Credit Card Forum
  1. #1
    Platinum Member
    Join Date
    Mar 2013
    Location
    Nebraska
    Posts
    53

    Default What to do with my Wells Fargo Platinum card?

    I tried to ask this before but somehow the heading and question got messed up and I couldn't even come close to getting the answer wanted.

    The folks over at Wells Fargo talked me into applying for one of their credit cards and when I asked the question before I was wanting to know if I should bother to apply for it or not, I really don't care what people think of them as a bank. I didn't get the answer I wanted and didn't have time to come back and re-ask the question, so I applied for the card. What they sent me was a plain ol' Platinum card, no rewards.

    As bad as people think Capital One is, they have a cash rewards card with 1% back and a 50% annual bonus which is way better than the 0% I'm getting from Wells Fargo. Correct me if I'm wrong, but isn't 1% back better than 0% back?

    So for those of you who know, can I expect it to turn into something better or did I just get another sock drawer card? Just how do you allocate non-rewards cards for use when you have a couple rewards cards? I just can't decide if it's really of any use at all. Should I activate it? Use it? Sock drawer it? Send it back?

    Thanks.
    Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiTweet this Post!
    Reply With Quote Reply With Quote

  2. #2
    Centurion Member
    Join Date
    Jul 2011
    Location
    New York
    Posts
    1,341

    Default

    If there's no AF I'd toss it in with the socks and make a small charge once in a while so they don't cancel it.

    If you have other cards that you've had longer or if this one has an annual fee, I'd close it.

    1.5% cash back isn't bad, though Priceline Visa has 2% cash back on everything.
    Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiTweet this Post!
    Reply With Quote Reply With Quote

  3. #3
    Platinum Member
    Join Date
    Mar 2013
    Location
    Nebraska
    Posts
    53

    Default

    I was just comparing it to what I thought was the worst for cash back. What's even worse, I have a $3,000 CL on one card $2,000 CL on another, then I get approved for this thing with a $500 CL. For being such a big joke, I'm not laughing, I don't understand that part.

    I guess I was just hoping that somehow I'd get a surprise offer for a much better card in the future if I used this one. I just got off the phone with my Aunt, she's had a WF Platinum for 12 years, they did give her a CLI to 7.5K but left her with the plain ol' Platinum card and that's her only card.
    Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiTweet this Post!
    Reply With Quote Reply With Quote

  4. Centurion Member
    Join Date
    Jul 2011
    Location
    New York
    Posts
    1,341

    Default

    You can't get much worse than 0% rewards.

    If you have older cards I don't see a reason to hold on to this one.
    Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiTweet this Post!
    Reply With Quote Reply With Quote

  5. #5
    Platinum Member
    Join Date
    Mar 2013
    Location
    Nebraska
    Posts
    53

    Default

    My bad, it's confirmed. They handed me the app in the bank, I filled it out and handed it back not noticing I filled out the app for the Platinum card. They said I could re-app for either the cash rewards or points rewards. Can't tell if either is really worth it, I don't understand points that well. I noticed you get 3% back on gas, groceries and drug stores for 6 months, then after 6 months, 1% on everything. It's a good deal for 6 months but what do you do after 6 months?

    My thing is, credit cards when used properly, are an easy way to build credit and qualify for better things and lower rates in the future. Rewards are the icing on the cake, if nobody offered rewards, I'd still have a couple cards to build credit but wouldn't have much incentive to use them except for convenience and to keep them active. With rewards, might as well take advantage of the best rewards you can.
    Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiTweet this Post!
    Reply With Quote Reply With Quote

  6. #6
    Platinum Member rhipsher's Avatar
    Join Date
    Feb 2013
    Location
    Houston tx,
    Posts
    64

    Default

    I applied for a Wells Fargo platnum Visa card and recieved it a month ago. They sent me a college cash back card. I'd never heard of one before and thought it was a mistake. I've never been to college in my life. But all the information in the envolope that it came in says "Earn 3% cash back for every dollar spent on groceries,Gas and Drugstore purchases (purchase minus returns/credits), plus 1% for $1 spent in other net purchases, over the next 6 months. Thereafter,earn 1% for every $1 spent in net purchases. I didn't know you had to ask for a card with cash back or rewards. I thought all major credit cards gave you at least something back. Maybe I'm wrong.
    Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiTweet this Post!
    Reply With Quote Reply With Quote

+ Reply to Thread
 
These forum posts are not provided or commissioned by the bank advertiser. Posts have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
Advertiser Disclosure: The credit card offers that appear on this site are from credit card issuers from which CreditCardForum.com receives compensation. This compensation may impact how and where products appear on this site, including the order in which they may appear within listing categories. CreditCardForum.com does not include all credit card offers that might be available to consumers in the marketplace.