Wells Fargo Reflect card review: Refinance debt and even get cell phone protection

Wells Fargo Reflect® Card overview

The Wells Fargo Reflect® Card (rates & fees) is perfect for those looking to refinance their debt with a solid introductory balance transfer opportunity. While light on overall benefits, the card brings you back to the basics and even comes with cell phone protection when you pay your monthly bill with this card. Card rating*: ⭐⭐⭐

*Card rating is based on the opinion of TPG’s editors and is not influenced by the card issuer.

If reducing your debt is one of your top priorities, a credit card like the Wells Fargo Reflect Card can help you avoid paying interest on balances you carry in the interim.

For no annual fee, you can transfer your balances from your other credit cards to the Wells Fargo Reflect and take advantage of its 0% introductory annual percentage rate (APR) for 18 months from account opening on purchases and qualifying balance transfers (then a variable APR of 17.49%-29.49% applies). There is also the potential to extend this period (for three months) by making on-time minimum payments during the introduction period.

Let’s take a look at all the details and see if this is the card for you.

Wells Fargo Reflect welcome Offer

Unfortunately, the Wells Fargo Reflect does not currently offer a welcome bonus when you apply for the card.

Wells Fargo Reflect benefits

As mentioned above, the main perk of opening this card is the introductory APR opportunity. If you anticipate a large purchase that you want to finance over 18 months, you’ll be saved by the introductory interest fees for this period. What’s unique about this card is that there’s an opportunity to extend this introduction APR period for three months, so long as you pay on-time minimum payments during the introductory period. This gives you a total grace period of up to 21 months — amongst the longest we've seen

You can also enjoy 0% introduction APR on qualifying balance transfers made within the first 120 days for those with existing debt (then a variable APR of 17.49%-29.49% applies). Just note that there’s a balance transfer of 3% during this introductory period, then a fee of up to 5% (with a minimum of $5) thereafter.

While there’s no way to accrue points, miles or even cash rewards with this card, you can receive up to $600 of cellphone protection against damage and theft when you pay your monthly cellphone bill with your card (subject to a $25 deductible). Monthly cellphone insurance can be pricey, so this excellent protection automatically comes with a card with no annual fee.

Which cards compete with the Wells Fargo Reflect?

Many issuers have come out with their own debt refinancing credit cards, so there’s no shortage of options compared to the Wells Fargo Reflect.

• If you prefer Citi: Citi® Diamond Preferred® Card cardholders enjoy a 0% introductory APR for new purchases for the first 12 months of account opening, and 0% introductory APR for 21 months from the date of the first transfer for balance transfers completed within the first four months of account opening. Note that there’s a balance transfer fee of either $5 or 5% of the amount of each transfer, whichever is greater. After the introduction period, there’s a 17.49%-27.24% variable APR based on your creditworthiness.
• If you prefer Bank of America: The BankAmericard® credit card also has no annual fee and a 0% introductory APR for 21 billing cycles for purchases and any balance transfers made in the first 60 days. After the introduction APR offer ends, a 15.49%-25.49% variable APR will apply. A 3% fee applies to all balance transfers. For more information, read our full review of the BankAmericard card.

For additional options, check out our full list of balance transfer credit cards.

Read more: 5 tips to make a successful balance transfer

Is the Wells Fargo Reflect worth it?

In short, it depends on what you're looking for in a card. If avoiding APR and reducing debt are your top priorities right now — instead of earning rewards and creating value — it could be a fit for you.

Bottom line

The Wells Fargo Reflect isn’t competing on the same level as top rewards cards such as The Platinum Card® from American Express or the Chase Sapphire Reserve. Instead, it’s for users who need a financing (or refinancing) offer before accruing credit card points and miles. With diligent, on-time payments, you’ll see your credit score rise, qualifying you for these travel rewards credit cards down the road.

Additional reporting by Ryan Wilcox.

Updated 02/28/2023