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If you have a large amount of high-interest credit card debt that you’re struggling to pay off, the Wells Fargo Reflect® Card might be a good card for you. It offers an intro APR on purchases and balance transfers for almost two years. This can help you finance a large purchase or pay off a balance transfer over time without paying interest charges.
If you’re looking to earn rewards on the purchases you make, this isn’t the card for you, since it doesn’t offer a rewards program. If you’re planning to use this card for a balance transfer, you should also be aware that there’s a balance transfer fee of 5%, min: $5.
Long intro APR on purchases
The Wells Fargo Reflect® Card offers the longest 0% intro APRs that you can currently find on purchases. You’ll get a 0% intro APR for 21 months from account opening on purchases. Then, a 17.49%, 23.99%, or 29.24% Variable APR applies.
Long intro APR on balance transfers
The Wells Fargo Reflect® Card also offers one of the longest introductory APR periods for balance transfers. You’ll get a 0% intro APR for 21 months from account opening on qualifying balance transfers. Then, a 17.49%, 23.99%, or 29.24% Variable APR applies.
Compared to other cards: The Citi Simplicity® Card and Citi® Diamond Preferred® Card both offer an intro APR of 21 months on balance transfers, but only for 12 months on purchases.
Cellphone protection
With the Wells Fargo Reflect® Card, you’ll get up to $600 in cellphone protection as reimbursement for damage or theft when you use your card to pay your monthly cellphone bill. You’ll be subject to a $25 deductible. Similar cards like the Citi Simplicity® Card and Citi® Diamond Preferred® Card don’t offer cellphone protection as a benefit.
This card also comes with a few other benefits:
High balance transfer fee
If you decide to transfer a balance, you’ll be subject to a balance transfer fee of 5%, min: $5. For example, if you transfer $6,000 to the Wells Fargo Reflect® Card within the first 120 days, the balance transfer fee will be $300. While most credit cards have a balance transfer fee, the Wells Fargo Reflect® Card is on the higher end.
The high balance transfer fee puts the Wells Fargo Reflect® Card at a disadvantage to some cards with smaller fees, despite its long introductory period. For example, on a $6,000 balance transfer, you can potentially save much more with the Citi Simplicity® Card. You can also potentially save more with the Citi Double Cash® Card and the BankAmericard® credit card, even though they have slightly shorter intro periods.
Cost of $6,000 balance transfer
| Balance transfer fee | Cost of balance transfer | Estimated savings* | |
|---|---|---|---|
| Citi Simplicity® Card | There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5) | $180 | $1,180 |
| BankAmericard® credit card | 3% intro fee for 60 days, then 4%. | $180 | $1,164 |
| Citi Double Cash® Card | There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5) | $180 | $1,162 |
| Wells Fargo Reflect® Card | 5%, min: $5 | $300 | $1,060 |
| Citi® Diamond Preferred® Card | Balance transfer fee applies with this offer; 5% of each balance transfer; $5 minimum. | $300 | $1,060 |
*We estimate how much the typical cardholder might save on a $6,000 balance transfer, assuming the card’s intro period, average APR, a $300 monthly payment and subtracting any fees involved, compared to carrying the same balance on another card.
No rewards program or sign-up bonus
If you’re looking to earn rewards with your credit card, the Wells Fargo Reflect® Card isn’t a good choice. It doesn’t have a rewards program, so you won’t have the opportunity to earn cash back, points or miles for the purchases you make. There’s also no sign-up bonus with this card.
If earning rewards is important to you, the Citi Double Cash® Card is a good alternative. It still offers a long 18 month intro APR on purchases and balance transfers, but you can earn up to 2% on every purchase. Plus, there’s an opportunity to earn a sign-up bonus.
Potentially high ongoing APR
While the Wells Fargo Reflect® Card has an excellent intro period on purchases and balance transfers, you should make sure that you can pay your balance in full over the 21 month period. That’s because this card comes with a potentially high ongoing 17.49%, 23.99%, or 29.24% Variable APR on purchases and balance transfers. And there’s no guarantee that you’ll get the low end because it’s based on creditworthiness when you apply for the card.
| Credit Cards | Our Ratings | Intro Balance Transfer APR | Regular Balance Transfer Rate | Balance Transfer Fee | |
|---|---|---|---|---|---|
|
Wells Fargo Reflect® Card*
|
0% intro APR for 21 months from account opening on qualifying balance transfers | 17.49%, 23.99%, or 29.24% Variable APR | 5%, min: $5 | ||
Citi Double Cash® Card*
|
0% intro APR for 18 months on Balance Transfers | 18.49% - 28.49% (Variable) | There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5) | ||
Citi Simplicity® Card*
|
0% intro APR for 21 months on Balance Transfers | 18.49% - 29.24% (Variable) | There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5) | ||
Citi® Diamond Preferred® Card*
|
0% intro APR for 21 months on Balance Transfers | 17.49% - 28.24% (Variable) | Balance transfer fee applies with this offer; 5% of each balance transfer; $5 minimum. |
Plus, it has a solid cash back rewards program that allows you to earn up to 2% on every purchase — 1% when you make a purchase and the other 1% when you pay it off. Cash back can be redeemed as a statement credit, direct deposit or check, or converted to points.
But, unlike the Wells Fargo Reflect® Card, The Citi Double Cash® Card doesn’t come with an intro APR on purchases.
But, the Citi Simplicity® Card comes with a much shorter intro APR on purchases for only 12 months. It also doesn’t come with many additional benefits that the Wells Fargo Reflect® Card has like cellphone protection. Like the Wells Fargo Reflect® Card, there’s no rewards program or sign-up bonus.
But, the Wells Fargo Reflect® Card beats this card because it has a longer purchase APR and better benefits like cellphone protection.
The Wells Fargo Reflect® Card is a great option for those looking to pay off existing credit card debt or finance a large purchase, thanks to its extremely long introductory APR period on balance transfers and purchases. But, if you’re looking for a card to earn rewards with once you’re done paying off your balance, you may want to look elsewhere.
You can find balance transfer cards and 0% APR cards that offer a much better value overall because they include rewards on every purchase.
The information related to the Wells Fargo Reflect® Card, Citi Simplicity® Card, Citi® Diamond Preferred® Card, Citi Double Cash® Card and BankAmericard® credit card has been collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.
The content above is not provided by any issuer. Any opinions expressed are those of LendingTree alone and have not been reviewed, approved, or otherwise endorsed by any issuer. The offers and/or promotions mentioned above may have changed, expired, or are no longer available. Check the issuer's website for more details.
