Consumer complaint received 2016-08-23
Company: WELLS FARGO & COMPANY
State: WI
Product: Credit card
Issue: Advertising and marketing

Complaint:
XX/XX/2015, I received an offer in the mail for a Wells Fargo credit card with a 0 % interest rate for 15 months. I decided it wise to apply for this card since I wanted to transfer a XXXX credit card balance with a 7 % rate to this account knowing that even with the Transfer Fee I was better off in the long run with the reduced interest rate. As directed from this mailing, I had the option to apply online and did so on XXXX/XXXX/15. On that same date at XXXX I received and email acknowledging that I had been approved for a {$5000.00} balance. Attached with this email was the Terms and Conditions for the card, clearly stating that I was approved for 0 % for 15 months that I had hoped to receive. 
Within a week or so I received a Wells Fargo cash back signature credit card in the mail. Shortly after receiving confirmation that I was approved for the 0 % card, I conducted a balance transfer from an existing XXXX MasterCard to the new Wells Fargo account. 
On or about XXXX/XXXX/15, I received my first statement ( see attachment B ) and noticed there was an interest charge in addition to the expected Transfer Fee of {$140.00}. On XXXX/XXXX/15, I called WF Customer Service number on the bill and spoke to a Wells Fargo rep who told me the card had a 12.15 % interest rate not a 0 % rate as promised. She stated she would look into why I did n't get the 0 % interest rate with the credit department and someone would get back to me. As of XXXX/XXXX/15, no one had contacted me with an explanation, nor did I receive any written explanation, so I again called the same customer service number and spoke with another rep. He looked at the notes and saw that on the same date I made the first call, my appeal was referred to the credit approval department and the decision was made to deny me the 0 % interest rate ... This denial however was never conveyed to me with either a phone call, mail or email. I wish to note that this rep was very helpful, friendly and understanding of my situation and also could not understand why I was told I was approved in writing for a 0 % rate, then later sent a card with a 12.15 % interest rate. He advised that I speak to the Credit Approval Dept. I did that same date and was told by a representative that there was nothing that could be done since, unbeknownst to me, I already have a Wells Fargo credit card account opened ( I have a Platinum overdraft protection XXXX that is scarcely used ). 
On XXXX/XXXX/15, I sent a letter to Wells Fargo Executive Offices, as directed by their Customer Service, to try and attain the 0 % rate as promised or at least a refund of my {$140.00} Transfer Fee. 
On XXXX/XXXX/15, I received a letter from Wells Fargo denying my request and referring me to page XXXX of the Terms and Conditions that essentially states existing customers are not eligible for this offer. These Terms were attached with the same email that approved me for the offer ... 
At this point I am now stuck with a 12 % interest rate credit card that cost me {$140.00} to obtain, to help pay off a balance on a credit card with a 7 % interest rate ... I 'm sure I do n't have to explain what little sense that makes. Here is my frustration, as stated, I was already approved in writing for the 0 % rate and had no reason to believe I was n't going to receive it as per the XXXX/XXXX/15 email and attachments. Even if I had known that such a rule applies that you ca n't have another WF card to get that rate, that rule was never disclosed in any forms or documents I received when I applied for the 0 % card, otherwise I certainly never would have applied for it. Furthermore, I never received any notice telling me I did n't qualify for the 0 % visa and I never asked for a 12.1 % Cash Back Visa and therefore should not have been sent one. Also what I find disturbing is that after the XXXX XXXX, 2015 call, I never received any word from Wells Fargo that I was denied the account or an

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