Consumer complaint received 2026-02-25 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: CA

Complaint narrative:
This Complaint Is a Continuation of a Prior CFPB Case : This complaint is a continuation of CFPB Complaint # XXXX, which was marked closed by Wells Fargo XXXX However, the matter remains unresolved. While Wells Fargo offered to waive {$8800.00} in deferred interest, they conditioned that waiver on my immediate payment of {$18000.00} in full by XX/XX/XXXX. I do not consider this a fair or reasonable resolution. On XX/XX/XXXX, I submitted a credit card application through XXXX XXXX after being informed by their sales representative that there was a promotion advertising 0 % APR for 12 months. I initially went to the store prepared to pay for my appliances in full using funds I had already reserved. However, based on the representation that the financing was 0 % for 12 months, I chose to apply for and use the Wells Fargo credit card instead. At no time during the sales process was I clearly informed that : The promotion required the balance to be paid in full by XX/XX/XXXX ; and If not paid in full, interest would be added retroactively from the original purchase date at XXXX XXXX XXXX. If that material condition had been clearly disclosed, I would not have opened the credit card and would have used my original funds. I made consistent monthly payments throughout the promotional period. On XX/XX/XXXX, I logged into my account and discovered that {$8800.00} in deferred interest had been added to my account. When I contacted Wells Fargo, I was informed that this was a No Interest if Paid in Full promotion and that interest had been accruing from day XXXX but deferred. This critical condition was not clearly explained to me at the time of sale. During the banks internal investigation of my prior CFPB complaint, and while that investigation was still open, the representative who originated the loan contacted me directly. During that call, he acknowledged that he was not aware of the deferred-interest term at the time the loan was issued. The very next day, while the investigation was still ongoing, I informed the Wells Fargo XXXX of this conversation. This admission further supports my concern that the deferred-interest condition was not clearly explained or understood at the time the credit was offered and accepted. Despite this information, Wells Fargo closed the complaint. Wells Fargo later offered to waive the {$8800.00} in deferred interest on the condition that I pay {$18000.00} in full by XX/XX/XXXX. If I declined, I was informed that I would remain responsible for the full balance including interest. In response to their conditional offer : On XX/XX/XXXX, I submitted a written response requesting waiver of the interest and the ability to continue paying the principal under regular installment terms. On XX/XX/XXXX, I sent a follow-up written communication. On XX/XX/XXXX, I called Wells Fargo and was told I would receive a callback. I have not received any response to my written communications, nor have I receive the callback. This issue remains unresolved because : The deferred-interest condition was not clearly explained at the time of sale ; The originating representative admitted he was unaware of the deferred-interest term ; The bank conditioned removal of the interest on immediate full payment ; The bank failed to respond to my XX/XX/XXXX and XX/XX/XXXX written communications and hasn't returned my XX/XX/XXXX call. I am committed to repaying the principal balance. I am not attempting to avoid repayment. I am requesting fair treatment and removal of retroactive interest that was not clearly and conspicuously disclosed. I respectfully request that Wells Fargo : Permanently waive the {$8800.00} in deferred interest charges ; Allow me to continue paying the remaining principal under standard installment terms ; Confirm that no adverse credit reporting will occur related to this dispute ; Review and address disclosure and sales practices related to this promotion.

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