Does a long intro APR offer make up for limited long-term value?

The Bankrate promise

At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict , this post may contain references to products from our partners. Here's an explanation for .

Snapshot

4.3

Bankrate rating

Rating: 4.3 stars out of 5

Bottom line

Boasting one of the best intro APR offers out there, this card is definitely worth a look if you need to pay off debt. But with no rewards program and a high balance transfer fee, there may be better long-term options available.

On This Page

Wells Fargo Reflect® Card overview

One of the best balance transfer credit cards on the market, the Wells Fargo Reflect Card offers one of the longest intro APR periods available on both purchases and qualifying balance transfers and a decent go-to APR — all without an annual fee.

Yet, with no rewards program or many perks, it may not be your best long-term option. The card’s high balance transfer fee could end up costing you more than you’d save with a card that offers a shorter intro APR period but with a lower balance transfer fee.

Rewards
- None
Expert Appraisal: Typical
See our expert analysis
0% intro APR offer
- 0% intro APR for 21 months from account opening on qualifying balance transfers
- 0% intro APR for 21 months from account opening
- 17.24%, 23.74%, or 28.99% Variable APR
Expert Appraisal: Exceptional
See our expert analysis
Rates and fees
- 3 percent foreign transaction fee
- 5 percent balance transfer fee (minimum $5)
- Up to $40 late payment fee
Expert Appraisal: Typical
See our expert analysis
Other cardholder perks
- Cellphone protection
- 24/7 roadside dispatch assistance
- My Wells Fargo Deals
- Zero liability protection
Expert Appraisal: Unimpressive
See our expert analysis

Wells Fargo Reflect Card pros and cons

Pros

This card carries no annual fee, so you don't have to worry about added costs if you are consolidating debt or saving on interest.
The ongoing APR can potentially be lower than rival cards.
You can enjoy an impressively long APR period for a balance transfer credit card, giving you more time to pay off debt.

Cons

This card offers no sign-up bonus or rewards, which limits its long-term value.
You'll pay a high balance transfer fee compared to other balance transfer cards.
It doesn’t have many perks that can add additional value.

Why you might want the Wells Fargo Reflect Card

The Reflect card offers one of the longest intro APR periods available on qualifying balance transfers and new purchases, so it's terrific if you want some breathing room to pay down debt. On top of that, if you qualify for the card’s low-end APR, you could keep your interest charges low if you still have a balance on your card when the intro period ends.

Intro APR offer: One of the longest offers on the market

The Wells Fargo Reflect card offers a 0 percent intro APR for 21 months from account opening on purchases and qualifying balance transfers made within the first 120 days, with a balance transfer fee of 5 percent (or minimum $5). After your intro APR period ends, you’ll face a 17.24%, 23.74%, or 28.99% Variable APR (based on your creditworthiness).

Not many credit cards offer an intro APR that lasts this long — let alone on both purchases and balance transfers. This is especially uncommon on cards that earn rewards, with most offering a long intro APR offer on either new purchases or balance transfers.

So if you want as much time as possible to pay off new purchases or transferred balances, the Wells Fargo Reflect Card may be one of the best options around.

Ongoing APR: Potentially lower than average

If you qualify for a favorable interest rate, this card can potentially have a lower ongoing APR range compared to rival balance transfer cards. That’s helpful if you aren’t able to pay off your full balance within the time period of the intro APR offer.

Its low-end APR is below the current average credit card interest rate. Though there’s no guarantee you’ll qualify, offering a chance at a lower-than-average APR gives this card an advantage over some competitors.

Why you might want a different card

Though it offers impressively long intro APR periods, the Wells Fargo Reflect card falls short when it comes to long-term value. It may also save you less overall on balance transfers than a card with lower fees and a shorter intro APR period.

Fees: High balance transfer fee can cut into savings

Despite the very long intro APR offer, the Reflect card may not offer the best savings. When choosing which balance transfer card will help you save on interest, you should consider a card’s balance transfer fee.

You’ll pay a 5 percent (minimum $5) balance transfer fee on balances you transfer to the Reflect card, which is tacked onto your total balance. For instance, a $1,000 debt transfer has a $50 balance transfer fee, so you would have to pay off a total of $1,050 before the end of the offer period. A 5 percent transfer fee is not uncommon among balance transfer cards, but it is on the high end. The higher fee could add up to significant interest charges if you’re transferring a large balance.

A card with a lower balance transfer fee might save you more even with a shorter intro APR period. That’s because 5 percent of your balance can easily be more expensive than the interest charges you’d face from carrying a balance for a few extra months.

To see whether a longer intro APR or a lower balance transfer fee is right for you, try out Bankrate’s balance transfer calculator and credit card payoff calculator.

Other fees to keep in mind include a 3 percent foreign transaction fee and a late payment fee of up to $40. Luckily, though, you won’t be charged a penalty APR.

Rewards: Limited long-term value

If you're looking for a balance transfer card that offers rewards on purchases, then this card is not for you. The Wells Fargo Reflect Credit Card's lack of a rewards program is its biggest disadvantage.

The card is a good option to pay down your debt, but a card that earns rewards on everyday purchases could help offset the cost of your balance transfer fee and provide long-term value. Rewards cards with intro APR offers on purchases can also earn rewards on those purchases, which improves the card’s overall value as well.

If you’re sure that you can pay off your transferred balance within the intro APR offer time period, and you want a card that offers rewards, take a look at the Wells Fargo Active Cash® Card. This card offers a high flat cash rewards rate on purchases, a decent welcome offer and a solid (though shorter) intro APR period.

Perks: Few benefits compared to other no-annual-fee cards

Balance transfer cards aren’t known for carrying a rich portfolio of benefits outside basics like FICO credit score access or account alerts — and the Reflect card is no different. While the Wells Fargo Reflect Card does offer cellphone protection and Wells Fargo Deals perks, these are not unique benefits.

However, Wells Fargo cards are among the best for cellphone protection. Phone bills you pay with the Wells Fargo Reflect Card are protected against eligible theft or damage for up to $600 per claim — minus a $25 out-of-pocket deductible. You can file up to two claims per year for up to $1,200 in annual coverage. But this still might not be the most appealing perk.

The card also offers access to My Wells Fargo Deals, but these deals are mostly modest card-linked discounts with small rewards caps, so the value of these perks are fairly limited.

The Reflect card also carries a few standard Visa Traditional benefits, common to most Visa cards. But they aren’t the most helpful benefits. If you want more network features, a few cards with shorter zero-interest periods feature cash back programs and Visa Signature or World Elite Mastercard perks.

Learn more: Wells Fargo Reflect benefits guide

Bankrate staff experience

Bankrate staff have used Wells Fargo cards — including the Reflect — to help pay down expenses and debt. Here’s what they have to say.

Bankrate staff insights

A series of car repairs, house repairs and daycare costs put an unwelcome burden on our expenses. I knew the interest on the hefty sum — nearly $9,000 — would be unpalatable, so I applied for and opened the Wells Fargo Reflect Card, moving nearly the entire balance onto the card. Though I received the card, I see no reason to open and activate it: I can easily set up autopayments through the Wells Fargo app to let me pay off the debt at my leisure.

Steve Dashiell, Bankrate credit cards editor

"We put about $2,000 on a Wells Fargo card that had an intro APR for 24 months. The card’s lack of rewards and other perks wasn’t an issue for us since we use other cash back cards for daily purchases. We literally never even took the card out of the envelope it was mailed in, just made monthly payments that would pay off the balance before the intro APR period ended and kept using our rewards cards for other purchases."

John Puterbaugh, Bankrate senior editorial director

How the Wells Fargo Reflect compares to other balance transfer cards

The Wells Fargo Reflect’s intro APR on both purchases and qualifying balance transfers can easily outperform many other intro APR card offers, but the card’s high balance transfer fee means you may save more with another card.

Wells Fargo Reflect® Card

Bankrate Score

Rating: 4.3 stars out of 5 4.3

See Rates & Fees

Apply now

on Wells Fargo's secure site

Annual fee

$0

Intro offer

N/A

Rewards rate

N/A

Recommended Credit Score

Good to Excellent (670 – 850)

Citi Simplicity® Card

Bankrate Score

Rating: 4.5 stars out of 5 4.5

Annual fee

$0

Intro offer

N/A

Rewards rate

N/A

Recommended Credit Score

Good to Excellent (670 – 850)

BankAmericard® credit card

Bankrate Score

Rating: 4.8 stars out of 5 4.8

Annual fee

$0

Intro offer

N/A

Rewards rate

N/A

Recommended Credit Score

Good to Excellent (670 – 850)

Who is the Wells Fargo Reflect Card right for?

Here’s who could benefit the most from the Wells Fargo Reflect Card:

Bankrate’s Take — Is the Wells Fargo Reflect worth it?

People who need to keep interest at bay for as long as possible will find the Wells Fargo Reflect one of the most worthwhile options out there.

However, though the cellphone protection perk is a practical benefit, the Reflect's long-term value is limited compared to rival cards due to a lack of a rewards program.

Dig deeper: Is the Wells Fargo Reflect Card worth it?

How we rated this card

100+

card ratings

400+

APRs tracked

3000

data points analyzed

40+

perks evaluated

Our proprietary card rating system takes into account a mix of factors when scoring balance transfer and low-interest cards, including each card’s introductory APR, intro APR period length, ongoing APR, balance transfer fee, perks and more.

While balance transfer and general low-interest cards share a similar ratings rubric, we weigh features differently based on how a card is categorized. We categorize cards that carry an especially long intro APR offer on balance transfers as dedicated balance transfer cards, while cards that offer an especially low ongoing APR are considered general low-interest cards.

Based on its features, we assigned this card a primary category of balance transfer and tailored our ratings accordingly.

We analyzed over 100 of the most popular balance transfer and low-interest cards and scored each based on where its key features stood in relation to others in its category.

Here’s a breakdown of what gave this card its score:

*The information about the BankAmericard® credit card and Citi Simplicity® Card has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.

Frequently asked questions

Compare the best balance transfer credit cards

Written by

Garrett Yarbrough

Writer, Credit cards

Read more from Garrett

Bankrate expert Garrett Yarbrough strives to make navigating credit cards and credit building smooth sailing for his readers. After regularly featuring his credit card, credit monitoring and identity theft analysis on NextAdvisor.com, he joined the CreditCards.com and Bankrate teams as a staff writer to develop product reviews and comprehensive credit card guides focused on cash back, credit scores and card offers.

Edited by Senior Editor, Credit Cards

* See the online application for details about terms and conditions for these offers. Every reasonable effort has been made to maintain accurate information. However all credit card information is presented without warranty. After you click on the offer you desire you will be directed to the credit card issuer's web site where you can review the terms and conditions for your selected offer.

Editorial Disclosure: Opinions expressed here are the author's alone, and have not been reviewed or approved by any advertiser. The information, including card rates and fees, is accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information.

Up next

Read more Balance Transfer

Home

Wells Fargo Reflect® Card review | Bankrate