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Wells Fargo recently launched the Wells Fargo Reflectâ„ map. It offers a great introductory offer of 0% APR with maximum interest-free funding of up to 21 months for purchases and qualifying credit transfers, followed by 12.99% -24.99% variable APR.
But how does it fit in with another newly released 0% intro APR card, like the Chase Slateâ„ Edge?
Select walks you through the advantages of both cards so you can choose the one that best suits your financial needs.
Wells Fargo Reflect Card vs. Chase Slate Edge
| Wells Fargo Reflectâ„ map | Chase Slateâ„ Edge | |
| Introductory APR offer | Introductory 0% APR on purchases and qualifying credit transfers for the first 18 months after account opening; Extension by up to 3 months (up to 21 months in total) with punctual minimum payments during the introductory and extension period, 12.99% to 24.99% variable APR on purchases and balance transfers thereafter. Funds transfers made within 120 days qualify for the introductory price and fee. | 0% for the first 12 months on purchases and credit transfers, 14.99% to 23.74% variable after |
| reward | None | None |
| Welcome bonus | None | Earn $ 100 on your credit card statement when you spend $ 500 in the first six months of opening your account |
| Other advantages | Cell phone protection, access to Wells Fargo Deals, access to Visa Signature Concierge | Lower your interest rate by 2% every year, automatic checks for higher credit limits in the first six months, and purchase protection |
Wells Fargo Reflect Card vs. Chase Slate Edge
Track the edge of the slateâ„
Information about the Chase Slate Edgeâ„ was independently collected by Select and was not reviewed or provided by the card issuers prior to publication.
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reward
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Welcome bonus
Earn $ 100 on your credit card statement when you spend $ 500 in the first six months of opening your account
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annual fee
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Introduction of APR
0% for the first 12 months on purchases and credit transfers
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Regular annual interest
14.99% to 23.74% variable
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Transfer fee for the credit
Either $ 5 or 3% of the amount of each transfer, whichever is greater in the first 60 days
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Foreign transaction fee
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Credit needed
Wells Fargo Reflectâ„ map
On the safe side of Wells Fargo
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reward
-
Welcome bonus
-
annual fee
-
Introduction of APR
Introductory 0% APR on purchases and qualifying credit transfers for the first 18 months after account opening; Extension of up to 3 months (a total of 21 months) with punctual minimum payments during the introductory and extension period
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Regular annual interest
12.99% to 24.99% variable APR on purchases and credit transfers
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Transfer fee for the credit
Introductory fee of 3% (minimum US $ 5) for 120 days from account opening, then up to 5% (minimum US $ 5)
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Foreign transaction fee
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Credit needed
Welcome bonus
annual fee
Annual rate offer
Both cards are intended for consumers looking for an easy way to fund their purchases or transfer funds without incurring interest fees. However, one offer is clearly better than the other.
The Chase Slate Edge offers 0% for the first 12 months on purchases and credit transfers, 14.99% to 23.74% variable thereafter.
The Wells Fargo Reflect offers 0% APR on purchases and qualifying credit transfers for the first 18 months after the account is opened; with an extension of up to 3 months (up to 21 months in total) with punctual minimum payments during the introductory and extension period, 12.99% – 24.99% variable effective annual interest rate on purchases and balance transfers thereafter.
So if you are simply looking for the longest possible introductory APR period of 0%, the Wells Fargo Reflect Card is your best bet. You have almost two years from opening an account before interest is charged to your card.
winner: Wells Fargo Reflectâ„ map
Additional benefits
Each card has its own unique advantages. But neither of them comes with me Rewards or cashback for spending on the card.
The Chase Slate Edge offers:
- The ability to cut your interest rate by 2% each year if you pay on time and spend at least $ 1,000 on your card by your next account anniversary.
- Buyer Protection: Your purchases are insured against theft or damage for up to US $ 120 after purchases, up to US $ 500 per claim.
- Extended Warranty: All manufacturer warranties are extended up to one year for purchases made with your Chase Slate Edge.
- Rental car insurance
The Wells Fargo Reflect offers:
- Cell Phone Protection: Up to $ 600 cell phone protection when you pay your monthly cell phone bill with the Reflect card, subject to a $ 25 deductible.
- Roadside Assistance: 24/7 on-demand reference dispatch network that provides roadside assistance, towing or key service when needed.
- My Wells Fargo Deals: My Wells Fargo Deals gives you access to personalized offers from hundreds of different retailers to save money on your purchases.
winner: This one is closer, but the one Wells Fargo Reflectâ„ map wins this for his valuable cell phone protection. With iPhones costing over $ 1000, protecting that valuable investment with a free policy makes this card even more worthwhile.
Bottom line
A 0% introductory APR credit card is well worth considering if you need a way to fund your purchases. Whether it Buying a vacation, paying for your upcoming Christmas shopping, or transferring balance from another high-interest credit card is a great strategy for avoiding credit card interest. However, many personal finance experts recommend that you don’t overpend on a credit card and that you should stick to a budget.
But between these two cards, the winner is clearly the one Wells Fargo Reflectâ„ map. With industry leading 0% funding up to 21 months and cell phone protection, this card is an excellent option for anyone looking to extend their repayment period or consolidate debt.
winner: Wells Fargo Reflectâ„ map
Note to editors: The opinions, analyzes, reviews or recommendations expressed in this article are solely those of the Select editors and have not been reviewed, approved or otherwise endorsed by third parties.
