Consumer complaint received 2026-04-12 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:
In XX/XX/XXXX, I financed an HVAC system through Wells Fargo using a promotional financing plan. I set up payments to ensure the first promotional purchase would be paid off before its promotional end date. In XX/XX/XXXX, a second promotional purchase ( a warranty ) was added to the same account with a later promotional end date. Wells Fargo blended both promotional purchases into XXXX account but did not maintain compliant or accurate payoff schedules for each promotion. I continued making the same payment amount that was sufficient to pay off the first promotion on time. When the first promotion was paid off, Wells Fargos system automatically reduced my payment to the minimum amount without notifying me. This minimum payment was not enough to keep the second promotional purchase on track. As a result, the second promotional purchase fell behind even though I had never missed a payment and had never lowered my payment amount. Wells Fargo did not inform me that the payment schedule needed to change after the promotions were blended, nor did they provide a combined payoff schedule showing the amount required to protect both promotions. I have never missed a promotional payoff in the past and have consistently paid off promotional balances early. My credit score has remained above XXXX for years, and I have always made more than the minimum payment. This is the first time a promotional balance has failed, and it occurred solely because Wells Fargo lowered my payment without notifying me. In XX/XX/XXXX, Wells Fargo began charging interest on the second promotional purchase because the promotional period expired. Wells Fargo also applied retroactive interest, even though the promotional failure occurred solely because the system lowered my payment to the minimum without my knowledge or consent. During this time, I had recently lost my job and was taking care of family responsibilities, but I still continued making consistent payments. Wells Fargos failure to notify me of the payment change made it impossible for me to know the promotional schedule had been disrupted. During the dispute, Wells Fargo asked me to resign XXXX paperwork. The merchant confirmed this should not have been required. This appeared to be an adhoc attempt to recreate missing documentation during an active dispute. I contacted Wells Fargo multiple times to request an explanation, documentation of how payments were allocated, and a breakdown of how interest was calculated. Wells Fargo did not provide complete documentation and did not explain why the payment schedule was changed or why no notice was given. Their Executive Office told me they would contact me with a resolution by XX/XX/XXXX, but they did not follow up. I waited until the end of the week to give them additional time before filing this complaint. Because the interest charges were caused by Wells Fargos system lowering my payment without notice, I am requesting that Wells Fargo reverse the interest and refund the approximately {$1900.00} in overpayment that resulted.

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