Consumer complaint received 2019-10-25
Company: WELLS FARGO & COMPANY
State: OR
Product: Credit card or prepaid card
Sub-product: Store credit card
Issue: Problem when making payments
Sub-issue: Problem during payment process

Complaint:
My husband and I opened a Wells Fargo XXXX XXXX account in XXXX this year to purchase a couch. We thought that this account was going to have a 0 % interest on it for two years. However, we received our first statement in XX/XX/XXXX, for a payment due XX/XX/XXXX after receipt of the furniture. I have now received 7 statements, made 8 payments - yet I am somehow charged a late fee every month since XX/XX/XXXX, and the payment I make is not applied to the payment due date ; it is just applied to the balance. The problem lies in that I pay all of my bills for the coming month on or about the XXXX of the month when I receive my paychecks. What this means is, according to Wells Fargo - I'm paying my payment too early. See, my billing cycle doesn't end until the XXXX of each month, so therefore, I shouldn't pay my bill till after the XXXX of each month. I did not realize this until I received my XX/XX/XXXX bill and started wondering why in the world was I receiving late charges. So I called Wells Fargo in XXXX. The gentleman I spoke to shared with me that I shouldn't be paying till after the XXXX of the month, and during that call, he noted that I had sent a payment that was received XX/XX/XXXX, acknowledged that I meant that to be for the payment due XX/XX/XXXX, and would make sure to apply it as such. That did not happen according to my XXXX statement, which indicated that my XX/XX/XXXX payment was never received, I had another late fee, and an outstanding balance. I called Wells Fargo again on or about the week of XX/XX/XXXX, and the lady I spoke to said that she would look into this. It is now XX/XX/XXXX, and I still have an outstanding balance of {$70.00} due XX/XX/XXXX because the XXXX payment was not applied to my payment due, and the {$200.00} I sent in for the XXXX payment was not enough to cover both months of payments. Wells Fargo assigned a case # to my complaint today, yet I still have to pay the {$70.00} before Monday in order to keep my credit report from indicating that I have missed yet another payment and have yet another outstanding balance. I am highly frustrated with Wells Fargo - the 0 % doesn't actually result in zero extra charges with this tricky don't pay until after your billing cycle clause - they're getting their extra money with the monthly {$38.00} charges I receive because I pay my bills early. The gentleman I spoke with today, XXXX, told me in a disrespectful tone " You shouldn't pay your bill early - that's why we put it on your billing statement. '' It also frustrates me that I have had 4 phone call conversations with Wells Fargo over the last couple of months regarding this issue - and all because I pay every bill due during the coming month on the XXXX of the month, a habit I practice to ensure what I can on my credit. That doesn't work out if you have an account with Wells Fargo. Their tricky clauses ensures they will get their extra money despite a claim of 0 % interest for a period of time. I plan to never do business with Wells Fargo again.

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