Wells Fargo Reflect card overview: Refinance debt and even get cellphone safety

The Wells Fargo Reflect® Card (charges & charges) is ideal for these trying to refinance their debt with a strong introductory stability switch alternative. While mild on general advantages, the cardboard brings you again to the fundamentals and even comes with cellphone safety once you pay your month-to-month invoice with this card. Card ranking*: ⭐⭐⭐

*Card ranking is predicated on the opinion of TPG’s editors and isn’t influenced by the cardboard issuer.

If lowering your debt is considered one of your high priorities, a bank card just like the Wells Fargo Reflect Card will help you keep away from paying curiosity on balances you carry within the interim.

For no annual payment, you may switch your balances out of your different bank cards to the Wells Fargo Reflect and reap the benefits of its 0% introductory annual share price (APR) for 18 months from account opening on purchases and qualifying stability transfers (then a variable APR of 17.49%-29.49% applies). There can be the potential to increase this era (for 3 months) by making on-time minimal funds throughout the introduction interval.

Let’s check out all the small print and see if that is the cardboard for you.

As talked about above, the principle perk of opening this card is the introductory APR alternative. If you anticipate a big buy that you just need to finance over 18 months, you’ll be saved by the introductory curiosity charges for this era. What’s distinctive about this card is that there’s a chance to increase this introduction APR interval for 3 months, as long as you pay on-time minimal funds throughout the introductory interval. This provides you a complete grace interval of as much as 21 months — amongst the longest we have seen

You also can take pleasure in 0% introduction APR on qualifying stability transfers made inside the first 120 days for these with present debt (then a variable APR of 17.49%-29.49% applies). Just be aware that there’s a stability switch of three% throughout this introductory interval, then a payment of as much as 5% (with a minimal of $5) thereafter.

While there’s no strategy to accrue factors, miles and even money rewards with this card, you may obtain as much as $600 of cellphone safety towards harm and theft once you pay your month-to-month cellphone invoice along with your card (topic to a $25 deductible). Monthly cellphone insurance coverage will be dear, so this wonderful safety mechanically comes with a card with no annual payment.

Many issuers have come out with their very own debt refinancing bank cards, so there’s no scarcity of choices in comparison with the Wells Fargo Reflect.

• If you favor Citi: Citi® Diamond Preferred® Card cardholders take pleasure in a 0% introductory APR for brand spanking new purchases for the primary 12 months of account opening, and 0% introductory APR for 21 months from the date of the primary switch for stability transfers accomplished inside the first 4 months of account opening. Note that there’s a stability switch payment of both $5 or 5% of the quantity of every switch, whichever is larger. After the introduction interval, there’s a 17.49%-27.24% variable APR based mostly in your creditworthiness.
• If you favor Bank of America: The BankAmericard® bank card additionally has no annual payment and a 0% introductory APR for 21 billing cycles for purchases and any stability transfers made within the first 60 days. After the introduction APR provide ends, a 16.24%-26.24% variable APR will apply. A 3% payment (min $10) applies to all stability transfers. For extra data, learn our full overview of the BankAmericard card.

For further choices, try our full record of stability switch bank cards.

Read extra: 5 tricks to make a profitable stability switch

The Wells Fargo Reflect isn’t competing on the identical stage as high rewards playing cards equivalent to The Platinum Card® from American Express or the Chase Sapphire Reserve. Instead, it’s for customers who want a financing (or refinancing) provide earlier than accruing bank card factors and miles. With diligent, on-time funds, you’ll see your credit score rating rise, qualifying you for these journey rewards bank cards down the street.

Additional reporting by Ryan Wilcox.