Review: Wells Fargo Platinum Card

Credit Card

The “platinum” in Wells Fargo Platinum Card might make you believe you studied you’re getting a top of the road credit card complete of perks and blessings, but do not get your hopes up. The Wells Fargo Platinum Card has a tremendous introductory APR and (the possibility of) a pretty low interest price, but there are not any rewards or premium cardholder offerings that could permit the Platinum Card to live up to its identify.

Promotional and Regular APRs for the Wells Fargo Platinum Card

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The Wells Fargo Platinum Card begins off being a notable credit score card with its 15-month 0% introductory APR on stability transfers and purchases. Balance transferred all through the introductory length are simplest charged a 3% balance transfer rate (or $five whichever is extra) as opposed to 5% after the merchandising. However, after the introductory duration ends, so do any full-size perks of the card. There’s no annual fee, that is always a plus. To its credit, the Wells Fargo Platinum Card does have one of the longest promotional intervals of any credit score card on the market.

After the 15-month promotional duration ends, the ordinary APR might be between 15.Forty four% to twenty-five.25% relying in your creditworthiness and you will pay a better balance switch price for any balance transferred after the promotional duration. The excellent information for human beings with right credit score scores, you’ll qualify for a lower interest charge.

If your credit score rating is not so top, you may count on to get a higher interest fee.

The Platinum Card as Overdraft Protection for Your Wells Fargo Checking Account

If you have got a Wells Fargo bank account, you can use your credit card for overdraft safety and keep away from the $36 overdraft fee. However, the rate for an overdraft safety improve is $12.50 if your daily overdraft is much less than $50 or $20 if the overdraft for the day is extra than $50.

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Overdraft transactions are charged an interest between 24.25% and 26.25% (relying on your creditworthiness) from the date of the advance. Linking your bank account to a savings account for overdraft safety is tons cheaper, assuming you hold sufficient price range in your savings account.

Cellular Phone Coverage Benefit

Wells Fargo Credit Card
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A best little perk found in the high-quality print: Wells Fargo will cover the robbery of or damage for your mobile cellphone (as much as $six hundred per incidence and $1,200 according to 12 month length) in case you pay your mobile phone invoice together with your credit card. If you’re purchasing handset coverage via your cell telephone provider, you could bear in mind cancelling that service. One caveat, Wells Fargo’s Cellular Telephone Protection doesn’t cover loss.

Wells Fargo Platinum Card Fees

No annual fee.

Balance switch fee: three% or $5 during the introductory period, five% after that.

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Cash enhance price: five% or $10

Late payment rate: Up to $35.

Returned check fee: Up to $35.

If you’re a Wells Fargo customer and need a credit score card with them, why now not get the Wells Fargo Cash Back Card or the Wells Fargo Rewards Card? Both cards pay you a 1% reward to your spending with the Cash Back Card paying in, well, coins and the ordinary Rewards Card paying in points..

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If you’ve got a domestic mortgage with Wells Fargo and want to pay it off early, you is probably interested in the Wells Fargo Home Rebate Card. You get 1% again to your spending, credited on your loan account.

If you’re rebuilding your credit score or have poor credit score you would possibly need a secured card. Check out the Wells Fargo Secured Credit Card. It’s one of the fine secured credit playing cards available on the market.

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