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Thinking about getting a Wells Fargo Financial Splash Card?You better do your homework and then some!

That 0% interest for 6 months looks good but be sure to pay it off before the six months are up! My nightmare began with the purchase of a pellet stove from a retailer in my area. I purchased about $4300 worth of merchandise from them thinking that I would be able to pay off the balance or close to it in six months. Financial circumstances changed and that interest rate of an outrageous 23.99% turned my balance of $4300 into almost $4900 at the end of the six month period!!

These unethical thieves are making almost $600 in interest on a $4300 principal balance! I recently transferred most of the balance to another card with the exception of $610 which was my second largest mistake! Apparently they state that they sent out a change in terms letter advising me that my minimum due would now be based on my highest billed balance if I did not opt out! I received my "opt out" letter in an envelope conveniently identical to my statement.

I set it aside thinking it was just my statement. So, on a $610 balance my payments should be about $20 right??? WRONG!!! These thieves want $122.00 a month until the balance is paid off!!

They will do nothing to reduce this amount and state that since I failed to opt out then I agreed to the terms!

I strongly urge you boycott Wells Fargo like the plague.They will not think twice about ripping you off and I am proof of that!

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Anonymous
#323646

Correction...our payments went from $250 to $425, making the $250 payment $175 short. Proofreading, proofreading!

Anonymous
#323645

...Note on my previous 8/4/11 post: The salesman was from AMBASSADOR POOLS in Massachusetts, and I'm totally throwing THEM under the bus for the huge misrepresentation. Furthermore, we took money out of our retirement to pay off thieving Wells Fargo, who jacked up our interest rate into the stratosphere.

Anonymous
#323638

My husband and I bought a pool financed by a Wells Fargo. The pool salesman told us the payments would be $250 per month for 5 years, making it sound like it was an installment loan. A few days later he returned to our house with the loan documents to sign. Documents which definitely looked like any other installment loan I have seen. Anyway, it wasn't until after we signed the papers that the salesman mentioned "Splash Card." Card? "Oh yes" he said. He explained it was actually a line of credit, but so long as we didn't use it for anything other than the pool, our payments would stay at $250 per month. We set the $250 payments up with our automatic bill pay through our bank. Because Wells Fargo was receiving their $250 on time every month and because the salesman said that figure would never chance, we simply filed our unopened statements away. The following February I received a phone call from Wells Fargo asking if I would like to make a payment on my delinquent Splash Card account. What? Delinquent? How could that be? Yes, delinquent in the amount of $475, and would I be making that payment today by phone?

Bottom line was this. The salesman knowingly lied to us. It was not an installment loan. It was a credit card. Had we not been so mislead, we never would have done that. Really, who buys a pool with a credit card?? Our payments had gone from $250 to $375, making our monthly $250 payments $175 short. It was not until then that we...

We are in the process of refinancing our mortgage, and now we have to explain the Wells Fargo Splash Card delinquency. Nice.

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Anonymous
#273802

:(

I too am a victim of this splash card.We were under the impression we were signing for a loan and somehow the pool salesman had the splash card papers under the loan papers.

Now we are stuck with a higher payment than told.Plus the pool company went out of business and Wells Fargo does not want to hear it

Anonymous
#154455

Naturally, loser often end with sorry.Then let the winner happy but learn it!

Meaning that no poin to complain about mistake but again, learn it!

However, thanks for your the info.from Wells Fargo Victim!

Anonymous
#137230

Wells Fargo is in the business of making money, not helping out people.People get this confused all the time.

We live in America, a captialist country. If you want big corporations to help you out go move to a communist country. Oh wait, they won't help you out either.

Why do people think that businesses should be helping people out?

They aren't charities.Get your facts straight.

Anonymous
#136433

Joe, Do you work for Wells Fargo?:grin :eek ALL of the credit card companies are in the business to do one thing?!!!Make Money!

And they don't care how unethical or misleading they are! Wells Fargo ripped me off too, When I was in trouble and needed help they jacked my interest rate to almost 30% because I was 30 days late. I will never do business with this company again. Oh, and you asked why didn't the victim pay off the balance?

I think the persons intent was to do just that but their situation changed just like many of the other millions of americans that were layed off from their jobs last year. When times get tough for someone the banks make it even tougher with increased interest rates, changes in terms etc. And then they send a letter that looks very much like your monthly statement? When you do not respond by the deadline they assume you accept the terms and then you get nailed with it!

How honest is that Joe?

Thank God for the credit card reform act!Something needed to be done about these *** artists.

Anonymous
#136385

Why didn't the "victim" pay off the balance? The terms are clearly stated. That's what you get for buying something off credit without the principal to back it up.

Anonymous
#136375

This person does not mention that they missed payments.You should read the information a little more carefully!

The normal interest rate was 23.99% Joe. Also they fixed their payments at $122.00 a month on a $600 balance.

Sounds pretty unethical to me "Joe".Any yes Joe, they are thieves in my opinion as well!

Anonymous
#136368

How are they thieves? You missed payments and everyone knows that missing payments will bump you up into the default rate. You should have made the payments on time or not have bought a stove you couldn't afford.

Another consumer who will blame everyone but himself and pretend to be a victim.

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