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Wells Fargo Platinum card Review

New cardholders can enjoy a lengthy APR intro period making it a great card option for anyone looking for extra time to pay for a new purchase or to pay off an existing balance interest free.
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 0% 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% 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.


When you boil down a credit card to its most basic form, you have a tool that allows you to make a purchase today that you can pay back tomorrow or later down the line. Many credit cards include additional features like rewards-earning potential for purchases and travel benefits, but at the end of the day the card gives you the ability to buy now and pay later.

For those who are currently looking for a card that offers an long introductory period to pay back purchases without many of the additional bells and whistles, the Wells Fargo Platinum card may be a good fit. The Wells Fargo Platinum card has one of the best introductory 0% APR periods on the market as well as some very useful features like cell phone protection coverage all with no annual fee.


The Wells Fargo Platinum card has one of the best introductory 0% APR offers available. New cardholders have 18 months from account opening to make purchases and qualifying balance transfers (balance transfers made within 120 days from account opening qualify for intro rate and fee) without accruing any interest. Once the intro period expires, regular 16.49%-24.49% Variable APR applies.

If you are planning a large purchase that you will need an extended period of time to pay off or you have an emergency expenditure that comes on you suddenly, having the ability to make those purchases with this card in the introductory period and accrue no interest during the period can certainly be a financial lifesaver. Alternatively, if you're currently carrying a hefty balance and need some extra time to pay off that balance, this offer could really come in handy.


The Wells Fargo Platinum card doesn’t charge an annual fee, so it’s a good option to have in your wallet even if you’re not using it every day. Additionally, the card offers the following notable features:

  • Up to $600 in cellular telephone protection (subject to a $25 deductible) against covered damage or theft if you pay your monthly bill on the card. 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.
  • Zero Liability protection for unauthorized transactions gives you peace of mind should your card information become compromised.
  • Easy access to your FICO credit score with Wells Fargo Online.
  • Card and account activity alerts to help monitor your spending purchases and any suspicious activity with text and email alerts and notifications.
  • My Money Map tools to help you manage spending and create a budget with ease.

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


The Wells Fargo Platinum card requires good to excellent credit in order to get approved. A good FICO score is typically anything above 670, according to the credit scoring agency Experian, but having a score above 740 or even 800 may further increase your chances of approval. Please note though that these numbers can vary between different bureaus and there are also other factors that could also be considered in the application process such as payment history of revolving credit, your total open cards, and the average age of accounts open. For those who have a limited credit history or are currently building their credit, it may be difficult to get approved for this card.


The Wells Fargo Platinum cardis a no-frills card that offers a great intro APR period and useful benefits like cell phone coverage. The card does, however, lack the allure of rewards-earning potential and travel benefits that you find in many other credit cards. If you’re primarily in the market for a low introductory APR and no annual fee, this card could be a good fit for you; if you’re looking to rack up rewards as you spend, it’s probably best you look at a rewards-earning credit card like the Wells Fargo Active Cash ℠ Card.

Additionally, there are some fees associated with the Wells Fargo Platinum card that could add up fast. First, there is an intro balance transfer fee of 3% for 120 days from account opening, then up to 5%; min: $5. Keep in mind though that this is common with balance transfer offers, and it’s rare that we ever come across a card where this fee is waived.

Also, if you’ll be traveling abroad, keep in mind that this caerd does have a 3% foreign transaction fee so it may be best to pack another credit card if you travel internationally often.


Wells Fargo Platinum card vs. Wells Fargo Active Cash ℠ Card

The Wells Fargo Active Cash ℠ Card is a different no-annual-fee card offering from Wells Fargo that offers the opportunity to earn rewards. This card gives new cardholders an opportunity to earn an introductory cash-rewards bonus of $200 after spending $1,000 on purchases in the first three months of opening an account, and 2% cash rewards on purchases on an ongoing basis with no category limitations or quarterly activations to worry about.

The Wells Fargo Active Cash ℠ Card also has the same cell phone coverage that the Platinum card offers. Where the Platinum card gets the edge is the 18 months of intro 0% APR for purchases and balance transfers versus a still respectable 15 months with the Wells Fargo Active Cash ℠ Card (then 14.99%-24.99% (Variable)). If you would still like a long intro 0% APR period with rewards-earning potential, the Wells Fargo Active Cash ℠ Card could be a great alternative to the Platinum card.

Wells Fargo Platinum card vs. Chase Freedom Flex℠

With no annual fee, excellent rewards earning opportunities and valuable cardholder benefits the Chase Freedom Flex℠ could be a great alternative to the Wells Fargo Platinum card.

Both of these cards come with is an introductory 0% interest period, though it's just for 15 months on purchases with the Chase card (after the first 15 months, the rate jumps to 14.99% - 23.74% Variable). In addition to the introductory 0% APR period, the Chase Freedom Flex℠ card also has an introductory bonus offer of $200 back after you spend $500 on purchases in your first three months from account opening.

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 rotating bonus categories each quarter you activate. Additionally, on an ongoing basis earn 5% on travel purchased through Chase Ultimate Rewards, 3% on dining at restaurants and on drugstore purchases, and 1% on all other purchases.

Wells Fargo Platinum card vs. Citi Simplicity® Card

If you would like an alternative no-annual-fee card with an impressive balance transfer intro 0% APR period, the Citi Simplicity® Card may be a great option to consider. Citi is a CardRatings advertiser.

The Citi Simplicity® Card offers 0% intro APR for 18 months on purchases from date of account opening and 0% Intro APR for 18 months on balance transfers from date of first transfer. After that the variable APR will be 14.74% - 24.74% (Variable), based on your creditworthiness. Balance transfers must be completed within four months of account opening.

Similar to the Wells Fargo option, the Citi Simplicity® Card is a no frills credit card designed for people looking for an extended 0% intro APR period.


The Wells Fargo Platinum card is a very useful credit card and could be a great fit for the right person. For those who don’t want a lot of details to keep up with, but do need the option to make a large purchase or consolidate some debt and pay zero interest for a time, the Wells Fargo Platinum card is a great card option.

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