No rewards: Restricted worth outdoors of the intro APR
The most important disadvantage with this card is that it would not supply any kind of rewards program. Which means:
- There is no welcome bonus. Some bank cards supply 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 might 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 honest, this card has particular presents via My Wells Fargo Offers, the place you possibly can earn money again assertion credit on buying, eating, and experiences you pay for along 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 would 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. In case you do not want your entire 21 months from account opening this Wells Fargo card presents, then it might make extra sense to select a card with a shorter intro interval that earns rewards.
Expensive charges on steadiness transfers and international transactions
The Wells Fargo Replicate® Card is a good steadiness switch card due to its 0% intro APR. However it additionally has a steadiness switch price of 5%, min: $5.
Stability switch playing cards usually have a price like this, however a few of them solely cost 3%. It could not appear to be a lot, however in case you’re transferring $5,000, that 2% distinction would price you an additional $100. In case you do not want 21 months from account opening to get out of debt, you might wish to have a look at extra bank card critiques and choose a card with a decrease steadiness switch price.
There’s additionally a international transaction price of three%, which is one more reason why this is not the most effective card for long-term use. In case you ever journey outdoors america, it is essential to have a card you should use with none further charges, like a journey bank card
