Wells Fargo Credit card department,
Wells Fargo - credit card approved me a promotional offer of no interest if paid in full within 18 months. Half-way through the terms I noticed the company was not charging me equal payments but slightly lower payments to ensure that I would be required to pay the full interest amount at the end of the term. After noticing this, I put down several large payments to remove the balance. The balance was paid on time before the end of the promotional period but I was still charged the $4000.00 in interest. During a phone call to the company, the representative stated that my last payment ( $370.00 ) was partially applied to another purchase ( amount of $290.00, to a balance of $850.00 ) instead of paying off the remaining balance of the 18-month promotion ( $230.00 ). The representative said that the terms I signed up for did not state equal payments nor were they required to expend the minimal payment amount to the oldest promotional balance first. This is a predatory tactic aimed to trap the consumer. Please resolve.
Wells Fargo customer in Maryland
Oct 28, 2015
* Source: CFPB Complaint Database
Wells Fargo response to complaint:
Closed with monetary relief
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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