Consumer complaint received 2024-09-27 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Closing your account — Company closed your account
Company: WELLS FARGO & COMPANY
State: AZ

Complaint narrative:
From Wells Fargo : " We received your concerns regarding your Cash Back XXXX XXXX Credit Card account. Our records confirm we sent you a copy of the enclosed letter in XX/XX/XXXX indicating that your credit card account was at risk of being closed due to inactivity as there had been little or no activity in the last XXXX or more months. The letter did advise you that if you wanted to keep the account open to make a purchase soon using the credit card or the account would be closed on XX/XX/XXXX, due to inactivity. 

On XX/XX/XXXX, you advised Wells Fargo you lost your XXXX XXXX XXXXXXXX XXXX Credit Card ending in XXXX. When a credit card is reported lost, or when it has unauthorized transactions or fraudulent activity detected on it, Wells Fargo may close the account in the best interest of the customer and issue a new credit card with a new number. This is often referred to as a lost or stolen transfer and it is used in situations where the possibility of fraud exists because checks, a checkbook, or customer identification may have been lost, stolen, or otherwise compromised. When a lost or stolen transfer is completed, a new account number is generally issued to help protect account information, and certain types of transactions will be prevented from being applied to the account. 

After we received information indicating that your credit card ending in XXXX may have been compromised. In order to protect the security of your account we closed the account ending in XXXX and transferred the balance from the account ending in XXXX to the account ending in XXXX. We also shipped the new credit card to the address on file on XX/XX/XXXX. After we sent you the new credit card, our records indicate no additional purchases were made using this credit card account on or before XX/XX/XXXX. 

Our records confirm that the credit card ending in XXXX was closed on XX/XX/XXXX. As part of our ongoing responsibility to oversee and prudently manage our banking operations, we continually evaluate our banking relationships to ensure we meet intense regulatory guidelines. Wells Fargo has identified that various relationships are not meeting our business and operational guidelines. We XXXX close the credit card account at any time and for any reason in accordance with the terms and conditions of the XXXX Account XXXX. 

We are sorry you are disappointed with your account closure. We perform ongoing reviews of account relationships in connection with our responsibilities to ensure accounts continue to meet our business and operational guidelines. Based on our review, we noted your account was inactive with the last activity in XXXX of XXXX. We reached out to you to determine if you wished for the account to remain open and we did not receive a response within the timeframe provided. For this reason, your Wells Fargo XXXX XXXX XXXXXXXX XXXX Credit Card account was closed on XX/XX/XXXX. '' My response : " Thank you for getting back to me on this and for recounting the timeline of events. 

I was not under the impression that there would still be an urgency to use card ending in XXXX by XX/XX/XXXX seeing has how my response in asking for a new card is a direct indiciation that I didn't intend to close the account. Can you understand that confusion? That was not very clear at all by Wells Fargo and the representative helping reissue a new card never told me that I would still be expected to use the card before XX/XX/XXXX. Why would anyone receive a new card, which is current activity in itself, and still expect that Wells Fargo would close it within that same month? 

All in all, this was very unclear and my intentions were never to close the account. But to provide some addtional context, I was going through a very difficult personal time during this timeframe, so my priorities were not activating and using a credit card right away, when I didn't realize there was still that pressure after at least calling to obtain a new XXXX indicating I was not intending to close. Had I known this was still the expectation I would have done so. But that was not clear. 

Can you please reopen and revisit my request based on this understanding and circumstances? My credit history with Wells Fargo is my longest standing credit history and for you to close it when it was not my intention does not seem like the right and decent thing to do. 

Respectfully. ''

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