Wells Fargo & Company Credit card department,
In - - I requested a balance transfer in the amount of $4500.00 ( 0 % APR till - - with 4 % one-time balance transfer fee ). It was approved by my Wells Fargo credit card and I paid $180.00 balance transfer fee in - -. At that time I also had a balance of $1700.00 as a result of my credit card purchases. In - - I made a payment in the amount of $1800.00 to pay off my credit card purchases. I assumed that Wells Fargo would no longer charge me interest fees as I already paid for my purchases and for my balance transfer. In - - my balance was $4200.00. However, later I discovered that they were charging me interest fees. Overall during the next 4 months they charged me $70.00 in interest fees. At the -/-/- I called them and was assured that this is a mistake ( usually clients ' payments apply to a higher-interest balances ). They promised me to look into that again and fix everything within 3-4 business days. About a week later I called them again and they took completely different position. They told me that they divided my - payment between my balance transfer and my purchases balance ; therefore, they charged me interest fees. I did not plan to pay my balance transfer in full or partially before - -. I only planned to make minimum payments. So, I am puzzled why they divided my - payment and did not apply it to my purchases balance. I attached all my statements. Thank you, -.
Wells Fargo & Company customer in Nevada
Jun 10, 2016
* Source: CFPB Complaint Database
Wells Fargo & Company response to complaint:
Closed with explanation
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