The Wells Fargo Platinum Card is now not taking new candidates as of October 2021, though present cardholders can nonetheless use the cardboard. These concerned about a stability switch card might take into account the Wells Fargo Mirror® Card as an alternative.
Should you’re attempting to do the proper factor in your funds, an excellent stability switch card is usually a nice assist in your quest. Whether or not you are attempting to pay down debt or keep away from utilizing your individual money for big purchases, a no-to-low APR can get you properly on the best way to that aim.
Whereas the Wells Fargo Platinum card* as soon as supplied a prolonged 0 p.c introductory APR interval, it’s now not obtainable to new candidates. Nonetheless, there are a number of advantages you possibly can benefit from as an present cardholder.
What advantages does the Wells Fargo Platinum card provide?
Card particulars:
- Rewards price: This card doesn’t provide rewards
- Welcome provide: None
- Annual charge: $0
- Common APR: 16.49 p.c to 24.49 p.c variable APR
- Cellphone safety: As much as $600 for restore or alternative of your telephone, minus a $25 deductible
Along with the Platinum card’s perks and advantages, it helps to know that the Wells Fargo card is issued by a longtime financial institution with deep roots within the monetary companies business.
Wells Fargo is at present the fourth largest financial institution within the U.S. and it holds the oldest repeatedly working financial institution constitution within the U.S. It’s price mentioning, nonetheless, that it has been working to fix its status from a string of scandals previously few years. To this point, it has complied with orders to make issues proper for purchasers like issuing refunds, altering its inside operations and revamping its line of bank cards to be extra aggressive.
Whether or not this can make an enormous distinction to Wells’ prospects stays to be seen, however it helps to know that plans are within the works for a comeback with present and new prospects. These small particulars can generally provide the confidence that your card issuer needs to protect its status and, hopefully, do proper by you as a valued cardholder within the years to come back.
Intro APRs
Should you used the Wells Fargo Platinum card’s introductory APRs previously, Wells Fargo could proceed to ship future stability switch presents to you as a Platinum cardholder. You may additionally obtain comparable presents if you constantly pay your month-to-month invoice. These prequalified presents could possibly be for very low APRs or 0 p.c for added stability transfers, relying on prevailing market situations, the financial institution’s credit score portfolio on the time and your creditworthiness.
It’s also possible to be eligible for a credit score restrict enhance with Wells Fargo so long as you retain low balances and preserve a wholesome credit score profile, particularly concerning your credit score utilization and on-time funds. It doesn’t harm to take care of a Wells Fargo Checking account with bigger balances, both.
The method to request a better restrict is comparatively simple. It may be accomplished on the telephone and may generally end result straight away choice for a credit score restrict enhance.
Cellphone safety
The Wells Fargo Platinum card presents a number of the highest protection you’ll discover for cellphone safety—as much as $600 in reimbursement for restore or alternative of your telephone, minus a $25 deductible. Nonetheless, this insurance coverage kicks in solely when you’ve exhausted different relevant choices like householders’ or auto insurance coverage or protection you bought by your cellphone service or producer.
To activate cellphone safety, you should pay your telephone invoice along with your Wells Fargo card every month. There are extra phrases and limitations to this protection, so learn the positive print to be sure you can benefit from this card profit if you want it.
Credit score training instruments
One other advantage of being a Wells Fargo Platinum cardholder is accessing a number of credit score training instruments, together with:
- Your FICO rating
- Monetary e mail collection
- My Spending Report with Finances Watch
There’s additionally a instrument you should utilize to calculate your debt-to-income ratio, which might generally lead you to presents for different Wells Fargo bank cards or private loans to consolidate your debt.
Extra card perks and advantages from the Wells Fargo Platinum card
It would assist to contemplate the extra perks that usually include bank cards that embrace an annual charge:
- Journey and emergency help companies
- Auto rental collision harm waiver
- Roadside dispatch (pay-per-use roadside help program)
- Worldwide automated widespread service journey accident insurance coverage ($150,000 most)
The underside line
Should you’ve had the Wells Fargo Platinum card in your pockets for some time, retaining it might add to your credit score historical past and enhance your rating if you use it responsibly. You would even be eligible for extra stability switch presents with Wells Fargo down the street. It’s additionally useful you could entry credit score training instruments and further card perks like cellphone insurance coverage, together with journey and emergency help insurance coverage.
If, alas, you need extra card perks throughout, you would possibly simply take into account a rewards card that provides money again or journey rewards. Make sure to take a look at our bank card assessment part in these classes to assist slim down your choice.
*The details about Wells Fargo Platinum card has been collected independently by Bankrate.com. The cardboard particulars haven’t been reviewed or accepted by the cardboard issuer. The Wells Fargo Platinum Card is now not obtainable.
