Reivew of Wells Fargo Prime Rate Visa



The Wells Fargo Prime Rate Visa was last reviewed on: 12th March 2005

Summary - The Wells Fargo Prime Rate Visa credit card has the lowest apr in the credit card market. The apr is simply the prime rate. To make up for the fact that Wells Fargo gives such a good rate, they charge an annual fee of $79.00.

The Wells Fargo Prime Rate Visa uses the average daily balance method (including new purchase) to compute your monthly balance. The grace period is 20 to 25 days. There is no balance transfer fee is you decide to transfer your balance during the first thirty days.

Wells Fargo also makes it easy to manage your accounts online and can set you up so that you can automatically make your credit card payments.

Despite the high annual fee, the Wells Fargo Prime Rate Visa has the lowest apr in the market. You have to work out if you would save on your interest payments by transferring your balance over to this credit card. It will depend on how much is your existing balance and your present apr. Bear in mind that you need a very good credit to get approved. If you are not approved, you will be considered for the Wells Fargo Platinum card.

Positives
  • Lowest apr on the market


Negatives
  • High annual fee


Wells Fargo Prime Rate Visa
Benefits
Free online account management
Overdraft protection
Automatic payment
Cost/Fees/Interest rates
Introductory Rate No introductory apr
Annual Fees $79.00
Purchase APR Prime Rate
Balance Transfer APR Prime Rate
Cash Advance APR Prime Rate plus 15.24%, min 19.99%
Penalty/Default Rate APR Prime Rate plus 23.9%
Min Finance Charge $1.00
Grace Period 20 to 25 days
no grace period for balance transfers
Balance Calculation Method Average Daily Balance (including new purchases)
Balance Transfer Fee 3%, min $5.00, max $50.00, $0 for first 30 days
Convenience checks fee 4%, min $5.00
ATM Cash Advance fee 4% min $5.00
Other Cash Advance fee 4%, min $10.00 for ATM withdrawals from other financial institutions
4%, min $20.00 from other sources
Foreign Currency Conversion fee 3%
Over-the-credit-limit fee $35.00
Late Payment fee $20.00 - up to $100
$29 - $100 up to $1000
$35.00 - $1000 and greater



Go to the low interest credit card directory to look at other low apr credit cards

Check other Wells Fargo credit cards

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