Consumer complaint received 2017-11-08
Company: WELLS FARGO & COMPANY
State: WA
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Other features, terms, or problems
Sub-issue: Problem with customer service

Complaint:
Over 3 years ago, in XX/XX/XXXX I signed up for a WellsFargo Secured CreditCard in an effort to help turn around my low credit score. I sat with a gentleman at the WellsFargo Branch in XXXX XXXX, XXXX WA. He assured me that my security of XXXX XXXX dollars would be returned to me after a year of good standing. He told me that if I work on re-building my credit in other ways ( paying off past debt, getting unsecured credit cards, and maintaining a positive track record ) that my security funds would be returned to me after a year. In the meantime I used the card, maintained a great record and followed his advice. Much to my dismay I learned that this policy was not a policy of Wells Fargo. I was misinformed. In fact, when I reached out on my anniversary date in XX/XX/XXXX they could n't even tell me WHY I was n't receiving my security back. Only that it 's at WellsFargo 's  discretion. I asked in many different ways how I could ensure that I 'd get my security back sooner than later and they told me ways to build my credit but they would not tell me why WellsFargo had made a negative determination about returning my security funds. Nor would they give me a timeline that would provide me a reasonable expectation. At that point, I had already entered myself into the class action lawsuit against WellsFargo regarding fraudulent accounts, inappropriate fees, etc. I communicated on multiple dates to multiple customer service representatives that I felt very vulnerable and that it felt suspicious to me that Wells Fargo was literally holding my money without any legitimate reason or timeline provided. They assured me that a monthly review would take place and that when the card is unsecured I 'll be notified via snail mail but that no further information could be given. 

I have since paid 4 of my 7 outstanding debts that have been weighing down my credit. I have since received 4 unsecured credit cards exceeding several thousand dollars in total  available credit. I have since raised my credit score from the low XXXX 's to the high XXXX 's ( according to creditwise ). I have had a XXXX balance on this credit card for nearly 6 months now. I am not sure what more I can do to convince WellsFargo that I am a trustworthy consumer. I also find it odd that even though WellsFargo employees continue to tell me they are taking a look at my credit monthly to make a determination - none of the reporting agencies have any documentation that WellsFargo has ever once checked my credit over the last several years! I feel like I 'm being bullied and given false information. In response I cancelled all checking/savings accounts with the bank hoping that they would see a red flag in a long-term relationship of 18 years being severed. 

This is my oldest line of credit and cancelling the card will have a detrimental affect on my overall credit score. Which I feel is counter productive to why I got the card in the first place. None of the promises I received from WellsFargo have been kept and though I have been a customer of theirs for nearly 2 decades I feel that I 'm receiving no individual service or acknowledgement from them. They continue to charge me fees related to a secured credit card and its beginning to feel like they are holding my hard earned money hostage. I want to have a positive relationship with WellsFargo but they seem driven only by how much money I can give them - rather than helping me be the best consumer I can be. I do not want WellsFargo to control my life anymore and they have already had a horrible impact on my family 's life ( hence the class action suit ). What can I do to remain a long term customer with this bank but receive the service I have worked hard to receive?

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with non-monetary relief