Consumer complaint received 2018-08-28
Company: WELLS FARGO & COMPANY
State: KS
Product: Credit card or prepaid card
Sub-product: Store credit card
Issue: Advertising and marketing, including promotional offers
Sub-issue: Confusing or misleading advertising about the credit card

Complaint:
XXXX XXXX XXXX XXXX XXXX XXXX XXXX, KS XXXX XXXX XXXX, Wells Fargo Dear CFPB, I am disputing an item on my last statement, dated XX/XX/18 because I believed I was misinformed of the promotion that XXXX XXXX store was offering us on their no interest rate for 18 months credit card at that time. Last year, my fianc and I came into XXXX located in the XXXX XXXX XXXX in XXXX to shop to purchase wedding rings. Once we decided to purchase the rings, I was planning to place the purchase on my personal credit card, but the sales rep informed us that they had a great promotion on their in-house credit card that doesnt charge interest for 18 months. It sounded too great to pass up. So, we inquired some more information on it to make sure we knew what the agreement was. The sale rep assured us that there would be no interest for 18 months and after that period all we had to do was pay the monthly interest and the balance. We thought it was a great deal so that way we can use more money towards our wedding. 
So, after the 18 months was over. We received our XX/XX/2018 statement with a balance of {$3700.00} with an interest charge of {$4300.00}. Coming to a total of {$8100.00}! We just thought it was a mistake for the interest charge. We called the credit card company and found out that there is a roll back interest charge since we did not pay off the balance within the 18 months free interest rate period. We were furious with the false advertisement that the store had given us so I immediate cancelled the credit card and requested to speak to management. I explained the situation to the manager on the shift saying how the sales rep mislead us and use deceptive marketing practice to lure us in with the promotion they offered but did not explain all the cost involved if it was not paid off within the 18-month free interest period. If that was the case, we would have used our own personal credit card if we had known or even pay off the balance before the free interest rate period expired. The manager on duty explained over the phone that it was in the contract and there wasnt anything that they could do but they can give us a discount if we were able to pay the balance in full in a set time. To me, I feel like they were well trained for this scenario and it seems like it wasnt a first time a customer called to complain about the roll back interest charge or their last. 
We agreed to the terms for the discount and have since than paid the amount of {$7000.00}. So, if the sales rep had explained this to us in person last year. We could have used our personal credit card or even pay off the balance before the promotion had expired. Please assist us in getting a refund on the interest we paid. We believe its only fair we not be charged for the roll back interest given that we paid off the entire credit card balance as soon as we discover the promotional rate they promised was false advertising.

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 monetary relief