Our checking account is through Wells Fargo. Their services have been going down the tubes for a few years ago. We no longer have any lines of credit or personal loans from them. They essentially offer no real service to us except a debit card and fees to use it.
We’re toying around with the idea of leaving them for a credit union. Those entities seem to be the only real service banks left.
My experience with a credit union has been excellent.
I gave up on banks a long time ago.
Wells Fargo has been in trouble for a few years. Eventually they go bye bye. I moved my Moms accounts to the credit Union several years ago. There is talk that on Oct 15th the banks will have to change their lending rates to 1% to jive with the Fed. I can not verify that but who knows? So maybe that’s why they are getting out of personal credit lines.
As a former mortgage loan underwriter I can tell you that if you pay a credit line off and close the account it will lower your credit score but only a small amount. Maybe 3-5 pts. So nothing to worry about.