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If you have a large purchase coming up, or you just want to save a little bit of money on credit card interest, you might be looking for a 0 percent introductory APR credit card. But with so many different cards offering zero interest on purchases (and sometimes balance transfers), it can be hard to choose the right one. Two of the best options for a 0 percent intro APR credit card are the BankAmericard® credit card and the Wells Fargo Reflect® Card — but depending on your specific needs, one may be a better choice than the other.
Both offer similar 0 percent introductory periods and have a $0 annual fee. These factors combined make these cards similar, but there are a few differences that set them apart, such as the ongoing APR rate and balance transfer fees.
|BankAmericard||Wells Fargo Reflect Card|
|Regular APR||14.24% to 24.24% variable||16.74% to 28.74% variable|
|Balance transfer fee||3% or minimum $10 fee||3% or minimum $5 fee during first 120 days, then 5% or minimum $5 fee|
BankAmericard vs. Wells Fargo Reflect Card highlights
Intro APR winner: Wells Fargo Reflect Card
The Wells Fargo Reflect offers an extended APR introductory period up to 21 months for both purchases and qualifying balance transfers after making consistent, on-time monthly payments during the introductory period, as opposed to the BankAmericard’s introductory APR period for 21 billing cycles on purchases and balance transfers, but only for transfers within 60 days of opening an account. This goes to show that the Wells Fargo Reflect may be more practical if you plan to transfer a large balance in the near future.
Lowest potential APR winner: BankAmericard
Both cards charge APRs after the introductory period ends, but the BankAmericard charges a slightly lower variable APR of 14.24 percent to 24.24 percent, whereas the Wells Fargo Reflect card charges a variable APR of 16.74 percent to 28.74 percent.
Balance transfer fee winner: BankAmericard
With a balance transfer fee of 3 percent (or $10, whichever is greater), the BankAmericard easily wins over the Wells Fargo Reflect card, which eventually increases its balance transfer fee from 3 percent to 5 percent (or $5, whichever is greater) after the first 120 days of account opening.
Annual fee winner: Tie
Because neither card has an annual fee, both the BankAmericard and the Wells Fargo Reflect card are excellent choices for those who want to take full advantage of the introductory period — whether for a balance transfer or financing a big purchase.
Which card saves more on balance transfers?
Both the BankAmericard and Wells Fargo Reflect offer lengthy intro APR periods on balance transfers, but when it comes to which card will save you the most money will depend on how much you plan to transfer, how you intend to pay back the debt and how quickly you plan to do so.
BankAmericard vs. Wells Fargo Reflect Card balance transfer example
Let’s compare transferring a $3,000 balance to either card using our credit card balance transfer calculator.
With the BankAmericard, you’ll pay a 3 percent balance transfer fee ($90), bringing your total balance to $3,090. With 21 billing cycles to pay off the debt before accruing interest, you could pay approximately $147 per month to bring the balance down to zero by the end of the intro APR period.
After 120 days of account opening, you’ll be charged a slightly higher 5 percent balance transfer fee ($150) for a total balance of $3,150 with the Wells Fargo Reflect. You would pay approximately $150 each month for 21 months to decrease the amount to zero by the completion of the intro period.
From this example, these cards have relatively comparable monthly payments — but factors other than the balance transfer fee may contribute to which card you’d prefer for this situation, such as the variable APR in the event you don’t fully repay your debt during the introductory period.
Why should you get the BankAmericard?
Though the BankAmericard doesn’t offer any rewards on purchases, it’s still a solid balance transfer credit card option to consider. Take a look at some of the benefits BankAmericard offers, as well as the recommended credit score for the best chance at qualifying.
Recommended credit score
The recommended credit score is good to excellent (670 to 850) for this card.
Why should you get the Wells Fargo Reflect Card?
The Wells Fargo Reflect doesn’t have many frills either, but unlike the BankAmericard, cardholders can receive cash back as account credit through the My Wells Fargo Deals rewards program. Here are some other Wells Fargo Reflect benefits to consider, as well as the recommended credit score for applicants.
The Wells Fargo Reflect Card does offer traditional Visa benefits, including travel perks such as roadside assistance and emergency cash disbursement and up to $600 in cell phone insurance against damage or theft when you pay your monthly cell phone bill with your eligible Wells Fargo card (subject to a $25 deductible).
Recommended credit score
When applying for this card, the recommended credit score is good to excellent (670 to 850).
The bottom line
Although neither card offers the perks and benefits of rewards credit cards that offer a 0 percent APR introductory period on purchases, balance transfers or both — both the BankAmericard and Wells Fargo Reflect are worthwhile options to consider if you need to transfer a balance from an existing card and pay it off over an extended period of time with no interest.
Ultimately, since some of the features between these two cards are very similar, the best choice would be determined solely by your personal preferences as a cardholder, whether that be a low APR rate, additional perks, a low balance transfer fee or a longer length of time to transfer a balance. The BankAmericard might be right for you if you’re looking for a longer introductory APR period with a lower ongoing balance transfer fee and the possibility of a lower APR rate, whereas the Wells Fargo Reflect may be right for you if you value having cardholder perks and need more time to transfer a balance.