Check out this breakdown via the CreditCards.com balance transfer calculator, which uses the Double Cash cards minimum and maximum variable APRs to demonstrate this: As you can see, while your savings will vary considerably based on the size of your balance and your monthly contribution, you dont need to get a dedicated balance transfer card to come out on top. Wachovia, Stephen Sanger Well use the last four digits of your Social Security number to get your approval odds. Thats four fewer stress-filled months and a savings of nearly $850. All Rights Reserved. This wont impact your credit score. Privacy Policy. When you click See my approval odds well run a soft credit check to determine if you have Excellent, Good, Low, or Poor odds of being approved for cards on our site. I understand that this is not an application for credit and that, if I wish to apply for a credit card with any participating credit card issuer, I will need to click through to complete and submit an application directly with that issuer. If you want to get a better sense of your approval odds before you apply, you can check if youre prequalified for the Reflect card at the issuers site or using the CreditCards.com CardMatch tool. Though youll generally need to sacrifice a few months worth of promotional APR, you may be better off opting for a card that offers both an intro APR and rewards to ensure your card is worth keeping even after youve paid off your balance. Tip: While it cant quite match the up to 21 months of 0% intro APR offered by the Reflect card, the U.S. Bank Visa Platinum Card comes close, offering all qualifying cardholders a 0% intro APR on balance transfers for 20 billing cycles, followed by a 15.99% to 25.99% variable APR. Wells Fargo is the second-largest bank in deposits, home mortgage servicing, and debit cards. Here are yourmember login instructions. Bank of North America First Interstate Bancorp In 2015, the company was ranked the 22nd most admired company in the world, and the 7th most respected company in the world. Not only will you earn outsized rewards in a wide variety of quarterly rotating categories, but youll also get all the cash back youve earned matched at the end of your first year. personalising content and ads, providing social media features and to Here are some of the biggest advantages the card offers and what may make the card a good fit for you. Depending on your credit profile, youre assigned a variable APR between 14.49% and 26.49%. Copyright 2022 CreditCards.com a Red Ventures Company. Wells Fargo & Company is a diversified financial services company, providing banking, insurance, investments, mortgage and consumer and commercial finance through more than 9,000 stores and 12,000 ATMs and the internet (wellsfargo.com and wachovia.com) across North American and internationally. Wells Fargo surpassed Citigroup Inc. to become the third-largest U.S. bank by assets at the end of 2015. Wells Fargo & Company is an American international banking and financial services holding company headquartered in San Francisco, California, with "hubquarters" throughout the country. Scores higher than 0 are typically considered to be good and scores above 50 are considered to be excellent. Net Promoter Score is a number from -100 from 100. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. 0% for up to 21 months from account opening, Regular APR The offers that appear on this site are from companies from which CreditCards.com receives compensation. Last four digits of your Social Security number, J. D. Power 2020 customer satisfaction rating, What to do if youre denied for a balance transfer card, $120 balance transfer fee (if transferred in first 120 days), $200 per month for 21 months (12 months at 0% APR, 9monthsat 5.99% variable APR), $200 per month for 21 months (12 months at 0% APR, 9 months at 18% variable APR), $200 per month for 21 months (18 months at 0% APR, 3 months at 15.49% variable APR), $200 per month for 21 months (18 months at 0% APR, 3 months at 25.49% variable APR), Intro 3% or minimum $5 within the first 120 days of account opening, Up to 5% or minimum $5 afterward (whichever is greater), Google Play Store mobile app rating: 4.7/5, Enroll every quarter to earn 5% cash back on up to $1,500 in purchases in various categories throughout the year, Discover will match all the cash back youve earned at the end of your first year, No penalty for first late payment (up to $41 late payment fee thereafter), Balance transfer fee of $10 or 3% (whichever is higher), Can earn $100 statement credit online bonus after spending at least $1,000 in purchases within the first 90 days, Sign-up bonus of $200 cash rewards after you spend $1,000 on purchases in the first 3 months, Well run a soft credit pull, which wont impact your credit score, Youll see your estimated approval odds near cards to help you narrow down your options. What is extremely useful though, is using the NPS methodology to track the satisfaction of your customers over time. The offers that appear on this site are from companies from which CreditCards.com receives compensation. Fargo Moorhead West Fargo Chamber of Commerce, 202 First Ave N; Moorhead, MN 56560,Fargo, ND 58108-2443. Boasting one of the longest intro APR periods on the market, the Wells Fargo Reflect card could be a life-saver if youre ready to chip away at high-interest debt. Along with its generous intro APR offer on balance transfers, the card features a matching intro APR offer on new purchases: 0% for 18 months to start, plus up to three additional months if you make on-time minimum payments during your intro and extension periods, for a total of up to 21 months of 0% APR (14.49% to 26.49% variable APR thereafter). Timothy J. Sloan 
Therefore, comparing the NPS score of Wells Fargo & Company with your own without any further context is not that useful. CreditCards.com does not include the entire universe of available financial or credit offers.CCDC has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. 0% Introductory Period EDITORIAL DISCLOSURE All reviews are prepared by CreditCards.com staff. Your email address unlocks your approval odds. While it may be a lifesaver if youre looking for as much breathing room as possible while you tackle debt, the card will likely end up collecting dust once your intro period comes to an end. Edited by: That said, if you think you can manage with a slightly shorter promotional period or make do with only a long intro APR on balance transfers or new purchases not both you will likely get more long-term use and squeeze greater savings overall out of a no annual fee rewards card. Here are a few alternatives worth considering: 18 billing cycles (for balance transfers made within 60 days of opening account), 15 months from account opening (for qualifying balance transfers made within the first 120 days). Do you have more accurate data? Thats a spending threshold that could be easily and responsibly reached just by using the card for everyday staples like groceries and gas. 
That said, if you dont need to transfer a balance and can make do with a shorter intro purchase APR period, you should be able to find a cash back or rewards card that not only gives you an intro purchase APR but also offers rewards on your purchases, saving you even more. In contrast, several cash back and rewards cards offer an intro APR on balance transfers or purchases in addition to ongoing rewards, allowing you to save not only on interest but also on most or all your everyday spending. Copyright 2022 Fargo Moorhead West Fargo Chamber of Commerce. Elizabeth Duke CreditCards.com credit ranges are derived from FICO Score 8, which is one of many different types of credit scores. While youll want to focus on paying down debt initially, this cards versatility could make it a smarter long-term option than the Reflect card, especially for people who get a kick out of strategizing over when and where to buy to maximize their savings. This only requires a soft pull of your credit report and has no impact on your credit score until you submit a formal application. As of October 2015, the company had a credit rating of AA. In July 2015, Wells Fargo became the world's largest bank by market capitalization, edging past ICBC, before slipping behind JP Morgan Chase in September 2016, in the wake of a scandal involving the creation of over 2 million fake bank accounts by thousands of Wells Fargo employees. If you work for a business that has invested in a Chamber membership, that means you as an individual are also a member. This makes the card an ideal fit if youre laser-focused on paying off your balance and simply need the time and space to do so. Whether youre looking to chip away at credit card debt with a balance transfer card or get some wiggle room as you pay off new purchases, the Wells Fargo Reflect Card should be a terrific fit. In 2016, Wells Fargo ranked 7th on the Forbes Magazine Global 2000 list of largest public companies in the world and ranked 27th on the Fortune 500 list of largest companies in the United States. Promoting a vibrant and prosperous business community. Antonio Ruiz-Camacho. The information, including card rates and fees, presented in the review is accurate as of the date of the review. If you chipped away at this debt with a $200 monthly payment, it would take you 25 months and cost you $966 in interest to pay off. The final Net Promoter Score of a company strongly depends on a context in which the satisfaction is measured. You can earn a $100 statement credit online bonus after spending at least $1,000 in purchases within the first 90 days of opening your account. As long as you pay off your balance in full by the end of the promotional period, you wont be charged any interest and even if you dont quite clear your balance, youll only pay interest on the amount that remains at the end of the promotional period. Norwest Corporation Of course, you should create a debt payoff plan before you get started and will need to pay more than the minimum if you want to clear your balance before the end of the promotional period. Like most cards that carry a balance transfer offer, the Wells Fargo Reflect card requires a good to excellent credit score for approval (a FICO score of 670 or higher). See related: How to transfer a credit card balance. Italy loses Mario Draghi at perilous moment, Why Xi Jinping changed tack in his crackdown on Didi, Why an executive coach is now a must-have for CEOs, Why ending favouritism is the key to building a diverse workforce, Corinne Le Qur: Could we just adapt to climate change? (President and CEO), March18, 1852; 165 years ago(1852-03-18) Though no fee-hike after 120 days would be ideal, many cards start you out with a 5% balance transfer fee, so the Reflect cards 3% fee and transfer window are reasonable. NPS is a customer loyalty metric that measures customers willingness to not only return for another purchase or service but also make a recommendation to their family, friends or colleagues.
And though these cards will almost certainly feature a shorter promotional APR period, the value offered by a rewards program could easily outweigh the savings youd get from a few extra months of 0% APR. This compensation may impact how and where products appear on this site, including, for example, the order in which they appear within listing categories. One of the best flat-rate cash back cards on the market, the Wells Fargo Active Cash Card offers tremendous short- and long-term value thanks to its ongoing rewards rate and sign-up bonus, as well as an intro APR on both purchases and qualifying balance transfers made within the first 120 days. That will put the card out of reach if you are hoping to do a balance transfer with poor credit. Report incorrect information. Other factors, such as our proprietary website's rules and the likelihood of applicants' credit approval also impact how and where products appear on the site. Were sorry, but something went wrong and we couldnt find your approval odds. 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The industry average for Financial Services / Banking is 18. All reviews are prepared by CreditCards.com staff. It is a powerful and effective technique, which can greatly increase a company's revenue if used properly. Since the Reflect card carries no rewards program, you wont have much incentive to keep using it after you take advantage of its introductory APR offers. Site provided by GrowthZone - powered by ChamberMaster software. While youll need to shell out an annual fee to enjoy the best credit card perks, some no annual fee rewards or cash back cards including the likes of the Chase Freedom Unlimited, U.S. Bank Altitude Go and Citi Custom Cash Card come with intro APR offers as well as useful extras like complimentary food delivery subscriptions, streaming service or ride-share credits and more. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within listing categories. Check the data at the top of this page and the bank's website for the most current information. to maintain accurate information. What happened to growing old disgracefully? By clicking "See my odds" you agree to our Terms of Use (including our Prequalification Terms) and Privacy Policy. Though, like the Reflect card, the BankAmericard credit card is primarily a balance transfer card with few ongoing perks and benefits, it features a chance at a unique one-time cash bonus that could help you minimize the cost of your balance transfer and potentially offset the cost of your balance transfer fee entirely. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. 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Luckily, the Reflect card keeps costs fairly low, featuring no annual fee, a generous low-end APR and a relatively low balance transfer fee if you transfer early. The Reflect card also offers a fair range of APRs after your introductory APR period ends. Other factors, such as our own proprietary website rules and the likelihood of applicants' credit approval also impact how and where products appear on this site. To get a sense of just how valuable such a long intro APR period can be if you have significant debt hanging over you, lets say you had a $4,000 balance on one of your credit cards with a 21% APR. Approval Odds serves as a guide to help you find the right credit card and will never affect your credit score. If youre trying to save on interest as you pay off debt or finance purchases, the last thing you need is a slew of additional fees piled on top of what you already owe. Gain a global perspective on the US and go beyond with curated news and analysis from 600 Such benefits shouldnt be your top priority when your focus is paying off debt, but they can certainly help a card keep its value longer. Though its far from the flashiest or most lucrative balance transfer card out there, the Wells Fargo Reflect Card scores major points where it counts: its introductory APR offer. New York City, New York, United States, NYSE:WFC If youre willing to trade a few months worth of intro APR for perks like a rewards program or a one-time cash bonus, you may save money in both the short and long term. http://banks.credio.com/stories/4366/2015-u-s-banking-satisfaction-report#1-Current-Customer-Satisfaction-Levels, http://www.businesswire.com/news/home/20141106005140/en/Wells-Fargo-Shareowner-Services-Rated-Industry%E2%80%99s-Top, Asset management, brokerage services, commercial banking, commodities, consumer banking, corporate banking, credit cards, consumer finance, equities trading, finance and insurance, foreign currency exchange, foreign exchange trading, futures and options trading, insurance, investment banking, investment management, money market trading, mortgage loans, prime brokerage, private banking, retail banking, retail brokerage, risk management, treasury and security services, underwriting, wealth management, Crocker National Bank However, all credit card information is presented without warranty. All Rights Reserved. Whether and how much debt youre able to transfer will depend on your credit profile and assigned limit. See related: How to choose a 0% APR credit card. To get a sense of the best path forward for you, you can compare the Reflect card with one of the few no balance transfer fee cards currently on the market, the Navy Federal Credit Union Platinum card, which offers a 0% intro APR on balance transfers for 12 months and a variable APR of 5.99% to 18% after that. These terms allow CreditCards.com to use your consumer report information, including credit score, for internal business purposes, such as improving the website experience and to market other products and services to you. Search your company name in ourBusiness Directoryto find out! The Reflect card features one of the longest intro APR offers on the market, but that doesnt mean its the best balance transfer card for you. the "Apply Now" button, you can review the credit card terms and conditions on the issuer's web site. When you click on Then $69 per monthNew customers onlyCancel anytime during your trial. As long as you make your payments on time during the intro and extension periods, youll enjoy one of the longest promotional periods on the market and get plenty of breathing room as you tackle debt or finance purchases.