Wells Fargo
Late Fees Added to No-Interest Mattress Financing Despite Prepayments

Late in 2008 I purchased a mattress and a head board from Mattress Giant for $2472.46. This purchase was financed by Wells Fargo at no interest and no payments until 12/31. I told the sales person that I would make payments anyway and it will be paid before the due date as is my practice. Around May I was charge a late fee and told Wells that I have been prepaying the account, and that they needed to correct their files because there was a misunderstanding about the type of credit.

They removed the charge and I thought Wells would correct. Way ahead of the deadline (12/31), on Jan I paid off the balance not including the late fees (not on time based on their arbitrary schedule). I told them I had made payments every single month even though I did not have to, and these prepayments were more than their minimum. Ever since Wells Fargo has continued to add late charges to my account.

I consider this practice abusive and arbitrary. To add insult to injury, Wells Fargo has reported me to the credit bureaus which prompted my bank to cancel my line of credit. Mind you this is the only negative entry on an otherwise perfect record. There is more, Wells Fargo has not stop calling me about this phoney balance and even harassing me at work.

Company: Wells Fargo
Country: USA

  <     >