If you're looking for a credit card with a generous introductory APR period and no annual fee, you may be considering the Wells Fargo Reflect Card and the Citi Diamond Preferred Card. The Wells Fargo Reflect Card is generally better for longer financing needs, offering a 0% intro APR for 21 months on both purchases and balance transfers. The Citi Diamond Preferred Card provides a 0% intro APR for 12 months on purchases and 21 months on balance transfers, but it also includes access to Citi Entertainment.
Wells Fargo Reflect® Card
vs. Citi® Diamond Preferred® Card
Both cards have ultra long 0% APR intro periods for balance transfers, but the Wells Fargo Reflect Card edges out the Citi Diamond Preferred Card due to its extended intro APR on purchases.
Updated: November 4, 2024
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- Regular APR17.49%, 23.99%, or 29.24% variable17.49% - 28.24% variable0% APR Offer0% for 21 months on purchases0% for 12 months on purchasesBalance Transfer Offer0% for 21 months on balance transfers0% for 21 months on balance transfersAnnual Fee$0$0Rewards Summary-This card doesn't offer cash back, miles, or points-This card doesn't offer cash back, miles, or pointsRecommended Credit670-850 (Good to Excellent)670-850 (Good to Excellent)Not sure?
In the matchup of the Wells Fargo Reflect® Card versus Citi® Diamond Preferred® Card, the Wells Fargo Reflect® Card edges ahead with a longer 0% APR introductory period on purchases. Both cards offer substantial balance transfer opportunities, but the absence of a penalty APR makes the Wells Fargo Reflect® Card more forgiving for financial missteps. While neither card offers rewards, those seeking a longer cushion for purchases will find the Wells Fargo Reflect® Card more suitable. Conversely, the Citi® Diamond Preferred® Card is still a strong contender for balance transfers with its comparable introductory offer.
Wells Fargo Reflect® Card vs. Citi® Diamond Preferred® Card: Which Is Better for You?
You might prefer the Wells Fargo Reflect® Card if: You're planning a significant purchase or you're considering transferring a balance and you want a generous amount of time to pay it off without interest. The Reflect® Card offers a 0% intro APR for 21 months on both purchases and balance transfers, which is one of the longest available periods in the market. This could provide substantial savings on interest, making it a strong option for those with existing high-interest debt or upcoming expenses. Additionally, with a late fee of up to $40, it's slightly more forgiving than its competitor if a payment is missed.
You might prefer the Citi® Diamond Preferred® Card if: you like Citi and you'd like to start building a payment history with them. The Citi® Diamond Preferred® Card also offers a 0% intro APR for 21 months on balance transfers, its 0% intro APR on purchases lasts for 12 months, which is shorter than the Reflect® Card's offer. The Wells Fargo Reflect is the stronger card, it isn't by much.
MoneyGeek's Take on the Wells Fargo Reflect® Card
The Wells Fargo Reflect Card is a standout option for those looking to consolidate debt and enjoy a lengthy introductory APR period. With a MoneyGeek balance transfer card rating of 5 out of 5, it's among the top choices for balance transfers. The card offers an impressive 0% introductory APR for 21 months on both purchases and balance transfers, which can be a significant benefit for individuals with existing debt looking to minimize interest charges.
While the card does not offer rewards or cash back, its value lies in its potential to help cardholders manage their finances more effectively during the introductory period. After the intro period, the APR becomes variable at 18.24%, 24.74% or 29.99%. The Wells Fargo Reflect Card also boasts no annual fee, making it a cost-effective option for those who prioritize savings on interest and fees over earning rewards.
Moneygeek.com credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.
The Wells Fargo Reflect® Card stands out with its 21-month 0% intro APR for both balance transfers and purchases, which is among the longest on the market. With no annual fee, it’s great if you’re managing multiple high-interest credit card balances. This card is a top pick for balance transfers with maximum financial flexibility.
- PROS
- 21-month 0% intro APR on balance transfers and purchases
- No annual fee
CONS- No rewards or cash back
- 0% intro APR on purchases and qualifying balance transfers for 21 months from account opening; 18.24%, 24.74% or 29.99% variable APR after that.
- Balance transfers made within 120 days qualify for the intro rate at a fee of 5% (minimum $5).
- $0 annual fee.
- Get up to $600 of cell phone protection against damage or theft when you pay your monthly cell phone bill with your eligible Wells Fargo card (subject to a $25 deductible).
- Through My Wells Fargo Deals, you can get personalized deals from various merchants. It's an easy way to earn cash back as an account credit when shopping, dining or enjoying an experience simply by using an eligible Wells Fargo Credit Card.
MoneyGeek's Take on the Citi® Diamond Preferred® Card
The Citi® Diamond Preferred® Card, with a MoneyGeek Balance Transfer Score of 4.2 out of 5, is a standout choice for those looking to transfer existing balances. Its most notable feature is the lengthy 21-month 0% introductory offer on balance transfers, which can provide significant breathing room for managing debt. However, it's important to note that this card does not offer rewards or cash back, making it less suitable for those seeking to earn points or miles on their purchases.
With no annual fee and a recommended credit score range of 670 to 850, the Citi® Diamond Preferred® Card is tailored for individuals with good to excellent credit who prioritize debt consolidation over earning rewards. Additional perks include access to Citi Entertainment®, offering special access to tickets for events, concerts, and more. If your financial strategy is centered around minimizing interest on existing debt, this card could be a valuable tool in your wallet.
Moneygeek.com credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.
The Citi® Diamond Preferred® Card has one of the longest 0% intro APR on balance transfers at 21 months. It’s a great pick if you aim to pay off your debt from other cards. It also comes with a year of 0% APR on new purchases but doesn’t offer rewards or a signup bonus.
- PROS
- Lengthy 0% APR period for balance transfers
- No-interest period for purchases
- No annual fee
CONS- No intro balance transfer fee
- No rewards program
Introductory Offers
- Enjoy a 0% Intro APR for 21 months on balance transfers from the date of the first transfer.
- Benefit from a 0% Intro APR for 12 months on purchases from the date of account opening.
- Balance transfers must be completed within four months of account opening, with a fee of $5 or 5% of the transfer amount, whichever is greater.
APRs, Fees, and Penalties
- No annual fee.
- After the introductory period, the variable APR will be between 17.49% and 28.24%, depending on your creditworthiness.
Perks & Benefits
- Enjoy special access to purchase tickets for concerts, sporting events, and dining experiences through Citi Entertainment.
- Get free online access to your FICO Score.
Details Comparison: Wells Fargo Reflect® vs. Citi® Diamond Preferred®
Our breakdown will help compare APRs, fees, required credit, rewards, introductory offers and other features. This side-by-side analysis enables you to weigh the benefits and drawbacks of each card against your financial behavior and goals. Use this section to align card features with your financial needs.
Regular APR
The Citi® Diamond Preferred® Card offers a slightly better regular APR with a range between 18.24% and 28.99% variable, compared to the Wells Fargo Reflect® Card's APR range of 18.24%, 24.74% or 29.99% variable.
Annual Fee
Both the Wells Fargo Reflect® Card and the Citi® Diamond Preferred® Card have no annual fee.
Introductory 0% APRs
The Wells Fargo Reflect Card offers a longer introductory 0% APR period on purchases compared to the Citi Diamond Preferred Card, making it the better choice for those looking to make large purchases and pay them off over time without interest. Both cards provide a 0% introductory APR for 21 months on balance transfers, subject to a 5% transfer fee.
Rewards
Neither the Wells Fargo Reflect® Card nor the Citi® Diamond Preferred® Card offers rewards such as cash back, miles or points. This makes them equal in terms of rewards.
Welcome Offers
Neither the Wells Fargo Reflect® Card nor the Citi® Diamond Preferred® Card currently offer welcome bonuses. This makes them equal in terms of welcome offers.
Recommended Credit Score
Both cards recommend a credit score range between 670 and 850 (good to excellent). Neither card is better based on the recommended credit score alone, as they target the same credit score range.
Penalties and Fees
The Wells Fargo Reflect® Card is better for penalties and fees due to its lack of a penalty APR and a slightly lower maximum late fee compared to the Citi® Diamond Preferred® Card. Both cards charge a cash advance fee, but the absence of a penalty APR with the Wells Fargo Reflect® Card offers a significant advantage.
Issuer Satisfaction
Citi has a slight edge in issuer satisfaction over Wells Fargo.
Other Features & Perks
The Citi® Diamond Preferred® Card offers exclusive access to Citi Entertainment®, allowing cardholders to purchase tickets to thousands of events, including concerts, sporting events and dining experiences. On the other hand, the Wells Fargo Reflect® Card provides valuable cell phone protection, which can save money on insurance costs.
FAQ: Wells Fargo Reflect® vs. Citi® Diamond Preferred®
What are the introductory APR offers for the Wells Fargo Reflect® Card and the Citi® Diamond Preferred® Card?
Both cards offer a 0% introductory APR for 21 months on purchases and balance transfers.
How do the fees for balance transfers compare between the two cards?
Both cards charge a 5% fee for balance transfers, with a $5 minimum.
What credit score is needed for the Wells Fargo Reflect® Card and the Citi® Diamond Preferred® Card?
Both cards recommend a credit score between 670 and 850, which falls into the good to excellent category.
Do either of the cards offer rewards or cash back?
Neither card offers rewards such as cash back, miles or points.
What are the late fees for the Wells Fargo Reflect® Card and the Citi® Diamond Preferred® Card?
The Wells Fargo Reflect® Card has a late fee of up to $40, while the Citi® Diamond Preferred® Card charges up to $41.
About Doug Milnes, CFA
Doug Milnes is a CFA charter holder with over 10 years of experience in corporate finance and the Head of Credit Cards at MoneyGeek. Formerly, he performed valuations for Duff and Phelps and financial planning and analysis for various companies. His analysis has been cited by U.S. News and World Report, The Hill, the Los Angeles Times, The New York Times and many other outlets.
Milnes holds a master’s degree in data science from Northwestern University. He geeks out on helping people feel on top of their credit card use, from managing debt to optimizing rewards.
Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity. Learn more about our editorial policies and expert editorial team.
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