The extremely disturbing aspect of this credit card offer from Wells Fargo is that there is a feature build into the card that allows consumers to skip the swiping process and avoid signing all together for their purchases. Yes you read this correctly, you do not have to sign for purchases because of the paywave technology with www.wellsfargo.com/mynewcard credit cards.

Aside from this, the www.wellsfargo.com/mynewcard preapproved offer looks pretty good. It has a 0% term for 12 months for both balance transfers and purchases and a low APR thereafter. That makes up a pretty good offer, but the potential for identity theft and unauthorized charges is what makes this preapproval one that you should probably think twice about. The funny thing about it is that on the preapproved or "pre-screened" invitation it even says words alluding to the fact that you will not have to sign for several purchases because you just "wave" the card in front of the register. Our translation - Lose this card and anyone can buy whatever they want. Then you get to call Wells Fargo. Plead your case. Have them send some paper work for you to fill out from their loss prevention and fraud department....not worth it.

Can I do better than www.wellsfargo.com/mynewcard offers?

Of course you can. 0% terms for balance transfers and purchases are pretty much industry-standard these days. Plus with recent rate cuts, you are able to find extremely low interest rates from several other issuers, assuming that you have good credit, which you probably do if you have received a www.wellsfargo.com/mynewcard offer. The only difference that you may find is that with other credit cards, you will not have to skip a vital step which protects your hard earned money and potentially limits your time on the phone with Wells Fargo customer service reps.

Steps To Take:

Weigh your options. View other 0% APR credit cards for those with good credit and apply online. People who are pre-screened for Wells Fargo Platinum Visa cards with similar interest rate structures should also be looking at low rate cards like the ones listed below from other issuers. All of the following offers have 0% terms, low rates and no annual fees.