Wells Fargo Mirror card assessment: Refinance debt and even get cellphone safety

Wells Fargo Mirror® Card overview

The Wells Fargo Mirror® Card (charges & charges) is ideal for these seeking to refinance their debt with a stable introductory stability switch alternative. Whereas mild on total advantages, the cardboard brings you again to the fundamentals and even comes with cellphone safety whenever you pay your month-to-month invoice with this card. Card ranking*: ⭐⭐⭐

*Card ranking is predicated on the opinion of TPG’s editors and isn’t influenced by the cardboard issuer.

If decreasing your debt is one in every of your prime priorities, a bank card just like the Wells Fargo Mirror Card might help you keep away from paying curiosity on balances you carry within the interim.

For no annual price, you’ll be able to switch your balances out of your different bank cards to the Wells Fargo Mirror and make the most of its 0% introductory annual share charge (APR) for 18 months from account opening on purchases and qualifying stability transfers (then a variable APR of 17.49%-29.49% applies). There may be additionally the potential to increase this era (for 3 months) by making on-time minimal funds throughout the introduction interval.

Let’s check out all the main points and see if that is the cardboard for you.

Wells Fargo Mirror welcome Supply

Sadly, the Wells Fargo Mirror doesn’t at present provide a welcome bonus whenever you apply for the cardboard.

Wells Fargo Mirror advantages

As talked about above, the primary perk of opening this card is the introductory APR alternative. In case you anticipate a big buy that you simply wish to finance over 18 months, you’ll be saved by the introductory curiosity charges for this era. What’s distinctive about this card is that there’s a possibility to increase this introduction APR interval for 3 months, as long as you pay on-time minimal funds throughout the introductory interval. This provides you a complete grace interval of as much as 21 months — amongst the longest we have seen

You may as well take pleasure in 0% introduction APR on qualifying stability transfers made throughout the first 120 days for these with current debt (then a variable APR of 17.49%-29.49% applies). Simply word that there’s a stability switch of three% throughout this introductory interval, then a price of as much as 5% (with a minimal of $5) thereafter.

Whereas there’s no method to accrue factors, miles and even money rewards with this card, you’ll be able to obtain as much as $600 of cellphone safety towards harm and theft whenever you pay your month-to-month cellphone invoice together with your card (topic to a $25 deductible). Month-to-month cellphone insurance coverage will be dear, so this wonderful safety robotically comes with a card with no annual price.

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Which playing cards compete with the Wells Fargo Mirror?

Many issuers have come out with their very own debt refinancing bank cards, so there’s no scarcity of choices in comparison with the Wells Fargo Mirror.

  • In case you desire Citi: Citi® Diamond Most well-liked® Card cardholders take pleasure in a 0% introductory APR for brand new purchases for the primary 12 months of account opening, and 0% introductory APR for 21 months from the date of the primary switch for stability transfers accomplished throughout the first 4 months of account opening. Observe that there’s a stability switch price of both $5 or 5% of the quantity of every switch, whichever is larger. After the introduction interval, there’s a 17.49%-27.24% variable APR primarily based in your creditworthiness.
  • In case you desire Financial institution of America: The BankAmericard® bank card additionally has no annual price and a 0% introductory APR for 21 billing cycles for purchases and any stability transfers made within the first 60 days. After the introduction APR provide ends, a 16.24%-26.24% variable APR will apply. A 3% price (min $10) applies to all stability transfers. For extra info, learn our full assessment of the BankAmericard card.

For added choices, take a look at our full listing of stability switch bank cards.

Learn extra: 5 tricks to make a profitable stability switch


Is the Wells Fargo Mirror price it?

Briefly, it relies on what you are searching for in a card. If avoiding APR and decreasing debt are your prime priorities proper now — as an alternative of incomes rewards and creating worth — it could possibly be a match for you.

Backside line

The Wells Fargo Mirror isn’t competing on the identical degree as prime rewards playing cards reminiscent of The Platinum Card® from American Categorical or the Chase Sapphire Reserve. As an alternative, it’s for customers who want a financing (or refinancing) provide earlier than accruing bank card factors and miles. With diligent, on-time funds, you’ll see your credit score rating rise, qualifying you for these journey rewards bank cards down the street.

Extra reporting by Ryan Wilcox.

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