If you have been paying attention to the latest credit card offerings from Wells Fargo, you are probably familiar with some of their more attractive offers. The company recently introduced a new credit card that offers cash back rewards on purchases made at any one of their twelve branches located in North America. They have also taken advantage of recent economic changes by reducing the number of monthly fees they charge their cardholders. In this article, we will take a look at what all this means and how you can benefit from it.
What sets Wells Fargo apart from other financial institutions is the fact that they offer a second chance for customers to get out of debt by offering them balance transfers. Most people who have had problems managing their finances and paying their bills are not only dealing with high interest rates, but penalties and finance charges. When you transfer your balances to this card, you immediately eliminate those charges and will see your monthly payment drop by as much as 10%. Because balance transfers are subject to the same terms and conditions as traditional cards, you can enjoy even more significant savings. This is one reason why many people are choosing to make use of this opportunity and pay off their debt in this way.
When you sign up for a credit card, you generally agree to a long term agreement that will last your lifetime. In order to keep that card, you must maintain a high standard of living by making all your payments on time and using it within the allotted time period. With a Wells Fargo account, you can enjoy an introductory period that lasts anywhere from two months to two years. During this introductory period, you can pay no interest whatsoever and can carry over unused credit card balance to the next year without incurring any additional interest or fees.
During the introductory period, you can plan your purchases, budget your money and pay off your debts without worrying about incurring interest or fees. You should also make sure to pay off your balance each month. If you don't, you can face the possibility of being overcharged when the interest charges kick in later on. Many people report that they were able to lower their credit card debt by more than half by using this method.
Another great benefit of a Wells Fargo consumer credit card is that you are not required to keep a minimum balance. In other words, you can use the money that you save on interest payments to pay down your balance quickly. The longer you carry a balance, the higher your monthly payments will be. You can avoid this by paying down the balance as quickly as possible.
Using a credit card to finance home improvements, major purchases or vacations is a smart move. You will be building your credit rating, which will allow you to take advantage of other perks and incentives offered by Wells Fargo, like low interest rates on purchases or home equity loans. And while you are at it, why not build up a savings account so that you have some extra cash to invest? A Wells Fargo wise card is an easy way to achieve all of these goals and more.
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