Wells Fargo Credit Score For Home Loan - Rating is determined by our editorial team. The scoring formula takes into account the type of card being reviewed (such as cash back, travel or balance transfer) and the card's rates, fees, rewards and other features.
This card will give you enough time to pay off debt or finance a large purchase without being charged interest. But it doesn't offer much in the way of lasting value.
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The card earns an unlimited lump sum on all your spending. In addition, it has an introductory APR of 0% on balance transfers for 18 months and then an ongoing APR of 17.74-27.74% variable rate. It charges an annual fee of $0.
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The Wells Fargo Reflect® Card is one of the newest additions to the issuer's growing portfolio and is a good option for consumers looking to pay down debt or pay for a large purchase. The $0 Annual Fee Card offers a very long window for an introductory 0% APR on purchases and balance transfers, and the option to extend this promotional period even further.
However, once the introductory 0% APR ends, the card has no ongoing rewards or additional benefits that could make long-term use worthwhile.
APR: 0% introductory rate on purchases up to 21 months and 0% introductory rate on balance transfers up to 21 months from account opening on eligible balance transfers, then 16.74% - 28.74% APR vary
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Balance Transfer Fee: Transfer requests made within 120 days of account opening are subject to an introductory balance transfer fee of $5 or 3%, whichever is greater. After that, the card charges up to 5% of the amount of each transfer, with a minimum of $5.
The Wells Fargo Reflect® Card offers a long interest-free period, which can make it cheaper to pay off debt transferred from a high-interest card or pay for large purchases. New cardholders get 0% introductory APR on purchases for up to 21 months and 0% introductory APR on balance transfers up to 21 months after account opening on eligible balance transfers, then an ongoing 16, 74%-28.74% variable APR.
Customers actually get a nearly two-year break in interest payments. This is one of the longest introductory 0% APR periods on purchases and balance transfers between similar cards on the market. After this interest-free period, cardholders will be charged the current APR.
And while 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% introductory or $5 (whichever is greater) on transfers requested in the first 120 days after account opening. This is on the lower end of what cards usually charge and can be a cheap debt transfer.
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Carrying the Wells Fargo Reflect® Card won't cost you anything because it's easier to hold. Having a credit card account open for a long time can have a positive effect on your credit history and consequently your credit score.
But keep in mind that while it might make sense to keep the Wells Fargo Reflect® Card because of the potential benefits to your credit history, you'll be charged the current APR after the card's promotional period ends — and it'll apply to any defaults. balance from the interest-free period in addition to new purchases.
Cards that charge annual fees can often be worth it because they usually come with premium rewards and benefits that offset the annual fee. But if your goal is to pay off debt, earning rewards shouldn't be the card's top priority.
Following a growing trend among credit cards, the Wells Fargo Reflect® Card offers mobile phone protection. When you use your card to pay your monthly mobile phone bill, you can get up to $600 in coverage - up to twice a year - against phone theft and damage.
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The card's interest-free period is valuable, but it won't provide any long-term benefits after the promotional APR ends. Earning rewards may not come first when paying down debt, but there are cards with long 0% APR periods and incentives to keep them after the introductory offers expire.
For example, another card from the issuer—the Wells Fargo Active Cash® Card with a $0 annual fee—has a 0% introductory APR on purchases for 15 months and a 0% introductory APR on balance transfers for 15 months from account opening to a qualifying balance. transfers, then an ongoing APR of 18.74%, 23.74% or 28.74% variable APR. In addition to this interest-free withdrawal, it has long-term value in the form of rewards: holders earn unlimited cashback of 2% on the purchases they make. It also comes with the following starter bonus: Earn a $200 cash reward after spending $1,000 on purchases in the first 3 months.
For a 0% interest card with even more earning potential, consider the Discover it® Balance Transfer. Offers 0% introductory APR on purchases for 6 months and 0% introductory APR on balance transfers for 18 months, then an ongoing APR of 14.99%-25.99% variable APR. Plus, it comes with additional rewards: 5% cashback on rotating quarterly categories on up to $1,500 in purchases each quarter with activation. All other purchases receive 1% cash back. Bonus categories have historically included gas stations, restaurants, wholesale clubs and more. It charges an annual fee of $0.
The card charges a 3% foreign transaction fee, which means it will be expensive to use the card abroad. If you plan to shop abroad, there are cards that don't charge foreign transaction fees and come with valuable perks like 0% APR promotions, rewards and travel deals.
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For those looking for a very long interest break, the Wells Fargo Reflect® Card is a best-in-class option. The 0% introductory APR on purchases and balance transfers is one of the most competitive on the market. However, once this promotional period ends, the card does not offer additional benefits that would make it worth using in the long term.
Reviews credit cards with an eye on quantitative and qualitative card features. Quantitative features are those related to dollars and cents, such as commissions, interest rates, rewards (including win rates and redemption values), and the monetary value of benefits and perks. Qualitative factors are what affect how easy or difficult it is for the average cardholder to get good value from the card. These include things like ease of use, the simplicity of the rewards structure, the likelihood of using certain features, and whether the card is suitable for everyday use or best reserved for specific purchases. Our star ratings serve as a general measure of how each card compares to others in its class, but star ratings are meant to be just one point when a consumer is choosing a credit card. Learn how to rate credit cards. I like this book. I received 30,000 secondary points on my first purchase. I ran Experian Fico for myself 9. 772. Limit $8800.
Great book. Easy application fresh. It was approved in less than a minute with a credit limit of $19,000. My FICO is 830. 0% APR for the first 12 months...how sweet is that?
I was told my chances of approval were "excellent". Rejected by 730. WF open accounts for dead people but rejected me. I called the reassessment line and am now waiting for the insurance company.
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I have Visa Signature for 25 years (30K REVOL), AMEX Propel for 3 years (10K Revolv) and today I was approved for this card for $4000. Over 800 credits. I thought the credit limit would be higher. WF is good at lifting limits and often just needs a light pull.
She was approved for $5,000 with this card within minutes with a 741 FICO 9. I applied directly through Wells Fargo because I have accounts and other cards with them. With a $0 annual fee, 0% for 12 months, triple points at MANY places, and 30,000 bonus points after spending $1,500 in 3 months, this is one of my top cards! I have several cards and this is by far the best with reward points. Well, Fargo also allowed me to increase my credit limit by transferring credit from one of my other WF cards to this one. Which means I had another WF card with an $8500 limit and took $3500 from that and switched to this one. Now the limit is $8,500. The customer service was excellent and walked me through everything!
I have an active cash card and tried to apply for it and was declined. I have never been late with a payment
If anyone has ever had an American Express Thruster from Wells Fargo, it's the same if you have a Thruster too, that would be a good option to add as they accept visas in
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