016 15:37:32 GMT

So Wells Fargo closed my Credit Card apparently because I Logged in online and i see that credit card has disapeared off of my account view..

Tried to used it and it was declined. So i'm guessing it got closed..

Haven't received anything it the mail regarding my credit card account.

It was my first credit card :/

Re: Wells Fargo Closed My Credit Card

azguy13 — Fri, 29 Jan 2016 15:39:42 GMT

I'm sorry to hear that. I do not know too much about WF credit cards (not very many folks on the forum have one). I would personally wait for the letter then call for Recon. Have you changed up your spending habits lately, carried a high balance for a long period, or made minimum payments for a number of months in a row?

Re: Wells Fargo Closed My Credit Card

takeshi74 — Fri, 29 Jan 2016 15:41:59 GMT

Is it your only card? Doesn't seem like it from the total in your sig. If not, why are you worried about it? See the Closing Credit Cards thread linked in the Helpful Thread sticky.

Have you called to see why they closed it? If due to inactivity then you need to make sure you understand each of your creditor's policies on closure due to inactivity and ensure that you meet at least the minimum requirement if you want to keep your cards open.

If it's AA then it would depend on your credit profile including recent activity.

Re: Wells Fargo Closed My Credit Card

Anonymous — Fri, 29 Jan 2016 15:40:56 GMT

Haven't used it?

side note: I keep my first rebuilder with my monthly Netflix charge to keep it active.

Re: Wells Fargo Closed My Credit Card

ddemari — Fri, 29 Jan 2016 16:04:28 GMT

call them up about it? maybe its closed to due suspicious activity. boa does it all the time.

Re: Wells Fargo Closed My Credit Card

Anonymous — Fri, 29 Jan 2016 16:06:51 GMT

I'd go to a branch ASAP. Time for a face-to-face to understand what is going on.

Good luck!

Re: Wells Fargo Closed My Credit Card

Anonymous — Fri, 29 Jan 2016 16:21:07 GMT

Nothing much in my credit profile that changed over the past year except a few new accounts and inquires..

I never carried a balance on this card always paid in full on this account because of high apr, although carrried a balance on other 0% apr cards. Total utilization around 3% on busy months..

Last time i used this card was about 7 months ago.. So maybe it was closed due to innactivity although i had years of not using it before,

Ill call on my lunch today at work..

Anyone know the policy on re opening closed accounts with wells?

Re: Wells Fargo Closed My Credit Card

azguy13 — Fri, 29 Jan 2016 16:43:26 GMT

@Anonymous wrote:
Nothing much in my credit profile that changed over the past year except a few new accounts and inquires..
I never carried a balance on this card always paid in full on this account because of high apr, although carrried a balance on other 0% apr cards. Total utilization around 3% on busy months..
Last time i used this card was about 7 months ago.. So maybe it was closed due to innactivity although i had years of not using it before,
Ill call on my lunch today at work..
Anyone know the policy on re opening closed accounts with wells?

Good luck and keep us updated. A lot of the time, CSR's will tell you to wait for the letter.

Re: Wells Fargo Closed My Credit Card

ScoreOrBeScored — Fri, 29 Jan 2016 19:34:53 GMT

You should call them up and thank them..... Because they did you a huge favor. IJS

Re: Wells Fargo Closed My Credit Card

Anonymous — Fri, 29 Jan 2016 19:44:56 GMT

@ScoreOrBeScored wrote:
You should call them up and thank them..... Because they did you a huge favor. IJS

+1 If you dont use it anyway I would say good riddens.

Re: Wells Fargo Closed My Credit Card

baller4life — Fri, 29 Jan 2016 19:54:06 GMT

@ScoreOrBeScored wrote:
You should call them up and thank them..... Because they did you a huge favor. IJS

Re: Wells Fargo Closed My Credit Card

Anonymous — Sun, 31 Jan 2016 08:26:05 GMT

Sorry for the late update, so it turns out they closed it for lack of activity, i guess making a 10 dollar purchase once every 8 months just wasnt cutting it for them lol

sucks my first account was closed by the bank, but oh well, it was my lowest limit of 2,200 anyway.

I asked the CSR on the phone if we can reopen the account and she said no, that i can apply for a new card, i thought to myself why on earth would i app for a new account with them if i haven't used the one i had at all and it got closed lol.

Do you guys think a superviser or a manager or whoever in charge in that department would be able to reopen a closed account?

Re: Wells Fargo Closed My Credit Card

creditguy — Sun, 31 Jan 2016 08:48:27 GMT

@Anonymous wrote:
Sorry for the late update, so it turns out they closed it for lack of activity, i guess making a 10 dollar purchase once every 8 months just wasnt cutting it for them lol
sucks my first account was closed by the bank, but oh well, it was my lowest limit of 2,200 anyway.
I asked the CSR on the phone if we can reopen the account and she said no, that i can apply for a new card, i thought to myself why on earth would i app for a new account with them if i haven't used the one i had at all and it got closed lol.

Do you guys think a superviser or a manager or whoever in charge in that department would be able to reopen a closed account?

About 99.9% sure that's a no. Once they close an account, it's closed. The good news is, it means absolutely nothing to you, your CR or scores. There seems to be this self precieved stigma associated with closed by grantor/creditor/bank etc. but it's totally overblown. That card is not even a drop in your bucket and it's one less thing to worry about putting $10 on once a year. Good riddance I say.

Re: Wells Fargo Closed My Credit Card

Anonymous — Sun, 31 Jan 2016 14:23:45 GMT

@creditguy wrote:
@Anonymous wrote:
Sorry for the late update, so it turns out they closed it for lack of activity, i guess making a 10 dollar purchase once every 8 months just wasnt cutting it for them lol
sucks my first account was closed by the bank, but oh well, it was my lowest limit of 2,200 anyway.
I asked the CSR on the phone if we can reopen the account and she said no, that i can apply for a new card, i thought to myself why on earth would i app for a new account with them if i haven't used the one i had at all and it got closed lol.

Do you guys think a superviser or a manager or whoever in charge in that department would be able to reopen a closed account?
About 99.9% sure that's a no. Once they close an account, it's closed. The good news is, it means absolutely nothing to you, your CR or scores. There seems to be this self precieved stigma associated with closed by grantor/creditor/bank etc. but it's totally overblown. That card is not even a drop in your bucket and it's one less thing to worry about putting $10 on once a year. Good riddance I say.

It's hard/sad to close a first account (if it's not a predatory one) but at least it'll stay on your report for 10 years (can you tell I'm trying to talk myself into closing a card or two?)

Re: Wells Fargo Closed My Credit Card

Thomas_Thumb — Sun, 31 Jan 2016 14:46:25 GMT

@Anonymous wrote:
Sorry for the late update, so it turns out they closed it for lack of activity, i guess making a 10 dollar purchase once every 8 months just wasnt cutting it for them lol
sucks my first account was closed by the bank, but oh well, it was my lowest limit of 2,200 anyway.
I asked the CSR on the phone if we can reopen the account and she said no, that i can apply for a new card, i thought to myself why on earth would i app for a new account with them if i haven't used the one i had at all and it got closed lol.

Do you guys think a superviser or a manager or whoever in charge in that department would be able to reopen a closed account?

Wow -I'm shocked! Closure with only 8 months of inactivity.

I always thought cards were safe from closure due to inactivity if used at less than 12 month intervals and safe from an CLD AA if inactivity was kept below 6 months..

Thanks for the update.

Re: Wells Fargo Closed My Credit Card

manyquestions — Sun, 31 Jan 2016 17:06:33 GMT

Going to use my WF card now...:

Re: Wells Fargo Closed My Credit Card

degs138 — Sun, 31 Jan 2016 18:22:04 GMT

I have a wf. I'd like to keep it open to help aaoa. I'm going to put sind some spend on it this month

Re: Wells Fargo Closed My Credit Card

Anonymous — Sun, 31 Jan 2016 18:29:31 GMT

@Thomas_Thumb wrote:
@Anonymous wrote:
Sorry for the late update, so it turns out they closed it for lack of activity, i guess making a 10 dollar purchase once every 8 months just wasnt cutting it for them lol
sucks my first account was closed by the bank, but oh well, it was my lowest limit of 2,200 anyway.
I asked the CSR on the phone if we can reopen the account and she said no, that i can apply for a new card, i thought to myself why on earth would i app for a new account with them if i haven't used the one i had at all and it got closed lol.

Do you guys think a superviser or a manager or whoever in charge in that department would be able to reopen a closed account?
Wow -I'm shocked! Closure with only 8 months of inactivity.

I always thought cards were safe from closure due to inactivity if used at less than 12 month intervals and safe from an CLD AA if inactivity was kept below 6 months..

Thanks for the update.

Same. 8 months of inactivity seems way too little for them to close it. I know people who haven't touched their cards for years and I mean YEARS and their account is still open. I guess it varies....every situation is different.

Re: Wells Fargo Closed My Credit Card

Anonymous — Sun, 31 Jan 2016 18:44:19 GMT

@Thomas_Thumb wrote:
@Anonymous wrote:
Sorry for the late update, so it turns out they closed it for lack of activity, i guess making a 10 dollar purchase once every 8 months just wasnt cutting it for them lol
sucks my first account was closed by the bank, but oh well, it was my lowest limit of 2,200 anyway.
I asked the CSR on the phone if we can reopen the account and she said no, that i can apply for a new card, i thought to myself why on earth would i app for a new account with them if i haven't used the one i had at all and it got closed lol.

Do you guys think a superviser or a manager or whoever in charge in that department would be able to reopen a closed account?
Wow -I'm shocked! Closure with only 8 months of inactivity.

I always thought cards were safe from closure due to inactivity if used at less than 12 month intervals and safe from an CLD AA if inactivity was kept below 6 months..

Thanks for the update.

I was definitely never going to close the account myself since its my oldest one and first one, but since they closed it, i guess it was meant to be. All of my other cards are over 5k limit and some are way over 10k. So the drop in available credit wont make a difference and since it'll stay on my report for another 10 years, i won't loose my AAOA.

Wells fargo used to be my main bank back in the day, but then i swithced to Chase and all my money/Activity is with them, so maybe 5 other accounts with wells fargo that i have that i never use except the occasional transfer to keep them alive with a balace of under 20 bucks might have made then unhappy too haha.

I'm just glad that the innactivity was the reason and not someting serious that a bank possibly picked up on that gave me a mini heart attack, and now that we know wells fargo will do such a thing, atleast my situation will help everyone else who is reading this and has a wells fargo card, that this bank requires a little bit of use to prevent closure.

Re: Wells Fargo Closed My Credit Card

Anonymous — Sun, 31 Jan 2016 18:56:18 GMT

I'm not surprised that the account was closed after 8 months of inactivity. Some issuers are more trigger-happy than others, and even banks that send "use it or else" warnings to some customers don't send them to others.