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Wells Fargo Platinum Card Review

A no-frills, plain-vanilla credit card.

About.com Rating 2.5 Star Rating

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Don't be fooled by the name: there's nothing "platinum" about this card.

Who the Wells Fargo Platinum Card Is For

  • Wells Fargo customers who want a basic credit card with no rewards.

Credit Rating Required

  • Fair and up (660+).

About the Wells Fargo Platinum Card

Pros

  • Relatively low interest rates.
  • Decent introductory balance transfer offer.

Cons

  • No rewards.

Rewards

  • None.

APRs

  • 0% on purchases and balance transfers for first six months, then 10.15% to 22.15% depending on your credit history.

Fees

  • No annual fee.
  • Balance transfer fee: 3% of balance during introductory period, otherwise 5%.
  • Late payment fee: Up to $35.
  • Returned check fee: Up to $35.

Wells Fargo Platinum Card Review

When you think "platinum" credit card, I usually think of great rewards or some other great benefit, don't you? At least that's what it used to mean.

That's certainly not the case here. This card is just a plain vanilla Visa card with no rewards.

On the plus side, this is Wells' lowest rate card, albeit marginally. It's only a point lower than its other cards.

Recommendation

If you're a Wells Fargo customer and want a credit card with them, why not get the Wells Fargo Cash Back Card or the Wells Fargo Rewards Card? Both cards pay you a 1% reward on your spending, the Cash card in cash (surprise) and the Rewards card in points.

If you have a home mortgage with Wells Fargo and want to pay it off early, you might be interested in the Wells Fargo Home Rebate Card. You get 1% back on your spending, credited to your mortgage account.

If you are rebuilding your credit or have poor credit you might need a secured card. Check out the Wells Fargo Secured Credit Card. It's one of the best secured credit cards on the market.

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