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In reply to the discussion: Wells Fargo fires employee for 1972 shoplifting conviction! The banksters can kiss my ass! [View all]slackmaster
(60,567 posts)at least not now, because of the damage that Bank of America has done to my credit scores with its false and illegal derogatory credit reporting that falsely shows me as a borrower on my ex-wife's credit card. BTW, I've gotten that removed from one of the bureaus and am hammering on the other two. I won't stop until the damage is removed.
I have pro-actively alerted Wells Fargo about the situation with BOA long before my ex-wife went delinquent on her Visa card payments to try to make sure Wells doesn't cut my credit line. Many banks have done to equity line consumers as a result of falling home values and credit scores. The Wells Fargo mortgage people welcomed my disclosure and assured me, in writing, that as long as I make the required payments on time on all of my Wells Fargo obligations (the HELOC and a MasterCard that I use rarely,) I won't be at any risk of a credit line reduction.
That's very important to me - the HELOC (with its limit of more than $200 K) is a component of my emergency reserves. If I have a sudden need to buy a car, or a big out-of-pocket medical expense, or some other unforeseen emergency, the HELOC would allow me to borrow the money at a low rate as opposed to putting the charge on a credit card, or taking a premature distribution from a retirement account.
I don't trust Wells Fargo like I do a family member or personal friend, but in my case they are the devil I know.