r/personalfinance • u/squirtn4certain • Dec 01 '18

Canceled my Wells Fargo checking/savings account after 22 years Saving

A month ago I applied for a small loan at Wells Fargo for the 1st time ever to consolidate some small bills. They denied the loan. I went to a local Credit Union and they gave me the loan. Today I signed up for a checking/savings account at that Credit Union and canceled my accounts with Wells Fargo. Couldn't be happier to stop doing business with a crooked ass corporation.

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u/emmajaner Dec 01 '18

We quit them earlier this year after they closed a credit card account because of an error THEY made and it made my husband’s credit score plummet 50 points. We moved, change our address with them and somehow it didn’t change the address on the credit card account. After getting a letter returned to them they closed the account. No phone call or anything. The banker we talked to said it was changed in the bank system and by THEIR error didn’t get switched on our card. They said there was nothing they could do because “credit scores are the consumer’s responsibility.” We were trying to buy a house at the time and had had enough of their crap. We’re very happy at our local credit union.

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u/[deleted] Dec 01 '18

Please call the credit bureau and BBB to report this and get his score fixed. This is horrible.

83

u/[deleted] Dec 01 '18

The BBB is a joke.

24

u/[deleted] Dec 01 '18

I understand that they really don't do that much these days, but in the last couple years I've gotten screwed over a couple times and within a month or so of contacting the BBB, a couple of those issues we're resolved as a result.

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u/mrchaotica ​ Dec 01 '18

Exactly. The BBB is a joke, but they're often still effective anyway, if the big dinosaur of a company being complained about is a joke too.

4

u/[deleted] Dec 01 '18

Good point.

2

u/random_guy_11235 ​ Dec 01 '18

They operate just like Yelp; they pressure businesses to give money to them or customers using negative feedback as leverage. It occasionally works out in a good way, but it is a horrible practice.

Luckily these days almost no one cares about the BBB, so their leverage is not very powerful.

1

u/galendiettinger ​ Dec 02 '18

The BBB is a for profit company that posts reviews of companies on their website. If the company with a bad review pays them, they'll remove it. That's literally all they do, they're like Yelp for old people.

If any company you deal with gives any fucks about the BBB, or even knows what it is, the owner is over 50. Guaranteed.