I opened an unsecured credit card with Wells Fargo 1 year and 3 months ago to try and gain credit history and build my FICO scores. I gave them 2,000.00 to secure the card as collateral. I was told at the time that if I paid the card on time every month for a year, never went over my limit, wasnt late or overlimit with any other creditors for a year, and kept my FICO score over 600 for ONE YEAR, that the card would graduate to unsecured at that time and that I would get my money back. Well, In the previous year, I have never been late, haven't been over my limit, haven't been late or overlimit with any other creditors, have recieved no negatives on my credit in all that time, been well over 600 FICO all that time (670 now), and they wont' graduate the card and give me my 2K back. They refuse to give me a reason, despite speaking to the representative's supervisor. They say my options are to just wait until "the system" decides I should graduate to unsecured and automatically sends me a letter (They have no idea when that might be), OR I can cancel my account and apply for an unsecured card. The problem with that is that I got this card to build my credit. If I cancel the account (which is my oldest account), my average age of accounts is going to plummet which is going to hurt my FICO score. Also, I will have a NEW credit account which will lower my score further, PLUS a hard enquiry to lower it even more. I feel really hurt and angry because I trusted these people and did everything they told me to do, and now that it'[s time for them to fulfill THEIR side of the bargain, they refuse to do so or even give me a reason why. It's completely unfair. I hate Wells Fargo with all my heart. I wish I could say that I would never do business with them again, but I cant cancel my account without hurting my credit score. So I just have to put up with being f%&*ked up the ass by these people apparently. I was going to use that 2 grand as a large part of my down payment on an FHA home loan. As a result of these Wells Fargo buttf%$&kers I probably wont make the cutoff deadline for the first time homeowner tax credit - so these lying turds have basically cost me 8,000.00 You try to do the right thing, you live up to your side of the bargain, and this is what happens I guess. Apparently Wells Fargo would rather lie and keep my 2K so they can pay their a$hole fU#%^ktard CEO a ten million dollar bonus and use all the government's money to buy up smaller banks instead of loaning it out like they are supposed to. If you are in the market for a secured card, I would ask you to not get one from Wells Fargo, because I did everything perfect and at the end of a year they refused to unsecure the card like they said they would. Probably they'll do the same to you too.
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