Beware!!!WellsFargo Visa overdraft protectection is a Ripoff!

[azsun2]

They conned me into this over draft protection Visa card at 7% which they raised to 9.9% then it went 18.9% with a sur charge of every time I used the overdraft if ever. Then later it inceased to 23.9% which is almost as much as a default rate of 24.0% if I didn't pay at all. I was told for years that because of the Obama Laws they were no longer allowed to collect raise rates increse fees so just before this took effect they took the acion they did. I've told for years to keep calling back every month to see if my rates can be lowered but the same story keeps holding up. Sorry call back next month. I've never been late on a payment yet but my God!The payments tripled from what they where originally. That's not good for a person on fixed income.

[cv91915]

They conned me into this over draft protection Visa card at 7% which they raised to 9.9% then it went 18.9% with a sur charge of every time I used the overdraft if ever. Then later it inceased to 23.9% which is almost as much as a default rate of 24.0% if I didn't pay at all. I was told for years that because of the Obama Laws they were no longer allowed to collect raise rates increse fees so just before this took effect they took the acion they did. I've told for years to keep calling back every month to see if my rates can be lowered but the same story keeps holding up. Sorry call back next month. I've never been late on a payment yet but my God!The payments tripled from what they where originally. That's not good for a person on fixed income.

You should shop around for a different bank. Mine would charge me just $1 if they need to transfer money from my savings account to my checking in case I am overdrawn, which I have never been.

 

I hate Wells Fargo comprehensively, and when they p#$% me off I just moved all of my accounts... Seemed easier than managing any sort of ongoing animosity no matter who is right. I would respectfully suggest that you do the same if you are unsatisfied with your experience as a customer. There are a million places to bank.

[fthboregon]

^{I'm sorry you're experiencing that. I would definitely leave WF, or at least change your OD protection to a savings account or something else. Credit cards are terrible for OD protection, because they are treated as cash advances and so incur fees, higher interest rates and interest generally starts accruing immediately - most cards have no grace period for cash advances.}

Edited May 20, 2013 by fthboregon

[stroked89coupe]

No need to post twice about the same thing 10 days apart. I have moved your other thread that you posted a few days ago into the credit forum.

Edited May 20, 2013 by stroked89coupe