Wells Fargo Replicate Credit score Card Evaluation

I’m hardwired to not carry bank card balances. If I can’t afford it, I don’t cost it.

Often. Every now and then, I come throughout a 0% introductory APR supply that’s just too good to cross up. Then I’ll break my rule, front-load purchases I’d have revamped a interval of many months, and pay them off step by step with out incurring any curiosity prices. 

For those who’re like me, you’ll wish to try the Wells Fargo Replicate® Card. It’s the most effective new 0% APR bank card in latest reminiscence, with equal advantages for purchases and stability transfers. See if it’s price including to your bank card lineup.

What Is the Wells Fargo Replicate Card?

The Wells Fargo Replicate Card is a low-APR bank card with one of many longest 0% APR introductory promotions round: 18 months for certain, and three months longer whenever you make well timed, in-full funds throughout your first yr and three-quarters as a cardholder. That’s a complete of 21 months with no curiosity prices.

Key Options of the Wells Fargo Replicate Card

Past the lengthy 0% APR promotion, Replicate doesn’t have quite a bit going for it. It has no rewards program, no sign-up bonus, few journey or buy advantages, and few different perks to tell apart it. However that’s virtually a part of its enchantment. There’s completely no secret what it’s good for.

0% APR Introductory Promotion

The Wells Fargo Replicate Card prices no curiosity on purchases or stability transfers for a minimum of 18 months from account opening. Qualifying stability switch requests have to be made inside 120 days of account opening. In any other case, variable common APR applies to these transfers.

Following the top of the 0% APR introductory interval, variable common APR applies to all purchases and stability transfers except you qualify for the 0% APR interval extension.

0% APR Interval Extension

Qualifying for the 0% APR interval extension shouldn’t be too troublesome. For those who make on-time minimal funds in the course of the preliminary 0% APR promotion interval and the extension interval, you earn a three-month extension of the 0% APR window.

That ends in a complete of 21 consecutive months of purchases and stability transfers at 0% APR.

Following the top of any extension interval you earn, variable common APR applies (for actual this time). Repay all of your prices or transfers in full earlier than the speed resets if you wish to keep away from curiosity. For those who don’t, you lose out on the promo and need to pay all that curiosity you’d saved your self anyway.

Cellphone Safety

Wells Fargo Replicate comes with complimentary cellphone safety whenever you pay your eligible cellphone invoice in full with the cardboard every month.

There’s a profit cap of $600 per declare with a $25 deductible and not more than two paid claims per 12-month interval. However it’s a must to be fairly careless to wish three new telephones in 12 months.

Wells Fargo Offers

As a Replicate cardholder, you possibly can reap the benefits of personalised cash-back rewards from a wide range of taking part retailers by way of My Wells Fargo Offers. Presents range, however you possibly can anticipate finding the equal of 5% to 10% off purchases with fashionable nationwide chains, from eating places like Panera to automotive service companies like SpeeDee Oil Change.

Whereas this isn’t an everyday cash-back rewards program and doesn’t promise a return on each buy, it’s a pleasant option to cut back the web value of sure purchases made in your Replicate card.

Roadside Dispatch

Take pleasure in entry to a 24/7 roadside dispatch community that gives on-demand towing, lockout, and different roadside help in coated geographies. You could have to pay out of pocket for some or all companies, and their use isn’t limitless, however they’re good to have in a pinch.

Credit score Shut-Up

Enroll in Wells Fargo’s free Credit score Shut-Up program to see your FICO rating, get entry to your Experian credit score report, arrange personalised credit score alerts, and get personalized suggestions to assist enhance your rating. Enrollment doesn’t have an effect on your credit score rating, so there’s no purpose to not take this step.

Necessary Charges

Wells Fargo Replicate prices no annual payment. The international transaction payment is 3% of the whole transaction quantity for any worldwide transaction transformed to U.S. {dollars}.

In the course of the 120-day introductory stability switch window, the stability switch payment is 3% of the switch quantity (minimal $5). After that, the payment rises to five% of the switch quantity (minimal $5).

Credit score Required

This card requires a good to wonderful credit score rating. Important blemishes in your credit score historical past that decrease your credit score rating may adversely have an effect on your software.

Benefits of the Wells Fargo Replicate Card

The Wells Fargo Replicate Card is likely one of the higher 0% APR bank cards available on the market. Right here’s the place it shines.

• Lengthy 0% APR Introductory Promotion. Wells Fargo Replicate has a really lengthy 0% rate of interest introductory promotion. It stretches for 18 months on each purchases and stability transfers, though it’s essential to make stability transfers inside 120 days of account opening to qualify.
• Alternative to Lengthen the 0% Intro APR Promotion for Three Extra Months. Replicate’s three-month 0% APR extension interval pushes it into category-leading territory. Make on-time minimal funds in the course of the preliminary and prolonged promotional intervals and pay no curiosity on eligible massive purchases or stability transfers for 21 months (billing cycles) from account opening.
• No Annual Payment. Wells Fargo Replicate prices no annual payment. That’s simply as properly as a result of it has no common rewards program to ship a dependable return on spending.
• As much as $600 in Cellphone Safety Per Declare. Replicate gives complimentary cellphone safety protection whenever you pay your cellphone invoice in full together with your card. It’s price as much as $600 per declare and $1,200 per rolling 12-month interval, although there’s a $25 deductible per declare.
• Personalised Purchasing Offers By My Wells Fargo Offers. My Wells Fargo Offers isn’t a correct cash-back rewards program, but it surely does ship a pleasant return on eligible purchases with well-known nationwide retailers.

Disadvantages of the Wells Fargo Replicate Card

Wells Fargo Replicate has some vital downsides, like no rewards program or sign-up bonus for brand spanking new account holders.

• No Common Rewards Program. Wells Fargo Replicate doesn’t have an everyday rewards program. That’s a disadvantage compared to cash-back bank cards with comparable 0% APR introductory gives, just like the Citi Customized Money Card.
• No Signal-Up Bonus. Wells Fargo Replicate doesn’t have a sign-up bonus for brand spanking new account holders both. It’s important to make do with the admittedly beneficiant 0% APR introductory promotion.
• Comparatively Excessive Stability Switch Payment. After a 120-day interval throughout which the stability switch payment is the better of three% or $5, the payment rises to account for as a lot as 5% of the switch quantity (minimal $5). That’s a bit dear for a card that rightly touts its lengthy 0% APR introductory promotion.
• 3% International Transaction Payment. Wells Fargo Replicate levies a 3% surcharge on international transactions. For those who routinely journey outdoors the U.S. or patronize abroad retailers that cost patrons within the service provider’s native forex, use one other card.

How the Wells Fargo Replicate Card Stacks Up

The Wells Fargo Replicate Card is an above-average low-APR bank card, but it surely doesn’t have the area to itself. Right here’s the way it stacks as much as the Chase Slate Edge Card, a well-liked competitor with comparable advantages.

Different Options to Contemplate

Earlier than you apply for the Replicate Card — or Chase Slate Edge, for that matter — take into account these alternate options. Every has a minimum of one energy not shared by Replicate.