No rewards: limited value outside the APR introduction
The biggest disadvantage with this card is that it does not provide any type of reward program. This means:
- There is no welcome reward. View some credit cards We welcome bonuses worth $ 200 or more For new card holders.
- There are no purchase rewards. Other cards earn Cash rewards Or points on all your qualified purchases, which can add over time. It is possible to earn $ 500 or more every year in rewards in this way, depending on the amount you spend.
In order to be fair, this card contains special offers through my Wells Fargo deals, where you can earn cash statement credits to shop and eat and experience that you pay with the qualified Wells Fargo card. But earn some statement of the statement here and there is almost no value, such as obtaining cash rewards on all your daily purchases.
Because there are no rewards, this card has no long -term value. Once the introduction of 0 % has ended, there is no incentive to continue using it. It is better to turn into a Credit card At that point.
It should be noted that there are 0 % APR credit cards that also contain bonus programs. They only have a shorter introduction period 0 % APR. If you do not need 21 full months of opening a Wells Fargo account, it may make sense to choose a card with a shorter introduction period that earns bonuses.
Founded fees on balance -out transfers and transactions
The Wells Fargo Reflect® Card is a great balance transmission card due to the APR introduction by 0 %. But it also has a file Balance transfer fees From 5 %, minute: $ 5.
Balance transportation cards usually have a fee like this, but some receive only 3 %. It may not seem much, but if you are transporting $ 5,000, This team is 2 % will cost you an additional $ 100. If you do not need 21 months of opening the account to get out of the debt, you may want to look at more Credit card reviews And choose a card with lower balance transfer fees.
There too Foreign treatment fees From 3 %This is another reason for the lack of the best long -term use card. If you travel outside the United States ever, it is important that you have a card that you can use without any additional fees, such as a Travel credit card
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