Wells Fargo Platinum card Review

New cardholders enjoy a lengthy APR intro period. Combine that intro offer with the fact this card doesn't charge an annual fee and you have a card that is excellent to have in your wallet.
By Brooklyn Lowery  CardRatings Senior Manager  | Updated

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Wells Fargo Platinum card

Wells Fargo Platinum card
Our Rating:   
Excellent, Good
on Wells Fargo's secure website

CardRatings Editor's Analysis: Pros & Cons

  • Take advantage of an introductory 18 months from account opening of zero interest on purchases and qualifying balance transfers (then, 16.49%-24.49% Variable).
  • There's no annual fee to eat into the money you'll be saving with that lengthy 0-percent APR intro period.
  • Cardholders receive cellular telephone protection if they pay their monthly bills on their card and get easy access to their FICO® Credit Score with Wells Fargo Online®.
  • There isn't an opportunity to earn rewards for your spending with this card.

Wells Fargo Platinum card EssentialsCredit cards these days often dress themselves up with cash-back opportunities or chances to accumulate points or miles. But sometimes what you really need from your credit card is just some extra time to pay off a big purchase without racking up massive amounts of interest or an overdraft protection option to link to your checking account.

And, of course, you would like to do these things without paying an annual fee to carry that card.

If this is you, it’s time to check out the Wells Fargo Platinum card, a no-annual-fee credit card with an introductory 0 percent APR on purchases and qualifying balance transfers. It’s a no-frills, no-annual-fee card you can count on to snag you a bit of extra time to pay off consolidated credit card debt or a big purchase and to be a safety net in the case of an overdraft emergency.

Here are the basics:

  • Enjoy an introductory offer of 0 percent interest for 18 months from account opening on purchases and qualifying balance transfers (then, 16.49%-24.49% Variable).
  • Cellular telephone protection if you pay your monthly bill on the card (up to $600 protection and subject to $25 deductible) against covered damage or theft.
  • No annual fee.
  • Zero Liability protection for unauthorized transactions.
  • Access to budgeting and money management tools.
  • Easy access to your FICO® Credit Score with Wells Fargo Online®.

And, while the Wells Fargo Platinum card doesn’t have reward options, that doesn’t mean it doesn’t come with some helpful (or even money-saving) features to have at your disposal. It’s the kind of card that’s easy to carry and might be exactly what you need in some specific situations (more on this below).

What Our Editors Like Best About Wells Fargo Platinum card

Stuff happens. Your dog shreds your sofa and eats your loveseat. Your best friend decides to get married in Tahiti and asks you to be the maid of honor. Your air conditioner goes kaput on the first 90-degree day of the summer. It’s stuff you can’t necessarily prepare for, but you must pay for.

It’s situations like these that can run up a credit card balance fast and, to add insult to injury, lead to some hefty interest charges. But with the Wells Fargo Platinum card's introductory 0 percent APR on purchases and qualifying balance transfers, you can make those purchases (or transfer them if they’ve already happened) and avoid racking up interest while you work to pay off those charges.

New cardholders have 18 months from account opening to make those purchases and qualifying balance transfers without accruing interest (then, 16.49%-24.49% Variable). This isn’t the stuff of credit card-reward fantasies, but it’s certainly practical and, if you find yourself in these situations, can certainly be a financial lifesaver.

Even after that introductory 0-percent APR period ends, the Wells Fargo Platinum card still packs a punch for your wallet. One unique feature? Cardholders enjoy cellular telephone protection, a unique but potentially huge feature. You can also enjoy easy access to your FICO® Credit Score with Wells Fargo Online®.

Wells Fargo Platinum card cellular protection details:

  • In order to be eligible should you need it, you must pay your monthly cellular bill on your Wells Fargo Platinum card.
  • The coverage protects the primary cardholder for up to $600 in the event the phone is damaged or stolen. Note that the protection does not apply to lost phones.
  • The primary phone on the cellular account as well as the next three phones as listed on the bill are eligible for the protection.
  • Each claim is subject to a $25 deductible and claims are limited to two per year with a maximum benefit of $600 per claim and $1,200 per year.

Potential Downsides of the Wells Fargo Platinum card

This is a no-nonsense card to have in your credit card arsenal, but it does lack the allure of rewards-earning potential. If you’re in the market for low introductory APRs, this card is for you; if you’re looking to rack up rewards as you spend, it’s best you look at perhaps the Wells Fargo Cash Wise Visa® card instead (See Rates and Fees).

Additionally, there are some fees associated with the Wells Fargo Platinum card card that could add up fast. First, there is an intro balance transfer fee of either $5 or 3% of the amount of each balance transfer, whichever is greater, for 120 days from account opening. After that, up to 5% of each balance transfer, with a minimum of $5. And if you’ll be traveling abroad, keep in mind that the Wells Fargo Platinum card does have a 3 percent foreign transaction fee.

How Wells Fargo Platinum card Compares to Other Cards

Wells Fargo Platinum card vs. Chase Freedom Flex℠.

Neither the Wells Fargo Platinum card nor Chase Freedom Flex℠ comes with an annual fee. What they do both come with is an introductory 0% interest period on purchases and qualifying balance transfers though it's just for 15 months for purchases with the Chase card (after the 15 months, the rate jumps to 14.99% - 23.74% Variable for Chase Freedom Flex℠).

Looking beyond the intro offers, the differences are significant.

Chase Freedom Flex℠ is a cash-back rewards card that allows you to earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories every 3 months like gas stations, restaurants, and wholesale clubs. Unlimited 1% cash back on all other purchases.

If you’re looking for a basic card with rewards, you should consider Chase Freedom Flex℠.

Wells Fargo Platinum card vs. Citi Simplicity® Card

The Citi Simplicity® Card (Citi is a CardRatings.com advertiser) brings another noteworthy introductory interest-free period to the table: 12 months (from account opening) with a 0 percent APR on purchases and 21 months (from first balance transfer) on balance transfers – all transfers must be made within the first 4 months (then, 14.74% - 24.74%, based on creditworthiness).

Be advised that if you transfer a balance after the 0% intro offer expires on the Citi Simplicity® Card card, both new purchases and unpaid purchase balances will automatically accrue interest until all balances, including your transferred balance, are paid in full. Furthermore, the Wells Fargo card does offer you that cell phone protection as long as you pay your bill with the card, so it could save you some money even after the intro period ends.

Wells Fargo Platinum card vs. Barclaycard Ring® Mastercard® (This card is not currently available on CardRatings)

The Wells Fargo Platinum card gives you 18 months from account opening of interest-free purchases and qualifying balance transfers (then, 16.49%-24.49% Variable); however, the Barclaycard Ring® Mastercard® has a lower ongoing interest rate on purchases, balance transfers and cash advances (14.24% Variable), so it may be a better choice if you anticipate needing longer than the 18 months from account opening to pay off your card. ()

The Barclaycard Ring® Mastercard® has no annual fee, nor does it charge foreign transaction fees, meaning you’ll save 3 percent per transaction if you use it instead of the Wells Fargo Platinum card when you travel abroad.

Who Should Get This Card?

We see the Wells Fargo Platinum card as an excellent option for the credit card user who doesn’t want a lot of details to keep up with, but does need the option to make a large purchase or consolidate some debt and pay zero interest for a time.

Top Features

 Purchase Intro APR
0% intro APR
 Purchase Intro
0% intro APR
18 months from account opening
 Regular APR
16.49%-24.49% Variable

Wells Fargo Platinum card Compared to Other Low interest Cards

Apply online for Simmons Visa®
Simmons Visa®
Regular APR
16.49%-24.49% Variable 
Regular APR
8.25% variable  
Purchase Intro
0% intro APR
18 months from account opening 
Purchase Intro
Balance Transfer Intro APR
0% intro APR 
Balance Transfer Intro APR

Consumer Reviews

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