wells fargo credit card

Read your cardholder agreement. There is likely a clause in it regarding default and actions they can take. One of those is likely their ability to withdraw funds from your checking account to cover your credit card.

Yes, most banks that offer credit cards in addition to traditional bank products usually have a "right of offset" clause in their contract. Meaning, if you have other assets with that bank, they will take the money from those accounts to apply towards the defaulted credit card.

Take nascardevil's advice and be sure to read that cardholders agreement, and any of those "amendments" you get with your statements, carefully.

Thanks Ron! Couldn't remember the name of the clause! :twisted:

Yeah, unfortunately, having worked at a bank myself I had to explain that to account holders on a daily basis.

Bad memories.

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