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, but there are no points or rewards. 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.