The Wells Fargo Reflect℠ Card is worth it for those looking for a long low intro APR offer on purchases and balance transfers.
This card is an ideal choice if you plan to consolidate debt or need to make a large purchase. But while this card comes with one of the best 0% intro APR offers on the market today, it doesn’t come with any other rewards — so only consumers who can take advantage of its low-interest offer will find this card valuable.
For consumers looking to get more from their credit card than just a low-interest APR offer, consider the Wells Fargo Active Cash℠ Card, which has a similar intro offer and allows you to earn unlimited 2% cash rewards on purchases with no rewards category limitations or quarterly activations.
Who is the Wells Fargo Reflect℠ Card best for?
The Wells Fargo Reflect℠ Card is best for consumers who need to consolidate their debt onto a single credit card or those looking to make a major purchase. This card is intended to help cardholders pay off their purchases in their own time, without penalty.
This card will not be the optimal choice for consumers who want to earn rewards on their spending. For rewards paired with a long intro APR offer, consider other balance transfer credit cards, like the Wells Fargo Active Cash℠ Card or Citi® Double Cash Card – 18-month BT offer.
Up to 21-month intro APR on balance transfers
Consumers who want access to a lengthy 0% intro APR offer for balance transfers should consider the Wells Fargo Reflect℠ Card.
Cardholders will enjoy a 0% intro APR up to 21 months from account opening on qualifying balance transfers (then 13.24%-25.24% Variable APR applies).
The card’s introductory offer has a unique spin: Cardholders will receive an initial introductory offer of 18 months but can bump that period up to 21 months with timely payments (more on that below).
Just keep in mind that a balance transfer fee applies: An introductory fee of either 3% for 120 days from account opening, then up to 5%; min: $5. Note that the variable APR will apply after the introductory offer ends, so you’ll need a plan to pay down most — if not all — of your debt during the introductory period.
How does the 3-month APR extension work?
If you continuously make at least your minimum payment on time each month during the intro offer period and through the three-month extension period, you’ll earn up to a three-month extension for a total of 21 months of 0% interest on both balance transfers and purchases. In this way, consumers can be rewarded for establishing positive spending habits and paying on time.
If you do decide to transfer high-interest balances to the Card, the interest savings may be substantial — even after accounting for the balance transfer fee. The chart below shows how much you’ll pay in fees to transfer various amounts, as well as the potential interest savings you could achieve.
Variable APRs
Unless an introductory or promotional APR is in effect, we will add a “Margin” to the U.S. Prime Rate to determine your standard variable APR. For each billing period, we will use the U.S. Prime Rate, or the average of the U.S. Prime Rates if there is more than one, published in the Money Rates column of The Wall Street Journal three business days prior to your billing statement closing date. If the U.S. Prime Rate is not published or is otherwise unavailable, whether temporarily or permanently, we will select a substitute index that we believe, in our sole discretion, to be like the U.S. Prime Rate. The U.S. Prime Rate is 3.50 percentage points as of 04/13/2022.
The “Margin” for purchases and balance transfers will be 9.74 to 21.74 percentage points, based on your creditworthiness.
The “Margin” for cash advances and overdraft protection advances will be 22.74 percentage points.
Balance
Figures are determined by assuming equal payments over the card’s introductory period to pay off the full balance, then comparing the amount of interest you would owe over that period by making the same monthly payment on a card with an 18% APR.
Up to 21-month intro APR on purchases
The Wells Fargo Reflect℠ Card also extends a 0% intro APR up to 21 months from account opening (then an APR of 13.24%-25.24% Variable APR applies).
As with the balance transfer offer, the purchase APR starts at 18 months but can be increased to 21 months with timely payments. This benefit may be immensely useful if you have a large purchase you need to pay down over time or if you could simply use a break from credit card interest payments.
Just keep in mind that, as the balance transfer offer, interest will begin accruing on your purchases after the introductory period is up. You should also note that if you’ve transferred a balance with the Wells Fargo Reflect℠ Card, using it for new purchases will make it harder to pay down your transferred balance.
With that in mind, we only suggest using the Wells Fargo Reflect℠ Card for purchases you can pay off.
Within the introductory period.
Other benefits.
The Wells Fargo Reflect℠ Card focuses more on its low-interest intro offer than on additional perks and benefits — however, there are still a few notable ones available for cardholders:
No annual fee
Cellphone protection
Roadside dispatch
Zero liability protection
Wells Fargo Reflect Card drawbacks.
No rewards: While the Wells Fargo Reflect℠ Card has a fantastic low-interest offer, it doesn’t include any rewards. If you want a card with good cash-back rewards over a lengthy introductory APR, check out the Wells Fargo Active Cash Card instead.
Charges foreign transaction fees: The Wells Fargo Reflect℠ Card is not an ideal credit card for international travel, as it charges a 3% foreign transaction fee. For frequent international travelers, we suggest using a travel credit card that doesn’t charge foreign transaction fees to save yourself from these fees during your trip.
What credit score do you need for a Wells Fargo Reflect℠ Card?
Like many other top balance transfer credit cards, you’ll need Excellent/Good credit to qualify for the Wells Fargo Reflect℠ Card — this typically means having a FICO Score of at least 660.
What is the credit limit for the Wells Fargo Reflect℠ Card?
Wells Fargo doesn’t list specific credit limits for the Wells Fargo Reflect℠ Card. However, your credit limit will be assigned based on your income, credit score, and other debts.
If you’re a current Wells Fargo credit card customer and want to apply for the Wells Fargo Reflect℠ Card, you should also know that Wells Fargo has the right to reallocate your credit limits between your existing card (s) and your new account.
Who is eligible for the introductory offer? Before you apply, you should know that Wells Fargo sets limits on who’s eligible for their introductory offers. Specifically, the bank says that “you may not be eligible for introductory annual percentage rates, fees and/or bonus rewards offers if you opened a Wells Fargo Credit Card within the last 15 months from the date of this application and you received introductory APR(s), fees and/or bonus rewards offers — even if that account is closed and has a $0 balance.”
You also may not be eligible if you’ve opened another Wells Fargo credit card in the last six months.
How does the Wells Fargo Reflect℠ Card compare to other cards?
While the Wells Fargo Reflect℠ Card has one of the best introductory rates out there, other cards in this niche still have much to offer, including other Wells Fargo credit cards. Here are a few additional credit cards to consider:
Wells Fargo Reflect℠ Card vs. Wells Fargo Active Cash℠ Card
The Wells Fargo Active Cash℠ Card lets new cardholders benefit from a 0% intro APR for 15 months from account opening on purchases and 0% intro APR for 15 months from account opening on qualifying balance transfers. After that, you will have a 15.24%-25.24% Variable APR. This is a shorter timeline than the Wells Fargo Reflect℠ Card — however, you do get the chance to earn rewards, which could be worth it if you’re searching for a card you can use in the long term.
New cardholders can earn a $200 cash rewards bonus after spending $1,000 in purchases in the first three months. Further, cardmembers Earn unlimited 2% cash rewards on purchases, and there’s a $0 annual fee.
The Citi® Diamond Preferred® Card comes with an intro APR of 0% for 21 months on Balance Transfers and 0% for 12 months on Purchases. After that, the APR will be 13.99% – 23.99% (Variable). There’s a $0 annual fee, and you’ll get free access to your FICO Score, as well as Citi Entertainment® benefits.
For the most part, this offer is quite comparable to the Card. If anything, though, the Wells Fargo Reflect℠ Card is a better option since it comes with some travel benefits and cellphone protection.
Wells Fargo Reflect℠ Card vs. Citi® Double Cash Card – 18-month B.T. offer
Citi® Double Cash Card – 18-month B.T. offer
However, you should note that the introductory rate only applies to balance transfers and not to purchases. That makes this card an inferior option if you’re hoping to get a 0% APR on items you buy for a limited period.
If you’re looking for a way to save money on interest and you’re not majorly concerned about earning rewards, the Wells Fargo Reflect℠ Card is a solid option. If you have high-interest credit card debt, you want to consolidate and pay it down over time.