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Old Today, 02:45 PM
 
294 posts, read 155,405 times
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Quote:
Originally Posted by travis t View Post
I will say I've had accounts at Wells Fargo for many years. Generally I've been happy with them, but right now I have a bad tasted in my mouth. I had a credit card with them that I rarely used. 99% of the time it had zero balance, zero activity. They sent me a letter saying use it, or it will be canceled, so I used it for a purchase. Then it went back into dormant mode.

Long story short, at some point they cancelled my card even though when I did use it, I paid faithfully. They never notified me that they had cancelled it. I found out by accident when I tried to use it. That to me is outrageous, to cancel an account without notification. I went in to talk to a banker, and he said that it was listed as 'cancelled by user.' He called a specialist, who told him they had a program called 'use it or lose it.'

I'd be interested if anyone else has thoughts on this. I'm still steamed.

Though I agree it's bad that they cancelled it without notification, it's actually good that it's marked as cancelled by user. Card cancelled by issuing bank looks bad on credit report, at least that's what I read somewhere.
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