After careful review, we are unable to accommodate your request at this time for the following reasons:
- Total monthly payments due for open bankcard accounts on credit report is too high
- The average Wells Fargo Bank collected demand deposit balance in the last 3 months is too low
- Lack of checking account relationship with Wells Fargo
- The payment as compared to the amounts due on your credit card account in the last 3 months is too low
So… none of that is readable to normal humans. Let's try to translate:
- The minimum payments for your credit cards add up to an amount that is too high.
- This one is rough. "Demand deposit" usually means a checking or savings account. I'm guessing they mean that you don't have enough automatically depositing into a savings account?
- You don't have a checking account with Wells Fargo. This point is clear, but requiring this sort of relationship is highly unusual behavior for a credit card.
- You are not paying a large enough amount on your credit card each month. They want you to be paying more than the minimum.
Have you recently been turned down by Wells Fargo or another bank? Did they say that not having a checking account with the bank was a factor in the rejection? If so, we want to hear from you! Send our team an email or post your comments below.
Emily Peters – Credit.com's personal finance expert and former TransUnion credit bureau insider, Emily writes about credit reports, credit cards, loans and personal finance as the CreditBloggers.com editor.
{ 4 comments… add a comment }
The answer to number 1 above seems incorrect. “The Monthly Payment Due on Bankcards is Too High” means the debt burden is on the high side not that the minimum payment is too high.
I have a problem with wells fargo. I have a credit card account i have had for 3 years now i got the limit up to 9000 they just moved me up in april. on july 15th they knocked my iimit down to 3300 . I have five accounts with wells fargo over 60 g in assests with there bank and a mortgage loan. I have never missed a payment on anything in the last 3 years on that account and every one of my accounts . all my limits went up becuase of this account. I talked to the credit dept and to excutive offices and they said becuase of 5 inquires in the last 5 months and four of those were from wells fargo trying to refinance my mortage loan and when they ran my credit to up me to 9000 in april. this makes no sense wells fargo was my highest limit and now its my lowest one and they dont care what so ever. I am really thinking of pulling all my money out of wells fargo they dont care bout me whatsoever even though i keep a lot of money in there bank and have all there perferred accounts what kind of treatment is this
david
I need the email addresses for Wells Fargo Bank. They placed a libelous, incorrect negative comment on my credit report though my Visa credit card has been paid on time.
My daughter who shares the account with me is in the process of a Chapter 13 bankruptcy because she lost her job and can’t pay her bills. So, I have assumed full responsibility and have been paying the bill for a year now.
I have already called twice and sent certified letters to both Wells Fargo Bankruptcy and Collections departments. What do I do?
Unfortunately, if your daughter is a joint account holder with you, then the BK will hurt you as well. This is one of the dangers of joint or cosigned accounts. What one person does impacts the other if the accounts are joint.
The only way you can stop the BK from showing up on the account is if your daughter is an authorized user on the account (instead of a joint or primary account holder). If that’s the case and you are the primary account holder, you can remove her as an authorized user from the account.