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Wells Fargo Platinum Card Review

Updated: June 23, 2021

The basics

Balance transfer details

Intro APR


Intro Period

18 months


3% or $5 whichever is greater

Annual Fee


Regular APR

16.49% - 24.49% var

Credit Score Required


Good for: Repaying high-interest and short-term debt

Our verdict

The Wells Fargo Platinum Card is a solid offering for those looking to pay down debt with the lengthy 18-month 0% introductory APR offer. But with no rewards program or sign-up bonus, and a regular APR starting on the higher side at 16.49%, this isn’t a great everyday card after you’ve paid off the amount you transferred.

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Beyond the basics

  • No annual fee
  • 0% introductory APR for 18 months
  • Overdraft protection
  • Cell phone protection

Purchase APR

0% for 18 months

Cash Advance APR

23.99% - 25.99% var

Penalty APR


Sign up Bonus


Foreign Transaction Fees


Late Fees

After 1 year, $40



Full review

Lender description Wells Fargo is a diversified, community-based financial institution with a focus on helping to strengthen communities with its work in diversity and inclusion, economic empowerment, and environmental sustainability.

Best used for

  • Paying off debt

Pros & cons

  • No annual fee
  • 0% introductory APR for 18 months on purchases and balance transfers
  • Cell phone coverage for damage or theft up to $600 with a $25 deductible
  • No rewards program or signup bonus
  • Introductory balance transfer fee of $5 or 3% of the amount transferred, whichever is greater; 5% for each balance transfer after
  • High regular APR (16.49%-24.49%) after intro period ends

Most suitable for

  • Existing Wells Fargo customers
  • Consumers looking to pay down high-interest credit card debt

Card reward details The Wells Fargo Platinum Card has a lengthy 0% introductory APR period on both balance transfers and new purchases, which makes the card ideal for paying down or eliminating debt. Customers can get overdraft protection when they link their Wells Fargo Platinum Card to their Wells Fargo checking account.

How to apply Apply online by providing basic information about you and your finances. You’ll need to be a U.S. citizen or permanent resident. Consumers who opened another Wells Fargo credit card within 15 months of when they apply for the Wells Fargo Platinum Card may not be eligible for the introductory APR offer.

Available The Wells Fargo Platinum Card is available nationwide.

Balance transfer example If you have a balance of $6,200 with an APR of 21% and pay $355 toward the balance each month, you would pay off your debt in 21 months with a total interest of $1,186.44. If you transferred that balance and still paid $355 each month, you’d pay off your debt before the end of the introductory offer and avoid paying interest. But there would be a balance transfer fee of $186.