Wells Fargo Mirror Card Overview
No rewards: Restricted worth outdoors of the intro APR
The most important disadvantage with this card is that it does not provide any type of rewards program. Meaning:
- There is not any welcome bonus. Some bank cards provide welcome bonuses of $200 or extra for brand new cardholders.
- There are not any buy rewards. Different playing cards earn money rewards or factors on all of your eligible purchases, which may add up over time. It is attainable to earn $500 or extra yearly in rewards this manner, relying on how a lot you spend.
To be truthful, this card has particular affords via My Wells Fargo Offers, the place you possibly can earn money again assertion credit on procuring, eating, and experiences you pay for along with your eligible Wells Fargo card. However incomes some assertion credit right here and there is not almost as invaluable as incomes money rewards on all of your on a regular basis purchases.
Due to the dearth of rewards, this card does not have a lot long-term worth. As soon as the 0% intro APR ends, there is not any incentive to proceed utilizing it. You are higher off switching to a rewards bank card at that time.
It is value noting that there are 0% APR bank cards that even have rewards packages. They simply have shorter 0% APR intro intervals. In the event you do not want the complete 21 months from account opening this Wells Fargo card affords, then it might make extra sense to select a card with a shorter intro interval that earns rewards.
Pricey charges on stability transfers and international transactions
The Wells Fargo Mirror® Card is a good stability switch card due to its 0% intro APR. Nevertheless it additionally has a stability switch price of 5%, min: $5.
Stability switch playing cards usually have a price like this, however a few of them solely cost 3%. It might not appear to be a lot, however in case you’re transferring $5,000, that 2% distinction would value you an additional $100. In the event you do not want 21 months from account opening to get out of debt, chances are you’ll wish to take a look at extra bank card critiques and choose a card with a decrease stability switch price.
There’s additionally a international transaction price of three%, which is one more reason why this is not the most effective card for long-term use. In the event you ever journey outdoors the US, it is vital to have a card you should use with none additional charges, like a journey bank card
