Overview

Where does Wells Fargo Personal Line of Credit do business?

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

What are the APRs offered via Wells Fargo Personal Line of Credit?

Wells Fargo Personal Line of Credit offers business loans with variable APRs starting from 9.5% to 21%.

Does 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 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 Typically, fees range from 0.5% to 10% of the amount withdrawn.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 Wells Fargo Personal Line of Credit charge a late fee?

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

Does Wells Fargo Personal Line of Credit charge prepayment fees?

No, Wells Fargo Personal Line of Credit does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the line of credit off and close the account.

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 line of at least $3,000 and as much as $100,000.

What do you need to qualify for a line of credit with Wells Fargo Personal Line of Credit?

Wells Fargo Personal Line of Credit doesn’t disclose its credit score minimum.

Wells Fargo Personal Line of Credit only considers borrowers who are employed, or have a regular source of income or benefits.

Active duty servicemembers and their covered dependents are not considered covered borrowers. In other words, they are eligible to apply for a line of credit 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:

Proof of identity

Recent pay stubs

Proof of income

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 hours and fund personal lines of credit within 3 business days of approval.

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

Wells Fargo Personal Line of Credit reports your account activity to the following credit reporting agencies:

• Equifax
• Experian
• Transunion

Making regular and on-time payments on a credit card that reports your account activity to credit bureaus will demonstrate that you consistently manage debt well and can help increase your credit scores.

How to apply for Wells Fargo Personal Line of Credit

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