Advertiser Disclosure

Advertiser Disclosure: The credit card and banking offers that appear on this site are from credit card companies and banks from which receives compensation. This compensation may impact how and where products appear on this site, including, for example, the order in which they appear on category pages. does not include all banks, credit card companies or all available credit card offers, although best efforts are made to include a comprehensive list of offers regardless of compensation. Advertiser partners include American Express, Chase, U.S. Bank, and Barclaycard, among others.






Dig Deeper

Become a Money Crasher!
Join our community.

Wells Fargo Platinum Visa® Credit Card Review




At a Glance
wells fargo platinum visa credit card
3.8 / 5

Wells Fargo Platinum Visa® Credit Card

  • Sign-up Bonus: None
  • Rewards: None
  • Intro APR: 0% APR for 18 months on purchases and balance transfers (balance transfers must be made within 120 days of account opening to qualify); after the promotional period ends, variable regular APR applies
  • Fees: Greater of $5 or 3% for balance transfers (intro for 18 months); Greater of $10 or 5% for cash advances
  • Annual Fee: $0
  • Credit Needed: Good/Excellent

Advertiser Disclosure: This post includes references to offers from our partners. We receive compensation when you click on links to those products. However, the opinions expressed here are ours alone and at no time has the editorial content been provided, reviewed, or approved by any issuer.

The Wells Fargo Platinum Visa® Credit Card credit card is a low introductory APR card with no annual fee. Its signature benefit is a long (18-month) 0% APR introductory period for purchases and balance transfers alike. Its ongoing APR falls within a wide range, so its usefulness as an everyday spending credit card is largely dependent on cardholders’ creditworthiness.

If you’re looking for a card that lets you fund a large purchase without immediately accruing interest, or limits the costs associated with transferring a high-interest balance from an existing account, Wells Fargo Platinum deserves your attention.

Key Features

Introductory APR Promotion

Wells Fargo Platinum Visa comes with a 18-month 0% APR promotion on purchases and balance transfers. The balance transfer rate applies to transfers made within 120 days of account opening. After the end of the introductory period, variable regular APR applies, depending on creditworthiness and prevailing rates.

Cell Phone Protection

This benefit, underwritten by Visa, reimburses cardholders for cell phone damage or theft. To qualify, you must pay your cell phone bill in full with your Wells Fargo Platinum Visa card. The benefit is subject to a $25 deductible per claim, a $600 per occurrence limit, and a 2-claim-per-year limit. Importantly, the benefit does not cover lost cell phones – phones must be stolen (with an accompanying police report) or damaged while remaining in the owner’s possession.

Overdraft Protection for Wells Fargo Deposit Account Holders

Wells Fargo’s overdraft protection service allows you to link your credit card account with your Wells Fargo checking account. When you conduct a checking transaction that would normally result in an overdraft, Wells Fargo covers the difference by drawing a cash advance on your Platinum card’s available credit line.

This service is subject to a $12.50 fee for transfers less than $50, and a $20 fee for transfers greater than $50. Advances accrue interest at the regular cash advance rate, which depending on creditworthiness and prevailing rates.

My Money Map

My Money Map is a Wells Fargo feature suite that lets you track your spending, set budget goals, and develop a savings plan across your entire Wells Fargo footprint (including credit and deposit accounts). It also includes a useful resource library with credit and personal finance education tools.

Visa-Backed Benefits

In addition to the cell phone protection benefit, Wells Fargo Platinum Visa comes with a number of useful perks underwritten by Visa. These include:

  • Complimentary loss and damage on rental cars charged in full to your card
  • Travel emergency assistance and roadside assistance
  • Worldwide travel accident insurance (up to $150,000 benefit)

Important Fees

There is no annual fee. Foreign transactions cost 3% of the total transaction amount. Balance transfers cost the greater of $5 or 3% for the first 15 months. After that, it goes up to the greater of $5 or 5%. Cash advances cost the greater of $10 or 5%, and late and returned payments cost up to $37.

Credit Required

This card requires good to excellent credit.


  1. No Annual Fee. This card has no annual fee. That’s great news for thrifty cardholders who wish to take advantage of the introductory APR and minimize their ongoing card usage costs.
  2. Great Intro APR Promotion. This card’s introductory APR promotion includes interest-free purchases and balance transfers for 18 months. That’s better than many competing cards, which either offer interest-free purchases or balance transfers (not both) or limit the promotional timeframe to 9 or 12 months.
  3. Cell Phone Protection Plan Is Nice. Millions of people view cell phones as indispensable, but they’re easy to damage and are common targets of theft. This card’s cell phone protection plan is a great way to protect against the unknown and reduce cell phone replacement costs without paying anything upfront.
  4. Overdraft Protection With Link to Wells Fargo Deposit Account. Though it’s not free, and costs more if you’re not able to pay off the advances promptly, this card’s overdraft protection feature is useful for Wells Fargo checking account customers who occasionally overdraft their accounts – perhaps due to an ill-timed auto-pay bill or a large, unexpected outlay.
  5. No Penalty APR. Wells Fargo Platinum Visa doesn’t charge a penalty APR. That’s good news for cardholders who occasionally miss payments, an issue that can significantly raise the cost of card ownership over the long term.


  1. No Rewards or Cash Back. Wells Fargo Platinum Visa doesn’t offer any rewards or cash back. There are a host of competing, annual-fee-free cards that do offer modest to generous travel rewards or cash back rewards, including Chase Freedom.
  2. No Sign-up Bonus. This card doesn’t have a sign-up bonus, which is disappointing for cardholders looking to sweeten the deal right out of the gate.
  3. Ongoing APR Can Be High. This card’s regular purchase APR can be significantly higher than many competing cards with long 0% APR introductory periods. If you’re planning to use this card heavily after the promotional period ends, your card ownership cost will depend to a great degree on the rate you’re able to secure.
  4. Has a Foreign Transaction Fee. This card’s 3% foreign transaction fee is a costly addition for cardholders who regularly travel abroad. If you’re a jet-setter, consider applying for an annual-fee-free travel rewards card that doesn’t charge foreign transaction fees.

Final Word

The Wells Fargo Platinum Visa® Credit Card is definitely worth a hard look. It has a solid introductory APR promotion for purchases and balance transfers, making it attractive to new cardholders who need to finance large purchases and folks struggling to pay down high-interest balances with other issuers.

On the other hand, it’s not like Wells Fargo Platinum is the only credit card that offers an introductory APR promotion. Unless you’re already in Wells Fargo’s fold, it’s hard to see why you’d choose this card over competitors such as Chase Slate or Citi Simplicity.

wells fargo platinum visa credit card
3.8 / 5

Wells Fargo Platinum Visa® Credit Card

The Wells Fargo Platinum Visa® Credit Card is meant for new cardholders who wish to finance large purchases without accumulating interest from day one, and for those who need to transfer high-interest balances from existing credit card accounts. Aside from some novel fringe benefits, such as cell phone protection, its usefulness is otherwise limited.

This card’s great introductory purchase and balance transfer promotion, overdraft protection service, nice fringe benefits (including cell phone protection), and lack of an annual fee all count in its favor. The lack of rewards or cash back, potentially high ongoing APR, foreign transaction fee, and lack of a sign-up bonus all hurt. Overall, this is a very good card for low-cost balance transfers and upfront purchases, but it is otherwise unremarkable.

Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airline, or hotel chain, and has not been reviewed, approved, or otherwise endorsed by any of these entities. Opinions expressed here are the author's alone, not those of the bank, credit card issuer, airline, or hotel chain, and have not been reviewed, approved, or otherwise endorsed by any of these entities.

Brian Martucci
Brian Martucci writes about credit cards, banking, insurance, travel, and more. When he's not investigating time- and money-saving strategies for Money Crashers readers, you can find him exploring his favorite trails or sampling a new cuisine. Reach him on Twitter @Brian_Martucci.

Comments Disclosure: The below responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

  • Next Up on
    Money Crashers

    Money Fire 100 Bill

    FIRE Movement: Can I Achieve Financial Independence & Retire Early?

    Who says you have to work until you're 65? By merely questioning that one assumption, you crack open the door to new possibilities. The question...
    Renters Insurance Note

    12 Best Renters Insurance Companies of 2020

    My wife and I didn't open our first renters insurance policy until we were well into our 20s, when we began accumulating possessions other than...

    Popular on
    Money Crashers

    Sign Up For Our Newsletter

    See why 218,388 people subscribe to our newsletter.

    What Do You Want To Do
    With Your Money?