Wells Fargo Replicate Card Evaluate
No rewards: Restricted worth exterior of the intro APR
The largest disadvantage with this card is that it does not provide any form of rewards program. Meaning:
- There isn’t any welcome bonus. Some bank cards provide welcome bonuses of $200 or extra for brand spanking new cardholders.
- There aren’t 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 potential 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 by way of My Wells Fargo Offers, the place you possibly can earn money again assertion credit on purchasing, eating, and experiences you pay for together 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 no incentive to proceed utilizing it. You are higher off switching to a rewards bank card at that time.
It is price noting that there are 0% APR bank cards that even have rewards packages. They only have shorter 0% APR intro intervals. Should you do not want all the 21 months from account opening this Wells Fargo card affords, then it may make extra sense to choose a card with a shorter intro interval that earns rewards.
Pricey charges on steadiness transfers and international transactions
The Wells Fargo Replicate® Card is a superb steadiness switch card due to its 0% intro APR. However it additionally has a steadiness switch price of 5%, min: $5.
Steadiness switch playing cards usually have a price like this, however a few of them solely cost 3%. It could not seem to be a lot, however should you’re transferring $5,000, that 2% distinction would value you an additional $100. Should you do not want 21 months from account opening to get out of debt, chances are you’ll need to take a look at extra bank card evaluations and decide a card with a decrease steadiness switch price.
There’s additionally a international transaction price of three%, which is another excuse why this is not the perfect card for long-term use. Should you ever journey exterior the US, it is essential to have a card you should use with none additional charges, like a journey bank card
