Wells Fargo balance transfer cards: Which one is right for you?

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In a Nutshell

There are two Wells Fargo balance transfer cards. Deciding which might work for you could depend on whether you’re looking to pay off an existing credit card balance or planning for a big purchase.
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This offer is no longer available on our site: Wells Fargo Reflect® Card

Compare Wells Fargo balance transfer cards

Wells Fargo Reflect® CardWells Fargo Active Cash® Card
Intro APR0% APR on qualifying balance transfers and purchases0% APR on qualifying balance transfers and purchases
Intro APR time periodUp to 21 months for balance transfers and purchases15 months for balance transfers and purchases
Regular variable APR for purchases and balance transfers18.24% – 29.99%* Variable20.24%, 25.24%, 29.99%
Balance transfer feeNo fee for transfers made within 120 days from account opening, then up to 5%; min: $5Fee of 3% for 120 days from account opening, then up to 5% (minimum $5)
RewardsNoYes
Annual fee$0$0

Wells Fargo offers two credit cards with introductory balance transfer offers. But be careful which one you choose. One is aimed at helping you get out of debt — the other offers rewards that give you ongoing value once you’re done paying off your debt.

  1. Wells Fargo Reflect® Card
  2. Wells Fargo Active Cash® Card

What you need to know about each Wells Fargo balance transfer card

Wells Fargo Reflect® Card

The Wells Fargo Reflect® Card gives you more time to pay off your balance transfer along with any new purchases you make.

Here’s how it works.

  • Intro APR — You’ll receive an APR of 0% for 21 months from account opening on qualifying balance transfers that are completed during the first 120 days, in addition to any new purchases you make. But if you’re late with a payment, your introductory APR may no longer be valid.
  • Regular APR — After the intro period, the variable APR for both purchases and balance transfers climbs to 18.24% – 29.99%* Variable.
  • Balance transfer fee — Keep in mind that even if you pay it off in time, balance transfers aren’t entirely free. On each balance transfer you’ll pay a fee of 5% of the transferred balance (minimum $5).

What sets the Wells Fargo Reflect® Card apart from the Wells Fargo Active Cash® Card is the fact that it’s all about the low intro APR — while you won’t earn any cash rewards, you’ll have a nice, long 0% intro period to pay off your debt.

Wells Fargo Active Cash® Card

The Wells Fargo Active Cash® Card combines a low intro APR with cash rewards.

Here’s how it works.

  • Intro APR — You’ll receive an APR of 0% that are completed during the first 120 days, along with any new purchases you make.
  • Regular APR — After that, the variable APR for both climbs to 20.24%, 25.24%, 29.99%.
  • Balance transfer fee — You’ll pay a 3% balance transfer fee (minimum $5) during the first 120 days you have the card. After that, the fee goes 3% for 120 days from account opening, then up to 5% (minimum $5).

What sets the Wells Fargo Active Cash® Card apart from the Wells Fargo Reflect® Card is the fact that it’s not just a balance transfer card — it also offers cash rewards. You’ll earn a $200 cash rewards bonus after spending $500 on purchases during the first 3 months after account opening. Plus, you’ll get 2% cash back on every purchase.

But the trade-off for earning rewards is that you’ll have a shorter intro APR period, which gives you less time to pay back your balance transfer and any new purchases you make before the interest charges kick in.

How to pick the right Wells Fargo balance transfer card for you

There’s a big distinction between Wells Fargo’s two balance transfer credit cards.

If you’re paying off a substantial amount of credit card debt, the Wells Fargo Reflect® Card gives you more time to do so before interest charges kick in. And because you won’t earn rewards, it can help you focus on getting out of debt instead of making new purchases.

But the Wells Fargo Active Cash® Card might be a better choice for someone who is planning to make a big purchase and wants to earn rewards while paying it off. If you can pay off the new purchase within 15 months, and if you don’t have an existing balance to transfer over from another card, you might as well get a little extra.

Not sure either of these Wells Fargo balance transfer cards are for you? Consider some alternatives.

Each of the following has a low intro APR:

  • Chase Slate Edge℠: Good for people who need a lot of time to pay for big purchases.
  • Citi Simplicity® Card: Good for people who need a lot of time to pay off their balance transfer.
  • Discover it® Balance Transfer: Good if you want to earn more rewards after paying off a balance transfer.

About the author: Tim Devaney is a personal finance writer and credit card expert at Credit Karma. He’s a longtime journalist who prides himself on being a good storyteller who can explain complex information in an easily digestible wa… Read more.