Wells Fargo Credit Card Complaint

Wells Fargo Credit card department,

Billing disputes Georgia

I believe that Wells Fargo engaged in unfair, deceptive or abusive acts and practices ( UDAAP ) resulting in me suffering financial injury. I contacted Wells Fargo in - 2015, as an existing Wells Fargo customer to inquire whether they would be able to offer me a 0 % purchase rate on a credit card. I called the customer contact center and explained to the representative that I required a credit card with 0 % interest on purchases and that I was less interested in 0 % rates on balance transfers. I did not intent to transfer a balance. I was pleased to be informed that Wells Fargo would extend an offer of 0 % interest on all purchases made using the card for 12 months and 0 % on balance transfers for 12 months. The offer could be applied to my existing Wells Fargo credit card, which, at that time, had a balance of $0.00. The customer representative advised me that in order to activate the 0 % interest rate on purchases, I would be require to transfer a minimum of $100.00 to the credit card account. I thought this was an odd practice and sought clarification and I


$5.00 balance transfer fee. I then began using my card for purchases believing that I was benefiting from a 0 % interest rate. I soon found out that this was n't the case. I was being charged an interest rate of 21.15 % apr on each purchase I had made. I contacted Wells Fargo on several occasions and found that they were unwilling to discuss the matter in detail. The initial phone calls I made when I signed up to the offer were recorded and I have been informed that these calls have been listened to twice and that no banker error '' was identified, I spoke with a supervisor this evening who was dismissive and informed me that 50 % of the misunderstanding lay with Wells Fargo and the other 50 % lay with me. It is my understanding that the Trust in Lending Act requires lenders to explain the terms of their credit agreements in a standardized way so that consumer can make informed choices. I believe that the opposite happened here. I believe that information which would have influenced my decision was not disclosed by Wells Fargo. I also believe that my interpretation of this agreement was reasonable in these circumstances. Ultimately, I believe that I was misled by Wells Fargo.