Wells Fargo Platinum Visa® Card Review


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Ideal for debt consolidation

  • Reward rate: N / A
  • Welcome offer: N / A
  • Annual subscription : $ 0
  • APR purchase intro: 0% APR for 18 months from the opening of the account
  • Introductory APR to Balance Transfer: 0% APR for 18 months on qualifying balance transfers
  • Regular APR: Variable APR from 16.49% to 24.49%

The Wells Fargo Platinum Card doesn’t offer any rewards, but it could still be an incredibly valuable addition to your wallet. This is because you can take advantage of a generous 0% APR introduction both on purchases when opening the account and on qualification balance transfers for a full 18 months, after which you’ll pay a variable APR of 16.49% to 24.49%.

Using your card during this time gives you the flexibility to make a large purchase and spread payments over time without any interest charges, or consolidate other high interest debt you have. Remember that a 3% Balance Transfer Fee (minimum $ 5) applies to balances you transfer to your new Wells Fargo Platinum Card within 120 days of opening the account. After that, the balance transfer fee goes up to 5 percent (minimum $ 5).

Current welcome offer

This card does not offer any rewards, but you have the option to save money with a APR 0% for 18 months for purchases upon opening an account and qualifying balance transfers. After your APR introduction ends, you will be subject to the current APR variable from 16.49% to 24.49%.


The benefits of the Wells Fargo Platinum Card are suitable for consumers who want to save money with a credit card. In addition to the APR introductory offer for purchases and balance transfers, cardholders can enjoy the following benefits:

Free access to credit score

Being a cardholder can help you improve your credit score because you have the ability to pay off debt and reduce your use of credit. You will also benefit for free FICO credit score access through your online account page, which is the credit score used by 90% of major lenders.

Cell Phone Protection

Registration also qualifies you for the protection of your cell phone against damage or theft. This coverage is worth up to $ 600 per claim, although you can only file a maximum of two claims in a 12-month period. Your coverage is also subject to a $ 25 deductible for each claim.

Account Alerts

You can set up account alerts that immediately alert you to suspicious activity. Alerts are available by SMS or email.

Prices and fees

The Wells Fargo Platinum Card does not charge an annual fee, but there are other fees you should be aware of. At the top of the list is the intro 3% balance transfer fee (minimum $ 5), you will pay the balances transferred in the first 120 days (with a balance transfer fee of up to 5%, a minimum of $ 5 thereafter). Other fees include a 3% overseas transaction fee, late payment fee of up to $ 40, and returned check or returned payment fee of up to $ 40.

How Does the Wells Fargo Platinum Card Compare to Other Balance Transfer Credit Cards

When comparing credit cards with introductory balance transfer terms, it’s essential to consider the length of their offers, the fees they charge, and the benefits they offer. The following table compares the Wells Fargo Platinum card with a few other cards in this niche.

When you compare the Wells Fargo Platinum card to these other balance transfer credit cards, you will notice a few key differences. First the American bank Visa® Platinum card Gives you an introductory 0 percent APR on purchases and balance transfers for 20 billing cycles (14.49 percent to 24.49 percent variable APR thereafter). This longer period could be extremely useful if you have a lot of debt to pay off and need as much time as possible.

Meanwhile, the Citi® Double Cash Card allows you to earn rewards on your spending and enjoy an introductory 0% APR on balance transfers for 18 months (variable APR from 13.99% to 23.99%). Remember, the introductory interest rate does not apply to purchases.

Annual subscription $ 0 $ 0 $ 0
Reward rate Nothing Nothing Up to 2% unlimited cash back for every dollar spent: 1% when you make a purchase and an extra 1% when you pay it back
Welcome offers 0% introductory APR for 18 months from account opening on qualifying purchases and balance transfers (16.49% to 24.49% ongoing variable APR) 0% introductory APR for 20 billing cycles on purchases and balance transfers (ongoing APR varies from 14.49% to 24.49%) Introductory 0% APR for 18 months on Qualifying Balance Transfers (Ongoing APR varies from 13.99% to 23.99%)

Best Cards To Combine Wells Fargo Platinum Card With

If you are considering the Wells Fargo Platinum card because you want to get out of debt, you should probably focus your efforts on that front and avoid having more credit cards. That said, there may be times when you need more than one balance transfer credit card in order to consolidate all of your high interest debt.

In that case, compare all the credit cards on the market that offer an introductory 0% APR on balance transfers until you find the one that’s right for you.

Bankrate’s Take: Is the Wells Fargo Platinum Card Worth It?

The Wells Fargo Platinum Card is a great option for anyone who needs to consolidate and pay off other high interest debt. And with the introductory APR offer, you could make quite a bit of progress.

Consider this example, taken from Bankrate’s minimum payment calculator: Suppose you currently have $ 4,500 in credit card debt at 18% APR and typically pay $ 250 per month. If you stopped making purchases with your card, it would take you 22 months to pay off your debt and pay $ 784.64 in interest during that time.

If you had the ability to pay off that debt at 0% APR and made the same monthly payment, you would be debt free in 18 months with $ 0 interest charged. (0% APR for 18 months on Qualifying Balance Transfers – Variable APR from 16.49% to 24.49% thereafter)


  • Long timeline with APR introduction on purchases and balance transfers
  • No annual fee
  • Eligibility for Cell Phone Insurance Coverage
  • Free access to the FICO score

The inconvenients

  • No reward on your spending
  • Some credit cards with balance transfer have longer introductory APR offers

About the Author

Holly Johnson started her career in the funeral industry, which may make you wonder why she is now working in personal finance. Yet the funeral industry has taught the author everything she needs to know about the value of her money and time. Johnson left the mortuary business ten years ago to explore his passion for personal finance and travel …

about the publisher

Author avatar

Nouri Zarrugh is a writer and editor for CreditCards.com and Bankrate.com, focusing on news, guides and product reviews. His areas of expertise include credit card strategy, rewards programs, scoring and credit scores, and his stories on building credit have been cited by Mic.com, LifeHacker, People.com and more. Through his in-depth map reviews and …

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