Wells Fargo Platinum Card Review
A no-frills, plain-vanilla credit card
The "platinum" in Wells Fargo Platinum Card would make you think you're getting a top of the line credit card full of perks and benefits, but don't get your hopes up. The Wells Fargo Platinum Card has a great introductory APR and (the possibility of) a relatively low-interest rate, but there aren't any rewards or premium cardholder services that would allow the Platinum Card to live up to its title.
Wells Fargo Platinum Card Details
|Intro Purchase APR||0% for 18 months|
|Ongoing APR||13.74%-27.24%, based on your creditworthiness|
|Balance Transfer APR||0% for 18 months, then 13.74%-27.24%|
|Balance Transfer Fee||Introductory fee of either $5 or 3%. After that, up to 5%|
|Late Payment Fee||Up to $37|
|Foreign Transaction Fee||3% of each transaction converted to U.S. dollars|
Pros & Cons of Wells Fargo Platinum Card
What We Like
No annual fee
0% APR for 18 months
0% balance APR for 18 months
What We Don't Like
Wells Fargo Platinum Card Sign-up Bonus
The Wells Fargo Platinum card does not offer a sign-up bonus.
Earning Points & Rewards
The Wells Fargo Platinum card does not offer any points or rewards.
The main reason to get this card is the 0% APR and balance transfer APR for 18 months, an unusually only period. This can help you get a jump on paying down old debt.
Wells Fargo Platinum Card's Additional Features
- Auto rental collision damage waiver
- Roadside dispatch
- Travel accident insurance
- Travel and emergency assistance services
Wells Fargo Platinum Card Additional Fees
|Returned Payment Fee||Up to $37|
|Cash Advance APR||26.24%-28.24%, based on your creditworthiness|
|Cash Advance Fee||Either $10 or 5% of the amount of each advance|
Is This Card Right For You?
The Wells Fargo Platinum Card starts off being a great credit card with its 18-month 0% introductory APR on balance transfers and purchases. Balance transferred during the introductory period are only charged a 3% balance transfer fee (or $5 whichever is greater) as opposed to 5% after the promotion. However, after the introductory period ends, so do any significant perks of the card. There's no annual fee, which is always a plus. To its credit, the Wells Fargo Platinum Card does have one of the longest promotional periods of any credit card on the market. If you qualify, get a points card. If not, this is a decent one to build your credit with.
Visit the Wells Fargo website to apply for a card.
Credit card terms and signup bonuses are subject to change from the time of this review.