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Wells Fargo Personal Loans

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Most Helpful Positive Review

May 06, 2015
24 Hours To Financial Freedom
TheCreditQueen26 Borrower

This is my first review ever, and after having such a seamless experience I had to share! I cannot speak for all experiences, but I can speak for mine. I recently have become obsessed with all things credit and debt related that I realized that I wanted to consolidate my credit card debt and have an emergency fund. I ran the numbers based on my income, and realized that it would have taken much longer time wise, and would have cost me much more in interest to pay off my credit cards and save for a fund, that I decided to turn to a unsecured personal loan from Wells Fargo. 

I have banked with them for years and also have a credit card with them, so I thought it made most sense to try for a loan with them too. I own no property, my car is not in my name, have about 50k in student loan debt, but I do make 70k and have no blemishes on my credit report. I have 11k in mixed credit card debt and have a 698 credit score. On Sunday afternoon I decided to apply online for a personal loan requesting an amount of 15k for a repayment of 36 months. The process took only a few questions, and I got a 'thank you for your application' screen and thought I would get a letter in the mail. Next thing I know, LITERALLY 5 minutes later, I got an e-mail approval from Wells Fargo for the 15k/36 months at 10% and a monthly payment of $498. I was blown away! I furthermore clicked on the link from my e-mail and saw that there was no further action required (verification of income etc). I called WF just to confirm that everything was correct, for which the customer service rep said I was correct, and I could go into any branch, sign the paperwork, and get my funds. 

The next day, Monday, I walked into my local branch, without an appointment and waited for a banker. I was able to have them print out the forms, get a check, then deposit my 15k into my account all in less than 24 hours. Not only have I been able to 'refinance' my credit cards, but I now have NO credit card debt which will be reported on my credit report since I paid off all my cards, and I have a 4k emergency fund in my checking along with my normal account balance. Wells Fargo was AMAZING through the whole process, and I am more than pleased!!!

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Most Helpful Negative Review

Oct 25, 2012
amtid09 Borrower

I had applied for a student loan for my Freshman year (roughly 2009) and just recently had some hiccups with my university. I ended up having to take off a semester of school. Well, I had contacted Wells Fargo around the time of the incident and they were all but understanding, stating that "If I went back to school on time in the fall I would have no problem and the loan would not come due." LIES!!! About 4 months ago I started getting calls from Wells Fargo, and it was daily, and at least 3 times that day! I had to explain the situation to the people calling me and they stated "We have no record of any indication that they had given you this extension. How will you be paying now?" I immediately hung up and went into the local branch! They practically turned me away. I had no other choice but to pay for 3 months (with money I don't have) and turned in some of the paperwork they required stating that I was back in school. I had 2 weeks with no threatenly calls, and then they started again. I immediately went back into the branch and asked where the paperwork was. They said they had never recieved such paperwork and turned me away AGAIN!! Not only has it hit my credit score, but my dying Grandmother ended up paying off the loan so they would stop harrassing us both. I WOULD NEVER RECOMMEND SUCH AWFUL SERVICE TO ANYONE!!! At this point I would rather stop going to school than have to have such a harrassing student loan!!! WARNING: DO NOT USE EVER!!!!

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Reviews (88)

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Oct 08, 2016
Waste of time

Don't bother with this bank. I've had a checking account in good standing for over 12 years. I've had a credit card with them almost 3 years, within the last year I've opened a savings account and an auto loan. All accounts in good standing, no late payments ever. My credit score is in the high 600s. I applied to get a personal loan for $2,500 for school. They wanted a co-signer. Really? I'm 30 years old with an established credit profile and extensive history with them. I turned down the offer and went to Mccoy Federal Credit Union with whom I don't even have a relationship with. All they required was that I open a savings account with $5 in it and they approved the loan with no co-signer AND they gave me a better interest rate. Wells Fargo does not care about it's long-term customers. I was treated better at Mccoy after only being a customer for 5 minutes.

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Sep 13, 2016

You won't get qualified if your credit history isn't flawless DO NOT APPLY Wells Fargo is bull**** when it comes to loans I guess they're way of getting you to sign up for there company is by offering this "loan" bull****, don't even try it you'll waste your time and will be disappointed!

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Sep 06, 2016

Just like all the others, long time customer with assets, other credit lines and a FICO score of 748. No derogatory marks, years of experience with their other lines. Low debt to credit ratios and denied? Based on what? I'm moving my other accounts. This is not how you make customers feel appreciated. I'm done. 

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Aug 18, 2016
i applied online

i applied online and then it said they can not process my request at this time i was confused since every single time i log in to my wells fargo they try to get me to apply for this loan then i do and they deny me they send me some papers through the mail telling me i have a credit score of 682 then  a chart of how my credit compares to other consumers. and then a brief statement on  why its important to understand? This was way more confusing i know how credit works and understand it i dont need to know how my credit compares to other credit scores i have absolutely no negative marks on my credit score never missed a payment on anything i am sure im working my way up to a perfect credit score i have 20k$ in credit cards and only use 2k$ the only reason i applied for this was to pay it back as soon as i could and raise my credit score this is very annoying and wish i wouldve known i wasnt going to get it now there goes a hard inquiry!

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Jul 31, 2016
Jondb8 Borrower

Hi I recently got approved for a personal line of credit with Wells Fargo. I was wondering if anyone knows if the line of credit will show on all 3 credit bureau? I called Wells Fargo and the lady said it will not show.. Only if you missed a payment is this true?

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Aug 01, 2016

What was you credit score?

Jul 21, 2016

The worst!! Think twice before applying!!

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Jul 14, 2016
Great Experience on a Personal Loan
Anonymous Borrower

I had a great experence. I called over the phone and asked a few questions before applying. I was approved in minutes with a Fico score of 731, which came from the consumer report they gave me. I called by noon and had a check by 4PM on a Wedesnday. I have been a customer for over 3 years and I also have a credit card with them. My APR was 7.45 on 10K at 36 months. I plan on paying it off in 18 months or less.  

For all of those people that applied for a personal loan without banking at WF.. A bank will need  trust to lend you a "personal loan" - Hence the name..

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Jun 20, 2016

I've been with this branch since 2006, good credit, and have personal and business accounts with them. Came here today to get a personal loan to reconsolidate old debts with high interest rates to continue my uphill credit score, hoping to get to the point of a mortgage loan. After today....FORGET IT! Got denied with a 690 score because this bank is, "too conservative!" I'll be opening a few bank accounts with better banks in the area, Wells Fargo also has a number of noteable detailed bad reviews on... My suggestion: steer clear of them or you'll end up with a hard inquiry on your credit negatively affecting you for nothing! What a waste of my time! 10 years wasted with them!

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Jun 19, 2016

They wasted my time and after being a good long time customer lady said I was not approved.Ive had it!

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