My husband and I have a Home Projects Visa thru Wells Fargo. Recently, we were contacted by a rep from a local Wells Fargo Financial advising us that our "no interest for a year" was about to expire. Since I know that we have been paying interest for a year, I told him that I did not know what he was talking about. He repeated himself and I told him that if we were supposed to be getting no interest, we had a problem. So it was decided that we would come in a talk about getting the interest rate lowered on the card. When we arrived, the computers were down so he took down all of our info and we left. About a week later, he called and said that he had some things to show us. We went back. Once we got there, he told us all about how we could refinance my husband's truck and get extra money to pay down or off the Home Projects Visa. He advised us that the interest rate was 6.99% fixed. I questioned him on this and he said that "if it ever goes up, call me". He had all of the information written down, with a 3 and 4 year option. We took the 3 year option, signed the papers and walked away with a check. Last week, we received our first statement. I was very surprised to see an interest rate of 16.24% so I called him. To say the least when I pointed this out, he got very flustered and kept saying "oh my god, how do I explain this to you". At one point, he asked me to let him call me back on his cell phone, outside the office. I told him NO! I told him that he lied to us about the rate and that my paperwork conveniently was missing the page with all of the rates on it. I had page 1 of 6 and 3 of 6. 2 of 6 was the page with the interest rate. After a lot of him saying "what do you want me to do..." I told him that we would be talking thru lawyers and I hung up the phone. You would think the story end there.. it doesn't. After I went back to work, he sent me an email. In his email, he states that he is going thru a divorce, only gets to see his child every 2 weeks and that I was trying to get him fired. I emailed him to not contact me again. I contacted our credit union and signed papers on Saturday to pull the loan from Wells Fargo with a 5.99% rate!! I am telling everyone that I can to never deal with Wells Fargo. The reason we went in the first place, the Home Projects card, still has the higher interst rate. As soon as everything is paid off with that card, we will never do business with them again!
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