Consumer complaint received 2025-05-21 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Trouble using your card — Credit card company won't increase or decrease your credit limit
Company: WELLS FARGO & COMPANY
State: CA

Complaint narrative:
I signed up for a credit card with Wells Fargo with a promised credit limit of {$12000.00}. I was utilizing around 50 % of my credit limit and making all payments that were required however, to my dismay, I found recently that Wells Fargo has decreased my limit by nearly 50 % making my credit utilization skyrocket to 96 % after which my credit score plummeted from the XXXX to the XXXX I am in the process of moving and the place XXXX moving into requires a credit check. I am now unable to move in to my new home and will have to be homeless due to this decision that was made by Wells Fargo. This is absolutely devastating and all that they have to say is that they reserve the right to make these changes, I did nothing wrong not only have. I never missed a payment with Wells Fargo but I have never missed a payment in my entire life. I have XXXX accounts with city XXXX with XXXX XXXX with XXXX XXXXXXXX a XXXX card XXXX XXXX XXXXXXXX XXXX and an XXXXXXXX XXXX  with XXXX XXXX. I always make my payments and the purpose of credit card companies is to make money on interest. I was given no warning that this was XXXX XXXX happen and I was completely blindsided and my entire future lies in the balance over someone simply clicking a button on their computer and ruining not only my finances, but my credit score, which is absolutely essential living in California to do anything from purchase a home or just rent XXXX purchase vehicles and attain loans. XXXX also in the midst of starting my own business and its crucial that I have a clean fiduciary history, as well as credit score I have never in my life experience, such a devastating blow to my life from any financial institution and any other time that I had an error, even when it was on default of fraud or the fault of my own, it was quickly remedied, and I was completely satisfied if this is happening to me, its happening to other Americans and for this to be happening at a time when our economy is so volatile with threats of tariffs and interest rates and inflation devastating the middle class. I find this to be absolutely repulsive and reprehensible all XXXX asking is for them to reset my credit limit to the amount that was agreed to in our contract so that my credit utilization can be reduced to what it once was and my credit score be restored so that I can move forward with my life and continue to pay them money. XXXX not asking for any favors. XXXX not asking for any handouts. XXXX just asking for things to be somewhat fair I signed up for this credit card, knowing full well that credit card companies and banks are predatory, but this is a whole other level of maliciousness and its wrong. XXXX not trying to sue. XXXX not trying to make a quick buck. XXXX not trying to play the victim but over a decade of always 100 % of the time making payments to be punished so severely to essentially be put on XXXX XXXX to be another homeless statistic in the state of California this will hinder not only my ability to pay bills and Wells Fargo but this threatens my health my safety my life, my career, my family, my loved ones. This is wrong. 

All XXXX asking is for them to make things right, nothing more.

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