The new card debuts as the second in new multi-card suite; reinforces the bank’s sharpened focus on growing credit cards
Wells Fargo & Company announced the launch of the second card in the rollout of its new portfolio of consumer credit cards, the Wells Fargo Reflect Card. Available today, Reflect is a no-annual fee1, everyday value card that rewards cardholders for making regular on-time payments — an industry first. Reflect follows the Active Cash Card that launched in July, and offers a new type of value proposition not seen in the marketplace.
“Following the successful launch of our Active Cash Card, we continue to stay focused on introducing cards that offer ‘industry-first,’ unique value propositions that suit customers at all stages of their financial lives, including customers who tend to carry a balance,” said Krista Phillips, head of Branded Cards and Marketing for Wells Fargo Credit Cards. “Our new Reflect Card rewards cardholders for good financial habits, extending the introductory APR for up to three additional months when payments are made on time, a compelling differentiator we believe consumers deserve.”
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Designed for everyday spenders, Wells Fargo will begin taking applications for the Reflect card on October 1. As with each of the cards in the new Visa portfolio announced in June, Reflect offers a unique yet straightforward feature that rewards customers for making on-time payments — a habit that can help build credit over time. Customers can extend the 18-month introductory APR on purchases and qualifying balance transfers by up to three months for a total of up to 21 months with on-time minimum payments during the introductory and extension periods, making Reflect the bank’s card with the longest-lasting and lowest possible introductory rate.
Features of Reflect include:
- $0 annual fee.1
- The introductory offer includes 0% intro APR on purchases and qualifying balance transfers for the first 18 months from account opening. If customers make at least their minimum monthly payment on time for the first 18 months, the intro APR period is extended by up to three months for a total of up to 21 months; after that, a variable APR of 12.99% to 24.99% applies.1
- Cell phone protection when customers pay their monthly cell phone bill with their Reflect Card.
- Through My Wells Fargo Deals, cardholders can earn cash back in the form of a statement credit when shopping, dining, or enjoying an experience simply by activating the deal in Online Banking and using their Reflect Card, or other eligible Wells Fargo credit and debit card.
- Built-in Zero Liability Protection to ensure customers are not held responsible for any unauthorized transactions, when reported promptly.
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“These continue to be uncertain times for consumers, so we want to provide simple, reliable tools to help them take control of their finances,” said Phillips. “Our customers know what works and what doesn’t work for them, and we’re pleased to offer a way to get a break from interest so they can plan for the future or pay off past expenses with a low, everyday APR even after the introductory period ends.”
In addition to Active Cash and Reflect, Wells Fargo will launch a new rewards line of credit cards in the near future. The bank’s new suite will be accepted anywhere Visa Credit is accepted, from millions of merchants worldwide.
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