Consumer complaint received 2018-12-14
Company: WELLS FARGO & COMPANY
State: FL
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Problem when making payments
Sub-issue: Problem during payment process

Complaint:
WELLS FARGO business credit card Violation of the Card Act Misappropriation of payments made in excess of minimum payment required The Card Act requires issuers to apply excess part of your payment to the highest-interest balance first. 
I have SIGNIFICANTLY paid over the minimum to eliminate this balance, and I can prove that it has not reduced by much at all. 
You can get the idea in the simple notes included below : XX/XX/2018 statement XX/XX/2018 Overdraft protection for business debit card transaction. 
Protected using a cash advance applied to business credit card. 
{$1700.00} + {$68.00} fee = {$1700.00} total advance XX/XX/2018 statement shows cash advance total as {$1700.00} Min. payment due : {$92.00} Actual payment : {$110.00} Excess payment : {$27.00} XX/XX/2018 statement shows cash advance total as {$1700.00} Min. payment due : {$92.00} Actual payment : {$1500.00} Excess payment : {$1400.00} XX/XX/2018 statement shows cash advance total as {$1700.00} ( WHAT?! ) Min. payment due : {$100.00} Actual payment : {$700.00} Excess payment : {$590.00} XX/XX/2018 statement shows cash advance total as {$1700.00} ( DOUBLE WHAT?! Went up?! ) Min. payment due : {$120.00} Actual payment : {$1200.00} Excess payment : {$1000.00} XX/XX/2018 statement shows cash advance total as {$1700.00} ( DUDE, no way! ) Min. payment due : {$140.00} Actual payment : {$400.00} Excess payment : {$250.00} XX/XX/2018 statement shows cash advance total as {$1700.00} ( constant violations! ) Min. payment due : {$150.00} Actual payment : {$500.00} Excess payment : {$340.00} XX/XX/2018 statement shows cash advance total as {$1700.00} Min. payment due : {$160.00} Actual payment : {$1000.00} Excess payment : {$830.00} XX/XX/2018 statement shows cash advance total as {$1700.00} ( up AGAIN?! this is highly illegal ) Min. payment due : {$160.00} Actual payment : {$200.00} Excess payment : {$37.00} Upon multiple calls to the credit department, I've received different explanations. One manager told me that I can have excess payments ( once the minimum is met ) applied to the higher interest rate balance. I said that supposed to happen automatically. He told me to go into a branch and make a direct payment to that balance. ( But you can clearly see that I've paid in excess of what is due on the " advance '' ... but I'm charged an incredibly high interest rate for cash advances, as we all are. ) So they're not doing what's required by law ... and they're charging ME for it. 

I called back later that same night, and a different manager told me that I'd have to pay the balance off in total to remove that part of the bill. NO. No, I don't. I quoted the Card Act directly, and explained that this has been a violation perpetuated by WELLS FARGO since XX/XX/2018. ( 7 months ago! ) At this point, the credit card manager said I'd have to take this issue up directly with the WELLS FARGO customer service team, and she would file for them to call me directly with the next 2 business days. I'm still waiting for that call.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation