March 28, 2023

I’m hardwired to not carry bank card balances. If I can’t afford it, I don’t cost it.

Often. Now and again, I come throughout a 0% introductory APR provide that’s just too good to go up. Then I’ll break my rule, front-load purchases I might have revamped a interval of many months, and pay them off steadily with out incurring any curiosity fees. 

In case you’re like me, you’ll wish to try the Wells Fargo Reflect® Card. It’s the most effective new 0% APR bank card in latest reminiscence, with equal advantages for purchases and stability transfers. See if it’s value including to your bank card lineup.

Wells Fargo Reflect Credit Card

What Is the Wells Fargo Replicate Card?

The Wells Fargo Replicate Card is a low-APR bank card with one of many longest 0% APR introductory promotions round: 18 months for positive, and three months longer whenever you make well timed, in-full funds throughout your first yr and three-quarters as a cardholder. That’s a complete of 21 months with no curiosity fees.

Key Options of the Wells Fargo Replicate Card

Past the lengthy 0% APR promotion, Replicate doesn’t have rather a lot going for it. It has no rewards program, no sign-up bonus, few journey or buy advantages, and few different perks to tell apart it. However that’s virtually a part of its enchantment. There’s completely no secret what it’s good for.

0% APR Introductory Promotion

The Wells Fargo Replicate Card fees no curiosity on purchases or stability transfers for at the least 18 months from account opening. Qualifying stability switch requests should be made inside 120 days of account opening. In any other case, variable common APR applies to these transfers.

Following the tip of the 0% APR introductory interval, variable common APR applies to all purchases and stability transfers except you qualify for the 0% APR interval extension.

0% APR Interval Extension

Qualifying for the 0% APR interval extension shouldn’t be too tough. In case you make on-time minimal funds through the preliminary 0% APR promotion interval and the extension interval, you earn a three-month extension of the 0% APR window.

That leads to a complete of 21 consecutive months of purchases and stability transfers at 0% APR.

Wells Fargo Reflect Extension With Banner Final

Following the tip of any extension interval you earn, variable common APR applies (for actual this time). Repay all of your fees or transfers in full earlier than the speed resets if you wish to keep away from curiosity. In case you don’t, you lose out on the promo and should pay all that curiosity you’d saved your self anyway.

Cellphone Safety

Wells Fargo Replicate comes with complimentary cellphone safety whenever you pay your eligible cellphone invoice in full with the cardboard every month.

There’s a profit cap of $600 per declare with a $25 deductible and not more than two paid claims per 12-month interval. However you need to be fairly careless to wish three new telephones in 12 months.

Wells Fargo Offers

As a Replicate cardholder, you possibly can benefit from personalised cash-back rewards from quite a lot of taking part retailers via My Wells Fargo Offers. Affords fluctuate, however you possibly can anticipate finding the equal of 5% to 10% off purchases with fashionable nationwide chains, from eating places like Panera to automotive service companies like SpeeDee Oil Change.

Whereas this isn’t an everyday cash-back rewards program and doesn’t promise a return on each buy, it’s a pleasant strategy to cut back the online price of sure purchases made in your Replicate card.

Roadside Dispatch

Get pleasure from entry to a 24/7 roadside dispatch community that gives on-demand towing, lockout, and different roadside help in coated geographies. You will have to pay out of pocket for some or all companies, and their use isn’t limitless, however they’re good to have in a pinch.

Credit score Shut-Up

Enroll in Wells Fargo’s free Credit score Shut-Up program to see your FICO rating, get entry to your Experian credit score report, arrange personalised credit score alerts, and get personalized ideas to assist enhance your rating. Enrollment doesn’t have an effect on your credit score rating, so there’s no motive to not take this step.

Wells Fargo Reflect Credit Closeup

Essential Charges

Wells Fargo Replicate fees no annual price. The international transaction price is 3% of the full transaction quantity for any worldwide transaction transformed to U.S. {dollars}.

Through the 120-day introductory stability switch window, the stability switch price is 3% of the switch quantity (minimal $5). After that, the price rises to five% of the switch quantity (minimal $5).

Credit score Required

This card requires a superb to glorious credit score rating. Vital blemishes in your credit score historical past that decrease your credit score rating may adversely have an effect on your software.

Wells Fargo Reflect Card Credit Score

Benefits of the Wells Fargo Replicate Card

The Wells Fargo Replicate Card is likely one of the higher 0% APR bank cards available on the market. Right here’s the place it shines.

  • Lengthy 0% APR Introductory Promotion. Wells Fargo Replicate has a really lengthy 0% rate of interest introductory promotion. It stretches for 18 months on each purchases and stability transfers, though it’s essential to make stability transfers inside 120 days of account opening to qualify.
  • Alternative to Lengthen the 0% Intro APR Promotion for Three Extra Months. Replicate’s three-month 0% APR extension interval pushes it into category-leading territory. Make on-time minimal funds through the preliminary and prolonged promotional intervals and pay no curiosity on eligible giant purchases or stability transfers for 21 months (billing cycles) from account opening.
  • No Annual Charge. Wells Fargo Replicate fees no annual price. That’s simply as properly as a result of it has no common rewards program to ship a dependable return on spending.
  • As much as $600 in Cellphone Safety Per Declare. Replicate provides complimentary cellphone safety protection whenever you pay your cellphone invoice in full along with your card. It’s value as much as $600 per declare and $1,200 per rolling 12-month interval, although there’s a $25 deductible per declare.
  • Customized Procuring Offers By way of My Wells Fargo Offers. My Wells Fargo Offers isn’t a correct cash-back rewards program, but it surely does ship a pleasant return on eligible purchases with well-known nationwide retailers.

Disadvantages of the Wells Fargo Replicate Card

Wells Fargo Replicate has some necessary downsides, like no rewards program or sign-up bonus for brand spanking new account holders.

  • No Common Rewards Program. Wells Fargo Replicate doesn’t have an everyday rewards program. That’s a disadvantage compared to cash-back bank cards with related 0% APR introductory provides, just like the Citi Customized Money Card.
  • No Signal-Up Bonus. Wells Fargo Replicate doesn’t have a sign-up bonus for brand spanking new account holders both. It’s important to make do with the admittedly beneficiant 0% APR introductory promotion.
  • Comparatively Excessive Stability Switch Charge. After a 120-day interval throughout which the stability switch price is the better of three% or $5, the price rises to account for as a lot as 5% of the switch quantity (minimal $5). That’s a bit expensive for a card that rightly touts its lengthy 0% APR introductory promotion.
  • 3% Overseas Transaction Charge. Wells Fargo Replicate levies a 3% surcharge on international transactions. In case you routinely journey exterior the U.S. or patronize abroad retailers that cost patrons within the service provider’s native foreign money, use one other card.

How the Wells Fargo Replicate Card Stacks Up

The Wells Fargo Replicate Card is an above-average low-APR bank card, but it surely doesn’t have the area to itself. Right here’s the way it stacks as much as the Chase Slate Edge Card, a well-liked competitor with related advantages.

Wells Fargo Replicate Chase Slate Edge
0% APR Interval As much as 21 months whole 18 months
Applies To Purchases and stability transfers Purchases and stability transfers
Annual Charge $0 $0
Credit score Required Good to glorious Good to glorious
Rewards None None

Different Alternate options to Think about

Earlier than you apply for the Replicate Card — or Chase Slate Edge, for that matter — take into account these alternate options. Every has at the least one power not shared by Replicate.

Last Phrase

In case you’re critically contemplating making use of for the Wells Fargo Reflect® Card, you’re probably after a really lengthy 0% intro APR provide on one in every of two issues: purchases or stability transfers.

This card doesn’t have many secrets and techniques, in spite of everything. However that’s OK — it’s among the many finest bank cards for doing what it does, which is decreasing the price of bank card financing. In case you’re looking for a beneficiant rewards program or luxe journey perks, look elsewhere. In any other case, you’re in the precise place.