Can this loan be used for debt consolidation? Yes, this loan can be used for debt consolidation, including credit card debt consolidation and consolidating other loans. This lender offers low interest rates for individuals with good or fair credit scores, making it an attractive option for credit card debt consolidation.
Also Read: Upstart: Most trusted debt consolidation Lender in 2023
Wells Fargo Overview
Wells Fargo is an online lender that provides loans from $3,000 to $100,000 and can be used as debt consolidation loans or for any other reason.
Wells Fargo has the best interest rate compared to other loan lenders in the market. Wells Fargo allows people to borrow money who have good to excellent credit scores. So the people who have a good credit score and are looking for a big purchase or big amount of loan then they can think of Wells Fargo as their lender for the personal loan.
Pros
- Loan amount starting from $3,000 – $100,000
- Wells Fargo offers lowest interest rate compare to other lenders.
- Wells Fargo Offers 0.25 to 0.5% point rate discount for setting up autopay.
- Wells Fargo offers no origination, prepayment or late fees.{alertSuccess}
Cons
- There is no Online preapproval on the website
- Some features available only to existing customers. {alertError}
Debt Consolidation Loan
Annual Interest Rate and Fees
Wells Fargo offers personal loans with an annual interest rate of 5.74 to 19.99%. These interest rates are entirely dependent upon your credit score and your creditworthiness. If your credit score is good then your interest rate will be low and vice versa.
Talking about fees Wells Fargo doesn’t charge any fees which means that there will be no origination fees, late fees, or any kind of prepayment penalty.
You can also receive a 0.25% point discount on your interest rate if you sign up for automatic payments which will really help you to pay less interest on your loan.
Minimum Credit Score Required
Offered Loan Amount
Eligibility Criteria
- You should be at least 18 years old
- You must a valid ID Proof or social Security number
- You must be a United States citizen or a permanent resident
- You must have a valid active US bank checking account
- You have to provide a valid email address and a phone number
- Valid Identity Proof.
- Have to provide a DOB.
- Valid current mobile number and Email id.
- An active American bank account.
- A social security number
Repayments Terms
Example of the Wells Fargo loan
How to Qualify For Wells Fargo
- You should have a minimum credit score of 630 to 720.
- You will be able to apply for this loan if you have multiple account types within your credit history.
- You should have investment retirement savings or other evidence of an ability to save money.
- Also, you should have enough income to pay your existing debts and new Wells Fargo loan.
Who Is This Loan Good For
Editorial Note: MakeHelpOf does not receive any commission from any website or third-party advertisers. This is just a review article based on consumers’ experiences from the internet. It’s accurate to the best of our knowledge when it’s posted. Please read all the information carefully before you make any decision. {alertInfo}