Wells Fargo & Company Credit Card Complaint

Closing/Cancelling account

Wells Fargo & Company Credit card department,

Closing/Cancelling account California

My company opened a credit card with Wells Fargo at time of conception for myself, 100 % owner and guarantor of finances, and a signature only credit card for the secretary of the corporation, no ownership and no financial responsibility to the company. Being new to how a corporation credit card should be opened we believed it was done correctly. However when the secretary resigned I tried to close the credit card that was never activated and take him off the account to only be informed that he was placed as a guarantor of the corporation and the only way he could be removed is to payoff the card and open a new one. Was this fraud? Did the young man get paid for doing this? 1 ) card was improperly opened 2 ) closing and reopening an established card causes a lot of issues to creditors and to my credit.

Wells Fargo & Company customer in California
Oct 17, 2016

* Source: CFPB Complaint Database

Wells Fargo & Company response to complaint:
Closed with explanation

Created with Highcharts 4.2.3Wells Fargo & CompanyComplaint HistoryComplaints3/20164/20166/20167/20168/20169/201610/201611/201612/20161/20172/20173/201702468Source: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3Wells Fargo & CompanyClosing/Cancelling account2.3%76.7%9.3%11.6%ClosedClosed with explanationClosed with monetary reliefClosed with non-monetary reliefSource: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3National AverageClosing/Cancelling account0.9%65.1%14.5%10.4%2.6%6.1%0.3%0.1%ClosedClosed with explanationClosed with monetary reliefClosed with non-monetary reliefClosed with reliefClosed without reliefIn progressUntimely responseSource: Consumer Financial Protection Bureau

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