Wells Fargo & Company Credit Card Complaint

Wells Fargo & Company Credit card department,

Cash advance Texas

I received an offer to take a cash advance against my Wells Fargo Credit Card for a promotional rate of 3.9 % for one year, in the amount of $7500.00. I also use this credit card for purchases, and I made $5000.00 in purchases. I always pay off my purchases when the credit card bill comes in. So, when the bill came for $12000.00, I paid $5000.00, realizing that the interest on the $7500.00 would go against an outstanding balance that interest would be charged against. To my surprise, Wells Fargo applied the entire $5000.00 to the promotional balance, leaving the purchases unpaid, at an interest rate of 12.49 %. So, the upshot is that if you do n't use the credit card for ongoing purchases, you will probably get the promotional rate on the full amount of the cash advance for a year ( as advertised ). But, if you actively use the card, then the promo balance will be paid off in a few months, and you will owe a much higher rate on the purchases - which never got paid. None of the information about the promotion indicated that this is how payments would be applied. Wells Fargo did refund all the interest that I paid this month, but said I would need to call back every month and ask for the interest back - and they may or may not be willing to do this. Had I known that this was how they were going to apply the payments, I would have never used the promotion. I already had the $7500.00 on a loan with a 6.5 % interest rate, so I am worse off now.