Longest available introductory 0% APR offer

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Americans may worry about significant upcoming expenses – or even overspending for some – as they prepare for another holiday season. To avoid accumulating credit card interest charges on your purchases, the new Wells Fargo ReflectSM The card has a great introductory offer for consumers: up to 21 months of financing with no interest on your purchases or balance transfers.

But is it the best card for your wallet? Select reviews the Wells Fargo Reflect card, analyzing its low introductory APR and other benefits to help you decide if it’s the best card for you.

Wells Fargo Reflect Map Review

Wells Fargo Reflect Carte Map

On the Wells Fargo Secure Site

  • Awards

  • Welcome bonus

  • Annual subscription

  • Intro APR

    0% introductory APR on qualifying purchases and balance transfers for the first 18 months after account opening; extension up to 3 months (totally 21 months) with minimum on-time payments during the introductory and extension periods

  • Regular APR

    Variable APR from 12.99% to 24.99% on purchases and balance transfers

  • Balance transfer fees

    3% launch fee ($ 5 minimum) for 120 days from account opening, then up to 5% ($ 5 minimum)

  • Foreign transaction fees

  • Credit needed

Welcome bonus

Many credit cards come with welcome offers that provide users with cash back or travel rewards after reaching a specific spending threshold. The Wells Fargo Reflect card does not come with a welcome bonus in this form, but the main benefit of the card can be viewed as a bonus.

This card offers cardholders an introductory APR of 0% for 18 months from account opening on qualifying purchases and balance transfers. You can also benefit from an extension of the 0% annual interest rate period up to three months with minimum payments on time during the introductory and extension periods. APR variable from 12.99% to 24.99% thereafter; balance transfers made within 120 days are eligible for the introductory rate and fees.

This offer beats any other introductory 0% APR card offer currently available – you’ll get almost two years of interest-free funding with the Reflect card. If you were to sign up for the card in October 2021, you would have until July 2023 before you start incurring interest charges.

Advantages and advantages

The 0% intro offer is enticing, but the card comes with some extra perks to consider:

  • Cell Phone Protection – Get up to $ 600 in cell phone protection when you pay your monthly cell phone bill with your qualifying Wells Fargo card (subject to a $ 25 deductible).
  • Road expedition
  • Access to My Wells Fargo offers
  • Zero liability on fraudulent purchases

The card doesn’t offer any incentive to spend in the form of cash back or travel rewards, but if flexible financing and protecting your cell phone is a priority for you, the Wells Fargo Reflect Card may be a great choice.

Prices and fees

Card comparison

Select analyzed two other introductory 0% APR credit cards versus the Wells Fargo Reflect card to see how they stack up against each other.

Wells Fargo Reflect Card vs. Citi® Diamond Preferred® Card

The Citi Diamond Preferred Card is a great choice for purchasing flexibility as its introductory 0% APR spans 18 months on purchases and balance transfers, ranging from 13.74% to 23.74% afterwards. Balance transfers must be made within 4 months of opening the account.

The card does not come with any other notable perks besides the introductory 0% APR.

if you choose between the two cards, they are almost identical. However, the Wells Fargo Reflect Card will give you an additional three months of interest-free financing, as long as you pay your monthly payment on time during the introductory and extension periods.

Other than that, your decision might just depend on the preference of the bank you want to do business with.

Wells Fargo Reflect Card vs. Chase Freedom Unlimited® Card

The Chase Freedom Unlimited gives a little more rewards, but a little less uninteresting purchasing power.

This card offers excellent cash back potential. You’ll earn 5% cash back on grocery store purchases (excluding Target® or Walmart® purchases) up to $ 12,000 spent in the first year, 5% cash back on trips purchased through Chase Ultimate Rewards® , 3% on meals (including take-out) and pharmacies and 1.5% on all other purchases.

Plus, the card comes with a simple welcome offer: Earn $ 200 cash back after spending $ 500 on purchases within the first 3 months of opening the account.

And if you need an interest-free period, you’ll get 0% APR for the first 15 months on purchases – 14.99% to 23.74% variable thereafter.

Two factors should influence your choice when deciding between the two cards: the value of the cashback you can earn and the six-month difference between the interest-free periods of the two cards. If you don’t appreciate Cash Back Rewards and need to expand your purchases as much as possible, the Wells Fargo Reflect Card will be the best option. If you only need interest-free financing for 15 months or less, the Chase Freedom Unlimited is the way to go.

Who is the Wells Fargo Reflect card for?

The reflection of Wells FargoSM The card is best for consumers who need the flexibility to pay off their purchases over a long period of time without accumulating interest on the credit card.

For example, if you buy the new iPhone 13, you can shell out around $ 1,200, after taxes and accessories. If you extend this purchase over the entire 21-month APR introductory period, your monthly payment would be around $ 57 per month. And if you pay your cell phone bill with the card, you’ll have a free insurance policy on your phone.

Keep in mind that there are no incentives to spend on the card, such as cash back, points, or miles. So, if you enjoy these rewards on your purchases, you might want to consider a rewards credit card.

At the end of the line


Is 0% APR Good For Your Credit?

While not paying interest on your credit card helps your budget and retirement savings, it doesn’t affect your credit. However, if you have a large credit card balance that uses up a significant portion (over 30%) of your line of credit, it will impact your credit score.

What is a 0% APR introductory period?

A 0% introductory period is an offer from a credit card where, for a specified period of time, the balance of purchases and / or a balance transfer does not generate interest. However, you still need to make the minimum monthly payment.

Editorial note: Any opinions, analysis, criticism or recommendations expressed in this article are the sole responsibility of the editorial staff of Select and have not been reviewed, endorsed or otherwise approved by any third party.

About Leah Albert

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