Save money with no annual fee and a 0% intro APR offer for 18 months.
- Get this card if… you want an extended intro APR offer and no annual fees.
- Pick something else if…you want to earn rewards or pay no foreign transaction fees.
- Good to excellent credit score of 680 to 850 recommended.
| Product Name | Wells Fargo Platinum Card |
|---|---|
| Intro APR for Balance Transfer | 0% Intro APR for 18 months (with whichever is greater, $5 or 3% balance transfer fee) |
| Balance Transfer Rate (not intro) | 16.65% to 26.49% variable |
| APR for Purchases ( Purchase Rate ) | 16.65% to 26.49% variable |
| Annual fee | $0 |
| Cash Advance Rate | 25.49% to 27.49% variable |
| Card Type | Visa |
| Interest Free Period The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement. | Up to 25 days |
| Returned Payment Fee | $37 |
| Foreign Currency Conversion Fee (VISA) Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution. | 3% of transaction value |
| Minimum Interest | $1 |
| Minimum Credit Score | Fair (660-699) |
|---|---|
| Minimum Age | 18 years of age |
| Annual fee | $0 |
|---|---|
| Returned Payment Fee | $37 |
| Late Payment Fee | $37 |
| Cash Advance Fee | $10 or 5% of the amount of each advance, whichever is greater |
The Basics
The Wells Fargo Platinum Card is unique with a 0% intro APR offer for 18 months, far exceeding the usual 12 months you’ll find with similar cards. If you use this card to pay your cell phone bill, you can get a cell phone protection plan of up to $600 to protect you if your cell phone is lost or broken. To top it off, there’s no annual fee, making this card one to consider.
The name of the Platinum Card offered by Wells Fargo is a tad misleading as it doesn’t come with rewards or offer top-of-the-line perks you might associate with a typical platinum card.
Editorial reviews
| Review Site | Reviewer | Star Rating |
|---|---|---|
| ValuePenguin | Robert Harrow | 80% |
User reviews
| Review Site | Star rating | Review count |
|---|---|---|
| Wallet Hub | 4/5 | 375 reviews |
| Credit Karma | 2.5/5 | 26 reviews |
| NerdWallet | 5 | 5 reviews |
The perks
- No annual fees. This card comes with no annual fees for the life of the card.
- Intro APR offer. Enjoy a 0% intro APR offer on purchases and balance transfers for 18 months.
- Complementary protection. These include travel accident insurance, auto rental collision damage waiver, cell phone protection, and the Wells Fargo Credit Defense Platinum service.
You’ll also like…
- Access to FICO score. You can access your FICO credit score for free using the Wells Fargo Mobile platform.
- Safety and security. This chip enabled card offers increased account security through Verified by Visa, rapid alerts, and a zero liability program. You also benefit through overdraft protection, emergency card replacement, roadside dispatch as well as travel and emergency assistance services.
What to watch out for
- End of intro APR offer. After 18 months, the 0% intro will end and you’ll pay interest on any outstanding balances. The interest assigned to your card depends on your creditworthiness.
- Foreign transaction fees. You’ll pay 3% of each transaction you make outside of the US.
- Balance transfer fees. Balance transfer fees are subject to increase from 3% to 5% after the intro APR expires.
- Other fees. You’ll pay up to $37 for late or returned payments. Cash advances and overdraft protection advances also attract fees.
Consider other cards if …
- You don’t want to pay foreign transaction fees. Several cards come with no foreign transaction fees including the Barclaycard Arrival Plus World Elite Mastercard, Southwest Rapid Rewards Premier credit card and Capital One Platinum Credit Card.
- You want to earn rewards. This platinum card does not offer rewards. Depending on the rewards you want to earn, consider getting an airline, gas, hotel or cashback card.
What to know before you apply
- You may apply for the Wells Fargo Platinum Card if you’re:
- At least 18 years old.
- A resident of the US.
Always consider your options and your financial situation before you apply for a credit card.
Information you’ll need
In order to apply for the Wells Fargo Platinum Card, you’ll need to provide the following information:
- Full name, contact information and Social Security number.
- Housing status and monthly rent or mortgage payments.
- Employment status and gross annual income from all sources.
What credit score do I need?
You have a better chance of application approval with a credit score of 680 or higher.
How to apply for the card
1. On the Wells Fargo Platinum Card website, click Apply Now.
2. Existing Wells Fargo customers may sign in for a quicker, prefilled application. Others need to click Continue.
3. Provide the required details and complete the application.
4. Confirm if the provided information is correct and click Submit.
How long will it take to be approved?
Wells Fargo processes its applications online, and you’ll typically learn your application’s conditional approval soon after submitting it.
I got the card. Now what?
- Make timely payments. Register your account online with Wells Fargo to monitor your spending and make payments.
- Avoid interest. Pay off all outstanding balances by the 18th month to avoid paying interest. Make use of the 25-day grace period after each billing cycle to avoid paying interest on purchases.
- Avoid unnecessary fees. Ensure that there are adequate funds in your bank account when making payments to avoid stiff late fees and bounced-payment penalties.
- Customer service. Call 800-869-3557 for support. You can also connect with Bank of America on Facebook @wellsfargo or Twitter @WellsFargo.
Bottom line
This card may work for you if you’re looking for an extended intro APR offer on purchases and balance transfers. Also, not needing to pay an annual fee is always nice.
