The Wells Fargo Reflect® Card can help you save on credit card interest charges thanks to its top-tier intro APR offer on purchases and qualifying balance transfers. But before you can take advantage of this card's money-saving features, you'll need to get approved for it.
Below, CNBC Select uncovers the credit score requirement for the Wells Fargo Reflect® Card.
The Wells Fargo Reflect® Card is one of the absolute best cards you can apply for if you want to save on interest and pay down debit quickly thanks to its extra generous intro-APR offer on purchases and qualifying balance transfers.
- Incredible intro-APR for purchases and qualifying balance transfers
- No annual fee
- Cell phone insurance: up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible
- No rewards
- No welcome bonus
- High balance transfer fee
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- Apply Now to take advantage of this offer and learn more about product features, terms and conditions.
- 0% intro APR for 21 months from account opening on purchases and qualifying balance transfers. 17.74%, 24.24%, or 28.49% variable APR thereafter; balance transfers made within 120 days qualify for the intro rate, BT fee of 5%, min: $5.
- $0 annual fee.
- Up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible.
- Through My Wells Fargo Deals, you can get access to personalized deals from a variety of merchants. It's an easy way to earn cash back as an account credit when you shop, dine, or enjoy an experience simply by using an eligible Wells Fargo credit card.
Balance transfer fee
5%, min: $5
Foreign transaction fee
3%
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Wells Fargo Reflect 0% APR offer
With a new Wells Fargo Reflect® Card, you'll receive a 21-month 0% intro APR from the date the account is opened on purchases and qualifying balance transfers. A variable APR of 17.74%, 24.24%, or 28.49% will apply once the intro APR ends. Balance transfers made within 120 days qualify for the intro rate, BT fee of 5%, min: $5.
You'll also have access to other perks, such as roadside dispatch and cell phone protection. The cell phone coverage provides up to $600 per claim against theft or damage ($25 deductible; maximum two claims every 12 months).
While the Reflect Card doesn't earn rewards, if you have credit card debt or need to finance a big purchase, what you can potentially save on interest can outweigh the lack of rewards.
The average credit card APR is roughly 22% for accounts accessed interest, according to the Federal Reserve. If you have a $10,000 credit card balance you plan on paying over 21 months, this card's intro APR would save you over $2,100 in interest. Keep in mind that the balance transfer fee would be $500 and reduce your savings to around $1,700.
Credit score needed for the Wells Fargo Reflect
Wells Fargo doesn't officially publish a credit score requirement for the Reflect Card. However, you'll usually need at least a good to excellent score to have the best approval odds.
There are a few different credit scoring models, including VantageScore and FICO® Score. Both scores range from 300 to 850 and are based on your credit reports from the three major credit reporting bureaus: Experian, Equifax and TransUnion.
The range for a credit score varies depending on the specific scoring model and it is typically based on the following factors: Payment history, amounts owed, length of credit history, new credit and credit mix.
Credit scores are typically categorized from very poor to excellent. As an example, FICO Scores fall into the following categories:
- Very poor: 300 to 579
- Fair: 580 to 669
- Good: 670 to 739
- Very good: 740 to 799
- Excellent: 800 to 850
What to do if you aren't approved for the Wells Fargo Reflect
The Wells Fargo Reflect® Card requires a healthy credit score and unfortunately, most of the best intro-APR cards and balance transfer cards also have higher credit score requirements. If you need to improve your credit, you may want to consider a card like the Chase Freedom Rise® (see rates and fees).
The Freedom Rise is available to those with limited to fair credit, and it even earns rewards: 1.5% cash back on every purchase. While it doesn't offer an intro APR, it's higher-tier counterpart — the Chase Freedom Unlimited® (see rates and fees) — does. You may have the opportunity to upgrade to this card after 12 months of responsible card use.
The Chase Freedom Rise® is one of the most rewarding cards that's available if you're new to credit.
- No credit history required
- Above average flat-rate rewards
- No annual fee
- Small welcome offer
- Has a foreign transaction fee
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- Increase your approval chances - Having a Chase checking or savings account with a balance of at least $250 will increase your chances of getting approved for Chase Freedom Rise®
- Earn Cash Back - With Chase Freedom Rise®, you can establish credit while earning 1.5% cash back on all purchases. Cash Back rewards do not expire as long as your account is open and there is no minimum to redeem for cash back.
- Earn a $25 statement credit after signing up for automatic payments within the first three months of opening your account. With automatic payments, just pick a date and dollar amount to make sure your Credit Card gets paid on time.
- Credit Limit Increase - As a Freedom Rise® cardmember, you'll be evaluated for a credit line increase in as soon as 6 months. Your credit line is the maximum amount of money you can spend on your Freedom Rise® Card
- Free Credit Score - Track your credit score and learn how to build it with Chase Credit Journey.
- No Annual Fee - You won't have to pay an annual fee for all the great features that come with your Freedom Rise® Card.
- Member FDIC
Balance transfer fee
5% or $5 of each transfer, whichever is greater
Foreign transaction fee
3% of the amount of each transaction in U.S. dollars.
Improve your credit
It'll take time and consistency to seriously improve your credit. The most important habit to develop is to pay your bills on time and in full. This will improve your payment history and keep the amounts you owe low, which are two key factors in determining your credit score.
If you need a quick bump for your credit score, there are tools that may help. Services such as *Experian Boost® and eCredable Lift® allow you to add additional activity to your credit report that normally wouldn't be included. This information can include utility provider payments and payments to streaming services.
Experian Boost®
Cost
Free
Average credit score increase
13 points, though results vary
Credit report affected
Experian®
Credit scoring model used
Results will vary. See website for details.
How to sign up for Experian Boost:
- Connect the bank account(s) you use to pay your bills
- Choose and verify the positive payment data you want added to your Experian credit file
- Receive an updated FICO® Score
Learn more about eligible payments and how Experian Boost works.
There are limitations to these services. Experian Boost only impacts your Experian credit report and eCredable Lift only changes what's on your TransUnion report. It's also important to know that eCredable Lift adds positive and negative activity to your credit report. So, adding negative payment information to your account could lower your credit score.
Find the best credit card for you by reviewing offers in our credit card marketplace or get personalized offers via CardMatch™.
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*Results may vary. Some may not see improved scores or approval odds. Not all lenders use Experian credit files, and not all lenders use scores impacted by Experian Boost.
