The Wells Fargo brand name has enormous historical significance and when you have a Wells Fargo credit card you will feel like you own your history. Withdrawing cash or using a credit card may not always be a good idea because it does not get cheaper. Sometimes you may even have to deal with unexpected situations, whereas Wells Fargo credit card cash advance will work.
If you know how to go about it and how much you have to repay to the bank when you take a cash advance, you will be well served. Here are some tips we would like to share with you. Let’s read on.
Availing Cash Advance with Wells Fargo Credit Card
Obtain a Wells Fargo Credit card cash advance is not a very difficult process. You just need to get a PIN from the bank’s customer service. If you don’t have a PIN or want to request a PIN or create a new one, just call the number 1 (800) 642-4720 printed behind the card.
After receiving the PIN number associated with your Wells Fargo card account, you can withdraw cash from any Wells Fargo ATM. You can use this card and PINs at any of the other ATMs around the world that support the Wells Fargo Card for withdrawal.
Is There a Withdrawal Limit?
Yes, there is a daily limit that you can withdraw as a cash advance and that is $500 per day. These transactions will be added to your credit card account statement. You will be charged a transaction fee as well as an annual percentage rate (APR) for these transactions. You can check your disclosure statement as well as the customer agreement.
Your credit card is issued with credit limits and cash limits that you can enjoy. If you keep withdrawing a lot of $500 or less and do not return the amount, you will not be able to withdraw any more cash once you reach the limit on your card.
Wells Fargo Credit Card Cash Advance Fee
The price of the Wells Fargo Credit Card Cash Advance is attached to it and can only be used as a last resort. You are charged for withdrawing cash. It is $10 or 5% of the cash withdrawn, whichever is higher.
In short, If you withdraw $200 or less, you will pay $10 regardless of how often you withdraw. If the amount is more than $200, it will be 5% of that amount and this is a fixed price. In addition, there is APR (Annual Percentage Rate), which you have to pay to the bank. This rate can range from 26.24% to 28.24%. Please check your customer agreement and disclosure statement.
Wells Fargo reserves the right to change terms, rates (APRs) and fees, at its discretion in accordance with the Consumer Credit Card Customer Agreement and Disclosure Statement (“Agreement”) for your account and applicable law.
Is It a Good Idea to Use Wells Fargo Cash Advance?
Yes, it is a good idea but only if you can repay the money as soon as possible. This will help you save more money on interest. These interest will be calculated from the time you withdraw cash.
With regular credit card purchases, you may be eligible for a certain period of time before interest starts. You will not get this discount when withdrawing cash. Therefore, the Wells Fargo credit card cash advance must be used very prudently.
We recommend you to use Wells Fargo cash advance only in case of emergency. Even if you do, make sure you repay your money immediately.
A credit card is a useful tool for consumers. You will also agree that this is true. You can use a credit card when you are getting a huge profit on Amazon or any other source and you are eligible for a cash reduction. Whereas, using a credit card in a movie theater or restaurant is not a good idea.