Wells Fargo Rewards Visa Card

Wells Fargo Rewards Visa Card Review

This is a cashback credit card issued by Wells Fargo Bank. If you're wondering whether Wells Fargo Rewards Visa Card is the right card for you, read on. This review will provide you with with all the details you need to make a good choice.

• Generous reward rate. You will get a rewards rate of up to 5x.
• 0% APR balance transfer intro rate. Offers an introductory 0% APR rate on balance transfers for up to 15 months, which is longer than the average 0% APR period of 12 months.
• 0% APR on new purchases. New cardholders receive an introductory 0% APR rate on new purchases for up to 15 months.
• Competitive APRs. Wells Fargo Rewards Visa Card has a variable purchase APR that ranges from 12.49% up to 25.49%.
• No annual fee*. This is a great option for people looking for a low-maintenance cashback card. It gives you cashback on your eligible purchases, but you don't have to pay an annual fee for the privilege.
• 3% Balance transfer fee. Wells Fargo Rewards Visa Card charges a fee of 3% on balance transfers, if you transfer the balance within 120 days of opening the account. For example, a balance of $1,000 could cost $30 in transfer fees. The minimum fee is $5.
• Charges foreign transaction fees. Avoid using this card when traveling abroad because it charges a commission of 3% every time you make a transaction outside the U.S.
• Gas rewards. Up to 5x points on eligible gas purchases.
• Multiple credit card benefits. Includes generous credit card perks, such as rental insurance, emergency support, identity theft protection, travel accident insurance, travel assistance, and fraud protection.
• Fair or better credit required. You will have good approval odds if your credit score is above 640.

The Good

The Bad

15 months 0% introductory APR for purchases and balance transfers Potentially lower than average purchase APRs. 0% APR balance transfer intro rate on balance transfers for up to 15 months. 0% APR on new purchases during the first 15 months. No annual fee. Multiple credit card perks. Offers auto rental collision damage waiver. Free access to your credit score. Identity Theft Protection. Travel accident and travel assistance insurance. Cardholders can earn rewards on their purchases. Wells Fargo Rewards Visa Card reports to multiple credit bureaus.

Low points rewards after introductory period Does not offer a signup bonus. Charges a foreign transaction fee of 3%. Charges a 3% balance transfer fee, if you transfer the balance within 120 days of opening the account. After the introductory period, the fee is 5% of the balance transferred or $5, whichever is greater.

Does Wells Fargo Rewards Visa Card have a cash back or rewards program?

This is a cashback card. This means you earn a percentage of your purchases as cash back rewards. You will receive 1% cash back on travel, dining, groceries, drugstore purchases, or any other purchase. For example, if you buy a $1,000 laptop, you will receive $10 back in cash. However, you can earn up to 5% for purchases in a bonus category.

Wells Fargo Rewards Visa Card Rewards

Minimum rewards rate	1x
Max rewards rate	5x
Annual rewards limit	N/A

What are the Wells Fargo Rewards Visa Card benefits?

It provides the following benefits:

• Free Credit Score
• Auto Rental Collision Damage Waiver
• Emergency Support
• Zero fraud liability
• Travel Accident Insurance
• Cell Phone Protection
• Travel Assistance
• Reports to major credit bureaus

What are the relevant APRs for Wells Fargo Rewards Visa Card?

According to the Federal Reserve Board, the average regular APR is 15% for all credit cards and 17% for accounts that carry a balance. This card has lower than average regular APRs.

Wells Fargo Rewards Visa Card has a variable purchase APR that ranges from 12.49% up to 25.49%. The card has a variable balance transfer APR that ranges from 12.49% up to 25.49%. It also has a variable cash advance APR that ranges from 23.99% up to 25.99%.

What are the fees for Wells Fargo Rewards Visa Card?

The following fees apply:

Wells Fargo Rewards Visa Card Fees

Fees	Amount
Annual Fee	$0
Foreign Transaction Fee	3%
Returned Payment Fee	up to $40
Late Payment Fee	up to $40

This card does not charge an annual fee, which makes it a smart choice for consumers looking for a low-cost cashback card.

Does Wells Fargo Rewards Visa Card report your account activity to credit bureaus?

Yes, Wells Fargo Rewards Visa Card reports your account activity to the following credit reporting agencies:

• Equifax
• Experian
• Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

How to apply for Wells Fargo Rewards Visa Card

• Visit the Wells Fargo Rewards Visa Card website.
• Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, and annual income.
• Check the information is accurate and submit your application.

If your credit score is preventing you from qualifying for this credit card, check out our guide for the best credit cards for bad credit.