What is WFDS/WDS?
WFDS/WDS is a code you might find on your credit report, which stands for Wells Fargo Dealer Services/Wachovia Dealer Services. When you apply for an auto loan with Wachovia, it may appear as a hard inquiry on your credit report. Wells Fargo and Wachovia merged in 2008, consolidating their services under one brand.
The Impact of Hard Inquiries on Your Credit Score
A hard inquiry happens when you apply for new credit, and the lender or creditor runs a credit check. Common examples of situations that trigger a hard inquiry include applying for a mortgage, apartment, car loan, credit card, insurance policy, cell phone plan, or even a job.
While hard inquiries typically only drop your credit score by a few points, having too many in a short period of time can negatively impact your credit score.
The Difference Between Hard and Soft Inquiries
Soft inquiries, on the other hand, generally occur when a company checks your credit history as part of a background check or prequalification process. Soft inquiries can also be pulled by an existing creditor monitoring your current credit situation. Unlike hard inquiries, soft inquiries do not have an impact on your credit scores.
How long do hard inquiries stay on your credit report?
Regardless of whether you are approved for the Wells Fargo auto loan, the hard inquiry will stay on your credit report for up to two years. Each inquiry is recorded by one or all three major credit reporting agencies: Equifax, Experian, and TransUnion.
Dealing with Unauthorized Inquiries
If you find an unfamiliar inquiry on your credit report or are certain that you didn’t make the inquiry, contact Wells Fargo to clarify the reason for the inquiry. The creditor’s name should be listed under the hard inquiry section of your credit report.
Wells Fargo Auto Loan Contact Information
Address:
Wells Fargo Auto
P.O. Box 168048
Irving, TX 75016-8048
Phone number: (800) 289-8004
Can WFDS/WDS be Removed from My Credit Report?
If you find that the WFDS/WDS inquiry is unauthorized or negatively impacting your credit score, you can seek assistance from a credit repair company like Credit Saint.
They can help you dispute and potentially remove the following items:
- late payments
- collections
- charge offs
- foreclosures
- repossessions
- bankruptcies
Take Control of Your Credit Today
If you’re struggling with bad credit and need assistance, consider a free credit consultation with Credit Saint. They have experience helping individuals in similar situations and can guide you on the path to better credit.
Visit their website and fill out the form to explore your options and see what they can do for you.
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