The Wells Fargo Platinum Visa® Credit Card is a simple card that offers 15 months of 0% intro APR on both purchases and balance transfers, after which a variable APR of 15.40%-25.24% will apply. Also, it includes mobile phone insurance against damage and theft, and has no annual fee. Here are the details…
- Access to the My Money Map tool to help you create a budget and manage your spending.
- 0% intro APR on balance transfers and purchases for 15 months, then 15.40%-25.24% variable APR.
- Mobile phone insurance against damage and theft
- No annual fee
How It Works?
My Money Map: This is an online tool designed to help cardmembers create a budget and manage their spending. It is pretty easy to use and could be helpful to anyone trying to get control of his/her finances.
APR: Introductory 0% APR on purchases and balance transfers that is good for the first 15 months. After that, the rate goes to anywhere between 15.40% and 25.24% (variable), based on your creditworthiness.
Balance transfer fee: Also during the first 15 month, the balance transfer fee is 3%, after which it goes to 5%. So if you want to move balance from some other card, you better do it within the first year (or so) when you will also benefit from the mentioned 0% intro APR rate.
Platinum Visa benefits: Shopping and travel perks that make for a that much better (and safer) experience.
Mobile phone insurance: With this card, you get insurance against your mobile phone damage or theft, up to $600 per claim. There is a $25 deductible and a maximum of 2 claims in a 12-month period. In order to qualify, you need to use the card to pay for your monthly mobile phone bill.
Costs
- 0% Intro APR on Purchases and Balance Transfers for 15 Months, then 15.40%-25.24% Variable
- 3% Balance Transfer Fee for the first 15 months, then 5%.
- 3% Foreign Transaction Fee
- $0 Annual Fee
At Wells Fargo’s secure website
Pros
- 15 months of 0% APR could be enough to get out of debt. Or at least, to eliminate a big chunk of it.
- Mobile phone insurance – the feat that seldom comes included with a credit card product.
Cons
- No rewards of any kind – and we’re not sure why that’s the case. There are other Wells Fargo cards offering either points or cash back.
- Foreign transaction fee – makes you want to carry a different card when travelling outside of the U.S.
Is This The Card For You?
If, for some reason, you are not interested in credit card rewards and just want a basic card that also happens to offer a period (15 months) of 0% APR, the Wells Fargo Platinum Visa® Credit Card is made for you. Otherwise, we would suggest you to look for a different product, one that will reward every purchase you make. Or at least those that matter to you. This card, however, offers mobile phone insurance against damage and theft, which isn’t something we see everywhere. So do check it out, and see whether it could work for you.