How To Do a Balance Transfer With Wells Fargo

Transferring high-interest balances is one of the most popular and effective strategies for debt management and consolidation. The best balance transfer cards, which include a few from Wells Fargo, allow you to park your debt for a year or more interest-free during a 0% introductory APR period. 

As long as you pay the minimum balance, you can contribute as much or as little as you can whenever you’re able to pay down your debt during that time without incurring finance charges. However, you'll have to pay a fee to transfer your balance, and when the introductory period ends, the standard APR applies to any remaining balance. 

Follow these steps to do a balance transfer with Wells Fargo.

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Key Takeaways

• Fees differ by card. Reflect charges a flat 5% (minimum $5) balance transfer fee, while Active Cash charges a 3% intro fee for 120 days, then up to 5% (minimum $5).

• You generally can't transfer between two Wells Fargo cards. Balance transfers must move debt from a different issuer, so the balance being moved has to sit on a non-Wells Fargo account.

• Check your credit before applying — good credit helps. Applicants generally have the best approval odds with a FICO score of about 670 or higher, though approval isn't guaranteed.

Summary generated by AI, verified by MoneyLion editors

Step 1: Check Your Credit

First, check in with your credit report to make sure you’re an attractive applicant with a score of at least 670. Work to improve your credit before applying if you come up short. 

Step 2: Choose the Right Card

Determine what you need in a card and consider the typical tradeoff. Longer introductory periods usually come with fewer rewards, while shorter 0% interest terms leave you with a more valuable card when the initial period expires. 

Wells Fargo offers two options, neither of which has an annual fee:

• Wells Fargo Reflect: 0% APR for 21 months — tied for the industry’s longest introductory period — but without meaningful rewards after that.  

• Wells Fargo Active Cash: 0% APR for 12 months plus unlimited 2% cash back on purchases, making it one of the best everyday spending cards available. 

Step 3: Get Pre-Approved

Use the Wells Fargo Card Offers tool to see which cards you’re preapproved for in its lineup. It requires only a soft pull, so it won’t affect your credit score, but keep in mind that pre-approval does not reveal your probable credit limit. 

Step 4: Submit Your Application

A formal application requires a hard pull, which probably will ding your credit, but only modestly and temporarily. Make sure to read the terms and conditions and understand the fees before you apply. 

Step 5: Budget and Plan Your Transfer

Upon approval, you’ll see your credit limit and the amount you’re allowed to transfer. Make sure to consider transfer fees, which are typically between 3% and 5% of the balance with a small-dollar minimum of $5 or $10. Some Wells Fargo cards charge an introductory fee of 3% for transfers initiated within 120 days, then 5% for transfers conducted after that period.

Step 6: Initiate the Transfer

Unlike some card providers, which require direct transfers of existing balances, Wells Fargo issues “Superchecks,” physical paper checks with Wells Fargo routing numbers that you can write out as if they were from your checkbook to virtually anyone for any reason — including to yourself for deposit into your account — up to your credit limit minus the balance transfer fee.

After You Complete the Balance Transfer

With the balance transfer in the books and your debts consolidated and sheltered from interest, take these steps to get the most out of the strategy and your new card. 

• Always pay at least the minimum balance. If you miss a payment or otherwise violate the terms and conditions, the bank can and will revoke the introductory rate and apply the standard APR to the full balance.

• Set up monthly automatic payments for the minimum due, then contribute more manually when you’re able, or divide your balance by the number of interest-free months and set up autopay to withdraw that amount. 

• Make sure you pay off the entire transferred amount or have a plan in place for when the introductory period expires, at which point any remaining balance defaults to the standard APR. 

• Keep track of the remaining months, so the end of the introductory period doesn’t sneak up on you. 

• When your balance reaches zero, add a small recurring charge set to autopay in full each month to keep the account active and its line of credit available.  

FAQ

The answers to these frequently asked questions can help you decide whether a Wells Fargo balance transfer is right for you, which card to choose and how to make it work. 

What are the best Wells Fargo balance transfer cards?

Wells Fargo Reflect has an industry-leading 21-month introductory 0% APR period but no meaningful reward. Active Cash pays 2% unlimited cash back for all purchases but has a shorter 12-month zero-interest window.  

How do I transfer a balance? 

Upon approval, you can contact Wells Fargo to directly transfer existing balances or use the Superchecks that arrive in the mail with your card to write checks to your creditors. Alternatively, you can write a Supercheck to yourself to deposit the credit limit, or a portion of it, into your bank account and use the funds for whatever you like. 

How can a Wells Fargo balance transfer help me manage debt?

A balance transfer card from Wells Fargo or any other provider can enable you to consolidate multiple balances into one while eliminating finance charges for a year or more with an introductory 0% APR. 

Can I get preapproved without harming my credit?  

Yes. The Wells Fargo Card Offers tool lets you enter basic information to see which offers you’re pre-approved for across its entire suite of cards, without a hard pull and no impact on your score. 

What should I do after I complete the transfer?

When you finalize the transfer, schedule monthly auto-payments for at least the minimum due, plan to manage any remaining balance at the end of the introductory period and keep the card in good standing by adding a small recurring charge when your balance reaches zero.

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Key Terms

• Balance transfer — Moving an existing balance from one credit card to another, usually to take advantage of a lower or 0% introductory APR. Most issuers require the transfer to be between cards from different banks.

• Introductory (promotional) APR — A temporary, reduced rate — often 0% — that applies to a transferred balance for a set window, such as 21 months on the Wells Fargo Reflect® Card or 12 months on the Wells Fargo Active Cash® Card.

• Balance transfer fee — A charge for moving debt to a card, generally 3% to 5% of the amount transferred with a small minimum. Reflect charges a flat 5% (minimum $5); Active Cash charges a 3% intro fee for 120 days, then up to 5%.

• Standard (revert) APR — The regular variable interest rate that applies to any balance remaining after the promotional period ends.

• Soft inquiry (soft pull) — A credit check, such as a preapproval check, that doesn't affect your credit score.

• Hard inquiry (hard pull) — A credit check triggered by a formal application that may lower your score slightly and temporarily.

• Cash advance — Borrowing against your card's credit line for cash. Cash advances typically carry a higher APR, an upfront fee and no grace period, so interest starts accruing immediately — which is why a balance transfer check deposited as cash can be costly.

• Credit utilization — The share of your available credit you're using. Transferring a balance to a new card can lower utilization, which may help your score over time.

Sources

• FDIC — Credit Card Checks and Cash Advances

• Consumer Financial Protection Bureau — Ask CFPB: Credit Cards

Summary generated by AI, verified by MoneyLion editors