No, Wells Fargo Platinum does not offer cash back rewards. Wells Fargo Platinum does not have any type of rewards. The card’s signature feature is an introductory APR of 0% for 18 months on purchases and 0% for 18 months on qualifying balance transfers. Balance transfers do incur a balance transfer fee of 3% intro for 120 days, then up to 5% (min $5), though. Wells Fargo Platinum card also has a $0 annual fee.
You could use Wells Fargo Platinum to get cash back through a cash advance. You can withdraw cash against your card’s credit line at either an ATM (with a PIN) or a Wells Fargo branch. But cash advances are expensive and should only be an option if you need emergency cash. There’s a hefty cash advance fee on the amount of each transaction, and interest accumulates at a higher APR than the regular rate. Credit card cash advances are always expensive, so it’s best to reserve them for emergency use only.
Ultimately, if you’re looking for a credit card that offers cash back rewards, you can check our editors’ latest picks for the best among them and weigh your options.
Wells Fargo cash advances usually cost $10 or 5% of the amount of the withdrawn amount, whichever is greater. This cash advance fee applied every time you get a cash advance using your credit card. Wells Fargo’s cash advance APR is currently between 26.24% and 27.49%, depending on the card you have.… 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.
Here’s how to get a Wells Fargo cash advance:
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 no fee for advances of $5 or less, but you will be charged a $35 fee for advances over $5. Plus, your card’s high cash advance APR applies right away.
Here’s how to minimize the Wells Fargo cash advances cost:
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.
The best Wells Fargo cash back credit card is the Wells Fargo Active Cash® Card because it gives you $200 Cash Rewards. This card also offers 2% cash rewards on all purchases. Plus, cash back rewards do not expire as long as your account stays open. The card has a $0 annual fee, too.… read full answer
The Wells Fargo Active Cash card even comes with an intro APR of 0% for 15 months from account opening on both purchases and balance transfers. The card’s regular APR is 16.49% - 26.49% Variable. There is, though, a balance transfer fee: 3% intro for 120 days, then up to 5% (min $5). These features make Wells Fargo Active Cash an attractive card all-around.
Other Good Cash Back Credit Cards
Although the Wells Fargo Active Cash card is considered one of the best credit cards for cash back rewards, there are also several other good options available on the market. So, if you’re not loyal to Wells Fargo, you may want to try cards from other issuers:
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