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The balance transfer credit card is a great way to consolidate your debts and pay off any outstanding credit card balances. The best balance transfer credit cards offer long periods of 0 percent introductory APR that can help you pay off your transferred balances without incurring interest charges.
If you want to complete a balance transfer, it’s a good idea to understand how balance transfers work, and if you want to complete a balance transfer with Wells Fargo, it’s a good idea to learn a little more about how a Wells Fargo transfer works.
Want to get started with a Wells Fargo credit card balance transfer? We’ll show you how to make a balance transfer with Wells Fargo and what to do once the balance transfer is complete. Plus, we share the best Wells Fargo credit cards for balance transfers; That way you have all the information you need to successfully transfer your balance to Wells Fargo.
How to do a balance transfer with Wells Fargo
There are three ways to complete a Wells Fargo balance transfer. If you are applying for a new Wells Fargo balance transfer card, you can start transferring balance to the card during the application process.
If you already have a Wells Fargo balance transfer card, you can request a balance transfer online or over the phone. In any case, you must provide the 16-digit credit card number with the balance you wish to transfer to Wells Fargo, as well as the amount you wish to transfer from your current credit card. balance on your Wells Fargo credit card.
To transfer a Wells Fargo balance online, log into your Wells Fargo credit card account and select ‘Accounts’ followed by ‘Request Balance Transfer’. Call 1-800-642-4720 to transfer a Wells Fargo balance over the phone. You can also visit a Wells Fargo bank branch to learn more about your balance transfer options.
Would you like to know more about transferring a balance at Wells Fargo? Here are some tips and tricks to help you through the process:
Apply for a Wells Fargo balance transfer credit card
Before you can make a balance transfer with Wells Fargo, you will need a Wells Fargo balance transfer credit card. We’ve got some suggestions below for the best Wells Fargo balance transfer cards, so if you don’t already have one of those top cards in your wallet, consider getting a new credit card.
There are some restrictions on who can get a Wells Fargo credit card. In most cases, you must have a good credit score (minimum 670) and a debt-to-income ratio of less than 36 percent.
It is also important to note that if you have already taken advantage of any Wells Fargo welcome offer, whether it be a sign up bonus or a 0 percent introductory APR, in the past 15 months, you may not be eligible for an introductory offer -APR on a new Wells Fargo card.
Make your balance transfer within 120 days
To take advantage of the 0 percent introductory APR on your Wells Fargo balance transfer card, you must transfer your balance within 120 days of opening your credit card; otherwise you will not get 0 percent on your transferred balance from APR.
You can also save money on balance transfer fees by transferring balance early. When you complete a balance transfer within the first 120 days, you pay a 3 percent fee (minimum $5) on the qualifying balances you transfer. After 120 days, you pay a balance transfer fee of up to 5 percent (minimum $5). This gives you two good reasons to transfer a balance to Wells Fargo as soon as possible.
Have a plan for paying off your transferred balance
Completing a balance transfer is just the first step in getting rid of old credit card debt. You should also pay off your transferred balance, ideally before your 0 percent introductory APR period ends. With that in mind, you’ll want to make a plan.
If you want to pay off your balance before the low introductory APR period ends, how much should your monthly payment be? Can you afford to put that much money into your Wells Fargo credit card each month, or do you have to cut other types of expenses to make payments?
Bankrate’s Balance Transfer Calculator can help you plan ahead and make smart monthly payments that allow you to pay off your balance before interest starts to pile up. You may also want to create a budget that allows you to prioritize your credit card payments for balance transfer without falling behind on any of your other financial obligations.
What to know after completing a balance transfer with Wells Fargo
There are a few things to know about a Wells Fargo credit card balance transfer:
- The balance transfer process is usually quite simple to get started, and it only takes a few steps to request a balance transfer from Wells Fargo.
- That said, balance transfers take time. Please note that it will take a minimum of a week and possibly up to 21 days for your Wells Fargo transfer to take place.
- While you wait for the balance transfer to complete, continue to make payments with your old credit cards. Failure to make credit card payments during the wire transfer process can affect your credit score.
- You can still owe money on your old credit cards even after the balance transfer is complete, thanks to the interest accrued during the balance transfer process. Look closely at your credit card statements and make sure you pay any final interest charges.
How to check the status of your Wells Fargo balance transfer
To check the status of your Wells Fargo balance transfer, log into your Wells Fargo account and view your current balance. Does it include money you transferred from another credit card? If so, your balance transfer is complete. If your Wells Fargo account still doesn’t reflect your transferred balance, you can contact your credit card company for status information, but it’s a good idea to wait at least a week before requesting a status update.
Best Wells Fargo balance transfer credit cards for 2021
Wells Fargo Platinum card: Best for a 0 percent intro APR
- 0 percent introductory APR for 18 months on eligible purchases and balance transfers within the first 120 days of card ownership (16.49 percent to 24.49 percent variable APR thereafter)
- No annual fees
The Wells Fargo Platinum card offers the longest 0 percent introductory APR period of all Wells Fargo balance transfer credit cards – full 18 months with an APR of 0 percent on eligible purchases and balance transfers, followed by a variable APR of 16, 49 percent to 24.49 percent. That gives you a year and a half to pay off your transferred credits without incurring interest charges.
You won’t get cash rewards with Wells Fargo Platinum, but you will get one of the best low-rate APR periods on the market today, so if you’re looking for a balance transfer credit card that gives you plenty of time to pay off pay your transferred balance, consider the Wells Fargo Platinum card.
Wells Fargo Active Cash℠ Card: Best for flat-rate cash rewards
- 0 percent introductory APR for 15 months on eligible purchases and balance transfers within the first 120 days of card ownership (14.49 percent to 24.99 percent variable APR thereafter)
- No annual fees
- Unlimited rewards of 2 percent on purchases
- Receive a $200 rewards bonus after spending $1,000 on purchases in the first 3 months
If you like fixed-rate cash rewards credit cards, the Wells Fargo Active Cash℠ card offers unlimited cash rewards of 2 percent on all purchases, along with 15 months from APR of 0% percent on eligible purchases and balance transfers (14.49 percent at a variable APR of 24.99 percent thereafter), gives you the ability to pay off your previous balances while earning rewards for new purchases.
The low initial APR rate is followed by a variable APR from 14.49 percent to 24.99 percent, so make sure your balance transfers and new fees are paid before the initial 15-month APR period ends. If you can use that time to pay off your transferred credits and settle new purchases before they turn into new credit card debt, Wells Fargo Active Cash may be a good option for you.
Wells Fargo balance transfers: Frequently asked questions
Can you do a balance transfer with Wells Fargo online?
Yes, you can transfer a Wells Fargo balance online. To make a balance transfer online with Wells Fargo, start by logging into your Wells Fargo account online. Select “Accounts” to open a drop-down menu, then select “Request Credit Transfer” from that menu. This will allow you to start transferring a balance to your Wells Fargo credit card.
Is there a Wells Fargo balance transfer limit?
If you transfer a balance to a Wells Fargo credit card, the balance must not exceed your total available credit. Knowing your balance transfer credit limit can help you make smart decisions about which funds to transfer to your card. For example, if you can transfer only a portion of your outstanding credit card debt to your Wells Fargo balance transfer card, you may want to transfer the debt with the higher interest.
Can you transfer a balance from one Wells Fargo card to another?
No, you cannot transfer funds from one Wells Fargo credit card to another. You can only transfer a balance between credit cards that come from different card issuers.
This means you can transfer the balance from a Chase credit card to a Wells Fargo credit card, the balance from a Citi credit card to a Wells Fargo credit card, or the balance from a Wells credit card to a Chase or Citi card. , but you cannot transfer a balance from one Wells Fargo card to another Wells Fargo card.
How do you transfer a balance from a Wells Fargo credit card?
Want to know how to transfer money from Wells Fargo to another credit card? Simply choose a credit card with the highest balance issued by another credit card company and then follow the steps for that issuer to transfer your Wells Fargo credit card balance.
The bottom line
Completing a balance transfer with Wells Fargo is relatively easy and can be completed online, over the phone, or during the Wells Fargo credit card transfer application process.
Wells Fargo’s best balance transfer cards offer an introductory APR of 0 percent for 15-18 months on purchases and balance transfers, giving you more than a year to pay off your transferred balances without accruing interest. Before completing a Wells Fargo transfer, make sure you have a plan to pay off your transferred funds and any additional purchases you make with the card; otherwise, you could end up with new credit card debt.