Wells Fargo Secured Credit Card

[Anonymous]

I got this card over 3 years ago when I was trying to rebuild my credit score after a few late payments and a $1000 chargeoff that tanked my score. I was told that they review this card every now and then and most of the time it will be upgraded to a regular card. It seems for me, most was the key word. I originally opened it with $300 and used it here and there, only once in a while carrying over a balance. I haven’t put anything on it in quite some time.

So its been over 3 years, perfect payment history and it is still a secured card. I called about a year ago, and even though the guy acknowledged that is strange that it has never been upgraded, just gave me the same bs how they look at it twice a year. It’s very odd to me because earlier this year I got approved for a Chase Disney card for 7k instantly, and when I bought our house in Sept, my scores were 700-715 depending on the bureau.

Any tips on what to do about this? I almost just want to close the card and get my $300 back as a $300 credit limit isn’t really doing me much good. 

[Anonymous]

You can either close it or keep it. If its been with you 3 years you're not missing the money that bad so. I say just keep it and let it age with the rest of your file, it isn't helping nor is it hurting you but it could be helping thicken your file long term. Just my. 02. Dv

[Anonymous]

i had a secured wells fargo card as well. i had to close it and am very happy i did that card wont grow and they wont seccureit anytime soon so you have the final decision to make

[Anonymous]

If it hasn't unsecured in 3 years I would close. I've read that Well Fargo cards are very hard to unsecure. I'm glad I didn't get one.

[Anonymous]

When is the next annual coming up? My sister had closed her WF secured card this April. Then less than a month later (May) she received a letter stating they were graduating her account (after it was closed). I would wait it out before the annual fee is due.