Consumer complaint received 2016-04-26
Company: WELLS FARGO & COMPANY
State: NJ
Product: Credit card
Issue: Payoff process

Complaint:
XX/XX/XXXX/XX/XX/XXXX, prior to utilizing the 0 % promtion on purchases, called Wells Fargo to ask that if I used a 0 % interest for {$10000.00} and then initiated another o % transaction a few months later, would all my payments apply to the first 0 % balance done in XX/XX/XXXX and I was told yes. Based on this information I did the the 0 % interest which expires XX/XX/XXXX and I made significant payments to pay off the balance on the 0 % interest. By XXXX XXXX I had already made $ XXXX + in payments towards paying off the 0 % interest from XX/XX/XXXX. In XX/XX/XXXX I called to confirm my balance and I was told that the first agent gave me the wrong information ( I raised the issue to Wells Fargo customer service and I was told that they listened to the initial conversation I had with the agent, and the information provided was indeed incorrect ). I was then informed that rather than the less than $ XXXX balance I had to pay was more like {$4900.00} and that my payments were applied at a larger percentage to the second 0 % transaction I initiated which expires later in the year / XXXX XXXX. I was then told as a resolution interest fees would n't be charged for the first 4 months after the expiration of the 0 % in XX/XX/XXXX, and the interest charges incurred would be automatically reversed and credited back to my account. The interest was " automatically reversed " once. 
In XX/XX/XXXX, since so many errors were happening, I called to confirm my balance payment and I was told it was now $ XXXX. I was confused since any purchase I made I paid within the billing cycle as to not accrue any interest or incur additional fees. So I emailed Wells Fargo for clarification, they told me the agent I spoke with who gave me the $ XXXX figure was incorrect and that it was a different amount. In the email I specifically asked how much is the payment I need to make in order to pay-off the 0 % interest without incurring any fees, I was now told that I needed to pay by XXXX XXXX XXXX another new amount of {$5700.00}. As instructed I went into the bank and made the payment by the XXXX XXXX deadline. I then emailed Wells Fargo to say the payment amount specified was made on time, and so the original 0 % interest is paid off. I then receive a response from Wells Fargo telling me that the agent gave me the wrong information and I need to pay more money to pay-off the balance, an additional {$1200.00}. And that this was a good learning opportunity for them ... and the client assumes financial responsibility of payments. How can I assume financial responsibility if Wells Fargo cant even give a client correct information on what they owe. Now I owe {$1200.00} that I can not pay on time because I based my financial outlook on the last revised payment. Wells Fargo can not keep changing the goals and expecting the clients to be able to meet this and still sustain other financial obligations.

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