Consumer complaint received 2025-12-04 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Problem with a purchase shown on your statement — Credit card company isn't resolving a dispute about a purchase on your statement
Company: WELLS FARGO & COMPANY
State: VA

Complaint narrative:
<body>Issue : Deferred interest charges applied due to misrepresentation and lack of disclosure by the merchant at the time of purchase, resulting in unexpected interest charges of {$640.00} + {$52.00} on a Wells Fargo XXXX XXXX credit card obtained through XXXX XXXX XXXX 

What happened : I opened a Wells Fargo XXXX XXXX  credit card on XX/XX/XXXX, at XXXX XXXX XXXX for a furniture purchase. I was told by the store representative that the financing would consist of simple monthly payments. No one informed me : that the financing was a No Interest if Paid in Full deferred-interest product, that interest would accrue from the purchase date, that two promotional expiration dates applied, or that I needed to pay the full balance before those dates to avoid interest. 

The representative assisting me appeared impaired and inattentive, and the transaction was rushed. Because of this, I did not receive adequate explanation of the terms and could not make an informed decision. 

What went wrong Wells Fargo later charged : {$640.00} in deferred interest after the XX/XX/XXXX expiration {$52.00} after the XX/XX/XXXX expiration Wells Fargo agreed to waive only the {$52.00}. 

I believe the much larger {$640.00} charge resulted from merchant misrepresentation, incomplete disclosure, and failure to communicate the promotional end dates in a clear manner. 

Why this is unfair or deceptive I was never verbally informed that failing to pay off the entire balance by the promotional deadlines would trigger over {$600.00} in retroactive interest. 

The store employee did not accurately or responsibly describe the loan terms. 

The terms were not explained verbally at the point of sale, which is required for customers to understand deferred-interest financing. 

The unexpected interest was a direct result of this lack of disclosure. 

Because of this, I could not reasonably understand the terms or take action to avoid these charges. 

What I am requesting I am requesting : Full waiver of the deferred interest charge of {$640.00}, Wells Fargo to restore the balance to what it would have been had proper disclosure occurred, and Review of merchant practices regarding special-financing disclosure. 

I am willing to pay the remaining principal balance, but I should not be financially penalized for terms that were misrepresented and not disclosed at the point of sale. 
</body> XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX I got the following back from Wellsfargo XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Thank you for contacting us. We completed our research and are providing details to address your concerns. 

At Wells Fargo, we pride ourselves on developing and maintaining strong customer relationships and strive to consistently deliver the exceptional service our customers deserve. Each interaction is an opportunity to demonstrate our commitment to 100 % customer satisfaction. 

In response to your concern regarding your account terms and conditions. We sincerely apologize for any confusion caused during your financing process. Please be informed that, as per your credit card agreement, your current Annual Percentage Rate ( APR ) is 28.99 %. At the time of your application, you agreed to the disclosed terms, which include a special promotional interest rate of 0 % for the specified period. Once this promotional term ends, interest will be charged if the entire balance is not paid in full by the due date. You are required to make monthly payments based on the balance on your account. For your reference, we are attaching a copy of your account Terms and Conditions, and we kindly request you to review all disclosures carefully. 

We understand the resolution provided may not fully alleviate your frustrations ; however, we hope the details in this communication are responsive to your concerns regarding this matter. If you have any additional questions or concerns regarding your account, please contact our Credit Card Customer Service at XXXX. Representatives are available XXXX hours a day, XXXX days a week. 

Case status We have closed the case as of the date of this letter. If we receive additional information, we will open a new case to address any remaining or new concerns.

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