Home Improvement Project Visa from Wells Fargo, interest charges

This is a discussion on Home Improvement Project Visa from Wells Fargo, interest charges within the Credit Cards, Banking, Securities forum, part of the Other Business & Finance Law Issues category; I used a Home Improvement Project Visa from Wells Fargo to finance my deck and fence. The offer I signed ...

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Old Mar 25th, 2010, 09:17 AM   #1
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Default Home Improvement Project Visa from Wells Fargo, interest charges

I used a Home Improvement Project Visa from Wells Fargo to finance my deck and fence. The offer I signed was a 6 month no interest option. At the end of my 6 months I transferred the balance of the card to another lower interest credit card. Wells Fargo charged me 6 months worth of interest and finance charges at 27% totaling an additional $1,000.00 because I missed my 6 month payoff date by a couple of weeks. I expected to pay interest on the money for the couple weeks I missed but they back charged me for the whole 6 months. That clause was not in the agreement I signed nor was that ridiculous interest rate. No one informed me that I would be responsible for 6 months of interest and fee's at the time I signed up for the loan. I refuse to pay the additional amount and wish to know my legal options and I seek representation in this matter.
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Old Mar 26th, 2010, 11:39 PM   #2
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Default Re: Home Improvement Project Visa from Wells Fargo, interest charges

I wish to inform you that interest can only be charged as per contract. If your contract provides that you will not be liable for interest then you will not be required to pay interest. Further, in this the terms that if you are late then you may be charged interest and from which period you will be liable is also governed by your contract. In case the contract is silent then you may be made to pay interest for the delay but not for the original period of six months as for the original period of six months it was agreed that there will be no interest. You can also speak to the customer service of Wells Fargo to resolve the problem.

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Old Jan 10th, 2011, 10:42 AM   #3
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Default Re: Home Improvement Project Visa from Wells Fargo, interest charges

You're either a liar or an idiot. Read the fine print.
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Old Mar 20th, 2015, 03:50 PM   #4
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You're either a liar or an idiot. Read the fine print.
Wells Fargo people are liars, it is a rip off
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Old Mar 20th, 2015, 04:29 PM   #5
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Default Re: Home Improvement Project Visa from Wells Fargo, interest charges

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I used a Home Improvement Project Visa from Wells Fargo to finance my deck and fence. The offer I signed was a 6 month no interest option. At the end of my 6 months I transferred the balance of the card to another lower interest credit card. Wells Fargo charged me 6 months worth of interest and finance charges at 27% totaling an additional $1,000.00 because I missed my 6 month payoff date by a couple of weeks. I expected to pay interest on the money for the couple weeks I missed but they back charged me for the whole 6 months. That clause was not in the agreement I signed nor was that ridiculous interest rate. No one informed me that I would be responsible for 6 months of interest and fee's at the time I signed up for the loan. I refuse to pay the additional amount and wish to know my legal options and I seek representation in this matter.
You need to read the credit agreement for the account that you signed.

They are lengthy, but they are important. If there is no such clause, only then do you have any rights to protest the charges.
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Old Mar 20th, 2015, 09:55 PM   #6
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Default Re: Home Improvement Project Visa from Wells Fargo, interest charges

This thread is from 2010.
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Old Mar 21st, 2015, 03:43 PM   #7
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Default Re: Home Improvement Project Visa from Wells Fargo, interest charges

I guess there are things that do not get better with age.
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