No award: Limited price outside Intro APR
The biggest defect with this card is that it does not offer any prize program. That means:
- There is no welcome bonus. Some credit cards provide a reception bonus of $ 200 or more for new card holders.
- There are no purchase prizes. Other cards earn cash prizes or points on all your qualified purchases, which can add over time. In this way it is possible to earn $ 500 or more every year in awards, it depends on how much you spend.
To be fair, this card has special proposals through my Wales Fargo deals, where you can earn a cash back statement credit on the experiences paying with shopping, food, and your worthy Wales Fargo cards. But here is not almost valuable as earning some statement credit and earning cash prizes on all your everyday shopping.
Due to lack of awards, this card does not have a long -term value. Once the 0% intro APR is finished, there is no encouragement to continue its use. You are better to switch to an award credit card at that point.
It is worth noting that there are 0% APR Credit Cards including award programs. They have only 0% Apr Intro period. If you do not require a full 21 months from the account of opening this Wales forgo card offer, then it may be more understandable to take a card with a period of small introduction that earns the prize.
Expensive fees on balance transfer and foreign transactions
Wales Fargo Reflect You Card is a great balance transfer card due to its 0% intro APR. But it is also Remaining transfer fee 5%, minimum: $ 5,
The balance transfer card usually has such a fee, but some of them charge only 3%. It may not take much, but if you are transferred $ 5,000, This 2% difference will spend you additional $ 100If you do not require 21 months from opening an account to get out of the loan, you want to see more credit card reviews and choose a card with low balance transfer fee.
There is also Foreign transaction fee 3%Which is another reason that it is not the best card for long -term use. If you ever travel outside the United States, it is important to have a card that you can use without any additional fee, such as a travel credit card
