Wells Fargo Reflect Card Review: An Extended Break From Interest

One of the latest additions to the issuer’s growing portfolio, the Wells Fargo Reflect® Card is a solid option for consumers looking to pay down debt or pay off a large purchase. The $0-annual-fee card offers an extra-long window for 0% intro APR on purchases and balance transfers, as well as the potential to extend this promotional period even longer.

That said, once the 0% intro APR ends, the card lacks ongoing rewards or additional perks that might make it worth using long-term.

» MORE: Best balance transfer credit cards

Wells Fargo Reflect® Card: Basics

Card type: Balance transfer.

Annual fee: $0.

Sign-up bonus: None.

Rewards: None.

APR: 0% intro APR on Purchases for up to 21 months and 0% intro APR on Balance Transfers up to 21 months from account opening on qualifying balance transfers, and then the ongoing APR of 17.49%-29.49% Variable APR

Foreign transaction fee: 3%.

Balance transfer fee: For transfer requests made 120 days from account opening, a balance transfer fee of $5 or 3% intro applies, whichever is greater. After that, the card charges up to 5% of each transfer amount, with a minimum of $5.

Other benefit: Cell phone protection.

Why you might want the Wells Fargo Reflect® Card

You’ll get an extra-long 0% intro APR period

The Wells Fargo Reflect® Card offers a lengthy interest-free period, which can make it less costly to pay down debt transferred from a high-interest card or to pay off large purchases. New cardholders get 0% intro APR on Purchases for up to 21 months and 0% intro APR on Balance Transfers up to 21 months from account opening on qualifying balance transfers, and then the ongoing APR of 17.49%-29.49% Variable APR

Assuming that you pay your bill on time each month, you'll effectively get a nearly two-year break on interest. That's one of the longest 0% intro APR periods for purchases and balance transfers among similar cards on the market. After this interest-free period, holders will be charged the card's ongoing APR.

And although it charges a balance transfer fee like most cards in its class, the Wells Fargo Reflect® Card offers a lower balance transfer fee of 3% intro or $5 (whichever is greater) for transfers requested in the first 120 days of account opening. This is on the lower end of what cards typically charge and can make it less expensive to transfer debt.

» MORE: Balance transfers: Benefits, drawbacks and alternatives

It doesn’t charge an annual fee

It won’t cost you anything to carry the Wells Fargo Reflect® Card, which can make it easier to hold on to it. Keeping a credit card account open for a longer period of time can positively impact your length of credit history and, subsequently, your credit score.

However, keep in mind that while it might make sense to hold on to the Wells Fargo Reflect® Card for the potential benefits to your credit history, you’ll be charged its ongoing APR once the card’s promotional period ends — and it will apply to any unpaid balance from the interest-free period in addition to new purchases.

It comes with cell phone protection

Following a growing trend among credit cards, the Wells Fargo Reflect® Card offers cell phone protection. When you use your card to pay for your monthly cell phone bill, you can get up to $600 in coverage — up to two times per year — against theft and damage to your phone.

» MORE: What to expect from Wells Fargo's cell phone insurance

Why you might want a different card

You won’t earn ongoing rewards

The card’s interest-free period is valuable, but after the promotional APR ends, it won’t offer any long-term benefits. Earning rewards might not be top of mind while paying down debt, but there are cards that feature long 0% APR periods as well as incentives to hold on to them after their introductory offers expire.

For example, another card from the issuer — the $0-annual-fee Wells Fargo Active Cash® Card — comes with a 0% intro APR on Purchases for 15 months and 0% intro APR on Balance Transfers 15 months from account opening on qualifying balance transfers, and then the ongoing APR of 19.49%, 24.49%, or 29.49% Variable APR. In addition to this interest-free stretch, it has long-term value in the form of rewards: Holders earn an unlimited 2% cash back for purchases they make. It also comes with the following bonus for newcomers: Earn a $200 cash rewards bonus after spending $1,000 in purchases in the first 3 months.

For a 0% APR card with even more rewards earning potential, consider the Discover it® Balance Transfer. It features a 0% intro APR on Purchases for 6 months and 0% intro APR on Balance Transfers for 18 months, and then the ongoing APR of 16.24%-27.24% Variable APR. Plus, it comes with bonus rewards: 5% cash back on rotating quarterly categories on up to $1,500 in purchases each quarter, with activation. All other purchases get 1% cash back. Bonus categories in the past have included gas stations, restaurants, wholesale clubs and more. It charges an annual fee of $0.

For other potential alternatives, visit NerdWallet's roundup of best credit card offers.

It charges a foreign transaction fee

The card charges a 3% foreign transaction fee, which means it will be costly to use the card abroad. If you’re planning on making purchases outside the country, there are cards that don't charge foreign transaction fees and that come with valuable benefits such as 0% APR promotions, rewards and travel perks.

Should you get the Wells Fargo Reflect® Card?

For those looking for an ultra-lengthy break from interest, the Wells Fargo Reflect® Card is a best-in-class option. Its 0% intro APR for purchases and balance transfers is one of the most competitive on the market. However, once this promotional period ends, the card doesn't offer additional perks that would make it worth using in the long term.