by Daniel | Last Updated November 28th, 2021
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Do you like the idea of having a credit card that offers one of the longest 0% introductory APR’s on the market?
Then the Wells Fargo Reflect Card may be of interest to you as it offers almost 2 years of 0% APR, and this can give you more purchasing flexibility as it will allow you to finance you purchases without any interest.
In this article I’m going to review the Wells Fargo Reflect Card Visa Card.
I’ll go over what the card offers in terms of benefits and then decide if the card is worth it.
Who Is This Card Good For?
As the Wells Fargo Reflect card has no annual fee and offers an extremely long 0% Introductory APR of up to 21 months, it is good for anybody that is new to credit cards or needs more flexibility in when they pay back their due credit.
Unfortunately the card doesn’t have a sign-up bonus or rewards earning for spending, so it is a quite limited in that sense.
APR
So to begin with you will get a 0% intro APR of 18 months with the ability to get an extra 3 month extension if you make sure to pay the minimum monthly payment during the Introductory period.
And all up that’s 21 months of 0% APR, which Is almost 2 years.
After this period is up the APR will be between 12.99% and 24.99% depending on what your creditworthiness is, and will vary with the market depending on what the Prime Rate is.
The APR for Cash advances and overdraft protection advances is 25.99%
Fees
Now let’s take a look at what fees come with the card.
For balance transfers there is an introductory fee of either $5 or 3% of the total amount of each transfer, and this depends on whichever amount is more.
120 days after you have opened your account this rate will change to %5 for each balance transfer with a minimum charge of $5.
Next up, for cash advances it will cost either $10 or 5% of the total amount of each advance, which ever costs more.
For overdraft protection advances that are less than $50 there will be a charge of $12.50.
And if it the advance is over $50, it will cost $20.
Next up there is a late payment fee which can cost up to $40.
There is also the same $40 charge for any returned checks or refund payments.
And finally there is a foreign transaction fee of 3% per transaction.
So the introductory fee of 3% for the first 120 days for balance transfers is a nice little extra to have, but the fact that it charges a foreign transaction fee of 3% per transaction isn’t so great.
Insurance-Related Benefits
Next up, let’s see what other features come with this card.
First of all, you will get cell phone protection that covers up to $600 in the event of damage or theft.
And you can make 2 claims per 12 month period with each claim incurring a $25 deductible.
And for this coverage to be valid you must pay for your monthly phone bill with the card.
Next up you will be covered by zero liability protection which means you won’t be liable for any unauthorized transactions that are made to your card, as long as you report it as soon as possible.
And finally, you will have access to ‘Roadside Dispatch’ which provides you with 24/7 on-demand emergency roadside assistance for towing or locksmith service.
Just note that this service does incur a minimum service charge of $69.95.
Final Thoughts
So what are my thoughts about the Wells Fargo Reflect Card?
I think it is a useful card to have, especially if you like the ability to carry over your balance owing and not have to pay for it.
I do however believe that if is extremely import to avoid ever carrying over a balance on a credit card as it can potentially cost you a lot of money.
To be honest there are a lot of other credit cards that are also free on an annual basis that offer a lot more value than this card.
One of which is the Chase Freedom Flex card, it has a 0% intro APR for 15 months, which is not quite a long as the Reflect Card but is still decent.
It offers a $200 bonus after you spend $500 in the first 3 months of opening your account and it also has a decent ability to earn cash back just by using the card.