Your Wells Fargo Platinum limit will be at least $1,000 for qualified applicants. That’s the Wells Fargo Platinum minimum credit limit, per the card’s terms and conditions, which means it’s all you’re guaranteed to get if approved for an account. You might receive a much higher Wells Fargo Platinum Card limit, depending on your income, debt and credit history. But you can’t count on having more than $1,000 to work with for a big-ticket purchase or balance transfers.
With that being said, you may have a tough time finding a 0% credit card with a higher minimum limit than Wells Fargo Platinum. The card currently offers an introductory APR of 0% for 18 months on purchases and 0% for 18 months on qualifying balance transfers (balance transfer fee of 3% intro for 120 days, then up to 5% (min $5)).
Here’s the scoop on Wells Fargo Platinum credit limits:
Credit limits start at $1,000: The more income you have, at least compared to your current debt obligations, the higher you can expect your credit limit to be.
You can ask for an increase: To request a higher Wells Fargo credit card limit, call (800) 642-4720. Your odds of approval are highest if you pay your monthly bills on time and keep your credit utilization low. Wells Fargo may also grant automatic credit line increases to select eligible customers, but there is no way of knowing for sure whether you’ll be among them.
You can move your credit around: If you already have a Wells Fargo credit card and want to open another one, you can ask customer service ((800) 642-4720) to shift some of your existing credit to the new card. You can’t move your entire credit line, though, just an amount above the original account’s minimum credit limit. For example, the Wells Fargo Propel American Express® card has a minimum credit limit of $1,500. If you have a Wells Fargo Propel with a $2,000 limit for instance, you could shift $1,000 in credit to a new Wells Fargo Platinum.
So to recap, your Wells Fargo Platinum credit limit will be $1,000+, and you could get an increase either by requesting one from Wells Fargo customer service at (800) 642-4720 or by moving your credit from another Wells Fargo card. That’s as much as you’ll know going in.
It’s important to remember that these are the lowest credit limits you’ll start out with if you’re approved for an account. You could receive a higher limit. And the actual limit you’ll receive is based on your credit history, income, employment status, level of debt and more. Unfortunately, you won’t know how much your credit limit will be until you’re approved. Wells Fargo does not publicly disclose its maximum credit limits.
If you accept the initial Wells Fargo credit limit offer, you can request an increase in your credit limit after at least six months of timely payments. Also, after six months, Wells Fargo may review your account for an automatic increase. Eligibility is based on things such as payment history and your total amount of debt. But there’s no guarantee when, or if, an automatic increase will occur. An automatic increase uses a soft inquiry, which means your credit score is not affected.
To request a Wells Fargo Platinum credit card limit increase, call customer service at 1 (800) 642-4720. Wells Fargo does not offer an online option.
The odds of getting approved for a Wells Fargo Platinum credit limit increase are highest for accounts with at least six consecutive months of on-time payments. Wells Fargo will also periodically review cardholders' accounts and may offer automatic credit limit increases. There's just no guarantee, when, or if they will occur.… read full answer
The Wells Fargo Platinum credit card’s credit score requirement is 700 or higher. Applicants need good credit or better for approval.
Some users have reported getting approved for the card with credit scores below 700, but applicants with lower scores would be better off improving their credit profile before applying for the card. Wells Fargo Platinum’s credit score requirements are in line with other Wells Fargo cards such as the Cash Wise Visa and Propel American Express cards.… read full answer
In addition to a good or excellent credit score, you will need proof of a steady income to get approved for Wells Fargo Platinum. Other criteria that Wells Fargo will consider include your monthly housing payment, total amount of debt and number of open credit accounts.
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