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

Oct. 07, 2021
5 min read
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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 complimentary 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.

The information for the Wells Fargo Reflect Card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

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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 APR for 18 months from account opening on purchases and qualifying balance transfers (then a variable APR of 15.24%-27.24% applies) — with the potential to extend this period (for three months) by making on-time minimum payments during the intro period.

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

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Who is this card for?

Before anyone starts to accrue points and miles, it's essential to ensure that you don't collect credit card debt that will negate the value of any benefits from the card. And of course, carrying a balance month to month will subject you to high interest rates and hurt your credit score.

While it seems counterintuitive to open another credit card, the Wells Fargo Reflect comes with a lengthy introductory APR offer of 18 months from account opening that will help you not incur those pesky interest fees.

Sign-up bonus

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

Main perks and benefits

As mentioned above, the main draw of opening this card is for 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 intro 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 — the longest we've seen among most credit cards.

You can also enjoy 0% intro APR on qualifying balance transfers made within the first 120 days for those with existing debt (then a variable APR of 15.24% - 27.24% 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 cell phone protection when you pay your monthly cell phone bill with your card (subject to a $25 deductible). Monthly cell phone 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.

First up, we have the BankAmericard® credit card by Bank of America. Also, with no annual fee, and 0% Introductory APR for 21 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 14.99% - 24.99% Variable APR will apply. A 3% fee (min $10) applies to all balance transfers.

(Photo by John Gribben for The Points Guy)

While still a great offer worth considering, the introductory APR period is 21 billing cycles for balance transfers — and the minimum fee of $10 is higher. Plus, there's no opportunity for extension, unlike with the Wells Fargo Reflect.

Another comparable option is the Citi® Diamond Preferred® Card. Cardholders will 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 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 intro period, there's a 16.74% to 26.74% variable APR based on your creditworthiness.

(Photo by John Gribben for The Points Guy)

There's also no annual fee, though your ongoing interest rate may be slightly higher than of the Wells Fargo Reflect. And, there's no cell phone protection — or any competing benefit, for that matter.

Bottom line

The Wells Fargo Reflect isn't competing on the same level as top 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 top credit cards down the road.

Updated on 10/3/22.

Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

TPG featured card

Best starter travel card
TPG Editor‘s Rating
Card Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer.
4 / 5
Go to review

Rewards

1 - 3X points
3XEarn 3 Points per $1 spent at Restaurants and Supermarkets
3XEarn 3 Points per $1 spent at Gas Stations, Air Travel and Hotels
1XEarn 1 Point per $1 spent on all other purchases

Intro offer

Earn 80,000 ThankYou® points60,000 points
For a limited time, earn 80,000 bonus ThankYou® Points after you spend $4,000 in purchases within the first 3 months of account opening

Annual Fee

$95

Recommended Credit

670-850
Excellent, Good
Credit ranges are a variation of FICO© Score 8, one of many types of credit scores lenders may use when considering your credit card application.

Why We Chose It

The Citi Premier’s 3 points per dollar spent across a wide range of popular categories is one of the more lucrative offerings in the world of points and miles. The Citi Premier comes with a $95 annual fee and is currently offering a solid sign up bonus of 80,000 points after you spend $4,000 on purchases within the first three months. It also has some valuable transfer partners to make the most of your rewards. Add in access to Citi Entertainment plus a $100 hotel credit for any single-stay hotel booking that exceeds $500 or more, excluding taxes and fees, booked through the Citi travel website, there are few reasons why the Citi Premier should not be in every traveler’s wallet.

Pros

  • Earns 3x points on restaurants, supermarkets, gas stations, air travel and hotels.
  • $100 annual hotel savings benefit (on single hotel stay bookings of $500 or more, excluding taxes and fees, booked through thankyou.com)
  • Points transfer to 16 airline programs, from JetBlue to Virgin Atlantic.
  • World Elite Mastercard benefits, extended warranty, damage and theft protection.

Cons

  • $95 annual fee
  • Lacks travel protections that other travel rewards cards come with
  • For a limited time, earn 80,000 bonus ThankYou® Points after you spend $4,000 in purchases within the first 3 months of account opening
  • Earn 3 Points per $1 spent at Restaurants and Supermarkets
  • Earn 3 Points per $1 spent at Gas Stations, Air Travel and Hotels
  • Earn 1 Point per $1 spent on all other purchases
  • Annual Hotel Savings Benefit
  • 80,000 Points are redeemable for $800 in gift cards when redeemed at thankyou.com
  • No expiration and no limit to the amount of points you can earn with this card
  • No Foreign Transaction Fees on purchases
Best starter travel card
TPG Editor‘s Rating
Card Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer.
4 / 5
Go to review

Rewards Rate

3XEarn 3 Points per $1 spent at Restaurants and Supermarkets
3XEarn 3 Points per $1 spent at Gas Stations, Air Travel and Hotels
1XEarn 1 Point per $1 spent on all other purchases
  • Intro Offer
    For a limited time, earn 80,000 bonus ThankYou® Points after you spend $4,000 in purchases within the first 3 months of account opening

    Earn 80,000 ThankYou® points
    60,000 points
  • Annual Fee

    $95
  • Recommended Credit
    Credit ranges are a variation of FICO© Score 8, one of many types of credit scores lenders may use when considering your credit card application.

    670-850
    Excellent, Good

Why We Chose It

The Citi Premier’s 3 points per dollar spent across a wide range of popular categories is one of the more lucrative offerings in the world of points and miles. The Citi Premier comes with a $95 annual fee and is currently offering a solid sign up bonus of 80,000 points after you spend $4,000 on purchases within the first three months. It also has some valuable transfer partners to make the most of your rewards. Add in access to Citi Entertainment plus a $100 hotel credit for any single-stay hotel booking that exceeds $500 or more, excluding taxes and fees, booked through the Citi travel website, there are few reasons why the Citi Premier should not be in every traveler’s wallet.

Pros

  • Earns 3x points on restaurants, supermarkets, gas stations, air travel and hotels.
  • $100 annual hotel savings benefit (on single hotel stay bookings of $500 or more, excluding taxes and fees, booked through thankyou.com)
  • Points transfer to 16 airline programs, from JetBlue to Virgin Atlantic.
  • World Elite Mastercard benefits, extended warranty, damage and theft protection.

Cons

  • $95 annual fee
  • Lacks travel protections that other travel rewards cards come with
  • For a limited time, earn 80,000 bonus ThankYou® Points after you spend $4,000 in purchases within the first 3 months of account opening
  • Earn 3 Points per $1 spent at Restaurants and Supermarkets
  • Earn 3 Points per $1 spent at Gas Stations, Air Travel and Hotels
  • Earn 1 Point per $1 spent on all other purchases
  • Annual Hotel Savings Benefit
  • 80,000 Points are redeemable for $800 in gift cards when redeemed at thankyou.com
  • No expiration and no limit to the amount of points you can earn with this card
  • No Foreign Transaction Fees on purchases