If that's the case, consider applying for a different balance transfer card. Moreover, you'll save $108 after subtracting the 3% balance transfer fee.īut if you have a higher credit card balance, 15 months might not be enough time to pay it all off. But if you transfer the balance to the Wells Fargo Active Cash, you'll pay it off in under 14 months if you make the same monthly payment. If you pay $75 per month, you'll pay it off in 15 months, losing $138 to interest. For example, let's say you want to transfer a $1,000 balance from a card with a 20% APR. The Wells Fargo Active Cash offers 2% cash rewards on purchases, but balance transfers are considered a different transaction category. Note that your balance transfer won't earn you rewards. The regular balance transfer fee on the card is 5% (with a minimum of $5). During this period, you can also qualify for the intro balance transfer fee of either $5 or 3% of the transferred amount (whichever is greater). You need to make the transfer within 120 days from account opening to qualify for the intro rate. The Wells Fargo Active Cash offers a 0% intro APR for 15 months from account opening on purchases and qualifying balance transfers. Investing +More All Investing Best IRA Accounts Best Roth IRA Accounts Best Investing Apps Best Free Stock Trading Platforms Best Robo-Advisors Index Funds Mutual Funds ETFs Bonds Help for Low Credit Scores +More All Help for Low Credit Scores Best Credit Cards for Bad Credit Best Personal Loans for Bad Credit Best Debt Consolidation Loans for Bad Credit Personal Loans if You Don't Have Credit Best Credit Cards for Building Credit Personal Loans for 580 Credit Score Lower Personal Loans for 670 Credit Score or Lower Best Mortgages for Bad Credit Best Hardship Loans How to Boost Your Credit Score Taxes +More All Taxes Filing For Free Best Tax Software Best Tax Software for Small Businesses Tax Refunds Tax Brackets Tax Tips Taxes By State Tax Payment Plans Personal Finance +More All Personal Finance Best Budgeting Apps Best Expense Tracker Apps Best Money Transfer Apps Best Resale Apps and Sites Buy Now Pay Later (BNPL) Apps Best Debt ReliefĬredit Monitoring +More All Credit Monitoring Best Credit Monitoring Services Best Identity Theft Protection How to Boost Your Credit Score Best Credit Repair Companies Best Mortgages for Average Credit Score.Best Loans to Refinance Credit Card Debt.
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