All Wells Fargo credit card interest rates are variable, meaning they change with the market. And most are expressed as a range. The better your credit is, the better your chances of getting a lower interest rate. Keep in mind that you’ll need good or excellent credit to be approved for most Wells Fargo credit cards.
Some Wells Fargo cards also have 0% introductory interest rates on purchases and balance transfers for a certain number of months. After any such 0% rates end, you’ll owe interest on the remaining balance at the regular APR.
Wells Fargo credit card interest rates by card:
Wells Fargo Platinum card: 16.49% - 24.49% Variable APR; 0% on purchases and balance transfers for 18 months. 3% intro for 120 days, then 5% balance transfer fee.
Wells Fargo Rewards® Card: 12.49% - 25.49% (V) APR; 0% on purchases and balance transfers for 15 months. 3% (min $5) balance transfer fee.
You always want to have the lowest interest rate possible, but that’s also assuming you’ll need to be paying interest. If you commit to paying off your card every month and not spending above your means, it won’t matter what the interest rate is. And then, when you know you have a large purchase coming up that will take time to pay off, you can get a card with a 0% APR. Just make sure you pay off the balance before the 0% APR period ends.
The best Wells Fargo starter credit card is the Wells Fargo Secured card because it is easy for people with limited or bad credit to get approved. A security deposit of at least $300, up to $10,000, is required to open the account. The Secured Card has a $25 annual fee.… read full answer
Starter credit cards are marketed to people with limited or bad credit (639 or lower credit score). The majority of Wells Fargo credit cards require at least a 700 credit score. The Cash Back College Card is for students with limited or no credit. So that’s another option if you’re in school.
Wells Fargo credit card requirements are similar to those of other issuers. You’ll have to provide standard personal information such as name, address, and date of birth. A Social Security number is also required.
For your personal information, Wells Fargo requires you enter a physical address. P.O. Box numbers are not permitted. If you receive the majority of your mail at a P.O. Box, you will be allowed to provide the box number as your billing address, if you are approved for a credit card. … read full answer
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.
Credit score requirements, however, will vary. You’ll need an excellent credit score (750+) to qualify for the Visa Signature and Rewards cards. A minimum good credit (700-749) is required for the Cash Wise Visa, Platinum, and Propel American Express cards. If you have bad credit (640), you’ll likely qualify for the Cash Back College Card.
Wells Fargo also has standard age and income requirements. You must be at least 18 years old to apply for a credit card. If you’re under 21, you will need either a co-signer over the age of 21 on the application, or offer proof of your ability to make at least minimum credit card payments. These requirements are necessary in order to comply with the under-21 provision in the Credit CARD Act of 2009. The law states that anyone 21 years old or younger must meet one of these requirements in order to own a credit card.
Wells Fargo does not have an official cut off for a minimum income, but you are required to be employed and provide your annual income. Be sure to include all sources of income outside of wages and retirement benefits, if applicable. Those include rental income, any investment dividends. You will also be asked to provide your monthly rental or mortgage payment.
The standard Wells Fargo cash advance fee is $10 or 5% of the cash advance amount, whichever is greater. Wells Fargo’s cash advance APR is currently between 23.99% and 25.99%. The exact rate depends on your overall creditworthiness at the time you’re approved for an account. But those terms are the same for all Wells Fargo credit cards.… read full answer
Given the high costs, you should avoid cash advances. But it’s still worth knowing how to perform such a transaction and how much it will cost should you need to get one in an emergency. And the first step in being able to do a Wells Fargo cash advance is requesting a PIN from customer service.
To get a Wells Fargo cash advance PIN, call customer service at (800) 642-4720. After that, you’ll be able to take out up to $500 in cash per day from your line of credit, up to your cash advance limit.
If you have a Wells Fargo checking account, you can link it to your credit card as overdraft protection. If your bank account balance dips below zero, you’ll get a cash advance from your credit card to cover transactions. But this isn’t a great option. You’ll pay a $12.50 fee for advances under $50, and $20 for anything above. Plus, the same high cash advance APR applies right away.
At the end of the day, a Wells Fargo cash advance costs too much in fees and interest to be a good option for convenient cash. But if you do one, make sure to repay your balance as soon as possible. Unlike purchases, cash advances do not come with any grace period. Interest starts accruing as soon as you make a withdrawal, so repaying your advance as soon as possible will save you money.
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