This Card Helped My Sister Breathe Again With 0% Intro APR for 21 Months

A couple of years ago, my sister-in-law found herself in a tight spot. Too many friends had destination weddings that year, and she felt obligated to attend every single one. Flights, hotels, bridesmaid dresses -- it all went on her credit cards. By the end of that year, she was staring at nearly $8,000 in credit card debt.

She blamed it on bad timing. I blamed it on not having a strong savings cushion. Either way, the result was treading water every month, barely making a dent in her balance. With interest rates north of 20%, credit card debt like that can feel hopeless.

That's when we talked about a different plan of attack: using a balance transfer card.

Luckily, the Wells Fargo Reflect® Card (rates and fees) had launched in 2021 -- and its intro APR offer was exactly the lifeline she needed.

Breathing room for nearly two years

I'm a big believer in balance transfer cards -- as long as there's a clear payoff plan within the 0% intro APR window. The longer the 0% intro APR period, the more breathing room one has.

The Wells Fargo Reflect® Card offers 0% intro APR 21 months from account opening on qualifying balance transfers and 21 months from account opening on purchases. (Then an ongoing 17.99%, 24.49%, or 28.74% Variable APR applies.) That's one of the longest offers available in the market today.

There is a balance transfer fee of 5%, min: $5, but most people will find they can save more than enough in interest to make up for this fee and still come out way ahead. Just do the math to make sure that's the case for you.

For my sister, using a balance transfer card meant every single payment went directly to her debt principal instead of disappearing into interest. It allowed her to pay off her $8,000 balance faster, and much cheaper.

She saved $1,400+ in interest

Here's what paying off her $8,000 balance looked like in numbers.

If she had stayed on her old card charging 21% interest and paid $400 a month, it would have taken about 25 months to become debt-free. Along the way, she would have shelled out roughly $1,900 in interest.

By moving the balance to the Wells Fargo Reflect® Card, she paid a one-time $400 transfer fee (5% of $8,000). With 0% intro APR for 21 months from account opening on qualifying balance transfers (and 17.99%, 24.49%, or 28.74% Variable APR after), every dollar of her $400 monthly payment went straight to principal.

All in all this balance transfer saved over $1,400 in interest charges, and cleared the balance out four months sooner.

I witnessed this first hand. And to be honest, the best part wasn't just the money saved -- it was the psychological upside. Watching my sister-in-law go from feeling hopeless to feeling fully in control was huge.

Once the interest stopped piling on, she finally believed she could get out of debt. That shift in mindset kept her motivated to stick with the plan month after month.

Who should consider a balance transfer card

If you're carrying balances and want time to pay them down, a card like the Wells Fargo Reflect® Card is worth a serious look.

The intro APR offer applies to new purchases as well, so it's also handy for financing large purchases with no interest.

Just remember, a balance transfer card isn't a magic wand. You still need a plan to pay it off before the intro APR window ends. For my sister, that plan was sticking to $400 a month (or more if she had any spare savings).

Debt doesn't disappear overnight. But with the right tools you can finally catch your breath and work towards a financial reset.

It worked for my sister-in-law. Now she's building wealth and in a much better place financially.

Check out today's best 0% intro APR credit cards and start your own payoff plan interest-free.