Wells Fargo Platinum Credit Card: Is It Really Worth It?

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3 posts
JA.
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Wells Fargo Platinum Credit Card: Is It Really Worth It?

Postby JA. » Mon Jan 09, 2012 4:10 am

Hey guys, I am new and after a couple pages of lurking (36) to be exact i decided to join up :)

So anyways I have some questions, But to start off I am new to credit and my first credit card, the Wells Fargo Platinum Visa was a impulse app. While i was switching banks to Wells Fargo I opened a checking/savings account with them and the banker said i was instantly approved for the CC up to a 500 cl. Bam! my first CC haha.

So now onto the questions-

  • Does anyone know if Wells Fargo Platinum credit card reports to all 3 credit bureaus?
  • Also a little off track but I have also been browsing the ficoforums and have noticed a lot of members having the Amex zync and or applying for it because it was the easiest charge card to get accepted by and I was wondering if i should go ahead and apply for it as well with my limited credit history of around 5-6 months. I read the review for the card on here and to be honest it doesnt sound very appealing especially for an annual fee. So I was wondering if its a good card to get to get your foot in the door for Amex and eventually upgrade cards if that's possible. If I can i would most likely get the free eco pack and keep it at an annual $25 and earn my little 1X-2X express points :rolleyes:
  • In addition for a charge card, say you are capped at $500, (even though there's no pre-set limit you get what i mean right?) and i charge say $350 on it but i pay $300 early before the statement ends and have a closing balance of $50 would it work the same as good credit utilization like a credit card? Or do you even get statements with charge cards in the first place? haha.
Well that's all the questions I have at the top of my head.

Thanks!
Amex Zync
Chase Marriot Premier
Discover IT
WF Platinum Cash Back


DavidNY
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Postby DavidNY » Mon Jan 09, 2012 1:01 pm

1. They probably do report to all 2 bureaus, you can check annualcreditreport.com after a billing cycle to know for sure.
2. If you really want an Amex do the soft check where you can find out what you qualify for, in case you can do better than a Zync. If you were to get an Amex I'd recommend the Fidelity 2% rewards card. Visa and MC are more widely accepted than Amex.
3. You do get monthly statements for charge cards just like credit cards, its just that the money is payable in full without the option to carry the balance to the next statement cycle.

JA.
Gold Member
Gold Member
 
Posts: 49
Joined: Mon Jan 09, 2012 3:47 am
Location: Denver, CO

Postby JA. » Mon Jan 09, 2012 3:21 pm

Oh sorry i forgot to mention that I'm also 20. And as for charge cards do they tell you how much you can charge on the card so i can keep my 30% utilization?
Amex Zync
Chase Marriot Premier
Discover IT
WF Platinum Cash Back



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