Well this is my first post here, but I finally feel like I have enough courage!! I have been reading MyFico for about two years now, and like most others say about this website, wow, what a wealth of information. I cannot believe everything I have learned here. When I first started coming here, my credit scores were in the high 400's and I am proud to say my scores range from 621 Equifax, 686 Transunion and I'm not quite sure what my Experian is. Anyways, just wanted to let you guys all know that we decided to join a credit union about three weeks ago.
We were previously with Wells Fargo, and had been for the last three years or so. For the last 24 months, I have had a secured card with Wells Fargo, because I learned on here that is one of the best ways to build credit without the horrible fees usually associated with banks like First Premier and such. I really liked my credit card with Wells, but I called them about three weeks ago to ask why it wouldn't unsecured after all this time, and they told me it was because of all the new credit card laws. They said that they are not unsecuring any credit cards for now and not until all the dust settles from the new rules and regulations. They told my I could re-apply. I told them that they could close my account and send me my money back. I usually don't make such rash decisions, especially knowing that it could hurt my score by closing the card, but I have to say I felt so liberated!!!! I will not sit around waiting for some "big bank" to tell me when I am good enough!! After all, I went through all the motions like they wanted me to, no late's, always paid on time, never went over my credit limit, etc. I know that Wells Fargo didn't care either way that I closed it, but DW and I could not be happier.
Like I said, we joined a local credit union, and during the process they had to pull a credit report. They pulled transunion (score 686). Since they had already pulled the credit report, I asked them if by chance we qualified for any other products. It turns out we did. They refinanced both of our auto loans, one of which was with Wells Fargo at %17.24, and one that was with Ford Credit that was at %12.99, the new interest rates on both new auto loans is %6.24. They also opened up a new credit card for each of us with $1000 starter limits (unsecured, hip, hip, hooray!!!). And they really did treat us like we were actual people, which both DW and I both loved. I can never see us dealing with the big banks again. Wells Fargo has great customer service, and they are very conservative and all, but just turned out not to be the bank for us. Thanks for listening you guys, I love this website, and will continue learning from it. See ya.
