Wells Fargo Mirror Credit score Card Evaluation

I’m hardwired to not carry bank card balances. If I can’t afford it, I don’t cost it.

Often. Every now and then, I come throughout a 0% introductory APR provide that’s just too good to move up. Then I’ll break my rule, front-load purchases I might have remodeled a interval of many months, and pay them off regularly with out incurring any curiosity fees. 

For those who’re like me, you’ll wish to take a look at the Wells Fargo Mirror® Card. It’s one of the best new 0% APR bank card in latest reminiscence, with equal advantages for purchases and steadiness transfers. See if it’s value including to your bank card lineup.

What Is the Wells Fargo Mirror Card?

The Wells Fargo Mirror Card is a low-APR bank card with one of many longest 0% APR introductory promotions round: 18 months for positive, and three months longer whenever you make well timed, in-full funds throughout your first yr and three-quarters as a cardholder. That’s a complete of 21 months with no curiosity fees.

Key Options of the Wells Fargo Mirror Card

Past the lengthy 0% APR promotion, Mirror doesn’t have loads going for it. It has no rewards program, no sign-up bonus, few journey or buy advantages, and few different perks to tell apart it. However that’s virtually a part of its attraction. There’s completely no secret what it’s good for.

0% APR Introductory Promotion

The Wells Fargo Mirror Card fees no curiosity on purchases or steadiness transfers for at the least 18 months from account opening. Qualifying steadiness switch requests should be made inside 120 days of account opening. In any other case, variable common APR applies to these transfers.

Following the tip of the 0% APR introductory interval, variable common APR applies to all purchases and steadiness transfers until you qualify for the 0% APR interval extension.

0% APR Interval Extension

Qualifying for the 0% APR interval extension shouldn’t be too tough. For those who make on-time minimal funds through the preliminary 0% APR promotion interval and the extension interval, you earn a three-month extension of the 0% APR window.

That ends in a complete of 21 consecutive months of purchases and steadiness transfers at 0% APR.

Wells Fargo Reflect Extension With Banner Final

Following the tip of any extension interval you earn, variable common APR applies (for actual this time). Repay all of your fees or transfers in full earlier than the speed resets if you wish to keep away from curiosity. For those who don’t, you lose out on the promo and should pay all that curiosity you’d saved your self anyway.

Cellphone Safety

Wells Fargo Mirror comes with complimentary cellphone safety whenever you pay your eligible cellphone invoice in full with the cardboard every month.

There’s a profit cap of $600 per declare with a $25 deductible and not more than two paid claims per 12-month interval. However you must be fairly careless to wish three new telephones in 12 months.

Wells Fargo Offers

As a Mirror cardholder, you may reap the benefits of personalised cash-back rewards from quite a lot of collaborating retailers via My Wells Fargo Offers. Presents range, however you may look forward to finding the equal of 5% to 10% off purchases with well-liked nationwide chains, from eating places like Panera to automotive service companies like SpeeDee Oil Change.

Whereas this isn’t a daily cash-back rewards program and doesn’t promise a return on each buy, it’s a pleasant technique to scale back the web price of sure purchases made in your Mirror card.

Roadside Dispatch

Take pleasure in entry to a 24/7 roadside dispatch community that gives on-demand towing, lockout, and different roadside help in coated geographies. You’ll have to pay out of pocket for some or all providers, and their use isn’t limitless, however they’re good to have in a pinch.

Credit score Shut-Up

Enroll in Wells Fargo’s free Credit score Shut-Up program to see your FICO rating, get entry to your Experian credit score report, arrange personalised credit score alerts, and get custom-made suggestions to assist enhance your rating. Enrollment doesn’t have an effect on your credit score rating, so there’s no motive to not take this step.

Wells Fargo Reflect Credit Closeup

Vital Charges

Wells Fargo Mirror fees no annual charge. The overseas transaction charge is 3% of the entire transaction quantity for any worldwide transaction transformed to U.S. {dollars}.

In the course of the 120-day introductory steadiness switch window, the steadiness switch charge is 3% of the switch quantity (minimal $5). After that, the charge rises to five% of the switch quantity (minimal $5).

Credit score Required

This card requires to wonderful credit score rating. Vital blemishes in your credit score historical past that decrease your credit score rating may adversely have an effect on your utility.

Wells Fargo Reflect Card Credit Score

Benefits of the Wells Fargo Mirror Card

The Wells Fargo Mirror Card is among the higher 0% APR bank cards available on the market. Right here’s the place it shines.

  • Lengthy 0% APR Introductory Promotion. Wells Fargo Mirror has a really lengthy 0% rate of interest introductory promotion. It stretches for 18 months on each purchases and steadiness transfers, though you could make steadiness transfers inside 120 days of account opening to qualify.
  • Alternative to Lengthen the 0% Intro APR Promotion for Three Extra Months. Mirror’s three-month 0% APR extension interval pushes it into category-leading territory. Make on-time minimal funds through the preliminary and prolonged promotional durations and pay no curiosity on eligible massive purchases or steadiness transfers for 21 months (billing cycles) from account opening.
  • No Annual Price. Wells Fargo Mirror fees no annual charge. That’s simply as effectively as a result of it has no common rewards program to ship a dependable return on spending.
  • As much as $600 in Cellphone Safety Per Declare. Mirror gives complimentary cellphone safety protection whenever you pay your cellphone invoice in full together with your card. It’s value as much as $600 per declare and $1,200 per rolling 12-month interval, although there’s a $25 deductible per declare.
  • Customized Procuring Offers By way of My Wells Fargo Offers. My Wells Fargo Offers isn’t a correct cash-back rewards program, nevertheless it does ship a pleasant return on eligible purchases with well-known nationwide retailers.

Disadvantages of the Wells Fargo Mirror Card

Wells Fargo Mirror has some vital downsides, like no rewards program or sign-up bonus for brand spanking new account holders.

  • No Common Rewards Program. Wells Fargo Mirror doesn’t have a daily rewards program. That’s a downside compared to cash-back bank cards with related 0% APR introductory gives, just like the Citi Customized Money Card.
  • No Signal-Up Bonus. Wells Fargo Mirror doesn’t have a sign-up bonus for brand spanking new account holders both. It’s a must to make do with the admittedly beneficiant 0% APR introductory promotion.
  • Comparatively Excessive Steadiness Switch Price. After a 120-day interval throughout which the steadiness switch charge is the higher of three% or $5, the charge rises to account for as a lot as 5% of the switch quantity (minimal $5). That’s a bit expensive for a card that rightly touts its lengthy 0% APR introductory promotion.
  • 3% International Transaction Price. Wells Fargo Mirror levies a 3% surcharge on overseas transactions. For those who routinely journey exterior the U.S. or patronize abroad retailers that cost patrons within the service provider’s native forex, use one other card.

How the Wells Fargo Mirror Card Stacks Up

The Wells Fargo Mirror Card is an above-average low-APR bank card, nevertheless it doesn’t have the area to itself. Right here’s the way it stacks as much as the Chase Slate Edge Card, a well-liked competitor with related advantages.

Wells Fargo Mirror Chase Slate Edge
0% APR Interval As much as 21 months complete 18 months
Applies To Purchases and steadiness transfers Purchases and steadiness transfers
Annual Price $0 $0
Credit score Required Good to wonderful Good to wonderful
Rewards None None

Different Options to Contemplate

Earlier than you apply for the Mirror Card — or Chase Slate Edge, for that matter — contemplate these alternate options. Every has at the least one energy not shared by Mirror.

Remaining Phrase

For those who’re severely contemplating making use of for the Wells Fargo Mirror® Card, you’re most definitely after a really lengthy 0% intro APR provide on one in all two issues: purchases or steadiness transfers.

This card doesn’t have many secrets and techniques, in any case. However that’s OK — it’s among the many greatest bank cards for doing what it does, which is decreasing the price of bank card financing. For those who’re looking for a beneficiant rewards program or luxe journey perks, look elsewhere. In any other case, you’re in the proper place.

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