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Wells Fargo Bank - Reasonable Cause?

Interest rate on unsecured line of credit - Complaint
Review by plank on 2012-03-12
Rating: StarEmpty StarEmpty StarEmpty StarEmpty Star
Today I received a letter informing me of a 2.5% increase in my unsecured business line of credit with Wells Fargo beginning in May.

I called customer service who informed me the bank had reasonable cause to raise the rate but it was nothing to do with my credit history. A supervisor then told me that the reasonable cause was all about current economic conditions.

The Fed rate seems unchanged so I can only surmise that Wells Fargo needs to make more money on the backs of those of us who are trying!
Same smiling faces, same lousy service.
Comments:1 Replies - Latest reply on 2012-03-12
Posted by tnchuck100 on 2012-03-12:
"Reasonable cause" is the business form of "Because we can"

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