Wells Fargo 5% and purchases counting against cash advance limit

[Tom Capone]

I recently was declined on a $2,500 purchase at a grocery store. I assumed I must have been closer to my credit limit than I thought, but when I got home and checked, my balance was $10.9K, my credit limit was $15K, and my available credit was $0. Notably, my cash advance limit is $10K. Thinking I was getting shut down, I transferred $1K of rewards to my credit card account. A few days later it posted, bringing my balance down to $9.9K and my available credit up to $100. I made a subsequent payment of $5K, bringing my balance down and my available credit up.

I checked last month’s statement and my balance was $9.4K, my total available credit was $3.6K and my cash advance available was $3.6K. It seems like some of my purchases are going against my cash advance limit, but I was not charged any interest.

Has anyone had anything like this with WF? I’m considering shelving it until I get this figured out. TIA.

 

[Tom Capone]

OK, issue resolved. I received a letter in the mail from WF saying they couldn't verify the ownership of a bank account that I used to pay the bill (online). It is my checking account and my wife's credit card account (with me as an AU). They want me to send in a voided check, a letter from the bank, or wait 25 days (at which point they'll release the available credit). I'll just wait the 25 days.

 

[Anh]

OK, issue resolved. I received a letter in the mail from WF saying they couldn't verify the ownership of a bank account that I used to pay the bill (online). It is my checking account and my wife's credit card account (with me as an AU). They want me to send in a voided check, a letter from the bank, or wait 25 days (at which point they'll release the available credit). I'll just wait the 25 days.

WF is a bit retarded with payments that don't come from WF checking account. There have been multiple reports of bill payment sent by CheckFreePay or other banks being held up for a few days to a few weeks. The best way is to send money to WF checking account, and then use the transfer feature to move money from your checking account to the credit card. You can also write a check a deposit at the ATM. All checks under 5000 should clear the next day. Some checks over 5000 will be held for a few days while some will clear the next day.

 

[darkeststar]

I had the same issue, but it seemed to get better once I had the card for a few months. It was really annoying, and assuaged any guilt I felt about having them pay $500+ towards my mortgage each month.

 

[Gustraveler]

Just got a notice and change in terms for the 5% Rewards Card. Now it says that excluded from 5x rewards at GGD stores are "store gift cards." Starting January 15, 2015. Not sure how they would enforce that necessarily unless they could know what exactly you were buying. Also, it seems like a vague term to say "store" gift cards. But just thought I would report this since I noticed it. My 6 months just ended but probably getting one for the wife.