What are the Wells Fargo credit card fees?

The Wells Fargo annual fee is $0. For comparison, the average credit card annual fee on the market is $22 right now.

Wells Fargo Annual Fees

• Wells Fargo Active Cash® Card: $0
• Wells Fargo Platinum card: $0
• Hotels.com® Rewards Visa® Credit Card: $0
• Dillard's Store Card: $0… read full answer
• Furniture Barn Credit Card: $0

Credit card transaction fees are charges that merchants must pay to process customer payments made with a credit card. These merchant charges are commonly referred to as credit card processing fees, but this usually refers to a combination of different fees, including interchange fees, processing fees, and assessment fees – all of which are separate fees involved in processing a credit card transaction. They’re also informally referred to as swipe fees or merchant fees.… read full answer

More info about credit card transaction fee amounts:

Typical credit card transaction fees average 1.5% to 3.5% per transaction, but they can go higher than that. The price merchants pay depends on the card issuer, the card network, the payment processor, the payment method (swipe, dip, etc.), and the merchant category. The interchange fee alone is a percentage of the transaction amount, plus a flat fee – 1.5%, plus $0.15 per transaction, for example.

Credit card processing fees are baked into the prices everyone pays for things, so the consumer rarely sees evidence of these charges. But perhaps you’ve seen a sign at a store noting a $5 or $10 minimum for credit card purchases. That’s because each credit card transaction costs the merchant, and transactions under a certain amount may not be worth it to the business owner. One reason why some merchants do not accept American Express credit cards is because they charge the highest transaction fees of the four major credit card networks.

Here’s an example of credit card transaction fees from the four major card networks:

Here's when consumers have to pay processing fees:

There are some rare occasions when a credit card surcharge – or a “checkout fee” – will apply to a purchase on the consumer end, including small-dollar purchases and when a merchant doesn’t usually accept credit. The minimum spending requirement to avoid credit card surcharges can be up to $10, legally. Debit cards are exempt from this rule. But merchants aren’t always good at telling credit cards and debit cards apart.

By law, merchants aren’t allowed to charge the customer more than the actual cost of processing the transaction or 4% of the purchase amount —whichever is lower. Some states have even outlawed credit card surcharges altogether, including California, Colorado, Connecticut, Florida, Kansas, Maine, Massachusetts, Oklahoma, Texas, and Utah.

Still, the credit card transaction fees that merchants pay aren’t the only types of transaction fees you might encounter. There are also fees for specific types of credit card transactions that credit card users may have to pay, such as cash advance fees, balance transfer fees and foreign transaction fees.

Wells Fargo credit card requirements include having a credit score of 700+ (for most cards) and providing standard personal information such as your name, address, and date of birth. A Social Security Number (SSN) or an Individual Tax Identification Number (ITIN) is also required, and all applicants must be 18+ years old.… read full answer

Wells Fargo Credit Card Requirements

• General requirements: You must be at least 18 years old and have a physical U.S. address to be eligible for a Wells Fargo credit card. You will also need to provide your SSN or your ITIN. No minimum income stipulated, but be sure to include any sources of income outside of wages and retirement benefits, if applicable. Documents such as birth certificates, drivers’ licenses, and Social Security cards are not required, but in some instances, you may be asked to provide copies in order to verify your personal information.
• Wells Fargo Platinum card: Requires a credit score of 700, at a minimum. That means applicants need good credit or better.
• Wells Fargo Active Cash® Card: Requires a credit score of 700, at a minimum. That means applicants need good credit or better.
• Hotels.com® Rewards Visa® Credit Card: Requires a credit score of 700, at a minimum. That means applicants need good credit.

Wells Fargo also issues a number of retail store cards that generally have more lenient approval requirements, as applicants with fair credit or better (a score of 640) can get approved.

Other factors such as your income, debts, housing payments, and your general ability to afford credit card payments will also be taken into consideration when evaluating an application.

It’s also worth noting that you may not be eligible for introductory APR’s, fees and/or bonus rewards offers if you opened another Wells Fargo credit card within 15 months of your application.

If you want the best Wells Fargo credit card approval odds, make sure to pay your bills on time and try to keep your credit utilization around 30%. And bear in mind that an application will trigger a hard inquiry which may temporarily cause a dip in your credit score. So make sure you know where you stand before applying. You can check your credit score for free, right here on WalletHub.