Wells Fargo Shuts Down All Personal Lines of Credit

In this video, we talk about the choice Wells Fargo recently made to shut down all lines of credit. We look at the reasons why they may have made a choice like this, as well as the possibility this points to a future where it is harder and harder for banks to offer quality services to individuals. All thanks to central bank intervention and overstep.

My Courses and Guides🍎🍎

Gold and Silver🔥🔥

Bitcoin 💎💎

Stocks💰💰

Startups (not publicly traded) 💵 💵

Real Estate 🚀🚀

Misc ⚖️⚖️

My Trading/Investing Gear🛠🛠

Support the Channel💪🏼💪🏼

I am not a CPA, attorney, or licensed financial advisor and the information in these videos shall not be construed as tax, legal, or financial advice from a qualified perspective. Linked items may create a financial benefit for Heresy Financial.

#banks #wellsfargo #endthefed

[billsmith]

I have a different thought on why they did this. Banks did the same thing in 2007/2008. I think it's more credit tightening because they know their customers will default during the upcoming economic downturn. I would view this as a warning sign for that economic downtown.

[vvolfflovv]

They keep telling us how essential building credit is and now they take it away.

[kefalos]

That ending was the best “don’t ask me this is t the Graham Stephen Show”. 🤣😂

[johnbarker]

I had the misfortune at different times of both being their customer and working for a company owned by their venture capital arm. If they disappear from the face of the Earth it would be no loss to anyone.

[threelittlebirds]

They treat people like crap compared to other banks. I kicked them out of my life but then received a check written on WF account. I waited in a long line and they wouldn’t cash it until I talked with a manager. The “manager “ was just a salesman who tried to convince me to open an account, trying to lead me to believe they wouldn’t cash it. Creepy! When I had accounts with them they would add fees for no reason, I’d have to phone in and get the fees reversed. They always did so bc the fees were completely bogus. But really? I have to review statements to make sure my bank isn’t withdrawing money from my account???

[lawrencefitzgerald]

I just started watching your channel a few weeks ago, and I don't even ferment hide I came across it (YT algo most likely), but I love your perspective on financial events as well as your way of breaking down and explaining things to people who don't have a foundation in finance.

Now I want to go back and watch all of your videos from the beginning. Thank you for this channel!

[HealthcareBlockchain]

I was one of those people in the abusive relationship. Made my score go down and cost me a refi approval with another bank. Fyi, the letter they sent me explicitly said that since I did not have a checking account with them, they couldn't tell if I could pay down future draws. That implicitly tells me that were hinting at me opening a new dda with them. Sounds criminal.

[johngifford]

I have never heard of a happy WFB customer. How are they still in business?

[shortermama]

😂 Don't ask me. This isn't the Graham Stefan show. Hilarious! 😂

[tyjameson]

Joe cracks me up 😂🙌🏼“It will be better this time” 👍🏼Shame on Wells Fargo !!!

[matt-hew]

Have had WF since 2005, when I was 15. They recently sold off their student loans, now I have to pay a separate company for those, rather then doing it right through WF.

[jameswilke]

@5:50min - LOLOLOLOLOLOL! "And if you need some great recommendations on some banking alternatives, don't ask me. This isn't the Graham Stephan Show." Hilarious, Joe!

[Sci-Fi_Fan]

Well I'm a bit embarrassed to say that I have been far too forgiving to WF. I've been with them for over 20 years and have a line of credit from them. I'm shopping as we speak and plan to leave WF as well. So annoyed. Love seeing the growth of your channel though. Keep up the good work.

[Billionbucks]

I know people who love WF and BofA, they say they never have had a problem so why leave? I use a credit union because I don't have to worry about ridiculous fees to access my own damn account.

[jellyd.]

I love the burns all around lol Thanks for covering this topic. :)

[thenexusagency]

“People still banking with Wells Fargo” 😂😂😂

[nicolejennings]

I have been part of many banking institutions and by the grace of God never banked with Wells Fargo, just barely missed it because I was always working at some other bank.

[ProjectNineOaks]

Small community banks are where it's at! Went in for a residential construction loan and actually talked to a knowledgeable person about the subject. The community bank also brings in kids for field trips to learn about banking. Don't see Wells Fargo doing stuff like that!

[ant]

Does this mean they are shutting down credit cards? Thanks in advance.

[vicsch]

It's because people have learned how to use the heloc to pay off their home loans quicker than 30 years.