A balance transfer credit card is an excellent way to consolidate your debt and pay off outstanding credit card balances. The best balance transfer credit cards offer lengthy 0 percent introductory APR periods that can help you pay off your transferred balances without accruing 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 know 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 do a balance transfer with Wells Fargo, as well as what you should do after your balance transfer has been completed. Plus, we’ll share the best Wells Fargo credit cards for balance transfers—that way, you’ll 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 begin to transfer balances 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 each case, you’ll need to provide the 15- or 16-digit number of the credit card with the balance you’d like to transfer to Wells Fargo, as well as the amount of money you’d like to transfer from your existing credit card balance to your Wells Fargo credit card.
If you want to make a Wells Fargo balance transfer online, log into your Wells Fargo credit card account and select “Accounts” followed by “Request Balance Transfer.” If you want to make a Wells Fargo balance transfer over the phone, call 1-800-642-4720. You can also visit a Wells Fargo banking location to learn more about your balance transfer options.
Want to know more about how to do a balance transfer with 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 do a balance transfer with Wells Fargo, you’re going to need a Wells Fargo balance transfer credit card. We’ve got some suggestions for the best Wells Fargo balance transfer cards below, so if you don’t already have one of those top cards in your wallet, you might want to consider applying for a new credit card.
There are some restrictions on who can get a Wells Fargo credit card. In most cases, you need to have a good credit score (at least 670) and a debt-to-income ratio of less than 36 percent.
It’s also important to note that if you already took advantage of a Wells Fargo welcome offer in the last 15 months—either a sign-up bonus or an introductory 0 percent APR—you might not be eligible for an introductory APR offer on a new Wells Fargo card.
Make your balance transfer within 120 days
If you want to take advantage of your Wells Fargo balance transfer card’s 0 percent introductory APR rate, you need to make your balance transfer within the first 120 days of opening your credit card—otherwise, you won’t get a 0 percent intro APR on your transferred balance.
You can also save money on balance transfer fees by making your balance transfer early. When you complete a balance transfer within the first 120 days, you’ll pay a 3 percent fee ($5 minimum) on qualifying balances you transfer. After 120 days, you’ll pay an up to 5 percent balance transfer fee ($5 minimum). This gives you two good reasons to transfer a balance to Wells Fargo as quickly as possible.
Have a plan for paying off your transferred balance
Completing a balance transfer is only the first step in getting rid of old credit card debt. You also need to pay off your transferred balance—ideally, before your 0 percent introductory APR period expires. With that in mind, you’ll want to make a plan.
If you want to pay off your balance before the low intro APR period expires, how much does your monthly payment need to be? Can you afford to put that much money toward your Wells Fargo balance transfer credit card every month, or will you need to cut back on other types of spending to make the 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 it starts accruing interest. You might also want to create a budget that allows you to prioritize your balance transfer credit card payments 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 you need to know about a Wells Fargo credit card balance transfer:
- The balance transfer process is usually fairly easy to initiate, and it only takes a few steps to request a balance transfer with Wells Fargo.
- That said, balance transfers take time to complete. Expect it to take at least a week—and potentially as long as 21 days—before your Wells Fargo transfer is done.
- While you are waiting for your balance transfer to complete, you need to continue making payments on your old credit cards. Missing credit card payments during the balance transfer process could hurt your credit score.
- You may still owe money on your old credit cards even after your balance transfer has completed, thanks to the interest that accrued during the balance transfer process. Watch your credit card statements carefully, and make sure you pay off any final interest charges.
How to check the status of your Wells Fargo balance transfer
To check your Wells Fargo balance transfer status, log in to your Wells Fargo account and view your current balance. Does it include the money you transferred from another credit card? If so, then your balance transfer is complete. If your Wells Fargo account does not yet reflect your transferred balance, you could contact your credit card issuer to learn more about the status—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 ReflectSM Card
- 0 percent introductory APR for 18 months on purchases and qualifying balance transfers made in the first 120 days of card opening (followed by 12.99 percent to 24.99 percent ongoing variable APR)
- Get a three-month intro APR extension for a total of 21 months with on-time minimum payments during your intro and extension periods
- No annual fee
The Wells Fargo Reflect Card offers the longest potential 0 percent intro APR period of all Wells Fargo cards. You’ll have at least 18 months to pay down your transferred balances without accruing interest charges. And as a reward for your responsible habits, you’ll receive a three-month extension when that 18-month period ends if you’ve made all your minimum payments on time.
You won’t earn any cash rewards with the Wells Fargo Reflect Card, but you will get one of the best zero-interest intro APR periods currently on the market. So if you’re looking for a balance transfer credit card that gives you plenty of time to pay off your transferred balances, keep the Wells Fargo Reflect Card in mind.
Wells Fargo Active Cash℠ Card
- 0 percent introductory APR for 15 months on purchases from account opening and qualifying balance transfers from account opening (14.99 percent to 24.99 percent variable APR thereafter)
- No annual fee
- Unlimited 2 percent cash rewards on purchases
- Earn a $200 cash rewards bonus after spending $1,000 on purchases in the first three months
If you like flat-rate cash rewards credit cards, consider the Wells Fargo Active Cash℠ Card. The Active Cash’s intro APR period is a few months shorter than that of the other cards on this list, but it offers unlimited 2 percent cash rewards on purchases. If you want a card that’s going to be valuable long after your balance transfer is paid off, the Wells Fargo Active Cash could be a good choice for you.
The card charges a variable APR of 14.99 percent to 24.99 percent when the intro APR period ends, so just be sure to pay off your balance transfers and your new charges before then.
Wells Fargo Platinum card (no longer available)*
- 0 percent introductory APR for 18 months on purchases and qualifying balance transfers made in the first 120 days of account opening (16.49 percent to 24.49 percent variable APR thereafter)
- No annual fee
With the launch of the Wells Fargo Reflect Card, the Wells Fargo Platinum card* is no longer available. The Platinum card offered the same 18-month 0 percent introductory APR period as the Reflect Card. However, the Reflect Card is an upgrade from the Platinum with its potential for a three-month extension on the 0 percent intro APR period and a lower variable APR range. On all other fronts, the cards are nearly identical.
Wells Fargo balance transfers: Frequently asked questions
Can you do a balance transfer with Wells Fargo online?
Yes, you can complete a Wells Fargo balance transfer online. If you want to do an online balance transfer with Wells Fargo, start by logging in to your Wells Fargo online account. Select “Accounts” to open a drop-down menu, then select “Request Balance Transfer” from that menu. This lets you begin the process of transferring a balance to your Wells Fargo credit card.
Is there a Wells Fargo balance transfer limit?
If you are transferring a balance to a Wells Fargo credit card, the balance cannot exceed your total available credit. Knowing your balance transfer credit limit will help you make smart choices about which balances to transfer onto your card. If you can only transfer some of your outstanding credit card debt onto your Wells Fargo balance transfer card, for example, you might want to transfer the debt with the highest interest rate.
Can you transfer a balance from one Wells Fargo card to another?
No, you cannot transfer a balance from one Wells Fargo credit card to another. As a rule, you can only transfer a balance between credit cards with different card issuers.
This means that you could transfer a Chase credit card balance to a Wells Fargo credit card, a Citi credit card balance to a Wells Fargo credit card or a Wells Fargo credit card balance to a Chase or Citi card—but you cannot transfer a balance from a 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 top balance transfer credit card issued by a different credit card issuer, then follow that issuer’s steps 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 process of applying for a Wells Fargo balance transfer credit card.
The best Wells Fargo balance transfer cards offer an introductory 0 percent APR between 15 and 18 months (and potential for 21 months) on purchases and balance transfers, giving you well over a year to pay off your transferred balances without accruing interest. Before you complete a Wells Fargo transfer, make sure you have a plan to pay off your transferred balances and any additional purchases you make on the card—otherwise, you could end up with new credit card debt.
*The information about Wells Fargo Platinum card has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer. The Wells Fargo Platinum card is no longer available.