I took an interest deferred loan with Wells Fargo since my air conditioner died and I had to get a new XXXX, but did n't have enough money to pay for the installation. The company that installed it offered a home improvement credit card with Wells Fargo that was interest deferred for one year. If you do n't pay off the loan in the one year, all of the interest for the full amount of the loan is levied on the account, in my case, a sum of {$1700.00}. This was n't made clear to me before taking the loan. I understood that it was interest deferred for one year, but I did n't realize I 'd be penalized for the full amount of the loan, and not just the balance at the end of the interest deferred period. I have not been late with any payments and this adds to the debt remaining by 25 %. I feel it is deceptive. 
