Wells Fargo Personal Loans Reviews

2.7 out of 5 stars
3 Reviews

From Borrowers in the last year

ADDITIONAL RATINGS YOU MIGHT FIND HELPFUL

Application Process

2.5 out of 5 stars

Customer Service

2.5 out of 5 stars

2.5 5

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These reviews were written by current and former borrowers in the last year.

Feb 25, 2017
car loan
Anonymous Borrower

great interated always very helpful and respectful

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Jan 06, 2017
Not a loan but a fraudulent activity rep
Anonymous Borrower

Call the customer service line reported fraudulent activity on my account. Charges I know nothing about. Sat on hold for over 2 hours and no one ever answered the phone. Hung up and called back and was put on hold again to sit there for another hour with no customer service. This is ridiculous I'm looking for a new bank.

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Dec 17, 2016
long process and wanted so much info
Anonymous Borrower

very long process i mean its only 5k and it took 5 days to process and they wanted documents on what the personal loan was going to be used for ??its called a personal loan for a reason,its ok for them to make felonuios account for people ,who do not want a loan and but when someone who really does want to get a loan they will hike the intreast rate high i mean 20 percent high, i intend to pay this within 6 mouths,i will never go back to them, as i was in a jam and this was kinda the only option. i will be going to credit union to get a better rate next time thanks for taking long and being over price. id advise check other banks as this will not effect credit score, as it is ran as a credit report do your reseach apply for a few and pick, i learned the hard way thanks ...

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1 Reply
Dec 22, 2016

Seriously? This is just ridiculous. Wells Fargo themselves did not open any fraudulent accounts. Their employees did, and those employees have been let go. And just because some unsavory people they had in their employ did shady things does not cast a shadow on Wells Fargo as a whole. Yes, they had heavy sales goals on their employees but those have been stopped. Therefore, your attitude about it is unwarranted.

In regards to the interest rate, it seems like you probably have some issues with your credit report. I know it stinks because I have the same issues right now but you can't be angry with Wells Fargo for seeing you as a risk if your credit history is not squeaky clean. That's just how it is. Just because you want a loan doesn't mean they need to give it to you, and as for how long it took it needs to go through an underwriting process so you would experience that anywhere. It could be faster, but the underwriting would still occur.

I work in this field and I understand how these things work. But trying to shine a bad light on Wells Fargo because they gave you a high interest rate is incredibly unfair.

Lastly, you stated that this was "kind of your only option" but that in the future you should do your research and apply for a few and pick. That is terrible advice, your credit could be damaged by applying for too many different credit products at once. If Wells Fargo ended up giving you the loan you should be thankful that you got the money in the first place because with the history you likely have credit-wise you are fortunate.

I bank with Wells Fargo and I find them to always be very friendly and I have never had any issues. In the future, please be sure to spell check your submissions because it seriously impacts your credibility. I hope that I have helped you to understand why certain things were the way they were. And please, in the future, don't try to use something happening in the media for personal gain. THAT is shady.

 
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**Annual Percentage Rates, terms of loan, and monthly payments presented are estimated and were created based on analysis of information provided by the consumer and available rate information from lenders. While efforts have been made to maintain accurate information, the loan information is presented without warranty and the estimated APR or other terms presented do not bind any lender. Lenders generally have a range of available APRs (for example, a lender’s range might be 2% to 12%) and only borrowers with excellent credit will qualify for the lowest rate available. Your actual APR will depend upon factors evaluated at the time of application, which may include credit score, loan amount, loan term, vehicle information, credit usage and history. All loans are subject to credit review and approval. Additionally, model year, loan-to-value, minimum loan balance mileage, income, debt, etc. restrictions may apply. When evaluating offers, please review the lender’s Terms and Conditions for additional details.