Wells Fargo & Company Credit Card Complaint

Payoff process

Wells Fargo & Company Credit card department,

Payoff process Michigan

I have a jewelry account that is held through Wells Fargo. I have - promotional balances that are currently active. - is equal payments with a fixed interest rate of 9.9 % and - are interest free if paid within so many months ( interest rate if not paid is 28.24 % ). I paid additional payments that I wanted to apply to the no interest balances so that they would be paid off within the promotional period. Wells Fargo applied the additional payment to the balance with the lower fixed interest rate. I called them and they refused to re-allocate the payment. This will make it impossible to pay the balances that expire within the next 10 months unless I pay - payments of over $700.00 the last 2 months prior to the promotion expiration.

Wells Fargo & Company customer in Michigan
May 24, 2016

* Source: CFPB Complaint Database

Wells Fargo & Company response to complaint:
Closed with explanation

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