Wells Fargo has launched a new credit card, targeting people who are looking to make a large purchase or pay down existing credit card debt. The Wells Fargo Reflect Card offers an impressive introductory 0% APR promotion, with the opportunity to get the longest 0% APR period that's currently available. However, the card doesn't offer much else in terms of outstanding value.

Key Takeaways

  • The Wells Fargo Reflect Card offers up to 21 months with no interest to new cardholders.
  • Cardholders must make on-time payments to get the full 0% APR promotional period; otherwise it's good for just 18 months.
  • The card doesn't offer rewards or other major perks.

How the New Wells Fargo Reflect Card Compares

Wells Fargo has launched its second new credit card in just three months, the first being the Wells Fargo Active Cash Card. The Wells Fargo Reflect Card offers an industry-leading introductory 0% APR promotion. There is a small catch, however.

New cardholders will get an introductory 0% APR promotion on both purchases and qualifying balance transfers for 18 months. If they make all of their monthly payments on time during that period, they can get a three-month extension—for a total of up to 21 months.

There are other cards that offer 18 months on purchases, balance transfers, or both, and the U.S. Bank Visa Platinum Card, which Investopedia rates as one of the best 0% APR credit cards, offers 20 months on both. But only the new Reflect card offers a 0% APR on both for as long as 21 months.

The Wells Fargo Reflect Card doesn't offer rewards of any kind, making it less valuable once the promotional APR period ends. While it offers cell phone protection, there are no other significant ancillary benefits.

Even so, the card may be worth considering if you have a large credit card balance you want to pay down over time or if you need to make a large purchase and know you won't be able to pay it off immediately.