A 0% intro APR lets you pay off big purchases over time interest free
It's easier to pay large expenses over time, in monthly installments. But it's normally cheaper to pay in full upfront, because you won't get charged interest. With this Wells Fargo card, you get the best of both worlds.
This card has a 0% intro APR on purchases for the first 12 months from account opening. After that, the go-to 20.24%, 25.24%, or 29.99% Variable APR applies going forward. So if you have a $4,500 home repair that you can't pay right now, you could open this card and pay it off with 12 monthly payments of $375.
A quick word of caution: Only use this benefit if you really need it. Some people see a 0% intro APR as an excuse to spend more. You're still going into debt, even if you aren't getting charged interest during the intro period. It's better to avoid debt when you can, especially credit card debt.
Save on some of the most common credit card fees
This card has no annual fee, which is always important if you're trying to keep costs down. It also has no foreign transaction fee. You won't need to pay an extra 3% on purchases you make during international trips, like you would with a lot of cards.
With no foreign transaction fee and its other travel perks, this is one of the better travel credit cards. It also helps that this is a Visa® Signature card. Visa and Mastercard are the two most widely accepted payment networks. Their cards are more likely to be accepted outside the United States than American Express and Discover cards.
Complimentary insurance coverage for your cellphone and rental cars
The Wells Fargo Autograph℠ Card has a couple of useful extra protections:
- Cellphone protection: Considering how expensive smartphones are to replace, it's always a good idea to have insurance for yours. If you pay your cellphone bill with this Wells Fargo card, it includes complimentary protection for damage, theft, and involuntary and accidental parting. The coverage limit is $600 per claim (with a $25 deductible) and two claims per 12-month period.
- Auto rental collision damage waiver: It seems like every time you rent a car, you're pressured to pay extra for insurance. When you pay with this Wells Fargo card, you can safely skip that. Its rental car insurance covers damage and theft.
Drawbacks to know about
Since this is a well-rounded card, there aren't any serious issues. But there are a few perks it doesn't have that many of its competitors do.
The 0% intro APR isn't the longest and doesn't apply to balance transfers
While this card has a 0% intro APR, that's not its strong suit. It lasts for 12 months from account opening, which is about average. There are other credit cards with a 0% intro APR for 15 months, 18 months, and even as long as 21 months.
Whether this matters depends on how much you need to spend and how long it will take you to pay off. For example, if you're buying furniture that you expect to pay off in six to eight months, the Wells Fargo Autograph℠ Card will give you more than enough time. But if you need to borrow $10,000 or more and pay it off in years, not months, then you'll want the longest 0% intro APR you can find.
This card's 0% intro APR doesn't apply to balance transfers, either. Those have the go-to 20.24%, 25.24%, or 29.99% Variable APR from the beginning. If you're dealing with credit card debt, then you'll need a balance transfer card.
Related: The Ascent's Best Balance Transfer Credit Cards Hub
Missing travel and purchase protections that other cards offer
Some credit cards are loaded with complimentary protections. They may offer:
- Purchase protection (covering damage or theft)
- Extended warranty coverage
- Return protection
- Lost and delayed luggage reimbursement
- Trip delay and cancellation insurance
With this Wells Fargo card, you get none of the above. It has cellphone protection and an auto rental collision damage waiver, to be fair. But that still leaves a lot of common situations where you're not protected.
For example, I always prefer to use credit cards with purchase protection for expensive items, like electronics. If my new iPad gets dropped and damaged, or stolen at a cafe, I know I can file a claim with my credit card. Even when I don't actually need to use this benefit, it gives me peace of mind. If those types of protections are important to you, check out more credit card reviews to find a better match.