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The Wells Fargo Reflect℠ Card offers an incredible low intro APR period on both purchases and qualifying balance transfers, which can help to pay off credit card debt faster or avoid interest on new purchases.
Our expert's summary:
Simply put, you'd be hard pressed to beat this card if you're looking to temporarily avoid credit card interest.
0% intro APR for up to 21 months (on both purchases and balance transfers) -- This is where The Wells Fargo Reflect℠ Card is hard to beat. The card starts with a 0% intro APR on purchases and qualifying balance transfers for 18 months. To make it even better, you can get an intro APR extension of up to three months, for a total of 21 months. All you need to do is make on-time minimum payments during the intro and extension periods.
It's worth noting that the intro APR applies to balance transfers made within the first 120 days of opening the account. There is also a balance transfer fee of 3% ($5 minimum) on transfers made within the first 120 days and 5% ($5 minimum) on transfers made after that. Those fee amounts are standard among balance transfer credit cards.
No annual fee -- The Wells Fargo Reflect℠ Card cuts fees in the right places. Case in point, the card has no annual fee.
Cellphone protection -- When you pay your monthly cellphone bill with your eligible Wells Fargo credit card, you get up to $600 of cellphone protection (subject to a $25 deductible). This is one of those underrated credit card perks. You don't need to pay for cellphone insurance out of pocket, since this card includes protection already.
Special offers -- Through My Wells Fargo Deals, you can earn cash back statement credits on shopping, dining, and experiences that you pay for with your eligible Wells Fargo card.
To get the most value out of this card, it is best to make any balance transfers during the intro fee period so that you have a lower balance transfer fee to pay.
With the quality benefits the card offers, it's primarily aimed at consumers who have a credit score of 670 or better. If you have a lower credit score approval could be a roll of the dice, so you may want to consider a card with a shorter 0% intro APR period.
If your priority is a long 0% intro APR, the Wells Fargo Reflect℠ Card clearly outshines the competition. The up to 21-month 0% intro APR on purchases is a smart move if you have big expenses coming up or you need to spread out the cost of purchases over time, yet still avoid interest on them during the intro period (but remember to pay it off before you start accumulating interest).
And if you're looking to transfer a current balance, it's hard to find a better pick. Add it all up and it's easy to see why our experts rate this card a perfect 5 stars, and a top card in its category.
Paying down credit balances is the fastest way to improve your FICO® Score. That's because 30% of your credit score is based on how much of your available credit you're using. Your credit utilization is reported monthly, which means paying off debt could improve your credit score in one month!
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