Wells Fargo Bank
Offered Low-Rate Card, Then Credit Limit Cut 60% for Wrong Reasons

I was offered a Wells Fargo credit card with a very low interest about a year ago. When I transferred the balance to it from another card, I was told that I don't qualify for the low interest rate and was given another card with an extremely high interest (after a short intro low rate period).

They probably thought I was stuck because of the balance transfer...

When my low intro rate period ended, I got *another* card, with the low interest I was originally looking for (so, my credit was good enough to qualify to begin with), and had transferred the balance again, off the Wells Fargo card - no harm done. The Wells Fargo card stayed at $0 - I didn't use it because of the ridiculous rate...

A couple of days ago, I get a letter stating that my WF card limit was lowered by 60%, and listing the reasons for it - among them, that too many of my other accounts are delinquent, according to the Experian credit report.

I blew my top off! I *do* have an Experian credit report account, and was able to check it immediately - and it still shows the truth, that I wasn't even late on any of my bills since 2003.

I was furious enough to call and cancel my card, as well as file this report on the whole thing. Stay away from Wells Fargo credit cards - you can never know how they'll try to burn you next.

Company: Wells Fargo Bank
Country: USA
State: Iowa
City: Des Moines
Address: PO Box 10347
Phone: 8006424720

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