Wells Fargo Reflect Card offers up to 21 months of 0% intro APR

Wells Fargo has launched a bank card that provides new cardholders a very spectacular interest-free interval: probably almost two years. The cardboard is a doable financing device for vacation customers whose spending might outstrip their potential to pay straight away.

The Wells Fargo Mirror℠ Card, which started taking purposes Oct. 1, 2021, has an annual price of $0 and gives a 0% intro APR for 18 months from account opening on and qualifying steadiness transfers. However Wells Fargo may even reward good monetary habits. That intro APR might be prolonged for 3 extra months in case you make minimal funds on time through the intro and extension intervals (12.99% to 24.99% variable APR thereafter).

That’s a possible 21 months of 0% curiosity — among the many longest you’ll discover available on the market.

Notably, that promotional provide applies to each new purchases and  inside the first 120 days, from non-Wells Fargo bank cards. Nevertheless, it prices a steadiness switch price throughout that introductory interval of $5 or 3% of the quantity of every steadiness switch, whichever is larger. After that, the steadiness switch price is 5% of the quantity transferred, with a minimal price of $5.

The cardboard additionally gives cellular phone safety when prospects pay their month-to-month cellular phone invoice with their Wells Fargo Mirror℠ Card.

The cardboard earns no rewards for spending. However like different eligible Wells Fargo credit score and debit playing cards, it offers cardholders entry to My Wells Fargo Offers, the place they’ll earn money again within the type of a press release credit score on eligible procuring, eating or experiences. Cardmembers simply must activate a given deal on-line and use their Wells Fargo Mirror℠ Card to make the acquisition.

The Wells Fargo Mirror℠ Card instantly turns into a prime contender out there for . Its potential for a 21-month introductory interest-free time period is tough to seek out, making the brand new card a compelling selection in a aggressive sector of the bank card market.

“These proceed to be unsure occasions for customers, so we need to present easy, dependable instruments to assist them take management of their funds,” stated Krista Phillips, head of branded playing cards and advertising for Wells Fargo Credit score Playing cards, in a information launch. “Our prospects know what works and what doesn’t work for them, and we’re happy to supply a strategy to get a break from curiosity to allow them to plan for the longer term or repay previous bills with a low, on a regular basis APR, even after the introductory interval ends.”

A possible knock on the cardboard is that it carries a of three% of the acquisition value. That makes it a poor selection for making purchases overseas. Nevertheless, a number of of its direct opponents additionally cost a overseas transaction price.

The Wells Fargo Mirror℠ Card is the second in a brand new lineup of Visa playing cards the financial institution might be providing because it makes a brand new push into the bank cards enterprise.

In June, Wells Fargo introduced probably the most compelling flat-rate bank cards available on the market: The . Cardmembers get 2% money again on all purchases, a pleasant sign-up bonus and . The annual price is .