How do WF secured-to-unsecured cards show on credit report?

[money_talks]

I spoke to WF customer service and they said when graduated, they give you a new CC number and it shows up on your credit report as of the date you opened the unsecured.

I called Equifax and they said WF can report what they want. Why doesn't WF simply swap credit card numbers so the old secured opening date and payment history is retained? From what I read, BOA does this with secured cards.

I applied for a secured card last week and they already took my deposit out of my checking.

[dondilio]

Hi!

My WF recently graduated and I can tell you from experience the new TL keeps the original date you opened the secured card as well as all the payment history. They simply update the information to show the new account number and remove the Secured Card remarks. Hope this helps and best of luck in your road to secured card graduation with WF. 

[money_talks]

So your credit report shows no entry for the old secured card? I only spoke to one person from WF customer service, so they must not know what they're talking about.

So it sounds like it looks like this:

Account: CC number of unsecured

Date Opened: Date of when secured card was opened

Payment history: Includes payment history of secured card

Does that look right? Also, how long did it take you to graduate?

Thanks!

[HiLine]

Once a secured card has graduated, it leaves no traces of ever being secured.

[dondilio]

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@money_talks wrote:

So your credit report shows no entry for the old secured card? I only spoke to one person from WF customer service, so they must not know what they're talking about.

So it sounds like it looks like this:

Account: CC number of unsecured

Date Opened: Date of when secured card was opened

Payment history: Includes payment history of secured card

Does that look right? Also, how long did it take you to graduate?

Thanks!

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Yes that is correct money_talks. Once it graduates all Remarks mentioning secure card dissappear. To give you an idea it took 45 days after I received the graduation letter for it to graduate (a new account showed in online banking). After I activated the new card the secured card balance, credit line outstanding balance information, etc were transfered to the new Visa Account. The credit report information was updated the next billing cycle after I received and activated the new card .

Heres my Secured card timeline: 10/2011 got secured card -->2012 made additional deposits throughout the year and brought up CL to 1k---> 6/15/2013 Received Graduation Letter ---> 8/1/2013 New Visa Account in Online Banking---> 8/4/2013 CR Info updated 

[money_talks]

Thanks all. I was going to regret opening the WF secured if the secured history would not transfer.

So a couple months after graduating, someone looking at your credit report will not be able to know if you ever had a secured card from WF? Just want to make sure.

[HiLine]

Now the issue is whether the card will graduate at all....

[enharu]

@money_talks, that is true. creditors who had no prior relationship with you shouldn't know. Current creditors would know because they already have copies of your CR on file, through both soft and hard inquiries. That being said, this is just a really minor detail and you don't have to worry about it.

Getting unsecured by Wells Fargo is probably the hardest part.

[Brusilov]

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@HiLine wrote:

Now the issue is whether the card will graduate at all....

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As someone who had the card for over 4 years without it graduating...yeah.  

[enharu]

@brusilov, have you tried talking to a banker in the branch about this yet? Usually they can speak directly to the underwriters to help find out about why your card has yet to be unsecured.