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Forbes
5 days ago
- Business
- Forbes
NEA RateSmart Credit Card Review 2025: It's Got Great Potential
Sharpen your pencils, it's time to save money. The NEA RateSmart® Credit Card* offers an ongoing APR that's well below the average for those who qualify and an introductory low APR on purchases and balance transfers. An intro offer can kick off savings, but a low ongoing APR can help stave off high interest debt. This card offers both features, plus carries no annual fee—all benefits for those who typically carry a balance. Just be aware that other cards have longer intro offers, and getting an APR at the low end of the range depends on your credit profile. The card's ongoing APR after the intro offer is 14.24% - 24.24% variable. The lower end of that range is well below the current average credit card APR on accounts assessed interest of 21.91% (as of February 2025, according to the Federal Reserve). That means it's a good APR because you'll pay less in finance charges than you would with a higher APR, although all credit card debt is expensive. If your short-term goal is to knock out existing debt or gain extra time to pay off a big purchase, this card can help you do that. It offers a 0% intro APR for 18 billing cycles on purchases and balance transfers made within 60 days of account opening, then a 14.24% to 24.24% variable APR applies. An intro balance transfer fee of 3% of the amount of each transfer applies for transactions made within the first 60 days; 4% thereafter. Why you can trust Forbes Advisor Our credit card editors are committed to bringing you unbiased ratings and information. Advertisers do not and cannot influence our ratings. We use data-driven methodologies to evaluate financial products and companies, so all are measured equally. You can read more about our editorial guidelines and the credit card methodology for the ratings below. Although this card's intro offer is generous in length, there are longer offers on the market. Choosing a card with a longer intro APR offer gives you even more time to pay off your debt. The card's APR range is 14.24% - 24.24% variable. But like nearly all credit cards, you won't know the exact terms you'll get until you submit your application and are approved for the card. Unless you have a pristine credit profile, it's possible you may get an APR with this card closer to the national average or possibly even higher. The NEA RateSmart card comes with a 0% intro APR for 18 billing cycles on purchases and balance transfers made within 60 days of account opening, then a 14.24% to 24.24% variable APR applies. An intro balance transfer fee of 3% of the amount of each transfer applies for transactions made within the first 60 days; 4% thereafter. The no-annual-fee Wells Fargo Reflect® Card (rates & fees) comes with a lengthy 0% intro APR for 21 months from account opening on purchases and qualifying balance transfers. A 17.24%, 23.74%, or 28.99% variable APR applies thereafter. Balance transfers made within 120 days qualify for the intro APR and a balance transfer fee of 5%, min $5 applies. Those who qualify for the lower end of the card's ongoing APR range will get a below-average interest rate, similar to the NEA RateSmart card. But, again, you won't know what exact APR you'll get until you're approved for the card. Although the Reflect card also lacks rewards-earning power, it does come with up to $600 in cellphone protection when you pay for your bill with the card, subject to a $25 deductible. That could be worth more to you than the RateSmart's free once a month museum admission. The Citi Double Cash® Card has no annual fee and comes with a 0% intro APR on balance transfers for 18 months. After that, the standard variable APR will be 18.24% to 28.24%, based on creditworthiness. An intro balance transfer fee of either $5 or 3%, whichever is greater, applies to transfers completed within the first 4 months of account opening. After that, the fee will be 5% of each transfer (minimum $5). That's a comparable offer to the NEA RateSmart card, but it only applies to balance transfers and not purchases too. But the Citi Double Cash also earns 2% cash back on all purchases—1% when purchases are made and another 1% when they're paid off, and earn 5% total cash back on hotel, car rentals and attractions booked with Citi Travel. Depending on your long-term goals with a new credit card, the Double Cash is the better choice if you aren't going to carry a balance once your balance transfer is paid off and the NEA RateSmart card could be the better choice if you know you'll need to carry a balance moving forward. Although the Alliant Visa® Platinum Credit Card* is a credit union credit card, anyone can join. This $0 annual fee card offers a low, ongoing APR of 14.49% - 26.49% variable, which rivals what the NEA RateSmart card offers. Additionally, there's a 0% - 5.99% intro APR for 12 months on purchases and balance transfers, followed by a regular variable APR of 14.49% to 26.49%. A balance transfer fee of either $5 or 2% of the amount of each transfer, whichever is greater, applies. Although the intro offer is for a shorter time, the balance transfer fee is lower with the NEA RateSmart card. That might save you more money in the long run, so it's worth doing the math to see which card will cost you the least overall if you plan to do a balance transfer. You can also find out if you prequalify for the Alliant Visa Platinum Card, something that's not offered with the NEA RateSmart card. Compared to other balance transfer cards, the NEA RateSmart card falls short, as you can find multiple options with longer 0% intro APR offers. When it comes to an ongoing rate, this card does offer the potential for a low ongoing APR rate, but your mileage may vary in terms of what you actually get. The only guarantee is that if approved, you'll get somewhere in the range of 14.24% - 24.24% variable. No issuer discloses what their criteria is to get an APR in the lower range of the spread. If your credit is good (starting at 670 on the FICO scale) or better, you'll have a better chance of getting approved for a lower APR, but otherwise, this card's best attribute may not come with your approval for the card. Forbes Advisor considers a variety of criteria when assigning credit cards a rating. Cards are graded based on numerous factors, including: We give greater weight to the card features we believe cardholders will use most frequently. These factors combine to generate a star rating for each card. To learn more about our rating and review methodology and editorial process, check out our guide on how Forbes Advisor rates credit cards. *The information for the following card(s) has been collected independently by Forbes Advisor: NEA RateSmart® Credit Card, Alliant Visa® Platinum Credit Card. The card details on this page have not been reviewed or provided by the card issuer.
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.
