I am so irritated with Wells Fargo. DH has had a visa card with WF for 3.5 years now with a $1,500 limit. DH has NO debt, except that we just got a mortgage (that hasn't hit the credit report yet), and his scores are ALL above 800 (pulled by morgage company) with no negatives. DH has one other Visa card, and is an AU on my AMEX (which has a 0 balance). DH called for a credit limit increase (the first time he has ever made this request), because he uses his card a lot for business, and WF told him they would only increase the limit to $2,300. $800 increase?! No debt other than a mortage, an 800+ credit rating and only an $800 CL increase? Is this the way of the credit world?
Time to look for a better creditor.
I agree. I am not too experienced here, but I have not heard of many members with big CLs from Wells Fargo. Many banks are being very conservative with CLs and CLI requests. I would definitely advise your husband to look into Citi, Chase or AMEX if he wants to deal with better companies that are known for being generous to their good customers.
Yep-that's Wells Fargo for ya-just do what I did-sock drawer the WF Visa(OK- I have a $5.99 monthly subscription auto charged)-take your 800 credit score and 0 debt and get a REAL CC w/ a REAL limit that you deserve-AMEX,CHASE,CITIBANK all over 10k NFCU,PEN FED over 20k.
I'm in the exact same position you are. I've had my WF Plat. Visa for 5 years. It was my very first card and I called for a CLI 2 months ago. They gave me a $600 CLI after being a loyal customer for 5 years! I sockdrawered them awhile ago because WF does not show their clients that they appreciate their business and they obviously do not show that they want to grow with you.
I moved over to Chase at the beginning of this year and my relationship with them has been phenomenal! They take care of all my deposit account needs and have been great on the credit side as well with my loans and lines. In fact, I just got a $1000 CLI on my Freedom recently...how about that? Rewarding your customers for bringing their business to you.
Definitely think about what the above folks have said about having a card with Chase, Amex, or Citi...and sockdrawer Wells...you won't regret it.
Wells services my mortgage, and keep soliciting me for the Home Rebate Visa. I've heard they are super conservative, so i'll pass. As others above have said, go with another lender. He shouldn't have any problem getting a card with good rewards and credit lines.
You all are right. We need to move on from WF. I was just hoping to wait a year or so (since we just got a mortgage) before DH applied for more credit. As an aside, just the other day- out of the blue- I got an email from AMEX telling me that they are raising my limit on my Optima from $19K to $23K.
i opened my wells fargo in august of 2006. it is my oldest open major credit card. i started out at 3000. i have received two cli's from that i have requested from them. the first one was septmember 2010. they gave me a 900 dollar increase. i asked the csr that granted me the increase if this was average or above average. she told me my credit increase approval was actually above average. then i requested an increase again in april 2011, and they once again granted my increase by 1200 which was way above average to 5100 where it is now obviously. i enjoy having this account as they have allowed me to use it through bill pay as if it were a bank line of credit rather than a credit card. i can cut someone a check up to my full credit line and i am only charged purchase interest the moment the check is mailed.
they have also recommended (pre approved) me for an actual line of credit. but i am hesitant because i want my credit file to improve first allowing accounts to mature a little and most of all allow for inquiries to drop first. second of all, their offer i believe may include a 25 dollar annual fee. the interest rate i believe may be between 8.5 to 10.5 percent apr.
I've had a Wells Visa for about 1.5 years. Limit started out at $4,500. It's gotten two CLIs, both $700 a piece.
So now it awkwardly sits at $5,900.
I only got it because a girl I was "seeing" at the time worked at Wells... She ditched me for a teller at her branch, and all I got was this lousy Wells Fargo credit card.