Consumer complaint received 2022-01-05
Company: WELLS FARGO & COMPANY
State: FL
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Getting a credit card
Sub-issue: Application denied

Complaint:
I repeatedly have issues opening a credit card account despite the fact that all of my previous accounts are closed and paid in full. Every time I apply for a line of credit the credit card companies deny my application and try to force me to open a high interest card with a low limit. These cards serve very little purpose for me because they constantly report as maxed out ( regardless of whether they are paid in full every month ) because of the low limit therefore actually hurting my credit score more than helping it and they do not extend enough available credit to actually serve any purpose in an emergency. 
The other problem that I have is that without a decent line of credit I'm having trouble qualifying for a mortgage. The banks are reluctant to lend when they know that a consumer may have trouble maintaining the home in the event that something breaks and funding for the repair becomes an issue. 
In my most recent attempt to obtain credit with Wells Fargo XXXX. the bank stated that the reason for the denial of credit was too many delinquencies and too many accounts open with revolving balances. I have issues with these reasons because the delinquencies that they are referring too are on accounts that not only have perfect payment history for periods up to XXXX years prior to the delinquencies, but also have been paid in full and closed since those delinquencies. The cluster of delinquencies in 2019 were a result of an automobile accident in which my employer did not have proper insurance and I was left injured and without income for two-to-three months. However, my accident is not the problem, it's just another example of how useless these banks have become. The problem is that in the last decade banks have started to follow an alarming trend to generate revenues in which they ignore their fiduciary responsibility to consumers and begin to self-cannibalize off of their own customers during the time in which they can actually justify their existence such as an emergency when a credit card could be useful. This dependency on fees results in fraud such as the above-mentioned scenario in which the bank tried to force me into a product that is designed for fee harvesting. So instead of finding ways to generate new business, they're destroying people financially and swindling them out thousands in late interest and fees making it impossible for them to recover. 
Lastly, the other issue that I have is that it's been almost three years since these " delinquencies '' and all of my bills have been paid on time since then. So, since the system is designed as such that consumers are dependent on financial vehicles such as credit cards it is absurd for the banks to continue to slander me for such an extended period of time not only violating my privacy rights but also harassing me trying to generate fee revenue for each other.

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 explanation