What is the minimum credit score required for the Wells Fargo Reflect card?

To save on credit card interest charges, consider applying for the Wells Fargo Reflect® Card, which offers a top-tier intro-APR on purchases and balance transfers. However, before you can enjoy this card's money-saving features, you must first be approved for it.

The credit score requirement for the Wells Fargo Reflect® Card has been uncovered by CNBC Select.

Wells Fargo Reflect Card details

You will receive 21 months of 0% intro APR on purchases and balance transfers with a new Wells Fargo Reflect® Card. After the intro APR ends, a variable APR of 18.24%, 24.74%, or 29.99% will apply. For balance transfers, a balance transfer fee of 5%, min: $5, applies.

You will receive additional benefits, including roadside assistance and phone protection, with your cell phone coverage offering up to $600 in reimbursement for theft or damage ($25 deductible; two claims per year).

If you have credit card debt or need to finance a big purchase, the potential savings on interest from using a Reflect Card can outweigh the lack of rewards.

The intro APR of this credit card can save you over $2,200 in interest if you have a $10,000 balance and plan to pay it off over 21 months. However, keep in mind that the balance transfer fee of $500 will reduce your savings to around $1,700.

Credit score needed for the Wells Fargo Reflect Card

While Wells Fargo does not publicly disclose a credit score requirement for the Reflect Card, it is generally recommended to have a good to excellent credit score to increase the chances of approval.

Several credit scoring models exist, such as VantageScore and FICO® Score. These scores, which range from 300 to 850, are derived from your credit reports obtained from the three major credit reporting agencies: Experian, Equifax, and TransUnion.

A credit score's range varies depending on the scoring model and typically considers factors such as payment history, amounts owed, credit history length, new credit, and credit mix.

Typically, credit scores are classified as very poor to excellent. For instance, FICO Scores are divided into these categories:

• Very poor: 300 to 579
• Fair: 580 to 669
• Good: 670 to 739
• Very good: 740 to 799
• Excellent: 800 to 850

What to do if you aren't approved for the Wells Fargo Reflect Card

To qualify for the Wells Fargo Reflect® Card, a healthy credit score is necessary. Unfortunately, many of the top intro-APR and balance transfer cards also require higher credit scores. If you need to improve your credit, a secured credit card may be a good option. These cards typically require an upfront deposit but have high approval rates.

Alternative credit card to consider

Although the Discover it® Secured Credit Card doesn't offer an intro-APR, it compensates with substantial rewards, particularly for an effortless secured credit card.

You will receive 2% cash back on gas station and restaurant purchases of up to $1,000 per quarter, and 1% cash back on those purchases after that. All other purchases earn 1% cash back.

For the first year, you effectively double the cash back you earn with Discover's welcome offer.

Improve your credit

Developing the habit of paying your bills on time and in full is crucial for improving your credit score. Consistently doing so will enhance your payment history and keep your outstanding debts low, which are two critical factors that determine your credit score.

There are tools available that can help boost your credit score quickly. Services such as Experian Boost™ and eCredable Lift® enable you to add extra activity to your credit report that is typically not included. This can include payments made to utility providers and streaming services.

While Experian Boost affects only your Experian credit report, eCredable Lift modifies your TransUnion report. Additionally, eCredable Lift adds both positive and negative activity to your credit report, so be cautious when adding negative payment information to your account, as it could negatively impact your credit score.

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Bottom line

The Wells Fargo Reflect® Card is notable for its intro APR of no interest on purchases and balance transfers for 21 months. However, it may be challenging to obtain this card as it requires a good to excellent credit score. If you are unable to qualify for this card, you may want to consider a credit card for bad credit, which can help you establish credit history or improve your credit score if you pay it on time and in full.

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Not all payments are eligible for boosting credit scores, and some users may not see an improvement in their approval odds. Additionally, not all lenders use Experian credit files or scores that are impacted by Experian Boost™. For more information, please visit our website.

For rates and fees of the Discover it Secured, click here.