Wells Fargo Credit Card Complaint

Wells Fargo Credit card department,

APR or interest rate California

On - -, -, we contacted Wells Fargo and spoke with - to confirm the terms and conditions of an online balance transfer offer. - advised us that since we had a $10000.00 credit line on our business credit card, that we could transfer $9800.00 to our checking account, and we would need to pay a one-time fee of 4 % of the balance transfer amount, up to a maximum of $170.00. - further advised us that the balance transfer would have a 0 % promotional interest rate for 12 months. Agreeing to the above terms, we moved forward with the transfer, and were provided a reference code. Soon afterward, we received a letter from Wells Fargo dated -/-/-, confirming the details of the transfer ; however, the letter omitted any information regarding the 0 % promotional rate that - had advised us that we would receive. We assumed that everything was correct, because no other rate was


On - - we reviewed our -/-/- account statement, and we noticed that we were being incorrectly charged interest on the balance transfer at a $ 23.99 % cash advance rate. We immediately contacted Wells Fargo and spoke with -, and we explained the situation to her. - assured us that she would submit the paperwork right away to correct the cash advance to be reversed, and instead to be re-processed as a balance transfer with a promotional 0 % rate, as we had been advised by - on -. - further assured us that the correction would be processed within seven to ten business days. We heard nothing else from Wells Fargo on the matter, so naturally we were led to assume that the correction had been completed as promised. Throughout the remainder of -, we had automatic payments made every month from our checking account, and we had no reason to review the electronic statements in detail. On -/-/- we prepared to pay off the promotional balance of what we assumed was the 0 % promotional rate, and we planned to do this prior to when the promotional rate was scheduled to end in -. At that time, we noticed that Wells Fargo had not corrected the interest rate on the account as promised, and had instead charged us the incorrect cash advance rate of 23.99 % for a total of $1900.00 in incorrect finance charges. On -/-/- we notified -, then -, then - as we were getting transferred from place to place and finally ending up at the Executive Offices, with a person who should have been able to correct this situation. However, instead of correcting the situation, - dismissed the situation as our fault, and basically told us that there was nothing that she could do for us except to lower the rate for a few months from the 23.99 % cash advance rate, to the only slightly less ridiculous rate of 16.24 % for purchases.