How to Remove WFDS From Your Credit Report

Is WFDS hurting your credit score?

Credit Saint has successfully assisted countless clients in removing inaccurate and questionable credit inquiries from their credit reports.

What is WFDS?

WFDS is a credit report code that stands for Wells Fargo Dealer Services, a division of Wells Fargo Bank, N.A. This financial institution provides indirect auto financing solutions, including loans for new and used vehicles, as well as auto loan refinancing options.

Why is WFDS on my credit report?

WFDS may appear on your credit report as a hard inquiry if you have recently applied for auto financing with Wells Fargo Dealer Services (WFDS). This can happen in various scenarios, such as when you’re purchasing a car from a dealership that partners with Wells Fargo, or when you’re seeking to refinance an existing auto loan through WFDS.

The Impact of Hard Inquiries on Your Credit

What is a hard inquiry?

A hard inquiry occurs any time you apply for new credit, and the lender or creditor runs a credit check to assess your creditworthiness. These inquiries can be for various types of credit, such as mortgages, car loans, credit cards, insurance policies, and even certain job applications.

While hard inquiries typically only drop your credit score by a few points, having too many of them, especially in a short period of time, can accumulate and negatively impact your credit score.

What is a soft inquiry?

A soft inquiry, on the other hand, generally occurs when a company checks your credit history as part of a background check or prequalification process. Soft inquiries might also be pulled by an existing creditor who’s 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’re approved for the auto loan, the hard inquiry will remain on your credit report for up to two years. Each time you make an inquiry, it is recorded by one or all of the three major credit reporting agencies: Equifax, Experian, and TransUnion.

Handling Unauthorized Inquiries

If you don’t recognize the WFDS inquiry on your credit report, or you’re certain you didn’t initiate it, contact Wells Fargo and inquire about the reason for the inquiry. The creditor’s name should be listed under the “Inquiries” section on your credit report.

Wells Fargo Dealer Services Contact Information

Address:

Wells Fargo Auto
P.O. Box 168048
Irving, TX 75016-8048

Phone number: (800) 289-8004

Can WFDS be removed from my credit report?

If you believe the WFDS inquiry on your credit report is unauthorized or erroneous, you may consider seeking the assistance of a reputable credit repair company, like Credit Saint.

In addition to helping remove inquiries, they can also assist with disputing and potentially removing other negative items on your credit report, such as:

  • late payments
  • collections
  • charge offs
  • foreclosures
  • repossessions
  • bankruptcies

Take Action to Repair Your Credit

If you’re seeking expert credit repair services to enhance your credit profile, look no further than Credit Saint. With a solid reputation for assisting clients facing similar challenges, they have the experience and expertise to guide you through the process.

To discover the benefits they can offer, visit their website and complete the online form to receive more information on how they can help you achieve your credit goals.

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