Wells Fargo preselection
Wells Fargo, like most issuers, offers a way for you to check if you qualify for any preselection offers on its website. You'll need to supply your name, address and the last four digits of your SSN.
Preselection -- also known as preapproval or prequalification -- is a way for you to see your chances of getting approved for a credit card without damaging your credit. You'll undergo a soft credit check, which matches some of your superficial financial information with a credit product. It's important to keep in mind that even if you're preselected, it doesn't guarantee you'll get the card once you formally apply.
A formal application will result in a hard credit check. Hard checks will typically lower your credit score by a few points, but the effect is temporary.
Wells Fargo vs. other issuers
Wells Fargo is lacking in some respects when compared with other issuers, but it also has a number of strong cards that are worth considering.Â
Its flagship rewards card -- the Wells Fargo Active Cash -- is one of the best credit cards you could choose, and the Autograph is certainly worth considering if you spend across its bonus categories. The Wells Fargo Reflect® Card is a great tool if you need to mitigate some existing credit card debt.
However, there's few business credit cards and no dedicated travel cards. Other issuers -- like Chase and Bank of America -- offer a wider variety of card types. Bank of America also has the Preferred Rewards program, which increases the rewards rate of its cards based on your Bank of America bank account and/or Merrill Investment account balance.
Is Wells Fargo the right credit card issuer for you?
Wells Fargo has a somewhat limited card offering, but if you're looking to earn a return on your general spending, the Active Cash is one of the best cards to choose. Similarly, if you need to knock out some existing credit card debt or finance a large, planned purchase, the Wells Fargo Reflect is a good option to consider.
How to choose the right Wells Fargo credit card
Compare your needs, goals and spending habits to the features and rewards of Wells Fargo's card offerings. Then, compare the cards you're interested in with the best travel cards, the best balance transfer cards and the best rewards cards to find the perfect credit card for you.
How many Wells Fargo cards can you have?
There's no defined limit to how many Wells Fargo cards you can have, but the more cards you have, the more you'll need to juggle. So long as you're able to manage your spending and monthly payments, you could have as many cards as you want. Just keep in mind each card you apply for will result in a hard check on your credit.
The number of credit cards you have will also increase your total available credit, which can help keep your credit utilization low. A low credit utilization -- how much of your total credit you're using -- contributes to better credit scores. The age of credit accounts also leads to healthier scores.
How to apply for a Wells Fargo credit card
Follow these steps to apply for a Wells Fargo card:
- Choose the card that meets your financial needs
- Follow the links above and fill out an application with all of the required financial and personal information
- Use the card responsibly and pay your bill on time
FAQs
Most of Wells Fargo personal credit cards don't charge annual fees, with the exception of the Autograph Journey card. One of its business card offerings — the Wells Fargo Business Elite Signature Card* — also has an annual fee.
Wells Fargo doesn't offer credit cards for people with limited or lower credit scores, so you'll need to have good or excellent credit to qualify for them. That means the chances of your approval will come down to your creditworthiness.
To cancel a credit card, you can contact the issuer over the phone or cancel online. However, canceling a credit card could be detrimental to your credit score, as it'll increase your credit utilization and the age of your credit accounts contributes to higher credit scores.
*All information about the Wells Fargo Business Platinum and the the Wells Fargo Business Elite Signature Card has been collected independently by CNET and has not been reviewed by the issuer.
