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Credit Cards
Best Wells Fargo Balance Transfer Credit Cards

Advertiser Disclosure Published: Apr 24, 2024, 11:17am

Best Wells Fargo Balance Transfer Credit Cards Of April 2024

Jon Nickel-D'AndreaCredit Cards Expert Writer

For more than 10 years, Jon Nickel-D'Andrea has been a sought-after expert on how to travel the world using rewards points and miles. Jon has been featured in local and national publications and as a speaker at various seminars across the world. Combining his deep knowledge of credit cards, rewards programs, airlines and hotels with his unique style and sense of humor, Jon makes the complex web of these programs more fun and easy to understand. He lives in Seattle with his husband Ben and their 4-year-old beagle pup.

Jon Nickel-D'Andrea

Jon Nickel-D'AndreaCredit Cards Expert Writer

Credit Cards Expert Writer

Dylan PearlDeputy Editor

Over a decade of editorial experience across a number of publications and more than 60 countries visited have given Dylan Pearl a wealth of travel knowledge, and the tools to effectively communicate that knowledge to others. Dylan has made it his mission to see as much of the world as possible, and strives to give everyone the tools to get out and do the same with simple, actionable information.

Fact Checked

Dylan Pearl

Dylan PearlDeputy Editor

Deputy Editor

Fact Checked

Published: Apr 24, 2024, 11:17am

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations.

Carrying a balance on your credit cards can lead to high interest rates and charges. While it might be necessary at times, the amount you’re paying can skyrocket over time. One of the most common ways to get rid of those balances is by transferring a balance to another credit card.

Wells Fargo offers two cards that allow you to consolidate your high interest rate credit card balances, giving you the ability to save hundreds of dollars each year.

Show Summary

Wells Fargo Balance Transfer Credit Cards

Wells Fargo Reflect® Card: Best for lengthy intro APR period
Wells Fargo Active Cash® Card: Best for flat-rate cash rewards

Find the Best Credit Card

The Wells Fargo Balance Transfer Credit Cards of 2024

Best for lengthy intro APR period

Wells Fargo Reflect® Card

Apply Now

On Wells Fargo's Website

Click Here To Apply Now

Rates & Fees

Welcome Bonus

N/A

Annual Fee

Regular APR

18.24%, 24.74%, or 29.99% Variable APR

Credit Score

Excellent, Good (700 - 749)

Editor's Take

Those seeking a balance transfer card will likely appreciate that the Wells Fargo Reflect Card offers a generous introductory APR period on purchases and qualifying balance transfers. However, the card doesn’t offer rewards or other notable benefits, so give it a pass if you don’t need a long introductory APR period.

Pros & Cons

Generous introductory APR period for purchases and qualifying balance transfers
$0 Annual Fee

No rewards program or welcome bonus
Balance transfer fee: 5%, min: $5
3% Foreign transaction fee

Card Details

Select “Apply Now” to take advantage of this specific offer and learn more about product features, terms and conditions.
0% intro APR for 21 months from account opening on purchases and qualifying balance transfers. 18.24%, 24.74%, or 29.99% variable APR thereafter; balance transfers made within 120 days qualify for the intro rate, BT fee of 5%, min $5.
$0 Annual Fee.
Up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible.
Through My Wells Fargo Deals, you can get access to personalized deals from a variety of merchants. It’s an easy way to earn cash back as an account credit when you shop, dine, or enjoy an experience simply by using an eligible Wells Fargo credit card.

Best for flat-rate cash rewards

Wells Fargo Active Cash® Card

Apply Now

On Wells Fargo's Website

Click Here To Apply Now

Rates & Fees

Unlimited 2% Rewards Rate

Earn unlimited 2% cash rewards on purchases

Welcome Bonus

$200 Cash Rewards

Annual Fee

Regular APR

20.24%, 25.24%, or 29.99% Variable APR

Credit Score

Excellent, Good (700 - 749)

Editor's Take

The Wells Fargo Active Cash offers an unlimited 2% cash rewards rate on purchases and charges no annual fee. This puts it in competition with the best flat-rate cash back cards on the market.

Pros & Cons

Unlimited 2% cash rewards on purchases
$0 annual fee
Cellphone protection benefit

There’s a balance transfer fee
There’s a foreign transaction fee
No travel transfer partners

Card Details

Select “Apply Now” to take advantage of this specific offer and learn more about product features, terms and conditions.
Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months.
Earn unlimited 2% cash rewards on purchases.
0% intro APR for 15 months from account opening on purchases and qualifying balance transfers. 20.24%, 25.24%, or 29.99% Variable APR thereafter; balance transfers made within 120 days qualify for the intro rate and fee of 3% then a BT fee of up to 5%, min: $5.
$0 annual fee.
No categories to track or remember and cash rewards don’t expire as long as your account remains open.
Find tickets to top sports and entertainment events, book travel, make dinner reservations and more with your complimentary 24/7 Visa Signature® Concierge.
Up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible.

Summary of the Wells Fargo Balance Transfer Credit Cards

Credit Card

Rates & Fees

Wells Fargo Reflect® Card

Rates & Fees

Wells Fargo Active Cash® Card

Credit Card

Best For

Credit Score

Annual Fee

Welcome Bonus

Rates & Fees

Wells Fargo Reflect® Card

Best for lengthy intro APR period

Excellent, Good

N/A

Rates & Fees

Wells Fargo Active Cash® Card

Best for flat-rate cash rewards

Excellent, Good

$200 Cash Rewards

Best Wells Fargo Balance Transfer Credit Cards

The Wells Fargo Reflect® Card offers the bank’s lowest introductory APR across any of their credit cards and while marketed as a balance transfer card, there are a few other benefits to consider as well, such as roadside dispatch and cellphone insurance.

Rewards: This card does not earn rewards.

Welcome offer: This card does not offer a welcome bonus.

Annual fee: $0

Balance transfer offer: 0% intro APR for 21 months from account opening on purchases and qualifying balance transfers. A 18.24%, 24.74%, or 29.99% variable APR applies thereafter. Balance transfers made within 120 days qualify for the intro APR and a balance transfer fee of 5%, min $5 applies

Other benefits and drawbacks: The lengthy intro APR can be crucial for paying down large debts, but after this period has passed, it doesn’t make the most sense to keep this card for everyday use. The lack of rewards and slim additional benefits means that this card probably wont net you the best return on your spending. Consider this one a niche tool for specific purposes, not general use.

The Wells Fargo Active Cash® Card is a great mix of a balance transfer card and a 2% cash rewards card. You’ll get a 0% intro APR for 15 months from account opening.

This hybrid approach means that you’ll not only be able to help reduce your interest payments on other credit cards but also be rewarded for your purchases on the card moving forward.

Rewards: Earn 2% cash rewards on purchases.

Welcome offer: Earn $200 cash rewards bonus after spending $500 in purchases in the first 3 months.

Annual fee: $0

Balance transfer offer: 0% intro APR for 15 months from account opening on purchases and qualifying balance transfers, then a 20.24%, 25.24%, or 29.99% variable APR applies. Balance transfers made within 120 days qualify for the intro rate and fee of 3% then a fee of up to 5%, with a minimum of $5 applies

Other benefits and drawbacks: The Active Cash hits a nice middle ground between rewards and intro APR. It has a shorter intro period than the Reflect, but its ongoing rewards makes up for this. Unlike the Reflect, the Active Cash may make a good every day card, since its flat-rate 2% rewards can be useful for someone with varied spending and no desire to track categories. Plus, the card comes with cellphone insurance, which by itself can represent significant value if you need to replace a phone (terms apply).

Methodology

Forbes Advisor evaluated multiple credit cards to find and rank the best Wells Fargo balance transfer cards. For each credit card, we collected information that potential cardholders would use in their decision-making process, including:

Intro APR period
Ongoing APR
Earnings rates
Welcome bonus
Fees
Redemption options
Travel benefits
Additional benefits

Forbes Advisor rates cards both as stand-alone products (the card rating on the review) and compared to others in a specific use case (the card rating you see on a specific “Best” list). The rating for each card changes on different “Best” lists according to how a person looking for a card in that category may value certain card features.

For instance, a card that might be considered mediocre on a list of rewards cards could be the top card on a list of rewards cards with no annual fee. That’s because the card might offer limited features compared to other rewards cards, but after we remove cards that charge an annual fee, it’s the best card that remains.

Forbes Advisor uses data from multiple government agencies to determine how much a typical cardholder might spend. We use the same numbers for cards in the same category to make sure we are comparing cards the same way. The bonus categories for spending included with each card are factored into our determination of how many rewards a cardholder could expect to earn if they use the card as a consumer normally would.

How To Apply for Wells Fargo Balance Transfer Credit Cards

Applying for a Wells Fargo card is as simple as heading to the application page and submitting all of your information. You’ll be asked for your name, social security number, annual income and other basic identifying information. Note that Wells Fargo applications don’t ask for a balance transfer amount until after your approval, so look for that after your application is done.

While this may seem counterintuitive, it’s actually good to know what you’re approved for before trying to do a transfer. That way you don’t risk the balance transfer being rejected if you’re trying to transfer more than the credit line you’re extended.

How Hard Is It To Get A Wells Fargo Balance Transfer Card?

As with all credit cards, your approval odds depend on your credit score. If you have a higher credit score, being approved for the majority of the cards will be a breeze. If you have a fair to good credit score, some cards will have slimmer chances of approval. With the two cards above both listed as requiring good to excellent credit scores needed, there’s not a large difference in approval odds between the two.

How To Do A Balance Transfer With Wells Fargo

Wells Fargo has an online balance transfer function. However, this feature is not available to everyone. According to a company rep: “Promotional balance transfer offers are extended based on eligibility, and not all Wells Fargo credit card accounts are eligible for balance transfers. Wells Fargo looks at a variety of factors like card usage, customer preferences and financial and risk factors when determining eligibility.”

If your account is not eligible for an online balance transfer, you will receive the following message:

However, even in this case, it is still possible to initiate a balance transfer over the phone. To do this, you can call directly at 1-800-400-9423. Alternatively, you can go to an in-person branch and speak to a representative.

If however Wells Fargo does approve you for an online transfer, the process is easy. The first step is to log into your Wells Fargo account, head up to your Accounts tab and look for the Credit Card Service Center.

From this page, you’ll be prompted with a list of your credit cards. On the left hand side you’ll see the option to request a balance transfer.

The next screen will prompt you for the amount you’re looking to transfer along with the account you’d like to transfer from.

What Credit Score Do You Need For A Wells Fargo Balance Transfer Card?

While there is no hard and fast rule outlining a specific credit score, we can get a general idea based on the approval odds. For those cards with fair to good score approval odds, know that the good range is 700-749. For the cards with excellent score approval rating, you’ll want to make sure your score is in the 750-850 range.

These are all best guesses and know that your individual scenario may vary based on a number of factors.

How Long Does It Take Wells Fargo To Do a Balance Transfer

While most balance transfers take only a few days to complete, in rare circumstances it could take longer. The best advice is to continue to make payments on your other credit card until you see the balance transfer take effect. Make sure to check your old cards and see that it’s been paid off before you quit making payments.

Wells Fargo Balance Transfer Fees

Both cards come with their own set of fees, but transferring a balance from one card to another isn’t free.

The Wells Fargo Reflect® Card card comes with a fee of 5%, min: $5. This means that if you transfer over $2,000 you’ll pay a $100 fee to move that balance. Considering the interest rates on credit cards are much higher than 5%, this still offers you the chance to save money on your purchases.

The Wells Fargo Active Cash® Card has a different fee initially to allow you the chance to save a little bit in the beginning. You’ll pay 3% for 120 days from account opening, then up to 5%, min: $5.

Bottom Line

Using a balance transfer card to save money is one way to tackle large debts—as long as you’re smart about how you’re using your cards. You’ll save interest charges from your original cards, but make sure to not miss a payment on your new cards. The 0% introductory interest rates from either of these cards help to get your credit in a better place, but only the Active Cash card offers any rewards for your purchases after the introductory period.

If you need a longer introductory period and more time to pay off your high interest credit card debt, go with the Reflect card, otherwise the Active Cash card gives you more cash rewards after your initial term.

Find the Best Balance Transfer Credit Cards Of 2024

Learn More

Frequently Asked Questions (FAQs)

Which credit bureau does Wells Fargo use?

Wells Fargo will report to all three major credit bureaus of Experian, Equifax and TransUnion. There is no guarantee about which of the three agencies Wells Fargo will look at in order to evaluate your credit worthiness, but you will get a letter after the application letting you know which bureau was used, your score, and if there was any information that was used in the approval or denial.

When does Wells Fargo report to my credit report?

Typically credit card companies will report to the credit bureaus after the statement date. That’s because they need to gather information about your statement balances and charges and if you paid on time. Your Wells Fargo card may not report at the same time as your other credit cards since it’s quite possible that statement dates vary.

Should I use a balance transfer card for purchases?

Keep in mind that you’re using this card in order to pay off your high balances, so if you’re adding purchases to the card during your pay down period, you might incur interest charges on those as well. While it may seem like a good idea to get the Active Cash card because of the cash-back rewards, make sure that you know what your limits are and if you’re going to be able to pay off what you’re charging to the card.

Next Up In Balance Transfer

Information provided on Forbes Advisor is for educational purposes only. Your financial situation is unique and the products and services we review may not be right for your circumstances. We do not offer financial advice, advisory or brokerage services, nor do we recommend or advise individuals or to buy or sell particular stocks or securities. Performance information may have changed since the time of publication. Past performance is not indicative of future results.

Forbes Advisor adheres to strict editorial integrity standards. To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. The opinions expressed are the author’s alone and have not been provided, approved, or otherwise endorsed by our partners.

Jon Nickel-D'Andrea

Credit Cards Expert Writer

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