Wells Fargo launches new Reflect Card

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Wells Fargo is making good on its promise to revamp its line of credit cards. In July, the issuer launched the Wells Fargo Active Cash℠ Card with a boosted flat cash back rate of 2 percent. Now the bank’s latest card, the Wells Fargo Reflect℠ Card, is poised to offer one of the longest introductory APR balance transfer periods on the market.

The longer introductory term could appeal to consumers who took on more high-interest debt during the pandemic or those who just want to get rid of high-interest debt in general. The Wells Fargo Reflect card could also work for anyone with plans to make purchases they’d like to finance over a longer period without interest charges.

What the Wells Fargo Reflect Card offers

  • Annual fee: $0
  • Purchase intro APR: 0 percent for up to 21 months from account opening
  • Balance transfer intro APR: 0 percent for up to 21 months on qualifying balance transfers
  • Regular APR: 12.99 percent to 24.99 percent variable

As you can see, there aren’t many bells and whistles with the Wells Fargo Reflect card, but its lengthy introductory 0 percent APR period for purchases and balance transfers are noteworthy.

How does the Reflect card’s introductory APR work?

There’s a little bit of fine print you should pay attention to when taking advantage of the 21-month 0 percent APR offer. The official 0 percent APR term for the card is 18 months. However, you are eligible for an additional three months of 0 percent APR provided you make on-time payments for 18 months. Once the introductory 0 percent APR terms ends, the regular APR is 12.99 percent to 24.99 percent variable. This applies to both purchases and balance transfers.

If you plan to take advantage of the 0 percent APR offer for a balance transfer, it’s best to do it sooner rather than later. If you complete your balance transfer within 120 days of opening your account, the balance transfer fee is 3 percent. After 120 days, the fee is 5 percent.

What else does the Wells Fargo Reflect offer?

As part of the Wells Fargo family of cards, the Reflect includes some additional benefits. You can get up to $600 of cellphone protection if you use your Reflect card to pay your cellphone bill each month (subject to a $25 deductible). Also, you can earn cash back in the form of a statement credit by using your Reflect card with My Wells Fargo Deals for savings on eligible shopping, dining and other purchases.

Who is the Wells Fargo Reflect Card for?

If you are looking for welcome bonuses or the opportunity to earn ongoing credit card rewards, this card is not for you. However, if you are looking for a card that can offer a longer-than-usual 0 percent introductory APR without an annual fee, the Wells Fargo Reflect card could help you reach your financial goals.

Written by
Aja McClanahan
Personal Finance Writer
Aja McClanahan is an author, blogger and speaker on personal finance and entrepreneurship. Aja is the author of "How a Mother Should Talk About Money with Her Daughter."
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