Wells Fargo Launches Reflect Credit Card (Up To 21 Months 0% APR)

Wells Fargo has launched a new credit card called ‘Reflect‘. This is the low APR card that was previously announced. The card has the following benefits:

  • No annual fee
  • 0% introductory APR for 18 months and intro APR extension of up to 3 months with on time payments

Unfortunately there is a balance transfer fee of 3% or $5 whatever is more. We are starting to see more of these 0% introductory APR offers after most of them were pulled due to the uncertainty the pandemic caused.
    William Charles
  • On October 1, 2021, 18:58
Tags: wells fargowells fargo reflect

View Comments (33)

  • DP - P2 applied and not auto-approved. Got letter seven days later asking for lots of proof of the “eBay” business. Not going to bother with WF, moving on to next FI.

  • It's much better for your credit score to get a 0% APR business card than a 0% APR personal card.

  • I've done a couple of these 0% APR deals lately. Before I never found a use for them because I typically have few expenses but I'm finding it a more and more compelling idea to take the deal, request BT checks from the provider, deposit those checks in my checking account and then transfer it to Bitcoin. Seriously, if Bitcoin is going to average 300%, or close to it, every year than that's a far better use than spending it on consumer shits. Ethereum averages ~750% as of today too. Fellow DoC friends, take a close look at Bitcoin. This website, DoC, has given me a lot over the years, now is my attempt to give back.

    Look into Bitcoin.

    Best,

    Kody

    • There's nothing wrong with this, but I would consider keeping the amount you get from the cash advance to a minimum. What you're essentially cool with losing. Coins do have bear markets as well and have had negative returns of 12 months.

      1. Don't take out too much debt. Consider it like going to casino
      2. Have a set amount of profit you're good with. Once you get there, start selling and paying back the debt.

      May want to also consider services such as Celsius and Blockfi, where you can hold crypto and gain interest there.

    • @guest_1260872 What if the percent gains you've mentioned are not actually measured in Dollars but Tethers instead? What if there aren't enough dollars available at a ratio of one-to-one to back those Tethers which are being printed up out of nothing and used to bid up other crypto currencies?

      • Christopher,

        That's an interesting question.

        The gains I mentioned are historical annualized averages of BTC and ETH so it's not a rule that they will return that on an annual basis. It is easy enough to transfer Bitcoin into USD by using a centralized exchange like Coinbase or Gemini if one isn't trusting their Bitcoin/Ethereum percent gains are available in USD. That's kinda the best response I can think of regarding your question...

        Here is a referral link to Gemini (an exchange I use and find simple enough): https://gemini.com/share/qmex5z3e

        You can also test this out on Robinhood but you won't actually be able to hold your crypto until RH offers a wallet so it's less ideal in my opinion.

        • How did this speculation (gambling) in Bitcoin turn out for you, considering BTC dumped over 80% since you posted this?

          • Considering on Oct 4 2021 the price of bitcoin was ~$49k in USD terms, it's going pretty well. Thanks for asking. ;)

      • There is mal investment in every investment space at one time or another. Just because there was a time when Tulips hit a frenzy does not mean Bitcoin is the same. I mean, at one time weren't Beanie Babies also in a craze? This is nothing new.

        Implying that Bitcoin is the same as the Tulip craze shows me there is a lack of understanding on many levels of Bitcoin (e.g., scarcity, fungibility, durability, transferability).

        If you want to elaborate on the link then I'm willing to engage you more but simply sharing a link only gives me so much to work with in regards to responding to you.

    • Gambling on internet coins with credit card debt. I guess I've seen worse advice on the internet but still.

      • No, no. You make the mistake of making an assumption without asking further questions, Griff. You don't see the full story because you don't know anything about my situation. Sure, it could be considered gambling if I were betting the house, but that's not what I'm saying nor am I doing. Holding dollars in a savings account is actually worse than holding dollar in BTC or ETH. If you can understand this idea then you know it is something other than gambling - it is being an astute investor.

  • I do not understand this gimmick of up to three months extension with on time payments. Does that mean they might only give you one month? And already with all other zero percent cards, if you miss a payment they jack up the interest rate to penalty apr so I double don’t get this

    • Yeah doesn't make much sense, I think it's just a 21 month offer and they are trying to encourage people to sign up with an incentive for on time payments.

    • "Does that mean they might only give you one month?" You write the answer after your question. If you make the due dates during intro period but pay late during extension, then you should understand what happens next.

      • That goes without saying. It would be the same thing if they just straight up said 21 months 0% with usual terms & conditions of of you have a late payment at any time during the 21 months, penalty apr will kick in

  • has wf now loosen up the required checking acct in order to be even considered for their credit cards after their so called credit card revamp?

    • I just got approved for the active cash card earlier this week and I have no prior relationship with Wells Fargo whatsoever.

    • Middle of the pack, in my experience. When we got our cards in 2018, I got 9K, my wife got 10K. I also have a business card with 6K.

    • Low. For me, far less than other issuers for card limit and total credit among cards. Active Cash was only $4k and they wouldnt budge, despite high fico and clean reports. I have a lot cards, and this is now my lowest limit.

  • If you're just wanting a low annual fee, you would be better off with either the Chase freedom UL or Flex. The Also have a 0% apr. I think it's only for 15 months but the $200 sign up bonus would more than make up for it.

    • There is also the US Bank platinum card. It’s 0% apr for 20 billing cycles, without having to ask for an extension after 18 like this one. There is no sign up bonus like with Chase but is five extra months. Just keep in mind US Bank can be stingy with credit limits in case you need to float a large amount.

Leave a Comment