Wells Fargo Credit card department,
I agreed to accept a credit card from my employer Wells Fargo a year ago at 0 % apr. No interest was charged at that time. I had - credit at time of application, so was not a credit risk at all. It was not clearly disclosed that the 0 % apr was introductory and the actual interest was 21.15 %. I only discovered this when I ran up a balance of $9500.00 and discovered my monthly payment would not cover the $ 170+ monthly interest payment. I called several times and wrote a letter to ask help with the interest rate showing that I could never pay this card off at the predatory rate they had given me. I was refused any kind of forbearance or help of any kind. I paid off the account recently by mortgaging my car. I believe that the failure to CLEARLY disclose the exorbitant interest rate and that the 0 % was introductory was predatory lending.
Wells Fargo customer in Texas
May 11, 2015
* Source: CFPB Complaint Database
Wells Fargo response to complaint:
Closed with explanation
Submit a complaint with the Consumer Financial Protection Bureau today
File ComplaintWebsite | http://www.wellsfargo.com/ |
Phone | (866) 249-3302 |
[email protected] | |
Address | 420 Montgomery St Frnt San Francisco CA 94104 |
Wells Fargo | |
Wells Fargo |
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