Credit reporting, credit repair services, or other personal consumer reports -- Problem with a credit reporting company's investigation into an existing problem -- Complaint #5060070
Complaint Overview
Complaint ID: 5060070
Company: Wells Fargo & Company
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-Product: Credit reporting
Issue: Problem with a credit reporting company's investigation into an existing problem
Sub-Issue: Problem with personal statement of dispute
State: Georgia
ZIP Code: 31093
Date Received: 2021-12-31T12:00:00-05:00
Date Sent to Company: 2021-12-31T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I have been a faithful and loyal customer of WellsFargo for seven+ years. I have paid my credit card payments on time and I built my credit up to a credit line of {$11000.00} and a credit score of XXXX! It took several years and focus to achieve this accomplishment. The issues is, my teenage son open an account with WellFargo a few years ago. At that time your representatives insisted I had to sign onto this account with him due to his age. Those representatives also guaranteed to me that as a valued customer, my account will be safe and his account activity would not affect mine!! Otherwise I never wouldve signed my name to his account!! However trusting in this company, I signed my son 's teen acct. Recently his account experienced fraudulent activity. The activity was strictly within his account, nothing from my account whatsoever. However without warning and during the holidays, my credit card was deactivated! I immediately reached out to Wells Fargo, hoping it was an error, and confident it would be rectified easily and quickly. My account was investigated, only for me to be informed because I was on my sons, account due to his fraudulent activity, my credit card was deactivated, and this closure was reported to my credit information, immediately decreasing my score by XXXX points! I am very upset! I am very disappointed! I am livid! I have made 100 % on-time payments to my credit card with this company. My credit line grew due to my loyalty to my years with their bank. My accounts show nothing negative!!! I simply feel as a loyal 7yr customer, my account activity should have been more closely evaluated separately from my son. My son 's fraudulent activity has caused me to be punished on 2 different levels, my $ XXXX credit line is gone, my credit score has dropped drastically, which will affect every area of my life. Wells Fargo has responded in a cold and very uncaring manner. For the 1st time in 7yrs I did not feel like a valued customer.
Frequently Asked Questions
What is Complaint #5060070 about?
Complaint #5060070 was filed against Wells Fargo & Company regarding Credit reporting, credit repair services, or other personal consumer reports specifically about Problem with a credit reporting company's investigation into an existing problem. It was received by the CFPB on 2021-12-31T12:00:00-05:00.
How did Wells Fargo & Company respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Credit reporting, credit repair services, or other personal consumer reports) and describe your issue in detail.
Can I see other complaints against Wells Fargo & Company?
Yes, visit the Wells Fargo & Company company profile at readthecomplaint.com/company/wells-fargo-company to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.