The Wells Fargo Reflect Card and the BankAmericard Credit Card are among our favorite balance transfer credit cards on the market today. Both cards offer 0% APR periods longer than many options, and the intro periods apply not only to balance transfers, but new purchases too.
If you want to pay down a large purchase over time, or you have high-interest credit card debt you need to consolidate, either card will give you plenty of breathing room to make payments. But when it comes down to the length of the intro period, the Wells Fargo Reflect is the winner here. You’ll get up to 21 months of 0% interest, whereas the BankAmericard intro period ends after 18 billing cycles.
But there are also limitations to both cards that you should consider before you apply, and features that may make one better for you than the other. Here are the details to consider before you make your decision:
Bonus Comparison
The BankAmericard is unique among many 0% interest cards because it offers a cash welcome bonus. You’ll earn a one-time statement credit of $100 after spending $1,000 on purchases within 90 days of account opening.
Like most other cards in this category, the Wells Fargo Reflect Card doesn’t offer a sign-up bonus of any kind.
Keep in mind, if you’re using either of these cards for balance transfers, it’s wise to avoid spending with the card while you’re paying down debt. The BankAmericard’s welcome bonus could be useful to score some extra value if you use the intro period to finance a large upcoming purchase, but consider the risk of taking on more debt if you’re using the intro period for a balance transfer instead.
Introductory Offers for Purchases
You’ll get 0% APR on purchases for 18 months to start, but you can extend this offer by an additional three months if you make at least the minimum payment on your card during the introductory and extension periods. At the end of the day, this means you can avoid interest on purchases for a full 21 months if you pay your bill on time each month.
On the other hand, BankAmericard Credit Card offers 0% APR on purchases for a shorter 18 billing cycles, which is equal to about 18 months.
Introductory Offers for Balance Transfers
Once again, the Wells Fargo Reflect Card comes out ahead for balance transfers. You’ll get the same 0% APR on transferred balances for 18 months with the chance for three additional months with on-time monthly payments – for a total of 21 months to pay down debt. A 3% balance transfer fee (minimum $5) applies during the first 120 days, after which the fee goes up to 5% (minimum $5).
Meanwhile, BankAmericard offers 0% APR on balance transfers for 18 billing cycles, but only for balances transferred within 60 days of account opening. A 3% balance transfer fee (minimum $10) applies.
Rewards and Benefits Comparison
Neither of these cards offers rewards for regular spending, but this is typical among balance transfer credit cards. Instead of offering rewards, these cards offer lucrative 0% APR offers that can help you save on interest as you pay down new purchases or consolidate existing debts.
The Wells Fargo Reflect Card does come with a few notable perks, including roadside assistance and up to $600 in cell phone insurance, subject to a $25 deductible. By contrast, BankAmericard doesn’t come with much more than a free credit score and no penalty APR if you pay your bill late.
The Wells Fargo Reflect Card and the BankAmericard Credit Card charge similar APRs after their introductory periods end. With the Wells Fargo Reflect Card, you’ll pay a variable ericard charges a variable APR of % to %.
You won’t have to pay an annual fee online payday loans for the Wells Fargo Reflect Card or BankAmericard, yet both cards do charge a 3% foreign transaction fee if you use them for purchases made abroad.
Any late payments with either card could result in a fee of up to $40, and the Wells Fargo Reflect charges up to $40 for returned payments. And remember, a late payment on the Wells Fargo Reflect could forfeit your eligibility for the extended 3-month intro period.
