Possible reasons why a Wells Fargo credit card was declined include the card not being activated or not having enough available credit, as well as suspected fraud, delinquency, or a temporary “turning off” of the account. The best way to find out exactly why the Wells Fargo credit card was declined is to give customer service a call at 1-800-642-4720.
Reasons for a Wells Fargo Credit Card to Be Declined:
It’s not activated: You can’t use your Wells Fargo card until you activate it.
There’s not enough available credit: Your purchase might have exceeded the amount of money you’re allowed to spend on the card.
Suspected fraud: If Wells Fargo’s system flags a transaction as suspicious and possibly fraudulent, they may prevent it from going through until you confirm that you authorized it.
“Turning off” the account: You can temporarily stop your card from being used for new purchases, but you’ll have to turn it back on again after.
Delinquency: If you are very behind on paying your bills, Wells Fargo could stop your card from being used for any new purchases.
The account is closed: If your card is declined, it could mean Wells Fargo closed your account, though they should have notified you if they did.
It is also possible that the reason your Wells Fargo credit card was declined isn’t the fault of either you or Wells Fargo. Your card could be broken or the merchant’s payment terminal could not be working properly. But no matter what the situation is, you’ll probably get the quickest answer by talking to customer service.
It’s important to remember that these are the lowest credit limits you’ll start out with if you’re approved for an account. You could receive a higher limit. And the actual limit you’ll receive is based on your credit history, income, employment status, level of debt and more. Unfortunately, you won’t know how much your credit limit will be until you’re approved. Wells Fargo does not publicly disclose its maximum credit limits.
If you accept the initial Wells Fargo credit limit offer, you can request an increase in your credit limit after at least six months of timely payments. Also, after six months, Wells Fargo may review your account for an automatic increase. Eligibility is based on things such as payment history and your total amount of debt. But there’s no guarantee when, or if, an automatic increase will occur. An automatic increase uses a soft inquiry, which means your credit score is not affected.
The standard Wells Fargo cash advance fee is $10 or 5% of the cash advance amount, whichever is greater. Wells Fargo’s cash advance APR is currently between 23.99% and 25.99%. The exact rate depends on your overall creditworthiness at the time you’re approved for an account. But those terms are the same for all Wells Fargo credit cards.… read full answer
Given the high costs, you should avoid cash advances. But it’s still worth knowing how to perform such a transaction and how much it will cost should you need to get one in an emergency. And the first step in being able to do a Wells Fargo cash advance is requesting a PIN from customer service.
To get a Wells Fargo cash advance PIN, call customer service at (800) 642-4720. After that, you’ll be able to take out up to $500 in cash per day from your line of credit, up to your cash advance limit.
If you have a Wells Fargo checking account, you can link it to your credit card as overdraft protection. If your bank account balance dips below zero, you’ll get a cash advance from your credit card to cover transactions. But this isn’t a great option. You’ll pay a $12.50 fee for advances under $50, and $20 for anything above. Plus, the same high cash advance APR applies right away.
At the end of the day, a Wells Fargo cash advance costs too much in fees and interest to be a good option for convenient cash. But if you do one, make sure to repay your balance as soon as possible. Unlike purchases, cash advances do not come with any grace period. Interest starts accruing as soon as you make a withdrawal, so repaying your advance as soon as possible will save you money.
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