When it comes to applying for credit cards, many people may wonder if they can be declined because of their Wells Fargo credit card number. This may seem odd, as most credit card companies will give you a chance to apply without showing your number at all. The truth is that this is still a possible problem even though the vast majority of credit card companies will give you a chance to apply without revealing your credit card number. The reason why credit card numbers are required when applying for a Wells Fargo loan is to ensure that the loan was paid off on time. If you do not reveal your credit card number when applying for a loan then your interest rates will go up and this can cause problems if you have a low interest rate already.
When applying for a new loan at any place of business such as a bank or credit union you will be asked for your social security number, your driver's license number, and sometimes your social security card number as well. These are only required so that the lender can quickly determine your credit score, which is an important part of getting a loan. When a person applies for a loan using one of the major credit bureaus such as Wells Fargo they are asked for their social security number along with other personal information. If a person is refused a loan because of their social security card number, they can file a complaint with the bank that is doing the underwriting.
Wells Fargo has had its fair share of credit card rejections over the past couple of years because of people providing false information when applying for a loan. If you apply for a loan and you are denied Wells Fargo holds the right to hold onto your credit file until you repay the loan. Even though this can cause problems later on when you are applying for loans again this is usually not a big deal unless you are trying to purchase a home. If you know that you have a large debt and need to get a mortgage then having bad credit can be a problem.
One thing to note if you are ever approached by a Wells Fargo agent about applying for a loan that you do not already own is to know that this will probably be your last chance. Banks rarely provide any type of credit after they have completed processing a loan application. This means that a person who already owns a credit card may have a difficult time applying for a new one. If you own a Wells Fargo credit card then you should contact them and request that you be removed from your credit file because of a social security number error. Most likely you will be able to work something out with Wells Fargo as long as it is resolved in a timely manner.
It may take a bit of time but you should be able to work out an agreement with Wells Fargo to remove your negative credit status. They normally work out payment arrangements with the individuals that are having problems paying off their debts. You will generally have to pay a small fee for every paid off account but you shouldn't pay it back until you have fully repaid the account. The lender will usually alert the credit agencies that you are dealing with a collection agency so any future credit cards will not be accepted.
The best way to avoid having this problem is to be very careful with your personal information. Never give out your social security number, date of birth or address to anyone over the phone. If you are shopping online, make sure that the site is secure before entering your credit card information. You can also sign up for automatic payments from any site that you are purchasing anything on. If you pay by credit card, it can help to reduce the risk that you are giving out your number to someone that will steal it from you.
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