Chip Lupo, Credit Card Writer
@CLoop
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 minimum payment is the smallest amount you’re obligated to pay by the due date for your Wells Fargo Reflect Card account to be in good standing. Failure to pay by the due date may result in a late fee. Your credit score will also take a hit if you miss multiple minimum payments.
People also ask
What is the Wells Fargo credit card minimum payment?
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...
How long is the Wells Fargo credit card grace period?
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.
What you should know about the Wells Fargo...
read full answerDoes making just the minimum payment hurt my credit score?
No, making just the minimum payment on a credit card does not hurt your credit score, at least not directly. It actually does the opposite. Every time you make at least the minimum credit card payment by the due date, positive information is reported to credit bureaus. Plus, the exact amount you pay doesn’t factor into the payment history portion of your credit score. It’s simply noted that you’ve made a payment on time.
What you...
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