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Cardholders use balance transfers to consolidate and reduce interest on their credit card debt. Many credit cards offer 0% introductory interest rates for up to 21 months, giving borrowers a reasonable period to pay off their debts with no interest charges. Wells Fargo has several options to help cardholders efficiently manage their credit.
Wells Fargo offers three credit cards with 0% balance transfer promotions, offering interest-free periods for anywhere from 12 to 18 months. However, cardholders who haven’t done balance transfers in the past might need a few tips to streamline the process. Here’s everything you need to know about transferring balances to Wells Fargo credit cards
A Wells Fargo balance transfer is a transfer of an external credit card balance to a Wells Fargo credit card account. Wells Fargo credit cards with balance transfer promotions include:
As with most balance transfer credit cards, borrowers have two options when transferring balances to Wells Fargo. They can either transfer balances to a new credit card using the card’s application or transfer balances to their existing Wells Fargo credit card. Wells Fargo’s user-friendly online banking makes it easy to manage all your money in one place.
Borrowers who aren’t already members of Wells Fargo credit cards can transfer a balance to Wells Fargo using the lender’s application. Here’s how it works:
Cardholders with an existing Wells Fargo credit card can transfer balances directly to that account. Here’s how:
Those who want live support processing their balance transfers can call +1 (800) 642-4720.
After Wells Fargo approves a balance transfer, cardholders can access funds from their credit line to pay off other credit card accounts. The process will be complete within a few days or two weeks.
Current members should note that Wells Fargo has no control over accounts with other institutions. If cardholders want to close their other credit cards once the balance transfer is complete, they’re responsible for making resolutions.  
The following includes a few things prospective and current Wells Fargo cardholders should consider before transferring balances to Wells Fargo. 
Balance transfers don’t directly affect a person’s credit score, so the answer to this question depends on the borrower. Balance transfers could improve or hurt credit scores depending on how they fit within the borrower’s overall credit profile. 
Applying for a new credit card typically results in a hard inquiry, which can hurt a credit score by a few points. New cards also lower the average age of accounts, which can also affect credit scores.
On the other hand, a new line of credit increases a user’s total buying power. If someone opens a new card but simply transfers an existing balance to that card rather than adding new debt, that borrower is now using less of their credit. A lower credit utilization rate can have positive effects on credit. A balance transfer can be a strategic step in a plan to reduce overall debt, as long as the borrower takes action to pay down the balance on the new card. 
Wells Fargo may take up to two weeks to process a balance transfer. Borrowers should expect to wait that amount of time before the balance transfer is reflected in their accounts.
Wells Fargo does charge a balance transfer fee. That fee is typically 3% of the total transfer amount or $5, whichever is greater. 
Just about every major lender offers balance transfer credit cards, each with its own perks, promotions and payment terms, and Wells Fargo is no exception. Whether borrowers are looking to transfer balances between existing Wells Fargo cards or to apply for a new card, they should compare credit card options to make sure they pick the one that fits them best. 
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Oct. 5, 2022.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.

Our in-house research team and on-site financial experts work together to create content that’s accurate, impartial, and up to date. We fact-check every single statistic, quote and fact using trusted primary resources to make sure the information we provide is correct. You can learn more about GOBankingRates’ processes and standards in our editorial policy.
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