Consumer complaint received 2019-03-14
Company: WELLS FARGO & COMPANY
State: CA
Product: Credit card or prepaid card
Sub-product: Store credit card
Issue: Fees or interest
Sub-issue: Charged too much interest

Complaint:
on XX/XX/19 I went to a XXXX  dental office for a free consult. and by the end of the appt the dental office had some how in a very slick and quick manner conviced me that I needed all kinds of work done and when I said ok they opened a line of credit via wells fargo in the amount of {$8500.00}. and charged my " NEW ACCT '' a total of {$8500.00} for services I had not even received yet. not realizing the office had already charged the acct I made a 2 appt on XX/XX/2019 to start the work. after returning home from second appt I received my wells fargo credit card statement which included a new charge in the amount {$8500.00} with an interest rate of 12.99 % which is very high as my credit score is close to 900. I called wells fargo right away to question the how they can charge the high interest rate on A+++ credit and knowing that I have another credit card with them in great standing with a lower rate. I was told that they had no control of the rate and that the dental office has the control to lower it. How is that possible? The dental office had the card number before I even had a chance to get the card in the mail and read over the terms and see the rates. If the office would have let the paperwork and card to be sent to me before they charged it I would not have said no to doing the work. I never signed a credit app or was not aware or told the fees and rate just charged. when I asked the dental office why the whole amount of {$8500.00} was charged before any work was really done I was told that in order to have the teeth impreions made into mouth plates that they needed to be paid in full for them. so I was under the asumsion that the cost for making the mouth plates would be charged only. not the whole amount quoted for " Phase! '' work which by they way is the same amount of money no matter the patient or work to be done. I also never received an itemized invoice with item and amount for each in plain English so I can understand where the {$8500.00} was spent. I called the dental office and found out that they can or could change my interest rate would even give me 2 years with 0 % if paid in full at the end of 2 years. if not paid in full I would owe all the back interest rate and my rate would go back to the 12.99 %. how is it that the dental office can change or assign the rates and not the lending company? how is it that they can assign credit without looking at the credit score. they run a credit check to check credit but fail to get rates based apon the credit score. i have already closed the account in question and i am disputing the account and charges of {$8500.00}. And i stopped making contact with the dental office as well. and still don't have anything for the money that was charged. I feel that Wells fargo and XXXX XXXX XXXX XXXX, XXXX are practicing unfair and predatory credit card lending and unfair business practices.

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 non-monetary relief