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TravelHow to do a balance transfer with Wells Fargo

How to do a balance transfer with Wells Fargo


If you’ve just opened a new Wells Fargo credit card, you might want to set up a balance transfer to your new card. After all, it can be a great way to lower your interest costs as you work to pay off your credit card balance.

Here, we’ll explore how to execute a balance transfer with a Wells Fargo card, including how to check the status of your transfer once it has been submitted. We’ll also cover the best Wells Fargo balance transfer credit cards so you have an overview of your options.

How to do a balance transfer with Wells Fargo

Wells Fargo balance transfers are straightforward and can be done in three ways: online, over the phone or by using a balance transfer check.

If you’re going the online route, log in to Wells Fargo’s Credit Card Service Center and select “Request Balance Transfer” under the “Account Management” tab. If you prefer to process your balance transfer over the phone, you can call 1-800-642-4720.

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In either case, you must specify the amount you’d like to transfer and which bank or issuer you’re transferring from. Once you do that, Wells Fargo will contact the card issuer on your behalf and transfer your balance for you. It’s that simple.

If you haven’t yet applied for a balance transfer card, Wells Fargo will allow you to request a balance transfer when you complete your credit card application.

Of course, you can always visit a Wells Fargo branch in person to learn more about balance transfers.

Things to know about Wells Fargo balance transfers

What is a balance transfer?

A balance transfer is a process that allows consumers to transfer an existing credit card balance from a credit card with a higher interest rate to one with a low or 0% introductory annual percentage rate.

Doing so allows you to continue paying off your credit card balance over a specified period without worrying about snowballing interest.

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Balance transfers are typically done between cards from different issuers — meaning if you want to transfer debt to a Wells Fargo credit card, your existing balance has to be on a non-Wells Fargo card.

How long does a Wells Fargo balance transfer take?

Wells Fargo balance transfers may take up to 14 days to complete. If a balance transfer is taking longer, contact Wells Fargo to ensure things are proceeding smoothly.

How do balance transfer fees work?

Most balance transfers include a one-time balance transfer fee, which is a percentage of the transfer amount, typically 3% to 5%.

Balance transfer fees and 0% APR periods can vary from card to card, so you should keep this in mind when choosing a balance transfer credit card. After all, you want to ensure you are saving money in the long run.

How to check the status of a Wells Fargo balance transfer

As mentioned, balance transfers can take up to 14 days. You can check the status of a pending balance transfer by signing into your online account or calling 1-800-956-4442.

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Remember to continue making payments on your old credit card account until the balance transfer has been completed. Any missed payments could negatively impact your credit score.

Best Wells Fargo balance transfer credit cards

Wells Fargo has several cards that can be used for a balance transfer. Here’s a closer look at what’s available.

Wells Fargo Reflect Card

Why we like it: The Wells Fargo Reflect® Card (see rates and fees) is perfect for new cardholders looking to consolidate debt. It offers a 0% introductory APR for 21 months from account opening on qualifying balance transfers (and purchases); 18.24%, 24.74% or 29.99% variable APR thereafter. The card is light on earnings rates and overall benefits but does offer cellphone protection when you pay your monthly bill with this card.

Welcome offer: None

Annual fee: $0

THE POINTS GUY

Read our full review of the Wells Fargo Reflect card for more information.


Apply here: Wells Fargo Reflect


Wells Fargo Active Cash Card

Why we like it: The Wells Fargo Active Cash® Card (see rates and fees) offers 0% introductory APR on qualifying balance transfers and purchases for the first 15 months after account opening. The variable APR will be 20.24%, 25.24% or 29.99% thereafter. Regarding rewards, cardholders receive 2% cash back on all purchases, and the card includes a welcome offer.

With no annual fee and a handful of other perks, this card could be a good option for those who want a rewarding yet simple card in their wallets. It’s also a Visa Signature card, which means it has a handful of perks and benefits often seen on more premium cards.

Welcome offer: Earn a $200 cash rewards bonus when you spend $500 on purchases in the first three months of opening an account.

Annual fee: $0

THE POINTS GUY

For more information, read our full review of the Active Cash.


Apply here: Wells Fargo Active Cash


Wells Fargo Autograph Card

Why we like it: The Wells Fargo Autograph℠ Card (see rates and fees)offers 0% introductory APR on qualifying balance transfers and purchases for the first 12 months after account opening. The variable APR will be 20.24, 25.24% or 29.99% thereafter.

You’ll earn 3 points per dollar in popular spending categories and enjoy straightforward point redemptions and several value-added benefits not common on cards with no annual fee.

Welcome offer: Earn 20,000 bonus points when you spend $1,000 or more on purchases in the first three months of opening an account.

Annual fee: $0

THE POINTS GUY

For more information, read our full review of the Autograph card.


Apply here: Wells Fargo Autograph Card


Bottom line

While your goal should always be to pay off your credit card balances in full each month, balance transfers can be helpful if you are unable to. If you need more time to pay off your debt, they can prevent interest from accruing for several months.

Before signing up, however, factor in the cost of any balance transfer fees and be mindful of the 0% APR period. If you play it smart, you’ll be well on your way to debt-free living and won’t have to rely on balance transfer cards moving forward.

Related: Wells Fargo Rewards program: How to earn, redeem and transfer points

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