Wells Fargo terminated a member’s credit card accounts without explanation, leaving them upset and without cash.
Wells Fargo (Photo: Google)
Wells Fargo Customers Express Frustration as Accounts Abruptly Closed, Incentives Seized
After almost a decade with Wells Fargo, a customer had both credit card accounts terminated without warning. Despite asking customer support, they got a letter confirming account termination. The user worried about their credit score but said it’s not the worst part.
An unhappy Wells Fargo customer said that the bank terminated their accounts and took their cash-back incentives, including a nearly $3,500 sum. The customer complained about losing incentives acquired over time, particularly after redeeming them for gift cards. On Reddit, one user suggested redeeming incentives immediately to avoid handing the lender an interest-free loan.
Another person had a similar experience with Chase 15 years ago and recommended that banks frequently verify members’ identities against government-maintained forbidden entity listings and close accounts if they match. These lists are financial “no-fly” lists, and banks will shut accounts if a member’s identification matches forbidden businesses.
Wells Fargo Customers Left in the Dark After Account Closures and Incentive Seizures
A Reddit user who complained about Wells Fargo taking their cash-back incentives hasn’t responded. The U.S. Sun contacted Wells Fargo for a comment but got no response. Wells Fargo’s customer privacy notice states that the bank, like others, may utilize members’ data without notification.
Wells Fargo’s website also states that members who obtain a credit card within six months may not qualify for more. Chase and Utah Wells Fargo customers experienced similar incidents.
