If you are looking for credit cards that not only provide payment flexibility but also offer benefits tied to spending, you’ll be interested in learning about the various versions of Wells Fargo credit cards.
In the following article, we want to show you how to apply for a Wells Fargo Credit Card, its features, and some of its benefits. Below, we detail the topics to be covered.
- About Wells Fargo & Co.
- Wells Fargo Credit Cards
- Requirements I Must Meet to Apply for a Wells Fargo Card
- Interest Rates Applied to Wells Fargo Card Transactions
- How to Apply for a Wells Fargo Credit Card Online?
- Is Applying for a Wells Fargo Credit Card Beneficial?
- How Can I Contact Wells Fargo?
About Wells Fargo & Co.
Wells Fargo & Co. is a financial conglomerate that has established a strong presence in the US banking market, not only due to the quality of its assets but also the value of its stock shares on the market.
Its extensive history has led it to internationalize, reaching numerous countries worldwide expanding its product offerings, and integrating millions of customers.
Good service is one of the characteristics that best defines this organization, in addition to the diversity it offers in its financing product catalog.
Financial Products You Can Request at Wells Fargo
Wells Fargo is an organization that has demonstrated the soundness of its principles in capital management. This has allowed it to grow and diversify its product catalog.
As such, you can find alternatives for managing your capital through savings and checking accounts, mortgage, personal, and vehicle acquisition loans, and of course, credit cards.
The latter doesn’t have a wide variety, but each one was designed to meet the needs of a particular audience. For this reason, we want to detail the elements that best define them.
Wells Fargo Credit Cards
The Wells Fargo Credit Card has five versions, as the institution understands that each customer has a specific spending profile, and through these cards, it aims to meet the needs of the population.
Within the institution’s catalog, you can find the Wells Fargo Active Cash, Autograph, Reflect, Hotels.com, and Bilt Mastercard. Each one has distinguishing features.
However, they all share similar characteristics that facilitate your purchases and spending, both domestically and internationally, as they are backed by international consortia.
Features That Differentiate Wells Fargo Credit Cards
Each card has a specific credit limit payable over time, based on the customer’s debt capacity. But it’s also important to highlight some of the most significant features.
- In the case of the Active Cash card, it benefits you with up to 2% cash back on every purchase;
- With Autograph, there’s a reward for spending at establishments that provide products and services for vehicles;
- Reflect offers the lowest introductory interest rate on the market for the first 21 months of use;
- Hotels.com is aimed at customers who frequently incur lodging expenses. With this card, you can enjoy a multitude of exclusive offers and prices in this category;
- The Bilt Mastercard offers a rewards program for rental-related expenses.
As you can see, each card is designed for a specific purpose, which is why it’s important to analyze your spending profile before applying, so that you can maximize their benefits.
Requirements to Apply for a Wells Fargo Card
As these are distinct payment tools, each Wells Fargo credit card has specific approval conditions. However, there are conditions stipulated by the bank that align, as listed below.
- You must have a positive credit history and a score above 670;
- Demonstrate to the financial institution that you have a stable source of income. However, there’s no minimum income requirement for your application;
- You need to have a valid Social Security card. An alternative can be to provide a document that includes your Taxpayer Identification Number;
- You must be a legal resident of the United States and provide proof of your residence address with a contract or document.
Before applying for any of these cards, Wells Fargo analyzes your profile to determine your behavior with similar products. Therefore, having a good reputation in your credit history is important.
Documents to Submit to Apply for a Wells Fargo Card
After verifying that you meet the aforementioned requirements, you must submit documents to the institution to support the information provided in the application process, such as the ones listed here.
- Valid identification document that includes the Social Security Number or the Taxpayer Identification Number;
- Proof of your residence validation;
- Proof of income or employment certification issued by your employer;
- If you are a foreigner, you must prove your legal residency status within the country.
If Wells Fargo requires the submission of other documents, make sure to include them in your application, as they serve as evidence to verify the accuracy of the information.
Interest Rates Applied to Wells Fargo Card Transactions
As these are tools that provide you with a credit limit payable over time, you must assume the payment of an interest rate on the spending you incur, depending on the credit card you apply for.
- If you choose the Reflect version, the interest rate applied to purchases, spending, and balance transfers ranges from 15.24% to 27.24%. The cash advance factor is 28.24%;
- If you apply for the Hotels.com card, you’ll have to pay an interest rate equal to the previous one, but the cash advance factor will be 26.99%;
- If you instead opt for the Bilt Mastercard, the rate can vary between 18.49%, 21.49%, and 26.49%, depending on your risk level as a customer. The cash withdrawal factor will be 26.24%;
- The Autograph card has a particular feature; the introductory interest rate for the first 12 months is 0%. From the 13th month onwards, the rate will be 17.24%, 22.24%, or 27.24%;
- The Active Cash card is linked to an interest rate equal to the Autograph, but the interest waiver extends to the first 15 billing months.
Before choosing a Wells Fargo credit card, it’s important to analyze your spending profile to determine which one offers you the most benefits and best meets your financial needs.
Fees Applied to Operations with Wells Fargo Credit Card
In addition to interest payments, when you obtain any of these cards, you must also cover fees generated by the transactions you perform with them. Below are the most significant fees.
- For each balance transfer, an introductory fee of $5 or 3% of the transfer amount is applied;
- For cash advances, you’ll need to pay $10 or 5% of the total balance;
- For currency exchanges other than the US dollar, a 3% commission on the transaction is applied.
In the event of default or delays in paying the agreed-upon installments in your repayment plan, in addition to incurring a special interest rate, you’ll also be subject to a $40 penalty.
How to Apply for a Wells Fargo Credit Card Online?
After verifying that you meet the requirements and conditions set by Wells Fargo, go to the institution’s website and follow the outlined steps.
- On the main panel, you’ll find the “Credit Cards” section. Enter there and review the features of each card;
- Once you’ve chosen the card you wish to apply for, click on the “Apply Now” button located on the right side of the screen;
- Fill out the form with your personal information and financial details;
- Accept the terms and conditions by checking the indicated box and selecting the “Submit” button.
From this point on, your application will be sent to the corresponding department, and if you meet the requirements, Wells Fargo will schedule an appointment for you to attend and submit the documents.
How Can I Find Out if I Qualify for a Wells Fargo Credit Card?
To avoid a negative response from the bank, Wells Fargo has developed a digital tool that allows you to evaluate your profile and determine if you could be prequalified for any of these cards.
To do this, simply go to the Wells Fargo website and locate the “Credit Card Pre-Selections” section. Enter your personal information and fill out the presented form.
Upon submitting the information, the institution will inform you if you have been prequalified for any of these credit cards, and later, you’ll be invited to formally apply through this online portal.
Is Applying for a Wells Fargo Credit Card Beneficial?
To obtain any of these cards, you need to have a fairly high credit score, which is why it’s considered a tool that’s not easily attainable. However, some factors position it well in the market.
- It’s ideal for specific types of spending, depending on the card, as you can benefit from applied discounts;
- The application process is straightforward and can be done online;
- In addition to benefiting from a credit limit, you can earn rewards for your spending;
- In two of its versions, you can enjoy interest waivers.
However, the element that positions these credit cards as a good option is that they are backed by international financial consortia, allowing you to access funds both domestically and internationally.
What Happens If My Wells Fargo Card Application Is Denied?
If you receive a negative response from the institution, in addition to requesting the reasons why your application was not accepted, you should verify the following factors.
- Credit score, as this is a decisive factor for any type of application;
- Check if you have debts with other institutions by requesting a summary of your credit history;
- Another factor to consider, which affects your credit score when applying for these tools, is your current credit card debt, as even if you don’t have any delays, it reduces your borrowing capacity.
Not having credit cards can also be the reason for a negative response from the bank, as these companies consider your credit history to be too small, making it difficult to assess the risk you pose.
How Can I Contact Wells Fargo?
If you need the assistance of a financial agent or want to make an in-person visit to verify this information, you can go to the main branch of this bank located in San Francisco, California, United States.
To find the branch closest to your home or workplace, you can access the bank’s website and locate the “Branches and ATMs” section, located on the main panel of the page.
Phone Contact and Wells Fargo Website
If you need to clarify doubts, report an emergency, or simply manage a request with Wells Fargo, you can call the number 1-877-727-2932, available 24 hours a day.
To verify the information about these products or the requirements you must meet before applying for any of them, you can visit the Wells Fargo website and explore all the options under the “Credit Cards” section.
Wells Fargo offers multiple financing options. To benefit from any of them, you just need to follow the described guidelines and meet the stipulated requirements.
Disclaimer: When obtaining any of these credit cards, you should understand the risks associated with their use. Therefore, I encourage you to review the terms and conditions issued by Wells Fargo.