Wells Fargo "credit defense" service the biggest fraud I have come across

Discussion in 'Politics, Religion, Social Issues' started by 63dot, Jun 5, 2011.

  1. 63dot macrumors 603


    Jun 12, 2006
    Besides reading about story after story about Wells Fargo credit card members getting charged for a service they didn't sign up for, there are a lot of stories in person and on the internet about people who couldn't get off this "service" from the company.

    Many of the people who were told they canceled the service were mysteriously put back on paying what appears to be a hidden banking fee.

    This does not seem to be plausible, but then I get a credit card bill with this service from them I never signed up for.

    A couple of years ago, I first started seeing this on my bills and they "removed" it after I asked them to in person. It never showed up since then, but without consent it is there again. I am not one happy camper.

    Has anyone come across this issue and does anybody know about a class action suit on what appears to be an unfair contract or a pure fraud?

    Thanks in advance.
  2. NT1440 macrumors G4


    May 18, 2008
    If only we had a country where a consumer protection agency was seen as a good think rather than a blight to the scum profits of companies.

    That would be a place for the people, not the corporations though....:(

    Good luck and let us know what happens, I'd chip in if I knew anything useful on the matter.
  3. Thomas Veil macrumors 68020

    Thomas Veil

    Feb 14, 2004
    OBJECTIVE reality
    Probably a response to this. They're trying to make up what they're "losing" to the new credit card laws.
  4. joepunk macrumors 68030


    Aug 5, 2004
    a profane existence
    I don't have a Wells Fargo credit card but I do have a checking account with them. I'm to am interested in hearing more about your personal experience regarding the poop that you don't want but still pay for.
  5. 63dot thread starter macrumors 603


    Jun 12, 2006
    Thanks for all the replies.

    I have been very happy with their checking and savings accounts for 14 years.

    I just didn't know about the hidden fee(s) on their credit card account or their total reluctance to take it off, even when they say they will. I know this issue can come to bite them back in the butt.

    I was warned by my former professor who has a family member who is an officer with the company and was thoroughly disgusted by some "schemes" or operating procedures of the bank to make money.

    I know that all banks are there to make money and that they are not there for free, but this hidden fee is outrageous and unless one looks at every bill, they won't find that fee.

    Hopefully, any new laws will require banks (not just Wells Fargo) to list the fees in plain view and make their bill understandable. To bury anything that obvious in fine print hasn't gone over very well with the Supreme Court in the past.

    If they don't get their act together, I will change my credit card, but I have no issues against their regular checking and savings accounts.
  6. Janet1 macrumors member

    May 9, 2011
    I don't have a Wells Fargo credit card, but a charge for some kind of credit protection mysteriously appeared one month on one of my credit cards.

    I complained, and they told me they were going to take it off, but the next month, not only didn't they take it off, they added another one.

    I complained again, and again they promised to remove the charge, only to find a 3rd one added to my next month's credit card bill.

    That was it. I spent the next several days calling them over and over again, basically yelling at them for hours on end, until I literally lost my voice.

    That worked to get them to remove the charges, and my husband really enjoyed the 3 days of silence until I got my voice back.
  7. Rodimus Prime macrumors G4

    Rodimus Prime

    Oct 9, 2006
    Well Fargo pissed me off pretty big time 7 years ago by charging me fees on my account and I figured it out after I ate 60 bucks in fees. Closed the account the next day and have NEVER looked back.
    This was after they screwed me over with bill pay fees after multiple requested. I NEVER PAID A SINGLE BILL with the service and I had bill pay service fees and fought with them to remove it.

    Reason for it is they had put me in some high class account I never signed up for because I opened it with like 3000 grand. Dropped below 2 grand and boom fees. All that for an entire 0.1% intersted.
    Closed and open an account at the credit union were my checking account had better interested rates. No fees and what not.

    Multiple friends have had issues with wells fargo over the years as well

    My advice is screw the big banks and go to a credit union. Banks first interstes is to the stock holders and they will screw over the customers for the stock holders. Credit unions first interst is to the account holders. THis means lower to no fees and higher interst rates. They are non profit. My credit union I get better interest rates than any bank I have seen, no fees and guess what NO MIN balance.
  8. 63dot thread starter macrumors 603


    Jun 12, 2006
    I called Wells Fargo credit card services and they transferred me to the appropriate department, but not before giving me the official toll free number of that department.

    Like many other 1-800 transfers, I eventually got cut off by the robot.

    So I waited a few minutes, and again from the Wells Fargo branch, I called again and after a few minutes wait, I got the credit defense canceled, and I hope this time it lasts permanently.

    Whether or not a cancellation of a service lasts permanently or not for many banking services, from Wells Fargo and banks in general, remains to be seen.

    Small mistakes of putting people back on services without their knowledge can equate to many millions of dollars, or more. Any class action suits which penalize bank(s) will pale in comparison to how much money is made from these possibly illegal contracts of banking services without consent.

    Should banks put these services up front in a contract in an unambiguous way, or should they be allowed to bury terms and conditions in fine print? Other than that, it seems to make common sense that putting a person on a contract for a paid service without consent from the customer should be illegal.
  9. 184550 Guest

    May 8, 2008
    In a perfect world, sure, financial institutions should be required to state the terms and condition in clear, layman terms.

    However, IMO, it is ultimately the consumers responsibility to make sure that they read all the relevant and necessary information as it pertains to their contract and service bought/ rendered before they sign or agree to anything.

    IMO, both corporation and the consumer are to blame.
  10. hulugu macrumors 68000


    Aug 13, 2003
    quae tangit perit Trump
    I had a company do something similar, so I wrote up an invoice and sent it to the corporate office by certified mail for my time and expenses.

    The problem was fixed very quickly after that.

    Eh, that seems like an unfair equation. First, corporations have armies of lawyers and copy writers to forge documents that appear understandable, but are incredibly complex.
    Second, I don't like the moral equivalence, one actor is operating in good faith, the other one is running a long-con. If one should be blamed for being ignorant, the other's a grifter.

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