Credit Tips: Wells Fargo Visa Platinum Card

Posted On: October 1, 2004

Author: NightStar, Credit Expert (100+ Posts)
Joined: 07 Nov 2003
Posts: 1699
Location: Illinois
Posted: Sun Nov 16, 2003 6:22 pm
Post subject: Wells Fargo:

http://www.wellsfargo.com/
Wells Fargo Visa® Platinum Card

Annual percentage rate (APR) for purchases APRs range between 0% and 5.9% for the first 6 billing cycles the account is open*, after that between 7.65% and 19.25%, depending on applicant’s credit qualifications.

*During the Introductory Period, if a minimum monthly payment is not received by its payment due date, or the account is closed, the Introductory APR is forfeited and the APR that will be applied to the outstanding balance will be the variable rate for purchases as determined by the Variable Rate Information section described above. Other APRs Cash Advance APR: 19.99%**

**The APR for cash advances may vary monthly. For most customers, the cash advance APR is determined by adding a margin of 15.24 percentage points to the Prime Rate, subject to a minimum APR for cash advances of 19.99%. (The APR for cash advances will not decrease below 19.99% regardless of changes to the Prime Rate.) Some customers may receive cash advance APRs equal to their variable APR for purchases.

Balance Transfer APRs: Introductory rates range between 0% and 5.9% for the first 6 billing cycles the account is open.* After that, the variable APR for purchases applies. Currently that rate ranges between 7.65% and 19.25% depending on credit qualifications. Penalty Rate: 23.9% See explanation below.***

*** The penalty rate will apply to all balances (including any balances under an introductory APR) if a minimum monthly payment is not received for two successive billing cycles. Variable rate information Your APR for purchase transactions may vary. The rate is determined monthly by adding a margin, ranging between 2.9 and 14.5 percentage points, to the Prime Rate. ****

**** The Prime Rate used to determine your APRs is the highest prime rate published in The Wall Street Journal on the tenth and the twenty-fifth of the month. The APRs for purchases are subject to minimum rates ranging between 7.65% and 19.25% and will not decrease below the applicable minimum rate regardless of changes to the Prime Rate. The maximum periodic APR that will apply to any balance is 23.9%. Grace period for repayment of balances for purchases 20 to 25 days if previous balance is paid in full by its due date

No grace period for balance transfers.

Method of computing the balance for purchases Average Daily Balance (including new purchases)

Annual fee None Minimum finance charge $2.00 You may not qualify for the lowest APRs disclosed above. The APRs that will apply to your account will be determined by our review of your credit report, information you provide on your application, and other relevant information available to us.

Additional Fee Information: Transaction fees for cash advances: $10.00 each day an Overdraft Protection advance is made. 4% of the amount of each ATM, Wells Fargo Online Banking or Customer Service advance ($5 minimum). 4% of the amount of each SUPERCHECKSTM advance ($15 minimum). 4% of the amount of an advance at a participating Financial Institution ($15 minimum). 4% of the amount of each advance from any other source ($20 minimum).

Balance Transfer Fee: $0 for the first 30 days the account is open and after that, 3% of the amount of each balance transfer but not less than $5 or more than $50

Late Payment Fee: $20 on balances up to $100, $29 on balances of $100 up to $1,000, and $35 on balances of $1,000 and over.

Overlimit Fee: $32

Wells Fargo Rewards® Annual Program Fee: $19

Prime Rewards® Annual Program Fee: $70

This information about the cost of the credit card account described in this application is accurate as of July 2003. This information may have changed after that date. To find out what may have changed, call 1-800-642-4720.

View our latest credit card ratings!