Latest news with #ActiveCash®Card
CNBC
28-05-2025
- Business
- CNBC
What happens when my 0% APR period ends?
A 0% APR credit card can be a helpful financial tool when you need to finance a large purchase or consolidate outstanding credit card balances. You can get up to 24 months of zero interest, making it easier to make payments over a longer period without going into debt. But these types of credit cards are really only best utilized when you have a payment plan in place so that when the introductory 0% APR period ends, you're not then collecting interest on a large balance. Here's more on what happens when your interest-free period ends, plus how to manage a possible ongoing balance when that happens. Whether you're using a 0% APR card that offers an interest-free period on new purchases, balance transfers or both, that grace period doesn't last forever. Some credit cards offer introductory 0% APR periods for as little as 12 months while some offer periods for as long as two years. If you're looking for a card with a shorter 0% APR window, the Wells Fargo Active Cash® Card offers an intro APR for 12 months on purchases and qualifying balance transfers (after, 19.24%, 24.24% or 29.24% variable APR) and earns unlimited 2% cash rewards on purchases, plus the card has a $0 annual fee. On Wells Fargo's site On Wells Fargo's site Good to Excellent670–850 19.24%, 24.24%, or 29.24% Variable APR $0 Earn a $200 cash rewards bonus See rates and fees. Terms apply. The Wells Fargo Active Cash® Card is great if you want simplicity thanks to its flat-rate 2% unlimited cash rewards on purchases and $0 annual balance transfer fee of 3% for 120 days from account opening, then up to 5%, min: $5 3% If you'd prefer one that gives you a bit more time, the U.S. Bank Shield™ Visa® Card has an intro 0% APR on purchases and eligible balance transfers that's double the length, lasting 24 billing cycles (after, 17.74% to 28.74% variable APR). The card comes with 4% cash back on prepaid air, hotel and car reservations booked directly in the Rewards Center and a $20 annual statement credit for 11 consecutive months of purchases. Personal and small business credit cards issued by U.S. Bank are currently not available on CNBC Select. Click "Learn More" to review other credit card offers. Personal and small business credit cards issued by U.S. Bank are currently not available on CNBC Select. Click "Learn More" to review other credit card offers. U.S. Bank cards are currently not available on CNBC Select but you can check out our marketplace to compare offers from other issuers including American Express and Chase. Good to Excellent670–850 See terms See terms See terms *See rates and fees, terms apply. Information about personal and small business credit cards issued by U.S. Bank has been collected independently by CNBC Select and has not been reviewed or provided by the issuer prior to publication. Regardless of the time frame, once your APR period ends, you'll begin accruing interest on any unpaid balance at the rate listed on your card's agreement terms. (You can often find this rate via your online account or contact your issuer directly.) This is why we always suggest having a specific plan in place to pay off your balance by the time the 0% APR period ends. One example is dividing how much you owe over the number of months in the APR period, so you know how much to pay each month to get to zero before interest kicks in. Otherwise, you'll be stuck with a ballooning balance now due that's going to start collecting double-digit interest. And don't forget that even with a 0% APR card, you still have to make monthly minimum payments at the very least. An issuer can end the interest-free period if you miss a credit card payment. So, you weren't able to tackle the entire balance by the time your 0% APR period ended; now what? While this seems like the obvious answer, with how high credit card interest rates can be, this type of debt should almost always be your priority. This is sometimes referred to as the avalanche method, which entails paying off the debt that has the highest APR first. If you're at a point where you're considering outside help, exploring some debt relief companies can at least provide you with some more information. These companies negotiate with your creditors to help get your balance lowered, but the negotiation can come with some hoops you have to jump through, and success isn't always guaranteed. Offers in this section are from affiliate partners and selected based on a combination of engagement, product relevance, compensation, and consistent Debt Relief has resolved over $19 billion in outstanding debts since 2002. It offers free credit card debt relief in 2011, Accredited Debt Relief has helped clients resolve over $1 billion in debt. While you can request an extension via your financial institution, it's unlikely that this would be approved, but there are some credit card fees you might be able to waive. Yes, it's generally recommended to keep the credit card open to help boost your available credit and credit history, with an exception being for high-annual-fee cards that you don't intend to use. The length of your exact 0% APR period is determined by the card you're approved for, but six to 24 months, or billing cycles, is a common range. Money matters — so make the most of it. Get expert tips, strategies, news and everything else you need to maximize your money, right to your inbox. Sign up here. At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every credit card article is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of credit card products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.
CNBC
29-04-2025
- Business
- CNBC
Wells Fargo Active Cash vs. Wells Fargo Reflect: Do you want rewards or an intro APR?
The Wells Fargo Active Cash® Card and Wells Fargo Reflect® Card can both save you money — but in different ways. Which one is right for you depends on whether you prefer a longer intro-APR period or rewards. In other words, would you rather avoid interest (for a time) or earn cash back? Below, CNBC Select dives into the details of what each credit card offer, so you make the best choice for you. None None $0 0% intro APR for 21 months from account opening on purchases and qualifying balance transfers. 17.24%, 23.74%, or 28.99% variable APR 5%, min: $5 3% Excellent/Good See rates and fees, terms apply. Unlimited 2% cash rewards on purchases Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months $0 0% intro APR for 12 months from account opening on purchases and qualifying balance transfers. 19.24%, 24.24%, or 29.24% Variable APR Intro balance transfer fee of 3% for 120 days from account opening, then up to 5%, min: $5 3% Excellent/Good See rates and fees, terms apply. The Wells Fargo Active Cash® Card and Wells Fargo Reflect® Card both have no annual fee. Winner: Tie With the Wells Fargo Active Cash® Card, you can earn $200 in cash rewards after you spend $500 in purchases within the first three months. You'll also receive an intro APR period for purchases and qualifying balance transfers that last 12 months. The Wells Fargo Reflect® Card has no welcome bonus, but you'll receive a longer intro APR offer, lasting 21 months. That makes the card more useful if you have lots of high-interest credit card debt. However, the Active Cash provides the opportunity to earn an upfront cash bonus and has a lower intro-balance transfer fee. Winner: Wells Fargo Active Cash The Wells Fargo Active Cash® Card is a flat-rate 2% cash-back credit card. The Active Cash earns 2% in cash rewards on every purchase, which you can redeem for gift cards, statement credits, direct deposits (into eligible Wells Fargo accounts) and more. The Wells Fargo Reflect® Card doesn't earn rewards. Winner: Wells Fargo Active Cash The Wells Fargo Reflect® and Wells Fargo Active Cash® both provide some basic protections, including: The cell phone coverage can be valuable because you can be reimbursed up to $600 per claim for up to two claims every 12 months (a $25 deductible applies). However, the rental car insurance is secondary, so it only covers what your other insurance doesn't. The Active Cash Card also has travel and emergency assistance services and provides access to the Visa Signature Concierge and Luxury Hotel Collection. Winner: Wells Fargo Active Cash Offers in this section are from affiliate partners and selected based on a combination of engagement, product relevance, compensation, and consistent availability. Good to Excellent670–850Earn 100,000 bonus points On Chase's site See rates and fees. Terms apply. Good to Excellent670–850Earn $250 cash back On Chase's site See rates and fees. Terms apply. Overall, the Wells Fargo Active Cash® Card is a better credit card for most people. It has a straightforward and rewarding cash-back program. Plus, you'll get an intro-APR offer, which means you can save money in multiple ways with the Active Cash Card. The Wells Fargo Reflect® does one thing and it does it exceptionally well—reduce your interest payments. If you're working your way out of credit card debt or need to finance a purchase, the Reflect card can be a better choice. Just be sure to consider this card's higher balance transfer fee when you're running the numbers. Many rewards cards require you to have a good to excellent credit score to qualify. That makes higher-tier rewards cards an unlikely option for anyone with poor credit or no credit history. If you have trouble paying your bills on time, a card with a 0% APR period might tempt you to spend more than you can handle. Money matters — so make the most of it. Get expert tips, strategies, news and everything else you need to maximize your money, right to your inbox. Sign up here. At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every personal finance article is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of financial products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.
