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Update: Course reversed-Wells Fargo Tells Customers It’s Shuttering All Personal Lines Of Credit

Horseshoez
Valued Contributor

Re: Wells Fargo Tells Customers It’s Shuttering All Personal Lines Of Credit

Sorry, all old news; Wells Fargo will do perfectly well.

I categorically refuse to do AZEO!

Message 41 of 75
EW800
Valued Contributor

Re: Wells Fargo Tells Customers It’s Shuttering All Personal Lines Of Credit


@gdale6 wrote:

This combined with the cancelation of most card offerings tells me the bank is in trouble.


My opinion...   They have earned being in trouble!  

Year 2012: All Scores in the 520 range, during a foreclosure, CC Settlement and high UTIL. Very ugly days...
July 2021: EX8: 850; EQ8: 850; TU8: 850 -- Middle Mortgage Score: 824
In My Wallet: Discover $73.7K; Cap1 Venture $42.7K; Amex ED $38K; Amex Optima $2.5K; Amex Delta Gold $18K; Citi Costco $21K; Cap1 Plat $8.4K; Barclay $7K; Chase Amazon $6K; BoA Plat $21.6K; Citi TY Pref $19K; US Bank $4K; Dell $5K; Care Credit $6.5K. Total Revolving CL: $285K
My UTIL: Less than 1% - Only allow about $10 a month to report, on one account. .
Message 42 of 75
Slowlyrebuilding
Contributor

Wells Fargo not closing PLOC

Just received an email from Wells Fargo that they have reversed course and will be keeping my PLOC open...Apparently they had a lot of "feedback" from customers...

Message 43 of 75
Trudy
Valued Contributor

WF Changed Their Minds About Closing LOC

 I think I was 1st informed in June or early July of WF closing LOC.  Latest mailer dated 7/23 to remind me as of 8/23 my LOC will be close.  But just received this email.

 

 

2021-08-17_14-41-37.png

FICO - 8: 09/09/21 AU 8 BC 8
FICO - 9: 09/09/21 AU 9 BC 9
F5,F4,F2 09/09/21 AU... BC...
Vantage 09/09/21
As of 09/01/21:
AoOA - 25Y6M | AoYA – 0Y10M | AAoA – 12Y4M
Open: 11 CC: (1 reporting 2.84% : 0.25% AGG UTL) | 1 PLOC | 1 MTG loan: 46.89% UTL
Closed: 1 MTG loan | 2 Auto loans | (EQ) 2 CC, (EX & TU) 1 CC
INQ: (EQ) 0/24 | (TU) 1/24 | (EX) 1/24
Message 44 of 75
Trudy
Valued Contributor

Re: Wells Fargo Tells Customers It’s Shuttering All Personal Lines Of Credit

Posted a few minutes ago a snippet of the email I just received from WF stating they are no longer discontinuing LOC.

FICO - 8: 09/09/21 AU 8 BC 8
FICO - 9: 09/09/21 AU 9 BC 9
F5,F4,F2 09/09/21 AU... BC...
Vantage 09/09/21
As of 09/01/21:
AoOA - 25Y6M | AoYA – 0Y10M | AAoA – 12Y4M
Open: 11 CC: (1 reporting 2.84% : 0.25% AGG UTL) | 1 PLOC | 1 MTG loan: 46.89% UTL
Closed: 1 MTG loan | 2 Auto loans | (EQ) 2 CC, (EX & TU) 1 CC
INQ: (EQ) 0/24 | (TU) 1/24 | (EX) 1/24
Message 45 of 75
RickNATL
Established Contributor

Re: Wells Fargo Tells Customers It’s Shuttering All Personal Lines Of Credit

Wait, what?  They not cancelling?

Message 46 of 75
RickNATL
Established Contributor

Re: WF Changed Their Minds About Closing LOC

This is great...need to check my emails...

Message 47 of 75
Slowlyrebuilding
Contributor

Re: Wells Fargo Tells Customers It’s Shuttering All Personal Lines Of Credit

@RickNATL 
yes, they changed their minds. I received the email today saying they weren't closing it anymore 

Message 48 of 75
Jordan23ww
Valued Contributor

Re: WF Changed Their Minds About Closing LOC

Woohoo! Congratulations!!!! This is awesome for you and others like you with Wells Fargo  lines of credit? I'm happy people spoke up and swayed Wells Fargo to change their stance on this matter! 

 




Message 49 of 75
Trudy
Valued Contributor

Re: WF Changed Their Minds About Closing LOC

Yeah, I should say Thank You (Thank You) to those that spoke up because I didn't do crap....I was like, oh well.  But it is nice to have that backup. 

FICO - 8: 09/09/21 AU 8 BC 8
FICO - 9: 09/09/21 AU 9 BC 9
F5,F4,F2 09/09/21 AU... BC...
Vantage 09/09/21
As of 09/01/21:
AoOA - 25Y6M | AoYA – 0Y10M | AAoA – 12Y4M
Open: 11 CC: (1 reporting 2.84% : 0.25% AGG UTL) | 1 PLOC | 1 MTG loan: 46.89% UTL
Closed: 1 MTG loan | 2 Auto loans | (EQ) 2 CC, (EX & TU) 1 CC
INQ: (EQ) 0/24 | (TU) 1/24 | (EX) 1/24
Message 50 of 75
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