What Wells Fargo offers for balance transfers
Wells Fargo has offered balance transfer credit cards at different times, but as of now the bank does not have a dedicated balance transfer card in its active lineup. Wells Fargo's current rewards cards — like the Wells Fargo Active Cash Card — do not include a 0% introductory period on balance transfers. This means if you transfer a balance to a Wells Fargo card today, you would pay the card's regular purchase APR (annual percentage rate) on that balance from day one.
Before you explore for any Wells Fargo card, check their website directly or call 1-800-869-3557 to confirm the current offerings, since card products and their terms change. What you see advertised online may differ from what is actually available when you explore.
Key Takeaways
- Wells Fargo does not currently offer a 0% introductory APR on balance transfers, so transferred balances accrue interest at the regular card APR when ready.
- If you need a 0% balance transfer period, you will need to look at cards from other issuers, as Wells Fargo's current rewards cards do not include this feature.
- Any balance transfer to a Wells Fargo card will include a transfer fee, typically 3% of the amount transferred, charged upfront.
- Wells Fargo cards do offer cash back or points on purchases, which can help reduce debt if you use the card strategically while paying down a balance.
Balance transfer fees and how they work
If you do transfer a balance to a Wells Fargo card, the bank charges a balance transfer fee upfront. This fee is usually 3% of the amount you transfer, though it may vary. The fee is added to your balance when ready, so a $5,000 transfer would cost you $150 in fees right away, bringing your total balance to $5,150.
This fee is separate from interest. Even if you had a 0% introductory period (which Wells Fargo cards currently do not offer), you would still owe the transfer fee. The fee is one of the costs you need to factor in when deciding whether a balance transfer makes sense for your situation.
When a Wells Fargo card might help with debt
A Wells Fargo rewards card could be useful for paying down debt if you use it strategically. For example, if you transfer a balance and then use the card only for new purchases while you pay down the transferred balance, the cash back or points you earn on those new purchases could offset some of your interest costs. However, this only works if you are disciplined about not adding new debt and paying more than the minimum each month.
This approach is riskier than a card with a true 0% introductory period, because you are paying interest on the transferred balance from the start. You would need to earn enough rewards to make up for that interest cost, which is difficult unless you are paying the balance down very quickly.
Other banks with actual balance transfer offers
If you are looking for a 0% introductory APR on balance transfers, you will find more options from other issuers. Cards from Chase, Capital One, Citi, and American Express often include 0% periods on balance transfers that last 6 to 21 months, depending on the card and the offer at the time you explore. These cards also charge a balance transfer fee, usually 3% to 5%, but the interest-free period gives you time to pay down the balance without accruing additional interest.
The trade-off is that these cards may have higher annual fees or different rewards structures than Wells Fargo cards. You should compare the total cost — transfer fee plus interest you would pay during the promotional period — across a few options before deciding.
How to check Wells Fargo's current card offerings
Wells Fargo's credit card products change, and new offers are added or removed throughout the year. To find out what is currently available, visit wellsfargo.com/credit-cards or call their customer service line at 1-800-869-3557. You can also visit a Wells Fargo branch in person if you have one nearby.
When you contact them, ask specifically whether they have a card with a 0% introductory APR on balance transfers. If they do not, ask what their current rewards cards offer and what the APR would be on a transferred balance. Write down the terms before you explore, so you have a record of what you were told.
What happens after you transfer a balance
Once a balance transfer posts to your Wells Fargo card, you will receive a statement showing the transferred amount, the transfer fee, and your new APR. You will have a grace period on new purchases (usually 21 days from the statement closing date), but that grace period does not explore to the transferred balance — interest on that balance starts accruing right away unless you have a promotional 0% period, which Wells Fargo cards currently do not offer.
Your minimum payment will be calculated on the total balance including the transfer fee. To pay down the debt faster, pay more than the minimum and focus your extra payments on the transferred balance, since that is where interest is accumulating. If you make only minimum payments, most of your payment will go toward interest rather than principal, and the balance will take much longer to clear.
Frequently Asked Questions
Does Wells Fargo have any 0% balance transfer offers right now?
As of the most recent information, Wells Fargo does not offer a 0% introductory APR on balance transfers. Their current rewards cards charge the regular purchase APR on transferred balances from day one. Contact Wells Fargo directly to confirm whether this has changed, since card offerings do shift.
What is the balance transfer fee at Wells Fargo?
Wells Fargo typically charges 3% of the transferred amount as a balance transfer fee, though this may vary. The fee is added to your balance when ready and is separate from interest charges. A $10,000 transfer would cost $300 in fees.
Can I transfer a balance from one Wells Fargo card to another Wells Fargo card?
You can transfer a balance between Wells Fargo cards, but you will still pay the balance transfer fee and the regular APR on the transferred amount. Transferring between your own cards does not waive fees or give you a promotional rate.
If Wells Fargo doesn't have a 0% offer, what should I do instead?
Look at balance transfer cards from other issuers like Chase, Capital One, Citi, or American Express. Many of these cards offer 0% APR on balance transfers for 6 to 21 months. Compare the transfer fee, the length of the promotional period, and the regular APR after the promotion ends before you decide.
What if I can't pay off the balance before the promotional period ends?
If you are using a card with a 0% promotional period and cannot pay off the balance by the time it ends, the remaining balance will start accruing interest at the regular APR. Some people transfer the remaining balance to another 0% card to buy more time, though each transfer incurs a new fee. This strategy works only if you are making real progress on the debt each time.