Wells Fargo denied my credit card application but offered me a Secured Card. They said it was a good way to build credit. I gave them $800 to open the account and never have had a late in 2 years. The plan was to ask for an increase in credit through them and therefore increasing my FICO. I did this with several other cards with success.
I tried to get an increase through Wells Fargo and the told me I would have to deposit more money for an increase. They told me that I would have to re-apply for a regular credit card to receive real credit. I told them to cancel my account because I was paying them interest on my own money and not receiving and positive on my credit. They told me I would have to pay the entire amount off to be able to cancel the card, once I paid the balance of my own money, they would send it back to me in 2 weeks.
So, until I can afford to pay $800 of my own money to the bank, they are charging me a monthly service fee and wont cancel my account. Stay away from wells fargo! They rip off their customer
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