Wells Fargo & Company Credit Card Complaint

APR or interest rate

Wells Fargo & Company Credit card department,

APR or interest rate California

Dear Consumer Financial Protection, I had a $10000.00 secure credit card with Wells Fargo. They keep my funds to use as collateral. However, I do not receive any interest from them for them keeping this $10000.00. What I am surprise at is that when I make payments it does not being applied to the old transactions first WHICH I AM BEING CHARGED INTEREST ON even though they are holding $10000.00 which I collect no interest from but on top of that payments I made are being apply to most recent transactions which accrue less interest. I have paid over $450.00 in interest at least and get no interest from the collateral they hold which is a double whammy.

Wells Fargo & Company customer in California
Sep 08, 2016

* Source: CFPB Complaint Database

Wells Fargo & Company response to complaint:
Closed with explanation

Consumer disputes how Wells Fargo & Company handled their complaint

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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