Wells Fargo Reflect Card: A highly specialized balance transfer card
Wells Fargo Reflect Card: A highly specialized balance transfer card

Partner offers are presented in this article.

The Wells Fargo Reflect℠ Card offers an extra-long introductory APR, making it a great choice if you’re looking to finance a large purchase or transfer the balance from a card with a high APR. But to take full advantage of the power of this card, you need to make all your minimum payments on time.

While the promotional offer is 18 months from account opening for 0% introductory APR on qualifying purchases and balance transfers, you can get up to a three-month extension if you qualify by making minimum payments on time during the introductory and extension periods, for a whopping total of up to 21 months from account opening (13.24% to 25.24% variable APR per the following). The Wells Fargo Reflect Card is quite specialized: If you are looking cash back or travel rewards — or your the credit is not great – you will have to look elsewhere.

With no annual fee, with responsible use, you can continue to build your credit even after the promotional APR period ends. Read on to learn more about the details surrounding the intro APR and balance transfers, as well as some recommendations for additional cards and potential substitutes.

In this article

Introductory offerN / A

APR13.24% – 25.24% Variable APR

Recommended credit Excellent, good

Reward rateN / A

Annual fees$0

Intro Purchase APR0% introductory APR for up to 21 months from account opening

Intro Balance Transfer APR0% introductory APR for up to 21 months from account opening on eligible balance transfers

Balance Transfer Fee up to 5%; minimum: $5

APR balance transfer13.24% – 25.24% Variable APR

Foreign transaction fees 3%

APR Penalty Nothing

Introductory APR on purchases

With the base 0% APR introductory offer on purchases 18 months from the opening of the account, this card is one of the best on the market in this category. No interest will be applied to any purchases you make during the first 18 months as long as you pay the minimum monthly payments on time. Making the minimum payments each month (during the introductory and extension periods) also allows you to benefit from the extension of up to three months on the introductory APR.

Just keep one thing in mind. Whether you get 18 months or 21 months from opening the Introductory TAP account, at the end of the promotional period, your APR will then increase to 13.24% to 25.24% variable. This means that it’s best that you plan to pay off your balance in full by the end of the promotional APR period so that you don’t accrue interest. You can do this as a lump sum payment at the end of the promotion, as equal monthly payments, or anything in between, as long as you reach that minimum monthly payment along the way.

Perform a balance transfer

You also get a 0% Introductory APR on eligible balance transfers for the first 18 months from account opening – with the same possibility of an extension of up to three months when you make all your minimum payments on time during the introductory and extension periods (13.24 % to 25.24% variable APR thereafter). Doing a balance transfer on such a card is a great way to consolidate your debts and save on interest charges.

To receive the introductory APR on your eligible balance transfers to the Wells Fargo Reflect Card, you will need to request the balance transfer within 120 days of account opening.

It’s best to initiate a balance transfer request as soon as you receive your card, as the promotional clock starts ticking when you open your account. For example, if you wait three months to initiate your balance transfer, you will only get the remaining 15 months of introductory APR (plus the extension option mentioned above).

Regarding the balance transfer fee, that’s pretty standard for the industry: 3% introductory balance transfers with a $5 minimum, for any balance transfers made within 120 days of account opening. But after 120 days, this fee increases to 5% ($5 minimum), which is one of the highest balance transfer fees. Bottom line: If you’re getting this card specifically to do a balance transfer and temporarily escape a higher-interest card, only apply for it once you’re ready to make the transfer.

Other advantages

There aren’t many other benefits with this card – its strength is the introductory APR.

There are, however, a few small benefits that some may be interested in. You’ll get up to $600 in cell phone protection—that’s reimbursement if the phone is damaged or stolen—if you pay your cell phone bill with this card. (There is a $25 deductible.)

Another benefit is the “My Wells Fargo Offers” that you can opt into through your account. Some merchants may offer special offers to Wells Fargo credit card users, such as cash back promotions (in the form of statement credit). These offers will all be subject to their own terms and expiration dates.

Comparable cards

Wells Fargo Active Cash℠ Card

Many credit cards with introductory APRs on purchases also allow you to earn rewards on those transactions. Although the Wells Fargo Active Cash Card has a significantly shorter introductory APR period, the 2% cash rewards on purchases are likely to sway many shoppers. Another perk is the welcome bonus – you can earn a $200 cash rewards bonus when you spend $1,000 on purchases in the first three months.

Check out our full review on Active Wells Fargo payment card for more details.

Citi® Diamond Preferred® Card

The Citi Diamond Preferred card also offers one of the longest introductory APRs – on balance transfers, at least. You get a 0% introductory APR on balance transfers for 21 months from the date of the first transfer, while you get a less impressive 0% introductory APR on purchases for 12 months from account opening date (13.99% to 23.99% variable APR, after). Balance transfers must be completed within four months of account opening. However, you will incur a 5% balance transfer fee with a minimum of $5 on all balance transfers with this card, regardless of when you make the transfer.


How do balance transfer credit cards work?

Although balance transfer credit cards are technically credit cards, they are more like a debt financing tool. They are best used to pay off existing credit card debt rather than as a method of payment.

A balance transfer is when you take the debt, or balance, you owe on one card account and transfer it to another credit card account. Usually this is done for the purpose of saving money by transferring debt from a high interest account to a low or no interest account.

While many credit cards allow balance transfers, those primarily designed for this purpose all share one main feature: an introductory period of 0% APR on balances transferred to this account, generally applicable to transfers made within 60 to the first 120 days following possession of the card. The introductory period of the APR usually lasts between 12 months and 21 months, which gives you a significant period of time to pay off your balance without interest.

While a few credit cards offer free transfers, most balance transfer cards charge a fee to transfer your debt, usually between 3% and 5%. Generally speaking, the longer the 0% APR introductory period, the higher the fees, and vice versa. So, the best cards with no balance transfer fee have a shorter introductory APR period, and those with the longest introductory APR period have transfer fees of 3% to 5%.

If I still have a balance after the APR introductory period ends, can I just continue to transfer my debt to a new balance transfer card?

Technically, yes. In some cases, transferring your balance two or three times might even be what is needed to finally pay off your debt. But unless you fully understand how you got into debt and have a plan to get out of it, you won’t be looking for a solution.

While transferring your remaining debt to a second balance transfer card can allow you to pay off your balance without monthly interest or fees, it’s important to note that there are too many variables for multiple balance transfers to be a strategy. failure-proof debt.

For example, your card application could be declined, your credit limit could be much lower than you expected, or your transfer request could be declined. Credit card offers could also change, making it difficult to plan ahead. For this reason, I recommend choosing a card that allows you to pay off the full balance after a cycle if possible.

How long will it take to complete a balance transfer?

It can take between 10 days and six weeks to complete a balance transfer, after we receive your new card and the cardholder’s consent. It is also important to note that some card issuers, such as Citi, make balance transfers available at their discretion and therefore may decline a transfer request. And you should probably still pay the minimum on the old card balance until you’ve confirmed the transfer has been made, so you don’t run the risk of fees or penalties.

Our approach

We review the most popular cards with the best benefits. We go through the fine print so there are no surprises when you open an account. We find the key factors that make a card stand out and compare them to other top cards. This way, readers can opt for a different card with similar functionality if our choice doesn’t suit them. Our opinions are regularly checked and updated to incorporate new recommendations, as well as to reflect changes in offers and the market.

Editorial content on this page is based solely on objective, independent assessments by our editors and is not influenced by advertising or partnerships. It was not supplied or commissioned by a third party. However, we may receive compensation when you click on links to products or services offered by our partners.


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