Wells Fargo Reflect® Card
- Best for: Paying off a large purchase or a balance moved from another card over more than a year
- What Sets It Apart: 0% for 21 months on purchases and on balance transfers requested within 120 days of opening
- Cost: $0 annual fee; 5% balance transfer fee ($5 minimum); 17.74%, 24.24%, or 28.49% variable interest rate after the intro period; 3% foreign transaction fee
- Features: Cell phone protection up to $600 a claim ($25 deductible); no penalty rate; free FICO Score updates through Wells Fargo Online; merchant deals paid as account credits
- Pros: Same 0% period on purchases and transfers; 120 days to move a balance; no annual fee
- Cons: No rewards; 5% transfer fee; no transfers from other Wells Fargo accounts; 3% foreign transaction fee
Get the Wells Fargo Reflect® Card if you need more than a year to pay off a large purchase or a balance moved from another card. Its interest rate on both is 0% for 21 months, and each transfer costs a 5% fee. Skip it if you pay in full every month, because it has no rewards program.
The Reflect is a no-annual-fee credit card for carrying debt at 0% while you pay it down. It suits someone with a fixed amount to repay and a plan to clear the balance before the 0% rate ends.
Key Features
- Interest at 0% for 21 months on purchases and on balance transfers requested within 120 days of opening
- 5% balance transfer fee, $5 minimum
- 17.74%, 24.24%, or 28.49% variable interest rate after the intro period, depending on your credit
- $0 annual fee
- Cell phone protection against damage or theft, up to $600 a claim less a $25 deductible, when you pay your monthly phone bill with the card
Pros
- The same 21 months at 0% on new purchases and transferred balances
- 120 days from opening to move a balance at 0%
- No higher penalty rate after a late payment, only a fee of up to $40
- Up to two phone claims a year, $1,200 in total
Cons
- No rewards program
- 5% transfer fee, $250 on a $5,000 balance
- The 21 months start at account opening, not at each transfer
- No transfers from any other Wells Fargo account
- 3% fee on transactions in a foreign currency
Anyone who can repay within a year, or who pays in full every month, does better with the Wells Fargo Active Cash, which adds 2% cash rewards and still gives 0% for 12 months on purchases and transfers. Borrowers who need more than a year should get the Reflect and request any transfer with the application, since its 0% period starts the day the account opens.
Learn more about the Wells Fargo Reflect® Card or see how it compares to the best balance transfer credit cards.
Editorial & Advertiser Disclosure: The editorial content on this page is not provided, commissioned, reviewed, approved, or otherwise endorsed by any advertiser. Opinions expressed here are ours alone, not those of any advertiser. The offers that appear on this site are from companies that compensate us. That compensation may influence which products we cover and where and how they appear on a page – including the order in which they appear – but it does not influence our evaluations, ratings, or opinions. We do not include every company or offer available in the marketplace.
Related:
