Posted on 07/30/2021 7:21:30 PM PDT by algore
Wells Fargo announced at the beginning of the month it would soon close all personal lines of credit within 60 days
The company informed customers that the account closures could hurt their credit scores
The announcement—and the admission that the move could hurt consumers’ credit scores—drew some attention, but nothing more.
https://duckduckgo.com/?q=wells+fargo+closing+credit+lines&t=newext&atb=v263-1&ia=web
this will give you a plethora of websites to choose from with the same basic info
Didn’t need to. “Wells Fargo” was enough.
ah, that explains it.
Page not found and it looks line a link aggregator (that doesnt maintain links for long), but the subject is true.
The other choices are just as bad. I’ve been with them for over 49 years, it would be hard for me to change because there are no good local banks.
My experience with a credit union has been excellent.
I gave up on banks a long time ago.
I was doing business with them and didn’t realize it. I thought I had a mortgage with USAA, got to final payment, and had to wire money to Wells Fargo. It’s all a big web.
Inflationary risk mitigation?
WF sponsors the Mexican national team
I don’t have a checking account with WF but I’ve had a credit card with them since 1989. I only bank at credit unions - never banks. And Fidelity.
A small business owner told what you are saying about WF a month ago. WF is reading the Biden economy and is entrenching.
Amex did that to my small business in 2008. Took a while to recover from that. Banks pretty much suck.
WF sent us a notice about 10 days ago. We had to close our HELOC with WF earlier this year because we refinanced our first mortgage, so this wasn’t a problem. We thought we would re-open the HELOC with WF after completing the refi, but we got the notice from them. So we initiated a new HELOC with the bank we refi’d with and are closing in that next week.
It was weird how WF exited that business. I wonder how people who had used a lot of the HELOC are going to fare. They have to be scrambling to open other HELOCs to pay off the WF loan. Fortunately for us, we kept it only for emergency purposes and had a zero balance.
I just got a notice from Venmo that they were reducing all sorts of perks they were offering, too. They do have a credit card that offers 6% back on “select purchases.” We are happy with the 3% back on our Chase Freedom card and are sticking with that.
“Something is up” — it sure feels that way, doesn’t it? I had not heard about the Citibank changes you mentioned.
We’ve been with WF for probably 30 years. Absolutely no complaints about them or the services they have provided to us. We had a fraud problem and their team helped us solve it quickly.
I am with a regional CU that isn’t in my region, but they are part of the Co-op network, so I can get cash and make deposits at any of the 30,000 Co-op ATMs across in the country.
Do you mean, "...on the economy tanking?"
Regards,
I do not like Wells Fargo. I bought property (land and house). The land value to house value made many lenders balk. WF took on the loan and have kept it as a internal asset. I will give them credit for being able to see through the “lending practices”. My mortgage is still with them 10 years later. Hope to have it paid off in 3-4 years.
I have never had an issue with them but the things I read do make my skin crawl.
If I have to be honest they have been solid to me.
Not A just notified me they will no longer honor a check drawn on my checking account
All cash flows will start reversing with institutions hoarding cash in the federal reserve. Cash is becoming worthless. Federal reserve does not care. The 1.6 and 3.5 trillion infrastructure packages are just Trojan horses to bust the economy. What government would continue unemployment benefits in the face of workers refusing to work? What government would issue trillions in debt in the face of runaway inflation? Everything the government does is Kabuki. The 1/6 hearings, the “Trump” investigations, all the illegal DOJ pronouncements, all Kabuki. What’s real: continuing efforts to cower the population and preparation to bust the economy and thus the dollar.
We don’t have long left to pullout chestnuts out of the fire. When to collapse comes it will happen overnight. You will be screwed by everything you ever trusted, even your church.
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