Consumer complaint received 2024-02-24 00:00:00
Product: Credit card — Store credit card
Issue: Advertising and marketing, including promotional offers — Confusing or misleading advertising about the credit card
Company: WELLS FARGO & COMPANY
State: OH

Complaint narrative:
A few months back, I placed a call to Wells Fargo to confirm the end of a promotional period on a credit card. I was verbally told XX/XX/XXXX and began the process of making sure my account would be paid off in time, making multiple overpayments. 

In XX/XX/XXXX, I made the minimum payment on my account. My account balance after minimum payment was paid was {$230.00}. 

I received an email shortly thereafter detailing that my promotional period ended XX/XX/XXXX. 

On XX/XX/XXXX, I received an invoice from Wells Fargo detailing my new payment balance was {$420.00} and included {$260.00} in interest charges. On XX/XX/XXXX, I contacted their customer service line to inquiry why I received interest charges totalling nearly {$300.00} on a {$230.00} bill. I was told by " level 1 '' customer service that while I made many overpayments and received two different correspondence about my promotional period ending XX/XX/XXXX, I actually had two different promotions and that promotion 1 ended XX/XX/XXXX. According to Wells Fargo records, promotion 1 was not paid off in time. I inquired how that could be and was informed by " level 1 '' that Wells Fargo splits my payments on the back end between two different promotions and that according to how Wells Fargo splits my payments, I was not paid off in time and needed to pay {$110.00} by XX/XX/XXXX to avoid interest charges. I inquired who determines how my payment is split and was informed by " level 1 '' that there was no set formula. " Level 1 '' proceeded to tell me that my minimum payment of {$77.00} made in XXXX had a split of approximately $ XXXX {$7.00} between promotion 1 and 2. A prior payment of {$500.00} had a split of $ XXXX between promotion 1 and promotion 2. ( Total value of promotion 1 was {$1100.00}. ) After providing me with multiple examples, I asked how, if Wells Fargo was applying 90 % of all payments to promotion 1 over the course of a year, how promotion 1 could not be paid off by now? " Level 1 '' was unable to answer my question. I asked how I, as the consumer, could be made aware of this split since it is not detailed on my paper statement or my on-line statement. " Level 1 '' was unable to answer my question. I asked how I, the consumer, could have the discretion and power to point my payments properly to prevent this from happening. " Level 1 '' was unable to answer my question. " Level 1 '' then told me that if I paid off the {$110.00} today ( XX/XX/XXXX ), all interest charges would be waived. I told " Level 1 '' that I would pay off the entire thing because the practices of Wells Fargo were deceptive and I no longer wanted to do business with them. " Level 1 '' stated he would have to transfer the call to " Level 2 '' who could help me accomplish this goal. This portion of the call was recorded.

Upon being transferred to " Level 2 '', I asked the same questions asked of " Level 1 ''. XXXX was also unable to answer my questions. I asked XXXX where on my statement I could see was portion of my payment went to what promotion. XXXX informed it was not on my statement. I asked where on line I could see what portion of my payments went to what promotion. XXXX informed me it was not on my statement but it could be found in the fine print of the credit agreement. I asked XXXX how I could have paid nearly {$2500.00} over the course of a year and not have promotion 1 paid off by the XXXX date and why Wells Fargo verbally and via email provided me different information on the end of my promotion date. XXXX could not answer my question. I asked XXXX how if 90 % of all payments made were pointed to promotion 1, how promotion 1 could not be paid off. XXXX asked me where I got the 90 % figure from. I informed her " Level 1 ''. XXXX stated I was misinformed by level 1. I asked XXXX how much of a {$500.00} payment went to promotion 1 vs promotion 2. XXXX stated approximately {$350.00} - {$100.00} less than what " XXXX 1 '' quoted. I asked XXXX how they could have such vastly different information. XXXX was unable to answer me. I then informed XXXX that I would like to pay off the account in full and waive the interest charges as " Level 1 '' stated she would do. XXXX stated she did not have the authority to waive the interest as " Level 1 '' stated. I asked XXXX why " Level 1 '' would say that and suggested she listen to the recording or read the transcript of the call. XXXX indicated she was aware of the erroneous statement made by " Level 1 '' and she could move me up to the next level. I asked to be moved to the next level. XXXX stated that she was unable to transfer the call to the next level and they do not have outside phone numbers but would call me sometime in the next 7 to 10 days during regular banking hours to speak with me. 

On XX/XX/XXXX, I attempted to contact Wells Fargo customer service via email to detail my situation in writing. Wells Fargo does not provide a forum for this to happen. I was able to provide a very brief feedback/star rating. 

The information provided by Wells Fargo via phone calls, emails and on their own paper statements have been totally and completely misleading and erroneous. They have set up a system on the back end that the consumer has no control over to ensure interest charges are incurred. This is completely deceptive. As of XX/XX/XXXX, I have no resolution and I am not confident they have been forthcoming and honest.

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