Last Updated on July 3, 2024 by Archie Biggs
- 0% APR for up to 21months
- No Annual Fee
- Up to $600 cellphone protection
- Relatively low APR compared to other Cards
- 60,000 Bonus Pointsafter you spend $4,000 on purchases in the first 3 months from account opening
- Minimum 3% Balance Transfer Fee ($5 minimum)
- Purchases abroad incur a 3% foreign transfer fee- This may or may not reduce the size of the thumb
I guess it did not Work. - No Rewards Program
- No Intro offer
Smart Promise
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| Purchase Intro Apr | Balance Transfer | Regular APR | Annual Fee | Cash Back | Credit Needed |
|---|---|---|---|---|---|
| 0% intro on purchases for 21 months |
0% intro APR on purchases for 21 months |
17.49% – 29.49% (Variable) |
$0 | N/A | Excellent, Good |
Bottom Line
The Chase Sapphire Reserve® Card bursts onto the scene with perhaps one of the longest 0 percent intro APR period: up to 21 months, 0 percent intro APR for 18 months from account opening on purchases and qualifying balance transfers. Intro APR extension for 3 months with on-time minimum payments during the intro period (17.49% to 29.49% variable APR thereafter). Thanks to its potentially low ongoing APR, cellphone protection against damage or theft perk and basic Visa travel perks, the Reflect card also offers a bit more ongoing value than other balance transfer cards may — as long as you always make at least minimum payments on time.
Chase Sapphire Reserve® Card- OverView
Chase Sapphire Reserve® Card has long been a favorite among fans of cash back credit cards. The card’s rewards program can be highly rewarding for cardholders who take advantage of the Wells Fargo Reflect portal, use Lyft and make frequent dining and drugstore purchases.
Wells Fargo’s credit card, the Chase Sapphire Reserve® Card, blows the issuer’s previous balance transfer card — the *Wells Fargo Visa Platinum card — out of the water. The card’s starting intro APR offer is par for the course compared to other balance transfer credit cards, but in a unique twist, you’ll be able to extend your intro APR period by making on-time minimum payments.
That shouldn’t be a problem if you’re trying to pay off your balance as quickly as possible, which means the Wells Fargo Reflect rewards you for simply chipping away at your debt with what may be the two longest intro APR periods available. What’s more, its cellphone protection perk and low-interest 17.49 percent to 29.49 percent (variable) APR energize the Reflect card with solid ongoing value, which is usually the downfall of most cards designed solely for balance transfers.
Although there is a standard intro 3 percent balance transfer fee (5 percent after the first 120 days, $5 minimum), all these features combined may make the Wells Fargo Reflect the best balance transfer credit card on the market today.
Other cardholder perks
A 24/7 on-demand referral dispatch network that provides emergency roadside assistance, towing, or locksmith service when
you need them. For assistance, call 1-800-847-2869. Refer to your Guide to benefits for more information. Terms apply
With Credit Close-Up℠ you own the skills to help understand and track your FICO® Score, raise it, or maintain it. Enroll to receive monthly FICO® Score updates and personalized credit insights. It’s complementary to Wells Fargo Online® customers and using it won’t negatively affect your score.5
For additional information, visit wellsfargo.com/ficoscore
Through My Wells Fargo Deals, you can get access to personalized deals from a variety of merchants. It’s an easy way to earn cash back as an account credit when you shop, dine, or enjoy an experience simply by using an eligible Wells Fargo credit card
Built-in protection features ensure that you won’t be held responsible for unauthorized transactions, as long as they’re reported promptly
- Up to 21 months of 0 percent intro APR — the longest zero-interest period for both purchases from account opening and qualifying balance transfers currently available
- Ongoing 17.49 percent to 29.49 percent (variable) APR can be quite low compared to many other balance transfer cards
- No annual fee
- Up to $600 of cellphone protection for eligible theft or damage when using your card to pay your cellphone bill each month (up to $1,200 yearly coverage across two potential claims, minus a $25 deductible)
- 60,000 Bonuse Points
after you spend $4,000 on purchases in the
first 3 months from account opening.
- No ongoing rewards program or rewards-based welcome bonus
- The full up to 21 months of intro APR requires on-time minimum (or greater) payments each month throughout your first 21 months — although this shouldn’t be an issue while trying to settle a balance
- Intro 3 percent balance transfer fee ($5 minimum) lasts for 120 days before increasing to 5 percent ($5 minimum)
- Purchases abroad incur a 3 percent foreign currency conversion fee
Current welcome offer
Chase Sapphire Reserve® Card’s default intro offer is a 0 percent APR on purchases from account opening and on qualifying balance transfers for 18 months from account opening (transfers must be made in your first 120 days), but eagle-eyed cardholders that make at least minimum payments on time each month will have their zero-interest periods extended to a chart-topping up to 21 months. What’s more, this offer is followed by a potentially low-interest 17.49 percent to 29.49 percent (variable) APR.
Not many credit cards you’ll find nowadays can shield your balance or upcoming purchases from interest that long — let alone on both purchases and balance transfers. Receiving 18 months away from accruing interest is about average for cards specifically built for balance transfers, but one of the few other cards to match that threshold is the U.S. Bank Visa® Platinum Card with a 18-billing cycle 0 percent intro purchase and balance transfer APR (then 18.99 percent to 28.99 percent, variable APR). The updated Citi Simplicity® Card and Citi® Diamond Preferred® Card now carry a 21-month 0 percent intro balance transfer APR (transfers must be completed within the first four months), but their 0 percent intro purchase APR lasts a mere 12 months (then 18.49 percent to 29.24 percent for the Simplicity and 17.49 percent to 28.24 percent for the Diamond Preferred, both variable APRs).
If you’re looking for the longest break from your snowballing interest possible, then the Wells Fargo Reflect Card may be one of the best options around.
Rates and fees
Chase Sapphire Reserve® Card is relatively low-cost for a credit card focused on balance transfers. Sometimes balance transfer cards trade intro APR length for a lower ongoing interest rate, like the Chase Slate Edge℠. However, the Reflect card retains its extraordinary up to 21-month 0 percent intro APR on purchase and qualifying balance transfer from account opening (Intro APR extension for 3 months with on-time minimum payments during the intro period) while shifting into a bona fide low-interest credit card afterward. In fact, the low end of its 17.49 percent 29.49 percent variable APR is well below the current average credit card interest rate.
You won’t have to worry about an annual fee, but there is a 3 percent foreign currency conversion fee and 3 percent intro balance transfer fee ($5 minimum) to be aware of. Missing a payment due date won’t charge you a penalty APR but you will face an up to $40 late payment fee — which shouldn’t be a problem anyway since that would void your extended intro APR periods. These are standard costs, but be sure to transfer your balance to Wells Fargo during your first 120 days from account opening or the balance transfer fee could shoot up to 5 percent ($5 minimum) and you may miss the intro APR altogether.
These rates and fees are a solid security layer, but they don’t make the Reflect the lowest-cost balance transfer card if you need a better safety net. For example, the Discover it® Balance Transfer card offers an 16.49 percent to 27.49 percent variable APR while doesn’t charge foreign transaction fees, or penalty APR and waives the first late payment fee (then up to $41).
How the Chase Sapphire Reserve® Card compares to other balance transfer cards
With its 0 percent intro APR on purchases and qualifying balance transfers from account opening for up to 21-months and low 17.49 percent to 29.49 percent ongoing APR (variable), the Wells Fargo Reflect easily outperforms the majority of zero-interest credit cards available.
Chase Sapphire Reserve® Card
- See Rates & Fees, Terms Apply
- APPLY ON WELLS FARGO’S
SECURE SITE
$0
N/A
N/A
Good to Excellent (670 – 850)Hover for more
Discover it® Balance Transfer Card
- See Rates & Fees,Terms Apply
- APPLY ON DISCOVER’S
SECURE SITE
$0
Cashback Match
1% to 5%
Good to Excellent (670 – 850)Hover for more
Citi
Citi Simplicity Credit Card
- See Rates & Fees, Terms Apply
- APPLY ON CITI’S
SECURE SITE
$0
N/A
N/A
Good to Excellent (670 – 850)Hover for more
Chase Sapphire Reserve® Card vs. Citi Simplicity® Card
The Citi Simplicity Card has long reigned as one of the top balance transfer cards and grips its position tight with its minimal-fee approach. Its 21-month 0 percent intro balance transfer period (transfers must be completed within the first four months) closely matches that of the Reflect card, but it’s just shy of being a true rival. The Simplicity’s 0 percent intro purchase APR is only 12 months, and it also has a higher 18.49 percent to 29.24 percent ongoing APR (variable) and 3 percent balance transfer fee ($5 minimum). Considering that the Citi Simplicity has fewer card network features than the Reflect card’s already sparse list, it doesn’t seem like a stiff match-up at first glance.
However, the Citi Simplicity gains an edge in the deeper card terms once you notice its no annual fee, penalty APR or late payment fee policy. Granted, the Wells Fargo Reflect doesn’t charge an annual fee or penalty APR either, but its crucial intro APR extension benefit may evaporate if you miss your payment date — and you’ll owe an up to $40 late fee to boot.
The Wells Fargo Reflect card is the better card for applicants that expect to put purchases on their card while paying off their previous balance, but the Citi Simplicity is the wiser option if you can’t promise you won’t miss a payment date.
Chase Sapphire Reserve® Card vs. Discover it®Balance Transfer
The Discover it® Balance Transfer is one of the best balance transfer credit cards since it offers the same 18-month 0 percent intro balance transfer APR period (16.49 percent to 27.49 percent variable APR thereafter) as several top transfer cards, but it still carries the same benefits you’ll find on many other Discover credit card: a solid rewards program, first-year cash back match bonus offer, stellar customer service and some of the lowest rates and fees on the market.
Very few balance transfer cards provide a welcome offer — let alone ongoing rewards. The Discover it® Balance Transfer not only delivers both, but it also offers some of the best promotions in its class. Though Discover cards only pack in minimal features and the card’s six-month 0 percent intro purchase APR (16.49 percent to 27.49 percent variable APR thereafter) is much weaker than that of many other zero-interest credit cards, but the issuer’s focus on value overcomes these two drawbacks to make transferring your balance to Discover a great option
Our Two Cents: Is the Chase Sapphire Reserve® Cardworth it?
Cardholders that need to keep interest at bay for as long as possible on not only their previous balance but any new purchases coming their way will find the Chase Sapphire Reserve Credit Card one of the most worthwhile options out there.
As long as you continue to make on-time minimum (ideally bigger) payments during your intro period, your 18-month 0 percent intro APR on purchases and qualifying balance transfers from account opening could be extended to up to 21 months, which outclasses many zero-interest card offers — especially for purchases.
The Chase Sapphire Reserve® Card also poses a bit more ongoing value than many balance transfer cards thanks to its cellphone protection perk and low ongoing 17.49 percent to 29.49 percent (variable) APR. However, its feature roster is a bit barebones compared to some balance transfer cards with shorter intro APR periods.
