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Wells Fargo LOC


The last post in this topic was posted 6178 days ago. 

 

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  • 4 weeks later...

We have a biz LOC with them. Does anyone know when if they give automatic increases at six months or one year?

 

Thanks in advance B)

 

What kind of rate did they give you. We recently dumped our Wells business card/LOC. They wanted a $150.00 renewel fee and the interest rate was outrageous. In fact we had used s for quite a while and always paid on time and such. When interest rates bottomed out bout 18 months ago they sent me a letter stating that the rate would be going up 1/2 basis point. I called them and they said to get lost. I paid the card off and told them to stick it. A bunch of creeps if you ask me.

 

Rob

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I believe they pulled EQ. The APR started out as 6.75% and now it's around 10%. We don't plan on dumping. I just want to see if they will give us a CL increase when it turns a year old.

 

We received a promotion that says they will increase the LOC up to 8K and the APR for six months would be 7.75%.

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I believe they pulled EQ. The APR started out as 6.75% and now it's around 10%. We don't plan on dumping. I just want to see if they will give us a CL increase when it turns a year old.

 

We received a promotion that says they will increase the LOC up to 8K and the APR for six months would be 7.75%.

 

They called me today an asked why I dmed the card. I told them uncompetitive rate etc. When rates bottomed out about 16 months go or so they actually raised my rate 1/ basis point. They said they would give me a CL of 60K with prime plus 4.75. I told them to get lost. They must be nuts. I can get prime plus 1-1.5% all day long and we even got prime - 1 from another card company for a year...

 

Rob

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  • 2 weeks later...

This week we got a promotional increase from Wells Fargo Biz LOC:

 

"GOOD NEWS! Call by November 30, 2004 for a $10,000 line increase plus a low 7.75% APR for 6 months!"

 

Similar to the AMEX personal $1-for-$1 CLI for BT's, Wells offered to increase our $50k limit to $60K with a BT.

 

It had a reservation number and the phone # to call (no mailing, faxing or online submissions allowed. This was so that the CSR could do high pressure selling to convince us to BT as much and as soon as possible. They even encouraged a wire funds transfer direct to your business checking account, same terms.)

 

Well, we had a $20k or so balance, so I dashed to the nearest WF branch and paid off the balance, then had hubby call WF next day to accept the $10K CLI. Then had them wire funds direct to biz checking. From there, we're paying off higher APR% biz accounts.

 

Sweet! It's been a year and a half since we first got the LOC via a "pre-qualified QuickApp" offer.

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We received this offer:

 

"You'll receive 7.75% for 6 months on the first check in this checkbook. But hurry, this offer expires December 15, 2004."

 

They must be upset that we stopped using the LOC checks. The APR is 12%. :roll:

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