Complaint Review: Wells Fargo Credit Card Services

Wells Fargo knows by now that I have a problem with the way "they do business" whether it is ethical or unethical... it is just not in the best interest of society. I am trying to start a business. I am trying to develop my artistic career. I rely pretty stinking heavily on this credit card to get me from one place to another and I don't always have cash available to back up what I am charging because in this part of the world... the economy still looms at an all time low. I cannot seem to pay the card off because there is nothing there to pay it off with even when I work 60 hours a week.

But it turns out there was a computer related error. I had made a payment to compensate for the interest charge. I know enough to do that because I went through this ordeal before. The payment did not reflect on my account at the time due to an inefficient billing process.

Ergo, they had to manually redo my billing statement to reflect that I had paid such prior to the date in question. So everything is fine and dandy now and I only owe at the moment what I normally pay which is okay because things like this usually result in a Domino Effect.

What the company in doing is perfectly legal and you are not being ripped off. You only had $17 left out of a $9000 credit limit. Sounds like youre only paying the minimum payment and your APR is kind of high. The interest ate up your $17 and put you over the limit which they can now charge you an over the limit fee, usually $39 plus your minimum payment. If you just pay the minimum each month, you will continue to be over your limit and will be charged a fee.

I suggest you pay several hundred dollars on your next payment to stop being over the limit and stop using the card. Also go to bankrate.com to learn about credit cards and to use one of their credit card calculators.

To use the calculator, you enter your balance; APR and minimum payment and it will show you how long it will take you to payoff that card by just making the minimum payment each month.

I have a $9000 credit limit but it never used to be that high. They kept on raising it and raising it.

You don't have to accept any increase in your credit limit from your credit card carrier. Anytime you get one of those "Congratulations! Due to your excellent payment history, your credit limit is increased to $$$", just call them and say "No, thank you. Please leave my credit limit right where it is." Even if you do accept, you don't have to keep charging.

A credit card is a revolving account. You may think you can extract your interest out of that and they shouldn't apply it to your credit limit, but that's the way credit cards work. Read your agreement. Doesn't sound like they're doing anything illegal, even if you don't like it.

Bottom line - stop charging on the card! If you stop incurring additional charges and start throwing every extra dime you're making toward the balance, you might get it paid off before you reach retirement. If you're only paying a couple hundred dollars a month toward this balance, you don't have it paid off for YEARS.

I have a $9000 credit limit but it never used to be that high. They kept on raising it and raising it. But, this is now where I find myself. Available credit for me right now is $17... well, that was yesterday. And I was at this point once before where I had to pay RIGHT NOW... an over the limit amount but it wasn't so high... just a few dollars. So, they are expecting me to pay $117.89 right now. And perhaps I should have mentioned this before but that amount is in addition to what I already am scheduled to pay them when it is due.

Therefore, Wells Fargo is charging me TWICE for interest and they are expecting me to PAY IT TWICE. Last month's bill was $225. This month it is $344.89.

Wells Fargo contacted me personally and said as to why it is there and it is because I didn't have enough credit in my account to cover the interest charge. The way I see it, I shouldn't even have to have anything in there to cover anything. I don't feel the interest charged should reflect on the account itself but be something that needs to be paid separate from the account along with a minimum payment on the account itself.

I figure I could have had my available credit up to $4000 (paid off) or so by now if it weren't for that very scheme of theirs.

Looks like the finance fees got you, $17 available credit on a $9000 credit limit than the monthly finance fees were billed to you which would be certainly more than $17.

By running so close to the limit put you in this situation, nothing W/F caused. You owe the fees plus this will escalte unless you chip it way down by $400-$500 and stop using it.

I don't think Oblama is going to be able to help you this time.