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Wells Fargo Platinum Visa Card review

Published: March 22, 2019

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Published: March 22, 2019

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Ratings Policy
Balance Transfer Rating:
4.4 rating
4.4 rating
4.4 / 5
Introductory Offer: 4.7
Net Value: 2.8
Features: 3.0
Customer Experience 2.1

In a Nutshell:

When it comes to paying down credit card debt, the Wells Fargo Platinum Visa card is one of the best cards out there. Its 18-month 0-percent intro APR (then 17.74-27.24% variable) and no annual fee give you the cushion you need to make progress.

Best Balance Transfer Card for Long 0% APR Period

Learn more about this card

0% Introductory Period for Balance Transfers
18 months

Transfer Fee
3% for the first 120 days, then 5%

Introductory Purchase APR
0% for 18 months

Regular APR
17.74-27.24% (variable)

Annual Fee

Customer Experience

Other Notable Features:  Up to $600 cell phone protection; free access to FICO credit score; roadside dispatch; overdraft protection; rapid alerts

If you’re looking for a serviceable balance transfer card to help you pay down credit card debt, the Wells Fargo Platinum Visa card is a no-frills option with one of the longest 0-percent intro periods available: 18 months.

However, don’t forget about the fees. For instance, there is a 3-percent foreign transaction fee and a 3-percent balance transfer fee (for transfers made within the first 120 days, then 5 percent). (Both fees are above average when compared with similar cards.)

The regular rates range up to the higher end as well, at 17.74 to 27.24 percent (variable). So cardholders should make payments promptly during the low APR months. Generally, the minimum payments are applied to the lower APR balances before the balances with higher APR.

Acknowledging the fact that this card doesn’t offer a traditional rewards package, Wells Fargo provides cell phone insurance instead. When cardholders pay their phone bill using the card, they earn up to $600 worth of protection against damage or theft. It’s one of the unique offers in a line of protection-focused perks that come with the card.

Auto rental collision damage waiver

The Auto Rental Collision Damage Waiver (CDW) offers insurance coverage for automobile rentals made with your Visa card. The insurance provides reimbursement for damage due to collision or theft up to the actual cash value of most rental vehicles.

Only the valid cardholder (the primary renter of the vehicle) is eligible for the waiver. If the cardholder doesn’t have personal auto insurance, the CDW will reimburse costs involving the following: theft, damage, valid administrative and loss-of-use charges imposed by the auto rental company, and reasonable towing charges that occur while you are responsible for the rental vehicle.

Travel accident insurance

This benefit offers services designed to help you in case of an emergency while traveling. The services are available 24 hours a day, 365 days a year.

Available services include: emergency messaging service, medical and legal referral assistance, emergency transportation assistance, emergency ticket replacement, lost luggage locator service, emergency translation service, prescription assistance and valuable document delivery arrangements

Eligibility applies to valid Visa cardholders as well as their spouse and children — provided the children are under 22 years old.

$0 liability

At no extra cost, the Wells Fargo Platinum Visa card provides protection from liability for unauthorized transactions. As long as you report the transactions promptly, you shouldn’t be held responsible.

My Money Map tools

Wells Fargo offers cardholders access to money management tools to help better organize finances. My Money Map tools assist with the following areas: tracking spending, budgeting, saving and resources for future financial stability.

Why get the Wells Fargo Platinum Visa Card?

  • You want a substantial 18-month head start toward paying down debt.
  • You’re already a Wells Fargo customer and want to solidify or rework your financial system.
  • You want plenty of additional protection that not many other cards offer.
  • You’re not big on rewards but having no annual fee is important.

How to use the Wells Fargo Platinum Visa Card:

  • If you’ve opened a Wells Fargo card in the last 15 months, call to make sure you’re eligible for the intro APR offer on this card.
  • Try to pay down as much debt as possible within the 18-month intro period. If you have debt that would take longer to pay off, the accruing interest will offset any money you’ve saved.
  • Once your 0-percent period begins, establish a payment plan to pay off your balance on time.
  • Pay your phone bill with your Wells Fargo Consumer Credit Card in order to be eligible for cell phone protection. The coverage does not apply if the phone bill is paid from a Wells Fargo Debit Card, Wells Fargo Business Credit Card, Wells Fargo Commercial Card or from the card that is linked to a Line of Credit.

Our reviews and best card recommendations are based on an objective rating process and are not driven by advertising dollars. However, we do receive compensation when you click on links to products from our partners. Learn more about our advertising policy

All reviews are prepared by staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including card rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the bank’s website for the most current information.

Responses to comments in the discussion section below are not provided, reviewed, approved, endorsed or commissioned by our financial partners. It is not our partner’s responsibility to ensure all posts or questions are answered.

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