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Wells Fargo Financial / never again!

1 United States Review updated:

I bought some Lazy Boy furniture because it came with an 18 month SAC financed through Wells Fargo. I made payments enough to pay it off in the 18 months. Unfortunately I also used a portion of the "credit line" for other purchases. I made payments enough to pay off the furniture but Wells Fargo applies your payments however they want. I even made a large payment over $1000 which was supposed to be applied against the Lazy Boy account. They applied it to the credit card instead. Then they hit me for the finance charges on the furniture. So the SAC program with them is a bogus scam. Don't Fall For It! Their website allows you to make a payment but you cannot direct it towards what they call a "sub" account. And you can't check your account balance or see how your payments were applied. There also isn't a place on your statement to show that you can direct any over-payment to one account versus the other. I'll never do business with them again. Think maybe I will go to CitiFinancial.

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  • Do
      26th of Mar, 2009
    0 Votes

    i so strongly agree!!! Wells Fargo is a ripper!!! how come such a financial institution still exists!!! i hope it goes bankrupt really soon!!! they are Predators!!!

  • Sa
      8th of Jan, 2010
    0 Votes

    We applied for a Consumer Credit Loan with Wells Fargo through a local Mattress Giant outlet. We took it out only because of the "No Interest" promo if regular monthly payments were made and the loan was paid off within a specified amount of time. Everything was fine for the first ten months, the in October on 2009 they changed their account number system from a 9-digit number to a 16-digit number. We received one last statement in October of 2009, and now it has hit the fan. First we received a call on a Saturday when the November payment was 6 days late, basically demanding a payment in excess of two months minimum payment to "bring the account current". But we had already accrued a $39.00 late fee. This was supposedly waived as a courtesy by the phone rep, but I have nothing in hand to indicate this is the case. We have still not received a current statement since Oct. 10th of 2009. The phone representatives are inconsiderate and surly, and their pat line is "the statements were mailed out" and they have no reports of any statements being returned to them. I have received every other piece of mail I expect: mortgage statements, car payment notices, utility bills, other credit cards, all with NO PROBLEMS except for Wells Fargo. The account was opened in my wife's name, but she is now ill and takes medication that has her going to sleep at 4 in the afternoon, so I have been trying to deal with Wells Fargo. First she had to authorize me with them to discuss anything, which I understood, but when I asked to speak to a supervisor, I was told only the account holder could ask for a supervisor. I woke my wife in the evening here on the East coast to call them before they closed, as they're not open on the weekends. When she got a supervisor on the line and tried to authorize me to speak to them, he told her that he could only talk to the account holder and that if she put anybody else on the line, he would disconnect the call. We tried to have a three sided discussion while my wife was woozy from the medication she takes, and this "supervisor" would only say the problem was at our end and Wells Fargo did everything they are supposed to do, ie: mailed the statements. When we asked for copies of the missing statements, we were told we had to write a letter to the Billing Department. Couldn't even call them and ask for them. Their web site is a joke, only allows you to make a payment. So info as to due dates, minimum amount due, balance owing, nothing!!! You are totally at the mercy of the paper statements, which are still not coming. I am going to my local State Attorney General's office and the BBB on Monday to lodge formal complaints. Hopefully it will do some good. In the meantime I intend to tell everybody I talk to everywhere I go, grocery store, gas station, work, Walmart, everywhere, how terrible it is to do business with this insult of a "consumer" finance company. BEWARE and DO NOT GET INVOLVED with WELLS FARGO.

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