Can't Pay Wells Fargo Card 6 month offer

Where you can talk about store credit cards, like gas station cards, department store cards, etc.
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MwMike
 
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Can't Pay Wells Fargo Card 6 month offer

Postby MwMike » Sun Mar 07, 2010 2:10 pm

I bought some cabinets from HOBO, a home owners box store. I applied and received their card with 6 months no interest. The thought was to pay 1/6th of the bill every month and be done. The problem is never got a bill or billing information. The card is issued by Wells Fargo, multiple calls to them and all I'm told is there are not any charges on my bill. This sure sounds good at first but I no better than to expect a freebie. I'm 5 months in to this now and concerned that I will be get hit with bill and a mess of interest charges soon.

Is something screwed up here, or is this a common procatice? To not provide any information and then hit you up with all the back interest?


jeffysdad
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I had a similar arrangement...

Postby jeffysdad » Mon Mar 08, 2010 6:06 am

when I bought a Tempurpedic bed from Mattress Firm. They offered no-interest financing through Wells Fargo with no interest for three years.

It wasn't long into the deal that MF dropped Wells as their bank, or Wells dropped them. My account (Mattress Firm MasterCard) was closed. However, payment terms remained the same and there was no problem for me. I paid off early and that was that.

What I think might be happening with your situation is the store and bank might have parted ways and your account fell through the cracks. Maybe the transaction was being processed around the time of the split. Maybe a new bank picked up the store's business and your account was supposed to be migrated to them but wasn't.

I would call the store and demand they tell you what's going on. If the bank says you don't owe, you don't owe. But you're obviously smart enough to know something's waiting around the corner to bite you.

I hope you have the cash on hand to pay off the balance. In these no-interest deals (in case you didn't know), if you don't pay off by specified date they typically charge interest retroactively back to transaction date for the entire unpaid amount. Be ready to fight that if you have to.

Good luck.
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Mogul of Pineapples
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Postby Mogul of Pineapples » Thu Mar 25, 2010 9:27 pm

You never know, sometimes we get freebies in life. I made an estimated income tax payment to the state and the check was never cashed. I called numerous times and they confirmed the amount had been credited on my record. It's been almost 2 years now and that check still hasn't shown on my account.

In your situation I would be worried too. The last thing you want is for this to impact the amount you owe or your credit record. Would it be possible the processed your address wrong and are mailing the statements elsewhere? I would have Wells Fargo look you up by SS# to make sure there is not an account linked to you.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

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DoingHomework
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Postby DoingHomework » Mon Mar 29, 2010 3:22 pm

Be careful to document everything you do. If you can show that you tried to correct the situation but they told you you owed nothing then you might end up getting everything for free.

It sounds like there is some kind of mistake and your application was lost or something. Since you did but teh materials you are responsible for paying. But if you tried and they told you there was no amount due then the burden shifts to them.

Personally I would write a letter saying that you believe you should have a balance of XXX and that you would like your balance and all activity verified. If they come back confirming in writing a $0 balance and no activity you will be in the clear. They might discover and chareg you for the original amount at some point but there is no way they would ever be able to get interes tor late charges from you if you can document that you did your best to alert them to the mistake. They will try but you can just refuse.

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Mogul of Pineapples
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Postby Mogul of Pineapples » Thu Jun 03, 2010 8:23 pm

DoingHomework is right- documenting everything is a must. I have found that some businesses try and give you a hard time when you request written records but insist anyway.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Chase Sapphire Preferred

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alsteig
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Postby alsteig » Sat Jun 05, 2010 12:27 am

Everyone is correct document document document names times etc. Their are rare freebies. Rest assured these banks don't stay in business letting them slip. I would make an effort w/Wells Fargo and verify as the previous poster said on the phone and in writing. Be explicit, my guess is that this will all come out in a few months and HOBO or who ever will try and ding you. Stick to your guns but make reasonable efforts. To my knowledge a statement is not required, when you signed the contract the docs you got probably told you where to remit payment. Sounds shady but it has happened in the past.



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