Consumer complaint received 2026-01-11 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Fees or interest — Charged too much interest
Company: WELLS FARGO & COMPANY
State: GA

Complaint narrative:
Subject : Complaint Against Wells Fargo for Deceptive Payment Allocation and Predatory Interest Practices To the Consumer Financial Protection Bureau : I am filing this formal complaint to report Wells Fargo for what I believe to be malicious, deceptive, and unfair practices regarding the allocation of credit card payments. These practices are designed to entrap customers in debt and generate illegitimate interest charges, directly violating the spirit of consumer protection laws. 

Background of Relationship : I have been a loyal Wells Fargo customer since XXXX, maintaining checking, savings, and two credit card accounts. despite this long-standing relationship, the bank has engaged in predatory behavior that has caused me significant financial harm and distress. 

The Issue In XX/XX/XXXX, I accepted a promotional offer on my Wells Fargo credit card for a 0 % interest rate on balance transfers for 12 months. Since utilizing this offer, I have continued to use the card for new daily purchases. 

For the past four months, I have made substantial payments intended to cover my new purchases in full to avoid interest, while carrying the promotional 0 % balance. However, Wells Fargo has systematically misallocated my payments. Instead of applying my payment to the new, interest-bearing purchases, they have applied my funds toward the 0 % promotional balance. This malicious accounting trick leaves the new purchases unpaid, thereby generating daily interest charges on balances I attempted to pay off. 

Deceptive Customer Service and Failure to resolve I have contacted Wells Fargo Customer Service repeatedly over the last four months to resolve this. Their response has been inconsistent, misleading, and unhelpful : XX/XX/XXXX : I noticed payment misallocation. Customer service explicitly instructed me to pay the minimum due first, followed by a separate payment for my new purchases. They assured me this second payment would apply to the " highest interest balance '' ( the purchases ). This was a lie. I followed their instructions, yet Wells Fargo still applied the funds to the 0 % balance, triggering further interest charges on my purchases. 

XXXX, XXXX & XX/XX/XXXX : The issue persisted. When I demanded an explanation, agents provided vague answers and ultimately suggested that the only way to avoid interest was to " pay the entire balance in full. '' This suggestion is absurd and predatory ; it negates the entire purpose of the 0 % balance transfer offer. If I had the funds to pay the balance in full immediately, I would never have engaged in the financial product to begin with. 

Comparison to Industry Standards : This practice is clearly a choice by Wells Fargo to exploit customers. I hold a similar account with XXXX, where I also carry a promotional balance. XXXX correctly allocates payments in excess of the minimum to high-interest purchases first, allowing me to utilize the card without penalty. Wells Fargos inabilityor refusalto do the same demonstrates a lack of good faith. 

Impact : Wells Fargos deliberate obfuscation of payment hierarchy has resulted in unjustified interest charges and significant frustration. They are effectively penalizing me for using the very product they marketed to me.

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