Wells Fargo - Invitation to Graduate.

[voidman]

I got my first card from wells Fargo as a secured card for 1k last November, Managing the card was simple no problem. Yesterday I got a letter from WF acknowledging my good usage of the card and it's an invite to graduat to unsecured card with 1500 CL.

Some questions about WF Secured card. 

Is Invitation Guaranteed to get the unsecured card? In the letter no where I saw that it is subject to credit approval, similar to what we see for pre-approvals.Will there be an inquiry?

WF Letter says that they will close this account and open a new one with new number, does that mean I will lose the history on this card? This is my first so oldest, I would prefer not to loose any history from this card. 

Thanks in advance

[Anonymous]

yes it will be a hard

yes it will be a new acct 

your secured account should show for 10 years after closure

congrats on your unsecured line

[voidman]

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@Anonymous wrote:

yes it will be a hard

yes it will be a new acct 

your secured account should show for 10 years after closure

congrats on your unsecured line

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Thanks Lou, 

That sucks, I thought it would be a smooth without closing or an inquire, Yeah I know it will show for 10 years but humm anyway, i guess getting my $$s back is better than loosing few points. 

[CreditDrama85]

it will be a new account but the date will be the date the secured card was open. so you technically have a new tradeline but it will show open from the original date and the old one will be closed.

[Anonymous]

thats great news

[voidman]

Thanks guys, I will accept the graduation..

Another question, since the account will be a "new" account backdated to Nov'07 Still I guess the new account will tank the fico points by 20 odd points.