Wells Fargo Credit card department,
Hi - I have - interest rates on my WELLS FARGO - VISA card : ( a ) Purchases at 15.240 % ( b ) Cash Advances at 23.990 % - of my purchases was applied to the Cash Advance Balance, so I am being charaged - interest rates. But my payments are only being applied to the lower interest rate -. According to this the new Credid Card Reform Law of 2009, credit card companies must apply payments minus required minimum payment amount, to the highest interest rate balance on the card. '' - That 's not happening. WELLS FARGO is applying payments ALL to the BALANCES with the LOWEST INTEREST RATES - I called Wells Fargo today ( -, -/-/15 ) for 1hr 15minutes, explained the situation over and over again. Eventually a representative said, there was nothing they could do, this is their company policy. '' When I informed them that this was against federal law, the representative still said there was nothing to be done. Aside from the fact that this will cost me thousands of dollars - this is just plain illegal. Let 's please enforce this law on Wells Fargo and protect me and other consumers like me. Thanks-
Wells Fargo customer in California
May 31, 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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