Wells Fargo Personal Line of Credit Review

Wells Fargo Personal Line of Credit is offered by Wells Fargo Bank, a bank founded in 1852 and based in San Francisco, CA. Wells Fargo Personal Line of Credit is available in 50 states (and Washington, DC).

What APRs does Wells Fargo Personal Line of Credit offer?

Wells Fargo Personal Line of Credit offers a product that ranges from 9.5% APR up to 21% APR.

Does the Wells Fargo Personal Line of Credit charge an origination fee?

No, Wells Fargo Personal Line of Credit does not charge an origination fee.

An origination fee is what some lenders charge for processing, underwriting, and funding a line of credit. These fees can range from 0.5% to 5% of the line of credit amount. Whenever possible, go with lenders that don’t charge origination fees.

Does the Wells Fargo Personal Line of Credit charge a cash advance fee?

No, Wells Fargo Personal Line of Credit doesn't charge a cash advance fee. Some lenders charge a cash advance fee every time borrowers withdraw cash from their line of credit. Typically, fees range from 0.5% to 10% of the amount withdrawn.

Does the Wells Fargo Personal Line of Credit charge a statement balance fee?

Does Wells Fargo Personal Line of Credit charge a late fee?

Yes, Wells Fargo Personal Line of Credit may charge borrowers a late payment fee.

How much can you borrow via Wells Fargo Personal Line of Credit?

Upon approval and based on your credit worthiness, your Wells Fargo Personal Line of Credit personal line of credit will be assigned a credit limit of at least $3,000 and as much as $100,000. .

Wells Fargo Personal Line of Credit Fees

Cash Advance Fee	N/A
Origination Fee	No
Prepayment Fee?	No
Late Payment Fee	No
Statement Balance Fee	No

What do you need to qualify for Wells Fargo Personal Line of Credit?

Wells Fargo Personal Line of Credit does not require or does not disclose a credit score minimum.

Wells Fargo Personal Line of Credit does not have or does not disclose a minimum annual income eligibility requirement. Wells Fargo Personal Line of Credit only considers borrowers who are employed. Note that borrowers can add a co-borrower to either meet eligibility requirements or qualify for lower interest rates.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via Wells Fargo Personal Line of Credit. Their rates fall within the limits of The Military Lending Act.

To qualify, applicants may need to provide the following documentation:

• Recent pay stubs
• Proof of income
• Proof of identity
• Proof of residence

What is the estimated funding time for a personal line of credit via Wells Fargo Personal Line of Credit?

Wells Fargo Personal Line of Credit will typically approve (or deny) a line of credit application within 24 hour s and fund personal lines of credit within 3 business day s of approval.

Does Wells Fargo Personal Line of Credit report your account activity to credit bureaus?

Yes, Wells Fargo Personal Line of Credit 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 Personal Line of Credit

• Visit the Wells Fargo Personal Line of Credit website.
• Fill in the application form. You will typically need to provide general information such as your name, address, email address, Social Security Number, source of income and employment, and checking account information.
• Check the information is accurate and submit your application.