Understanding Special Rate Financing - Video

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[Voice over]: Every now and then, I’ve used special financing to cover a big purchase.

[On-screen text]: Understanding Special Rate Financing.

[Voice over]: Taking advantage of a credit card that offered special rate financing made sense.

[On-screen] Applied Approved Purchased

[Voice over]: I’ve applied, been approved, and completed my purchase on the same day, plus the payment options were surprisingly reasonable.

[Voice over]: Not only did I get the credit that I needed for my purchase, but I could keep my borrowing costs low by consistently paying on time or paying off the balance early.

[Voice over]: By applying, you are agreeing to repay a portion of what was borrowed every month with interest, until it’s paid off.

[Voice over]: Paying more than the minimum every month can help you pay off the balance faster. And you can pay the remaining balance in full, anytime you’d like.

[Voice over]: Signing up for automatic payments through Wells Fargo Online can help you avoid missing a payment or paying late. You can always pay by phone, online, or through the mail.

[On Screen] $6,000 balance Special Rate Financing Available credit: $3,000

[Voice over]: My credit card came in the mail about a week after being approved and making the purchase. When my monthly billing statement arrived, it reflected what I had borrowed and the available credit left on my credit line.

[Voice over]: What happens if you don’t make at least your minimum monthly payment on time?

[Voice over]: You’ll be charged with a late fee — which could include interest if not paid by the next payment due date. So, make sure you pay both the minimum amount due and any fees that are due on the account.

[Voice over]: Use your monthly billing statements to assess progress and avoid surprises.

[Voice over]: You can continue to use your available credit to make new purchases with your card. Be sure to ask about current financing promotions available. Purchases made with your card will be at the regular rate unless special financing terms are available.

[Voice over]: When making financial decisions, it’s always good to be informed. Thank you for making time to learn how special rate financing works.

[On-screen text]: Wellsfargo.com/cardholders © 2021 Wells Fargo Bank N.A. All rights reserved.

[On-screen text]:

Special Rate. This special terms plan is also referred to as “Reduced Rate” plans. Key attributes of this plan include the following:

The APR shown on the Invoice will be used to calculate interest on the purchase balance from the date of the original transaction and will apply until the purchase balance is paid in full. Special Rate plans begin as low as 0.00% APR.

Payment in Full/Equal Payments. The payment will be the amount required to pay the initial purchase balance shown on the Cardholder’s monthly billing statement in full during the special terms period.

Custom Payments. The payment is a set dollar amount or a fraction (e.g., 1/30, 1/40, etc.) or percent (e.g., 2.00%, 3.00%, etc.) of the highest balance for the particular credit promotion. The payment will not change unless the balance increases above the previous high balance.