Is the Wells Fargo Business Platinum Credit Card Right for Your Business in 2022?
If you are looking to make larger purchases, such as equipment and office supplies, the Wells Fargo Business Platinum Credit Card can be an excellent way to do so in 2022. This card comes with 0% interest on purchases and balance transfers for 12 months, giving you plenty of time to pay off any high-ticket items without incurring extra interest costs on top of your balance. Plus, if you pay your bill in full every month, you won’t have to worry about paying any interest at all!
What Is the Business Platinum Card From Wells Fargo?
The Wells Fargo Business Platinum Credit Card is a business credit card that offers a 0% APR on purchases and balance transfers for the first 12 months, and then a variable APR of 14.49% – 22.49%. There is no annual fee for this card.
You’ll also earn 5x points on eligible purchases in categories like gas, office supplies, and cellular phone service, and 1x points on all other eligible purchases. Plus, you can get up to $600 in cell phone protection per year.
Benefits and Fees
The Wells Fargo Business Platinum Credit Card comes with a $0 annual fee and offers a suite of business-friendly perks, including 0% APR on purchases and balance transfers for the first 12 months, cash back rewards, and more. There’s also no foreign transaction fee, making it a good choice for businesses that travel frequently.
However, there are some downsides to consider before applying, such as a high interest rate after the intro period ends and less-than-generous rewards compared to other business credit cards. Plus, while the card has no late fees or penalty APR rates if you pay your bill by the due date each month, it does have a hefty 27.24% penalty APR if you miss two payments in any twelve-month period.
What Makes This Different From Other Cards I Can Get?
The Wells Fargo Business Platinum Credit Card offers a 0% intro APR on purchases and balance transfers for the first 12 months (then 13.99%-23.99% Variable APR). You’ll also earn 5x points on eligible purchases in the first 6 months, up to 100,000 points. There’s no annual fee and you can get employee cards at no additional cost.
These are great perks when compared with other business credit cards out there that charge an annual fee or give you fewer rewards points. It is important to note that if your credit score is less than 680, this card may not be the best option for you.
What Else Should I Know About the Business Platinum Card from Wells Fargo?
The business platinum card from Wells Fargo comes with a few great perks, including a 0% APR on purchases and balance transfers for the first 12 months, and no annual fee. However, there are a few things to keep in mind before you apply. First, this card is best for businesses with good or excellent credit.
Second, you’ll need to spend at least $3,000 within the first three months to earn the sign-up bonus of 50,000 points. Third, if you want to transfer a balance onto the card, it will come with an interest rate of 18%. Finally, while this card does come with 0% APR for 12 months on all purchases and balance transfers (with the exception of new purchases), you will be charged an interest rate of 18% if you do not pay your statement balances in full by the due date.
Final Thoughts on the Welles Fargo Business Credit Card
The Wells Fargo Business Platinum Credit Card is a great option for businesses that spend a lot on gas and travel. It offers a 0% APR on purchases and balance transfers for the first 12 months, and it doesn’t have an annual fee.
You’ll also earn 5x points on gas and travel expenses, which can be redeemed for cash back, gift cards, or travel. Plus, you’ll receive additional benefits like purchase protection and roadside assistance.
3 thoughts on “Is the Wells Fargo Business Platinum Credit Card Right for Your Business in 2022?”
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