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Wells Fargo Reflect Card: How to Earn an Extension on the Intro Balance Transfer Promotion

This is one of the best balance transfer cards available if you make your payments on time.

The Wells Fargo Reflect℠ Card offers a very long introductory APR, making it a great choice if you're looking to finance a large purchase or transfer a balance from a card with a high APR. In order to take full advantage of this card's power, you need to make all your minimum payments on time.

Through the promotional offer, you'll get 18 months from account opening of 0% introductory APR on both purchases and qualifying balance transfers. And if you're eligible, you can get up to a three-month extension by making on-time minimum payments during the intro and extension periods -- that's a total of up to 21 months from account opening of 0% introductory APR (then 14.49% to 26.49% variable APR thereafter). There is no annual fee with this card, so by using it responsibly you can continue to build your credit even after the promotional APR period is over. 

The Wells Fargo Reflect Card is quite specialized: If you're looking for cash back or travel rewards -- or your credit isn't great -- you'll have to look elsewhere. Read on to learn more about the details surrounding the intro APR and balance transfers, as well as some recommendations for supplementary cards and potential substitutes.

In this article

Wells Fargo Reflect℠ Card

See Rates and Fees
Card Highlights
Intro OfferN/A
APR14.49%-26.49% Variable APR
Intro Purchase APR0% intro APR for up to 21 months from account opening
Recommended Credit Excellent, Good
Reward RatesN/A
Annual Fee$0
Additional Details
Intro Balance Transfer APR0% intro APR for up to 21 months from account opening on qualifying balance transfers
Balance Transfer APR14.49%-26.49% Variable APR
Balance Transfer Fee up to 5%; min: $5
Foreign Transaction Fees 3%
Penalty APR None

Introductory APR on purchases

With the base 0% introductory APR offer on purchases at 18 months from account opening, this card is one of the best on the market in that category. Any purchase you make in the first 18 months will have no interest applied as long as you pay the minimum monthly payments on time. Making the minimum payments each month (during the intro and extension periods) also lets you qualify for the up to three-month extension on the introductory APR.

Just keep one thing in mind. Whether you get 18 months or 21 months from account opening of the introductory APR, at the end of the promotional period your APR will then hike up to 14.49% to 26.49% variable. That means it's best if you plan to pay off your balance in full by the end of the promotional APR period so you don't rack up any interest. You can do this as a balloon payment at the tail end of the promotion, as equal monthly payments or anything in between -- as long as you're hitting that monthly minimum payment along the way.

Making a balance transfer

You also get a 0% introductory APR on qualifying balance transfers for the first 18 months from account opening -- with the same opportunity for up to a three month extension when you make all your minimum payments on time during the intro and extension periods (14.49% to 26.49% variable APR thereafter). Making a balance transfer onto such a card is a great way to consolidate your debt and save on interest charges.

To qualify for the introductory APR on your qualifying balance transfers to the Wells Fargo Reflect Card, you'll have to request the balance transfer within 120 days of account opening.

You're best off initiating a balance transfer request as soon as you get your card, because the promotional clock starts ticking when your account opens. For instance, if you wait three months to initiate your balance transfer, you'll only get the remaining 15 months of introductory APR (plus the opportunity for the extension mentioned above).

As for the balance transfer fee, it's pretty standard for the industry: introductory 3% on balance transfers with a $5 minimum, for any balance transfers made within 120 days of account opening. But after 120 days, that fee shoots up to 5% ($5 minimum), which is one of the highest balance transfer fees around. The bottom line: If you're getting this card specifically to make a balance transfer and temporarily escape a higher interest card, only apply for it once you're ready to make the transfer.

Other perks

There aren't many other perks with this card -- its strength is the introductory APR. 

There are, however, a few small benefits that may be of interest to some. You'll get up to $600 in cell phone protection -- that is, reimbursement in the case of damage or theft to the phone -- if you pay your cell phone bill with this card. (There is a $25 deductible.)

Another perk is the "My Wells Fargo Deals" you can opt for via your account. Select merchants may offer special deals for Wells Fargo credit card users, like cash-back promotions (in the form of a statement credit). These deals will all be subject to their own terms and expiration dates.

Comparable cards

Wells Fargo Active Cash® Card

Many credit cards with introductory APRs on purchases also allow you to earn rewards on those transactions. While the Wells Fargo Active Cash Card has a considerably shorter introductory APR period, the 2% cash rewards on purchases is likely to sway many shoppers. The welcome bonus is another perk -- you can earn a $200 cash rewards bonus when you spend $1,000 in purchases within the first three months.

Check out our full review of the Wells Fargo Active Cash Card for more details.

Citi® Diamond Preferred® Card

The Citi Diamond Preferred card also offers one of the longest introductory APRs -- on balance transfers, at least. You get an introductory 0% APR on balance transfers for 21 months from the date of first transfer, while you get a less-impressive 0% introductory APR on purchases for 12 months from the date of account opening (15.24% to 25.24% variable APR, thereafter). Balance transfers must be completed within four months of account opening. However, you will incur a 5% balance transfer fee with a $5 minimum on all balance transfers with this card, regardless of when you make the transfer.

See more details in our full review of the Citi Diamond Preferred Card.


What is an introductory APR?

The introductory APR is the annual percentage rate applied toward your balance (including balance transfers and purchases in most cases) for the first 6 to 21 months of card ownership, depending on the card. The standard APR is the annual percentage rate applied toward your balance after the introductory period ends. The penalty APR is applied toward your balance if you miss more than one payment in six months usually, but it depends on the individual card and your card issuer.

How long will it take to complete a balance transfer?

It may take anywhere between 10 days and six weeks to complete a balance transfer, after receiving your new card and cardholder agreement. It's also important to note that some card issuers, such as Citi, make balance transfers available at their discretion, and could therefore decline a transfer request. And you should probably still pay the minimum on the old card's balance until you've confirmed that the transfer was completed, so you don't run the risk of fees or penalties.

If I still have a balance after the introductory APR period is over, can I just keep transferring my debt to a new balance transfer card?

Technically, yes. In some cases, transferring your balance two or three times might even be what's necessary to finally pay off your debt. But unless you have a firm understanding of how you got into debt in the first place and a plan for getting out of debt, you won't be working toward a solution. 

While transferring your remaining debt to a second balance transfer card may allow you to pay off your balance without monthly interest or a fee, it's important to note that there are too many variables for multiple balance transfers to be a failure-proof debt strategy. 

For example, your card application could be denied, your credit limit could be much lower than you anticipated or your transfer request could be denied. Credit card offers could also change, making it difficult to plan ahead. For this reason I recommend selecting a card that allows you to pay off the full balance after one cycle if possible.

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