Determining whether a Wells Fargo balance transfer is worthwhile depends on various factors, including the interest rate differential, the transfer fees levied and the impact the transaction will have your credit score. Generally, transferring a balance from a high-interest card to one with a lower rate, can meaningfully reduce interest expense. The savings can be amplified when a balance is moved to a card with a generous 0% interest promotional period.

That said, balance transfer fees, which are usually levied as a percentage of the transferred amount, can limit savings. The attractiveness of a Wells Fargo balance transfer can also be diminished in situations where the transaction results in significant credit score impairment.