Wells Fargo & Company Credit Card Complaint

APR or interest rate

Wells Fargo & Company Credit card department,

APR or interest rate New Jersey

When I applied for the - - American Express Card, I was told there was an introductory APR of 0 %. This was in the Terms and Conditions. Also in the T & C is a statement that no interest will be charged if the balance is paid in full by the due date. What is the point of a 0 % APR if interest will be charged regardless? When I called the bank, from whom I received the card, they told me that that was just the way the card works, no further explanation. I made purchases with the above mentioned card, and in my second statement was billed for nearly $20.00.

Wells Fargo & Company customer in New Jersey
May 24, 2016

* Source: CFPB Complaint Database

Wells Fargo & Company response to complaint:
Closed with monetary relief

Created with Highcharts 4.2.3Wells Fargo & CompanyComplaint HistoryComplaints5/20166/20168/20169/201610/201611/201612/20161/20172/20170123456Source: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3Wells Fargo & CompanyAPR or interest rate77.3%13.6%4.5%4.5%Closed with explanationClosed with monetary reliefClosed with non-monetary reliefIn progressSource: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3National AverageAPR or interest rate0.7%48.7%24.3%9.2%7.5%9.3%0.2%0.1%ClosedClosed with explanationClosed with monetary reliefClosed with non-monetary reliefClosed with reliefClosed without reliefIn progressUntimely responseSource: Consumer Financial Protection Bureau

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