Consumer complaint received 2015-03-27
Product: Credit card — 
Issue: Late fee — 
Company: WELLS FARGO & COMPANY (IL)

Complaint Against : Wells Fargo Financial National BankI was charged a {$25.00} late fee on a {$500.00} remaining balance for paying {$120.00} well ahead of the due date but not covering the full " minimum '' payment of approximately {$190.00}. When I explained the details of the situation, they did not acknowledge the best effort I made to be current and refused to waive the fees since in their determination it was not a Wells Fargo Error. The fee is unfair, and their choice to not waive the fee was a horrible busines practice and abusive in nature as it rested on " There is no beneift to us having to waive the fee '' Bankground Details : In XX/XX/XXXX I purchased a hot tup and took advantage of a dealer finance option that used a Wells Fargo Outdoor Solution credit card to provide XXXX months interest free financing. The total amount financed was approximately {$5500.00}. On XXXX I paid XXXX, on XX/XX/XXXX I paid {$2500.00} and knew there was a {$500.00} remaining balance. Given I had XXXX months interest free financing, I just diveded by XXXX and set my bill pay to send {$120.00} each month. On XXXX my XXXX {$120.00} payment was made. When I got a collection notice it showed the payment received but a late charge of {$25.00}. I immediately paid all the remaining principle of {$370.00} on XXXX and currently have a {$25.00} balance made exclusively of the fee. When I contacted Wells Fargo at XXXX they transferred me. The rep I spoke to spoke to his supervisor XXXX times about my situation and XXXX times said he could not waive the fee even after I explained the situation. When I asked to file a complaint, the rep was n't aware of anyway to file a complaint. He offered for me to speak with his supervisor. I spoke with supervisor " XXXX '' who said she would file a payment dispute. She continued to say they would not waive the fee as Wells Fargo did n't make an error. She kept saying they send out statements and that I just need to read them. My main point of frustation and complaint is that I was paying at an accelerated rate and made a best faith attempt to not only be current but pay more than required. What I failed to realize, is even though the account has credit card access they based the minumum payment on 3.5 % of the ORIGINAL balance. My accelerated payments did n't do anything to change the minimum on what I thought was a credit card account. Because I planned out my payment strategy up front, I did n't look at the billing as they came and did n't realize their unusual therefore to a small extent deceptive minimum payment process. When I asked how frequently they get these issues, they would not answer, which makes me think it is fairly common. I sincerely believe there is an ongoing business practice to extract fees from otherwise interest free accounts without regard to customer concern or reasonable waiver policies. They went as far to partially blame current regulatory environment for not allowing discretionary waivers. My hope with this complaint is to get the {$25.00} fee waived if possible, but more importantly to ensure Wells Fargo Financial National Bank is required to have a better complaint program than they seem to. They only took the billing dispute when I made them and did not know about any complaint program. Then to make matters worse the billing dispute can take XXXX days - my balance would have been paid off for over XXXX days by that point. They do n't need 60 days.