The Wells Fargo Reflect® Card is a popular option for those looking to save on interest thanks to its industry-leading 0% intro APR for 21 months on purchases and qualifying balance transfers. However, it can also be a bit challenging to qualify for.
One of the key factors in determining your eligibility is your credit score. But what exactly should your credit score look like to improve your chances of approval? Let’s break it down.
What Is the Wells Fargo Reflect® Card?
Before we dive into the specifics of credit score requirements, here’s a quick rundown of the Wells Fargo Reflect® Card’s features.
Key Benefits:
- Introductory 0% APR: Enjoy no interest on purchases and qualifying balance transfers for an incredible 21 months. After this period, a variable APR of 17.24% to 28.99% applies.
- No Annual Fee: More value added to your wallet, with no yearly fees.
- Perks Included: Access to benefits like cell phone insurance (up to $600 per claim with a $25 deductible) and roadside dispatch.
There’s one major downside—this card doesn’t offer traditional rewards or welcome bonuses. Instead, it focuses on helping you manage existing debt or finance large purchases, all while saving on hefty interest fees.
Now that we’ve covered its benefits, it’s important to know if your financial profile fits the eligibility criteria.
Credit Score Needed for the Wells Fargo Reflect® Card
Wells Fargo doesn’t publish a specific credit score requirement for the Reflect® Card, but typically, its target audience falls into the “good” or “excellent” credit score ranges. Here’s what that might mean for you:
- Good Credit: FICO® Score of 670–739
- Very Good Credit: FICO® Score of 740–799
- Excellent Credit: FICO® Score of 800+
If you’re within one of these ranges, especially in the “very good” or “excellent” categories, you’re likely to have strong approval odds for this card. However, if your score falls just below “good,” approval may be harder to secure without a stronger financial history.
How Credit Scores Are Calculated
Your FICO® Score or VantageScore is calculated based on factors like:
- Payment History (35%): Consistently paying on time is crucial.
- Credit Utilization (30%): Keeping balances low compared to your credit limit helps boost scores.
- Length of Credit History (15%): Longer credit histories show financial stability.
- Credit Mix (10%): A diverse range of account types, like loans and credit cards, strengthens your profile.
- New Credit Applications (10%): Multiple recent credit inquiries can impact your score slightly.
Understanding these factors can help you improve weak areas and position yourself for a better shot at getting approved.
Can You Get the Reflect® Card with Fair Credit?
While most applicants with “fair” credit (580–669) may find it difficult to qualify for the Reflect® Card, there are options to consider if your score isn’t quite there yet. You could start by focusing on secured credit cards to build a strong credit history and improve your scores over time.
How to Improve Your Credit Score
If you’re not yet in the “good” range, here are actionable steps you can take to boost your score:
- Pay Bills on Time: Always make your payments by the due date to strengthen your payment history.
- Lower Credit Utilization: Aim to keep your balances below 30% of your available credit limit.
- Dispute Errors: Check your credit report for inaccuracies and have them corrected.
- Limit Credit Applications: Refrain from applying for multiple credit accounts simultaneously.
- Try Boosting Tools: Tools like Experian Boost® allow you to add utility and streaming service payments to your credit history for a score bump.
These strategies can help you qualify for not just the Reflect® Card but also other premium credit options down the line.
What To Do If You’re Declined for the Reflect® Card
If you’re declined for the Wells Fargo Reflect® Card, don’t worry—it happens to many applicants. Take it as an opportunity to further strengthen your credit profile. Here are options to consider:
- Request a Secured Credit Card: Cards like the Discover it® Secured Credit Card help you build your credit while offering rewards like 2% cash back at gas stations and restaurants.
- Review Your Rejection Letter: Lenders must provide reasons for denied applications. Identify the specific factors that hurt your eligibility.
- Work Towards Credit Improvement: Focus on strategies to build your score and reapply after six to twelve months.
Even if the Reflect® Card isn’t an option for you now, this process will help you qualify in the future—and might even open the door to additional high-quality credit cards.
Is the Wells Fargo Reflect® Card Right for You?
The Reflect® Card is a fantastic option if you:
- Have good or excellent credit.
- Need an extended period to pay off large expenses or manage existing credit card debt for no interest.
- Don’t mind a lack of rewards or welcome bonuses.
However, if credit scores or balances hold you back, don’t fret! Consider alternative secured credit cards or credit-building strategies to reach your financial goals.
Final Thoughts!
The Wells Fargo Reflect® Card is designed to help you save big on interest payments, but gaining approval usually requires a strong credit score. If you meet the good-to-excellent credit threshold, this card offers an impressive introductory APR period and key benefits to help you tackle your financial priorities.
Not quite there yet? That’s okay. Improving your credit score is a marathon, not a sprint. By taking consistent steps to build credit, you’ll set yourself up for success—not only with cards like the Reflect® but with a range of financial opportunities.
Want to learn more about improving credit and navigating the world of credit cards? Check out our comprehensive guides for more tips!