The Wells Fargo Platinum card is an ideal card for consumers who want access to a 0% intro APR for a lengthy period of time.
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The Wells Fargo Platinum card comes with one of the best 0% intro APR offers on the market today, which makes it an ideal choice if you plan to consolidate debt or you need to make a large purchase.
Cardholders are eligible for a 0% intro APR for 18 months from account opening on purchases and a 0% intro APR for 18 months on qualifying balance transfers, followed by an APR of 16.49%-24.49% (Variable). There is a $0 annual fee, and cardmembers get a free FICO Score within their online account management page.
Wells Fargo Platinum card
- 0% intro APR for 18 months from account opening on purchases and qualifying balance transfers, then a 16.49% to 24.49% variable APR; balance transfers made within 120 days qualify for the intro rate and fee
- $0 Annual Fee
- Get up to $600 protection on your cell phone (subject to $25 deductible) against covered damage or theft when you pay your monthly cellular telephone bill with your Wells Fargo Platinum card
- Easy access to your FICO® Credit Score with Wells Fargo Online®
- Monitor your spending, purchases and any suspicious activity with text and email alerts and notifications
- Convenient tools to help create a budget and manage your spending with My Money Map
- Select "Apply Now" to learn more about the product features, terms and conditions
18-month intro APR on balance transfers
Consumers who want access to a lengthy 0% APR offer for balance transfers should definitely consider the Wells Fargo Platinum card.
Cardholders will enjoy a 0% intro APR for 18 months on qualifying balance transfers (then an APR of 16.49%-24.49% (Variable) applies).
Just keep in mind that a balance transfer fee applies: 3% intro for 120 days from account opening, then up to 5%; min: $5. Also, the variable APR will apply after the introductory offer ends, so you'll need a plan to pay down all or most of your debt during the 18-month timeline.
If you do decide to transfer high interest balances to the Wells Fargo Platinum card, the interest savings can be substantial — even after accounting for the balance transfer fee. The chart below shows how much you'll pay in fees to transfer various amounts, as well as the potential interest savings you could achieve.
Cost of balance transfer
How much you could save in interest (if paid in 18 months)
Figures are determined based on initial interest rate of 18%
While the card lets you avoid interest on balance transfers for an exceptional amount of time, you should also compare additional balance transfer credit cards to see what else is out there. Not only will you find balance transfer cards that let you earn rewards on your spending, but you'll also find longer 0% APR introductory offers.
For example, the U.S. Bank Visa® Platinum Card gives you a 0% intro APR for 20 billing cycles on Balance Transfers*, followed by an APR of 14.49% - 24.49%* (Variable).
What is the credit limit for the Wells Fargo Platinum card?
Wells Fargo does not list specific credit limits for the Wells Fargo Platinum card. However, generally speaking, your credit limit will be assigned based on your income, your other debts and your credit score.
If you're a current Wells Fargo credit card customer and you apply for the Wells Fargo Platinum card, you should also know that Wells Fargo has the right to reallocate your credit limits between your existing card and your new account.
Who is eligible? Before you apply, you should be aware that Wells Fargo sets limits on who is eligible for their introductory offers. Specifically, they say that "you may not be eligible for introductory annual percentage rates, fees and/or bonus rewards offers if you opened a Wells Fargo Credit Card within the last 15 months from the date of this application and you received introductory APR(s), fees and/or bonus rewards offers — even if that account is closed and has a $0 balance."
You also may not be eligible if you have opened another Wells Fargo credit card in the last six months.
18-month intro APR on purchases
The Wells Fargo Platinum card also extends a 0% intro APR for 18 months from account opening on purchases (then an APR of 16.49%-24.49% (Variable) applies).
This benefit can be immensely useful if you have a large purchase you need to pay down over time, or if you just want a little break from credit card interest payments.
Just keep in mind that, like the balance transfer offer, interest will begin accruing on your purchases after the 18 months are up. Also note that, if you have consolidated debt with the Wells Fargo Platinum card, using it for purchases might leave you working against your own goals. After all, it's considerably harder to pay down debt if you're also racking up new charges.
With that in mind, we only suggest using the Wells Fargo Platinum card for purchases you can pay off within 18 months.
What credit score do you need for a Wells Fargo Platinum card?
Like other top balance transfer credit cards, you'll need very Excellent/Good credit to qualify for the Wells Fargo Platinum card. This typically means having a FICO Score of at least 700.
Other Wells Fargo Platinum card benefits
While the Wells Fargo Platinum card doesn't have a ton of lucrative benefits, that's not unexpected considering it doesn't charge an annual fee. With that being said, there are a few notable perks available for cardholders:
You don't even have to pay an annual fee for the Wells Fargo Platinum card. That makes the 0% introductory offer even more lucrative and also makes this card an easy one to keep for the long haul.
As a cardholder, you'll receive cellphone protection worth up to $600 per claim, minus a $25 deductible. You can only have up to two claims per 12-month period, and you have to pay your cellphone bill with your credit card to be eligible.
You also get secondary auto rental coverage as a cardholder, which applies when you pay for the rental cost with your credit card. This coverage is good for up to the cash value of most rental cars and for rental periods of up to 15 days in your own country and up to 31 days outside your country. Other terms and conditions apply.
How does the Wells Fargo Platinum card compare to other cards?
While the Wells Fargo Platinum card has one of the best introductory rates out there, you should still look at other cards in this niche, including other Wells Fargo credit cards. Here are a few additional credit cards to consider:
Wells Fargo Platinum card vs. Wells Fargo Cash Wise Visa® card
The Wells Fargo Cash Wise Visa® card lets new cardholders benefit from a 0% intro APR for 15 months from account opening on purchases and 0% intro APR for 15 months from account opening on qualifying balance transfers (followed by a variable APR of 14.49%-24.99% (Variable)). This is a shorter timeline than the Wells Fargo Platinum card; however, you get the chance to earn rewards, which could be worth it if you're searching for a card you can use in the long run.
New cardholders can Earn a $150 cash rewards bonus after spending $500 on purchases in the first 3 months. Further, cardholders Earn unlimited 1.5% cash rewards on purchases, and there's a $0 annual fee.
Wells Fargo Platinum card vs. Citi® Diamond Preferred® Card
The Citi® Diamond Preferred® Card comes with the same intro APR of 0% for 18 months on Purchases and 0% for 18 months on Balance Transfers, followed by a variable APR of 13.74% - 23.74% (Variable). There's a $0 annual fee, and you get a free FICO Credit Score and access to Citi Entertainment® benefits.
For the most part, this offer is very comparable to the Wells Fargo Platinum card. If anything, the Wells Fargo Platinum card is a better option since it comes with some travel benefits and cellphone protection.
Wells Fargo Platinum card vs. Citi® Double Cash Card – 18 month BT offer
The Citi® Double Cash Card offers a long introductory APR of 0% for 18 months on Balance Transfers (then an APR of 13.99% – 23.99% (Variable) applies), plus excellent rewards on all your spending. Cardholders Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
However, you should note that the introductory rate only applies to balance transfers and not to purchases. That makes this card an inferior option if you're hoping to get 0% APR on items you buy for a limited period of time.
Is the Wells Fargo Platinum card worth it?
If you're looking for a way to save money on interest and you don't really care about rewards, the Wells Fargo Platinum card is a solid option. The same can be said if you have high-interest credit card debt you want to consolidate and pay down over time.
However, there are plenty of other similar offers to consider, some of which could be better for your needs and goals. Make sure you compare the best 0% APR credit cards and all their perks before you decide.
Wells Fargo Platinum card FAQs
Is Wells Fargo Platinum card good?
Since the Wells Fargo Platinum card comes with a $0 annual fee and an introductory APR offer, most experts would agree it's a good credit card.
Does the Wells Fargo Platinum card have cash back?
The Wells Fargo Platinum card doesn't offer any type of rewards. If you want to earn cash back on your spending, make sure to check out the best cashback credit cards.
Is the Wells Fargo Platinum card a credit card or a debit card?
The Wells Fargo Platinum card is a credit card and not a debit card.
Does the Wells Fargo Platinum card charge foreign transaction fees?
The Wells Fargo Platinum card charges a 3% in foreign transaction fees for all purchases you make abroad.
The information related to U.S. Bank Visa® Platinum Card and the Wells Fargo Cash Wise Visa® card has been independently collected by ValuePenguin and has not been reviewed or provided by the issuer of this card prior to publication.