WF sudden credit limit decrease out of the blue

[Jason08]

Does Wells Fargo have some "customer has a 'maximum' total credit available" no matter the number of cards? Like, maybe WF only wants a customer to have so much credit no matter the number of cards?

I have had a WF CC for a couple decades now. Never used it, just one of the first cards I got back in the day, so I keep it for credit length purposes. Had a 7500 Limit for as long as I could remember.  Also currently have great credit (800+), never carry balances, etc.  Only total 3 cards (until couple days ago) that I have had open for years (most recent opened card was the citi costco card when Costco moved to Citi)

Applied and got the WF Active Cash card for the SUB and 2% (would be my 2nd WF card, 4th card open overall). Got a slightly bigger than expected credit limit compared to my other cards, but whatever, in general I don't care too much since I never carry balances, etc. But then now a couple days after opening, WF decided to lower the limit on my original WF card from 7500 to 1000.

Not sure on the reasoning. Called in, and all they would say is the customer agreement spiel "we have the right to make changes based on internal and external factors" and then said to wait for the letter in the mail. Then asked if I wanted to request an increase (uh, really?).  But this change just seemed out of the blue, sans me getting a new WF card.  Never really had a CL decrease before, so not sure what to expect or why the decrease.  Haven't had any bad events to my credit (missed payments, etc) outside of opening a new CC (but that is with the same issuer, and gave me a good limit, and is only a small hit on credit?).  

[CreditCuriosity]

"I have had a WF CC for a couple decades now. Never used it, just one of the first cards I got back in the day, so I keep it for credit length purposes"

Answer is bolded.  If never used it and just keep it they aren't making any type of money off you by swipe fees or interest.   So since not being used they would normally close it or reduce you credit limit.  I think you have your answer if I understood your statement correctly.

[Jason08]

dang, if that's the case, took them 20+ years to decrease the limit for non-use. oh well I guess

[pizzadude]

I agree it's probably the non-use that triggered the CLD, although the timing is probably not related to anything you did ( or didn't ) do other than sock drawering, I'm guessing it's just a WF machine based decision driven by tightening credit conditions across the board. 

[jj10939]

In the terms and conditions of the application, it states if you have a Wells Fargo card you haven't used in 6+ months, and apply for another card, they may reallocate your CL with your current card to open the new account. That's likely what occurred if you haven't used your previous card. 

[FlaDude]

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@jj10939 wrote:

In the terms and conditions of the application, it states if you have a Wells Fargo card you haven't used in 6+ months, and apply for another card, they may reallocate your CL with your current card to open the new account. That's likely what occurred if you haven't used your previous card. 

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Never had a WF card (and no desire to do business with them ever), but I've had Amex and Chase both do this in the past. Amex without asking, Chase gave me the option to determine which card to allocate from.

[NoMoreE46]

From WF's perspective, you got an overall credit increase (with that new card.)

What is the SL on your Active Cash?

[Jason08]

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@jj10939 wrote:

In the terms and conditions of the application, it states if you have a Wells Fargo card you haven't used in 6+ months, and apply for another card, they may reallocate your CL with your current card to open the new account. That's likely what occurred if you haven't used your previous card. 

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Ahh, ok.  Makes sense.  Didn't really read the fine print when applying

From WF's perspective, you got an overall credit increase (with that new card.)

What is the SL on your Active Cash?

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Only 10.5k  

[NoMoreE46]

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@Jason08 wrote:

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@jj10939 wrote:

In the terms and conditions of the application, it states if you have a Wells Fargo card you haven't used in 6+ months, and apply for another card, they may reallocate your CL with your current card to open the new account. That's likely what occurred if you haven't used your previous card. 

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Ahh, ok.  Makes sense.  Didn't really read the fine print when applying

From WF's perspective, you got an overall credit increase (with that new card.)

What is the SL on your Active Cash?

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Only 10.5k  

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Despite having $6,500 yoinked from the first card, Think of this as a $4,000 upside with WF.

[Anonymous]

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@jj10939 wrote:

In the terms and conditions of the application, it states if you have a Wells Fargo card you haven't used in 6+ months, and apply for another card, they may reallocate your CL with your current card to open the new account. That's likely what occurred if you haven't used your previous card. 

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Wow, that's pretty specific!  I know other issuers do this, but I haven't seen it spelt out (although to be fair, I wasn't looking very hard)