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Nocsmo

best way to start a line of credit

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I need to get a line of credit. At wells fargo they told me to set up an account with them and after a few months i will have a better chance of getting approved for a credit card, i started an account but is there anything else i can do to have a better chance of getting approved?  
 

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If you have a couple hundred 'spare' dollars laying around you could always get a secured credit card through WF. That's how a lot of people restart their credit. After you've paid it regularly for a while...I think it's a year...they give you your startup money back and up your limit. As the time goes by, you make your payments on time, etc. they keep raising the limit. It's as good a way as any and I'm surprised the WF person didn't suggest it to you.

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So is getting into a bank like WF better than going to a local community bank?

 

I do like the secured card idea of WF. Never thought of that

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On 5/6/2019 at 8:36 AM, Locemore said:

If you have a couple hundred 'spare' dollars laying around you could always get a secured credit card through WF. That's how a lot of people restart their credit. After you've paid it regularly for a while...I think it's a year...they give you your startup money back and up your limit. As the time goes by, you make your payments on time, etc. they keep raising the limit. It's as good a way as any and I'm surprised the WF person didn't suggest it to you.

DO NOT get anything with Wells Fargo.. theyhave kept me at a $300 secured card for 5 years.. I have 20000 trade lines.. Never missed a payment and they refuse to upgrade or give a credit increase... nottoo mention they literally steal and their fraud dept. is incompetent. 

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On 11/15/2019 at 12:39 AM, jrukkus said:

DO NOT get anything with Wells Fargo.. theyhave kept me at a $300 secured card for 5 years.. I have 20000 trade lines.. Never missed a payment and they refuse to upgrade or give a credit increase... nottoo mention they literally steal and their fraud dept. is incompetent. 

welcome to CB!!!

 

why on earth would you continue to do business if wells treats you like crap/?

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On 11/18/2019 at 5:55 PM, hegemony said:

welcome to CB!!!

 

why on earth would you continue to do business if wells treats you like crap/?

I dunno, I guess I always subscribed to the practice of not closing cards.. But after a recent struggle with ID Theft, I had to fight them for 3 months HARD to issue me back my measly $300 secured funds. 5 months later they went into my account and STOLE $600 claiming they "double paid" my claim.

 

Took it all the way to the CFPB where they still refused to admit fault, however did offer me a $290 "customer appreciation check." Meanwhile, they stated they would continue to report negatively, charge me interest on the $672 something by then.. and to keep my account overdrawn until I paid it.. When they could have very easily just taken that check and applied it to the negative balance thei stole. I never did cash that check out of principal. 

 

It was in fact, the most ridiculous thing I have ever seen.. Am I allowed to post the letter from them? It just shows without a doubt that even after all they got caught doing a few years ago, nothing has changed- the card has been removed from my credit reports like 6 times now and just came back for a 7th.. they have sent me 3 arbitration letters asking me to initiate.. Which I ignore.. All over a THREE HUNDRED DOLLAR SECURED CARD! Insane.. Thanks for the welcome AM! Long time stalker- first time talker... 

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On 1/5/2020 at 10:47 PM, jrukkus said:

I dunno, I guess I always subscribed to the practice of not closing cards.. But after a recent struggle with ID Theft, I had to fight them for 3 months HARD to issue me back my measly $300 secured funds. 5 months later they went into my account and STOLE $600 claiming they "double paid" my claim.

 

Took it all the way to the CFPB where they still refused to admit fault, however did offer me a $290 "customer appreciation check." Meanwhile, they stated they would continue to report negatively, charge me interest on the $672 something by then.. and to keep my account overdrawn until I paid it.. When they could have very easily just taken that check and applied it to the negative balance thei stole. I never did cash that check out of principal. 

 

It was in fact, the most ridiculous thing I have ever seen.. Am I allowed to post the letter from them? It just shows without a doubt that even after all they got caught doing a few years ago, nothing has changed- the card has been removed from my credit reports like 6 times now and just came back for a 7th.. they have sent me 3 arbitration letters asking me to initiate.. Which I ignore.. All over a THREE HUNDRED DOLLAR SECURED CARD! Insane.. Thanks for the welcome AM! Long time stalker- first time talker... 

My experience with their business bankers is that they know nothing of business, how a business is formed, how that the SOS isn't a police force for LLC's and yes there are states that do not list the members or managers on the SOS website; gosh forbid you come in with one of those -- took Alan Barker like 1.5 years to  tell me he couldn't open an account for me.  Went to a different branch and they opened the account in minutes.

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