Wells Fargo Platinum Credit Card Review

• Extended 0% APR Offer: Like many credit cards in the market, the Wells Fargo Platinum card has an introductory 0% APR offer on both balance transfers and purchases. This card's offer lasts for 18 months. With the introductory APR, you can pay down high-interest credit card debt or finance major purchases and pay no interest for over a year. The 18-month period is above average. Some cards offer much shorter periods, but a few others offer 0% APR for as long as 21 months. 
• Cell Phone Protection: With this card, you get cell phone protection as long as you pay your cell bill with your Wells Fargo Platinum card. While other cards offer this benefit, some charge an annual fee. Getting this perk without paying an annual fee is an extra advantage.

• No Rewards Program: The Wells Fargo Platinum card doesn't have a rewards program. While that's fairly common for a card focused on balance transfers, other cards on the market do have the same introductory APR offer as well as rewards. For example, the Discover it Balance Transfer card has an introductory 0% APR offer for 18 months on balance transfers and cardholders get 5% cash back on spending categories that rotate each quarter. That card also has a potentially lucrative bonus for new cardmembers: Discover matches all of the cash back earned during the first year. Since the Wells Fargo Platinum card offers no rewards and doesn't have a bonus, the Discover it Balance Transfer card may be a smart alternative.
• Foreign Transaction Fees: The Wells Fargo Platinum card is a Visa, which is widely accepted internationally. However, this card charges a foreign transaction fee of 3% of each transaction converted to U.S. dollars. Over time, that fee can add up when you travel. A number of credit cards don’t charge foreign transaction fees. It makes sense to use another card, such as the Capital One Quicksilver card, when traveling abroad.

The Wells Fargo Platinum card is best for those looking for a basic card with no annual fee that gives you an extended interest-free period on balance transfers and purchases. You'll be able to pay down high-interest credit card debt or finance a big purchase without paying interest fees for 18 months. 

However, this card does charge a balance transfer fee of 3% of the amount of each transfer, or $5, whichever is greater during the first 120 days the account is open and 5% or $5 for transfers made thereafter. Those fees can be costly, so it may be worth looking for another card that doesn't charge a fee. For example, the Chase Slate card will waive balance transfer fees on transfers that are completed within 60 days of opening an account. After that, the fee is $5 or 5% of the amount of the transfer, whichever is greater. 

And, because the Wells Fargo Platinum card offers no rewards, you may be better off shopping for another card without fees that has a rewards program in place. 

The Wells Fargo Platinum card offers cell phone protection, which is an outstanding perk for a card with no annual fee.

If you pay your monthly cell bill with this card, you get up to $600 in cell phone protection with a $25 deductible. Eligible phones are covered against damage or theft, but not if you simply lose your phone. 

Other credit cards offer cell phone protection, but many of them charge an annual fee. For example, the Citi Prestige card offers up to $1,500 in coverage for your phone but has an annual fee of $495. Having this perk at no cost to you is a major benefit of the Wells Fargo Platinum card.

The Wells Fargo Platinum card also provides free access to FICO credit scores with Wells Fargo Online®.

• Secondary auto rental collision damage waiver: As long as you decline the car rental company's own insurance and use your card to pay for your reservation, you're covered against theft and collision damage. 
• Roadside dispatch: If you get a flat tire or run out of fuel, you can get roadside assistance by calling 800-847-2869. You have to pay a fee for service, but you don't have to purchase a membership or enroll ahead of time. 
• Travel accident insurance: If you're injured while traveling, you're covered by up to $150,000 in travel accident insurance as long as you paid for your full fare on a common carrier with your card. 
• Travel and emergency assistance: If you're traveling and need help, such as finding legal or medical assistance, you can call a benefits administrator who will connect you with local resources. 

When it comes to customer satisfaction, Wells Fargo's ranking is lower than the national issuer average. According to the J.D. Power Credit Card Customer Satisfaction Study, Wells Fargo was ranked ninth out of 11 issuers in customer satisfaction. The national issuer average ranking was 806, while Wells Fargo's ranking was just 783. Worse, the company has a one-star rating, with 440 customer reviews, with the Better Business Bureau. 

Keep that information in mind when comparing credit cards; you may need to contact customer service if you have questions or issues, and Wells Fargo’s reputation doesn't inspire confidence. 

Wells Fargo's customer service team is available via secure email or at 800-642-4720. 

The Wells Fargo Platinum card offers standard security features like zero liability protection and emergency card replacement. You can also sign up for alerts to receive notifications about suspicious account activity, which is a typical feature of most credit cards. 

When it comes to fees, pay attention to the balance transfer fees you'll incur. With this card, you'll pay an introductory fee of either $5 or 3% of the amount of each balance transfer, whichever is greater, for 120 days from account opening. After that time period expires, the fee is 5% of each balance transfer, with a $5 minimum charge. 

Although the Wells Fargo Platinum card has a relatively long introductory APR offer, it lacks the rewards and bonuses that other balance transfer cards offer. And, it has costly balance transfer and foreign transaction fees, which other cards don’t charge.

This card does have some nice benefits, such as cell phone protection, that are beyond-the-norm for a card with no annual fee. 

But if you're looking for a card with an introductory APR offer that also has a rewards program, you'll have to go with a different credit card than this basic one.