Wells Fargo Jewelry Advantage Credit Card
Wells Fargo Financial National Bank, a subsidiary of Wells Fargo & Company, has launched a new revolving consumer credit card program for the jewelry industry called Wells Fargo Jewelry Advantage. The new credit card program offers "jewelry retailers prompt, automated decisions and easy-to-use online processing and reporting."
“Jewelry retailers told us they wanted a consumer financing program to help them run their businesses more easily and efficiently,” said Darryl Marin, product manager, Wells Fargo Financial Retail Services. “When we created the Wells Fargo Jewelry Advantage credit card program, we focused on the areas that are important to them: quick application decisions and innovative technology to support their processes.”
The Wells Fargo Jewelry Advantage credit card program gives jewelry retailers access to an internet processing system and an online dealer center, resources that provide reporting, processing and marketing support. Marin also noted that the Wells Fargo Jewelry Advantage credit card program uses a new application process that saves time and reduces frustration for salespeople and customers.
The Wells Fargo Jewelry Advantage credit card program offers a comprehensive range of payment plans, including no-interest plans with equal payments; low interest plans with longer payment terms; no payment, no-interest option plans; and no-interest option with minimum payment plans. “The program helps jewelers offer customers a wide variety of financing options,” said Marin. “Customers will appreciate the flexibility, especially given economic conditions. It’s an added value for them.”
IF JEWELERS WANT TO KEEP THEIR CUSTOMERS HAPPY, DO NOT USE WELLS FARGO JEWELRY ADVANTAGE!!
I recently used Wells Fargo Jewelry Advantage to purchase an engagement ring. So far, it has been the worst experience of my life financing anything. Their statements are misleading (the pay stub and due date are in the back of a booklet of information they send you), their online payment system is difficult to use and does not show you any pending payments or even an account balance, and their customer service on the phone is absolutely the worst I have ever experienced.
They called after I had tried to post a payment and told me that it did not go through and that I needed to pay over the phone immediately. I refused to pay over the phone, and after being assured my first payment had not gone through, paid online. Now both payments have posted, and they refuse to put the second payment back into my bank account that they had withdrawn it from.
They never once apologized and told me it was my fault for posting the payment twice (even though they told me the first one had not gone through). They acknowledged that their collections department had talked to me, and that I had expressed concern that the payment would post twice, but the person I talked to conveniently didn't record the part when she told me that the first payment would not go through and that I needed to try again. So suddenly its my fault and there isn't anything they can do.
I am incredibly frustrated and had to remove money from investments to be able to cover the second payment until I can get my bank involved (at the suggestion of the unfriendly women at Wells Fargo) to beg Wells Fargo to reimburse me for double payment.
Posted by: Stephen Price | February 06, 2009 at 05:48 PM