Wells Fargo & Company Credit Card Complaint

Advertising and marketing

Wells Fargo & Company Credit card department,

Advertising and marketing Nevada

I opened a Secured Credit Card at Wells Fargo about 3-4 years ago. At the time, I was simply trying to re-establish my credit after a nasty divorce. A Personal Banker inside one of the local branches advised me to open a Secured Credit Card to help me in re-establishing myself. The Personal Banker explained that my own money would secure the credit card, allowing me to make purchases. He assured me that at some point, as early as 12 months or as late as 18 months, my credit card will become unsecured and my funds released back to me, and at that point I would have a normal credit card with even a possible credit limit increase. I am going on 4 years now I believe and each and every time I ask about my funds being released back to me, I am told that it is still under review. I called this afternoon to ask when I opened this credit card and I was told that they could n't release that information to me and that I would need to find my opening statement and look on there for it. I feel that this is just another bold face lie by Wells Fargo to tie up my $1000.00 for this secured credit card while they obviously charge me interest on my purchases but I am not receiving any interest on the $1000.00 that they are holding and refusing to return to me.

Wells Fargo & Company customer in Nevada
Oct 18, 2016

* Source: CFPB Complaint Database

Wells Fargo & Company response to complaint:
Closed with explanation

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