The Wells Fargo credit card minimum payment is either $25 or 1% of your new balance, plus interest and fees, whichever is greater. If your entire account balance is less than $25, then your balance amount is the minimum payment. Note that any past-due amounts will also be added to the minimum payment.
What you should know before making a Wells Fargo credit card payment:
You must make your Wells Fargo credit card minimum payment every month by the due date listed on your statement.
Failure to pay on time will result in a late fee, and can lead to credit score damage if you’re more than 30 days late.
Paying more than the minimum payment each month will reduce your interest charges. Better yet, avoid interest charges altogether by paying the balance in full, if possible.
If you choose to carry a balance on your Wells Fargo credit card, you will start to owe interest daily and you will lose your grace period on new purchases. That means future purchases will begin to accrue interest immediately.
To see your Wells Fargo credit card minimum payment, check your monthly statement from your online account.
The Wells Fargo credit card grace period is at least 25 days, lasting from the end of the billing cycle until the payment due date. This means cardholders have at least 25 days from the moment their monthly statement closes until the due date to pay their credit card bill. As long as you pay in full during this period, you will owe no interest on your monthly purchases.
The Wells Fargo Reflect Card minimum payment is $25 or 1% of the statement balance, plus fees, past-due amounts, and interest – whichever is higher. If the statement balance is less than $25, the Wells Fargo Reflect Card minimum payment will be equal to the balance. In addition, if you recently missed a payment or exceeded your credit limit, Wells Fargo may add a late fee or the overlimit amount to your minimum payment.
The Wells Fargo credit card late fee is up to $40 on all their personal cards. The late fee for Wells Fargo business cards is up to either $50 or $75, depending on the card. The fee applies when a cardholder does not make at least their minimum payment by the due date. Both the minimum payment and due date are listed on all Wells Fargo credit card billing statements.
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