Wells Fargo Mirror vs. Energetic Money [2024]

The Wells Fargo Mirror and Wells Fargo Energetic Money are two of this financial institution’s hottest bank cards. Although each has a transparent profit, the Energetic Money is a greater on a regular basis card for most individuals. After all, as a result of every particular person’s wants are totally different, it’s necessary to weigh the professionals and cons of every card to decide on the one which’s finest to your monetary scenario.

Let’s check out the highest options of every card and the way they stack up to one another.

	Wells Fargo Mirror® Card	Wells Fargo Energetic Money® Card
Card kind	Stability switch	Money again
FinanceBuzz star rankings	4.9 FinanceBuzz writers and editors rating playing cards primarily based on various goal options in addition to our knowledgeable editorial evaluation. Our companions don’t affect how we fee merchandise.	5.0 FinanceBuzz writers and editors rating playing cards primarily based on various goal options in addition to our knowledgeable editorial evaluation. Our companions don’t affect how we fee merchandise.
FinanceBuzz worth calculation1	12 months one earnings: $0 12 months two earnings: $0	12 months one earnings: $950 12 months two earnings: $750
Annual charge	$0	$0
Welcome bonus	Profit from a protracted introductory APR interval on purchases and qualifying stability transfers	$200 money rewards bonus after spending $500 in purchases within the first 3 months
Incomes fee	None	Earn limitless 2% money rewards on purchases
Redemption strategies	None	Assertion credit, ATM money withdrawal (with eligible Wells Fargo ATM or debit card), Present playing cards, PayPal checkout, Charitable donations, Merchandise, Journey
Intro APR	0% intro APR for 21 months from account opening on qualifying stability transfers, then 17.74%, 24.24%, or 29.49% Variable APR 0% intro APR on purchases for 21 months from account opening, then 17.74%, 24.24%, or 29.49% Variable APR	0% intro APR for 12 months from account opening on qualifying stability transfers, then 19.74%, 24.74%, or 29.74% Variable APR 0% intro APR on purchases for 12 months from account opening, then 19.74%, 24.74%, or 29.74% Variable APR
Journey perks		Roadside dispatch Visa Signature Lodge Assortment 24/7 Visa Signature Concierge
Different advantages	Mobile phone safety (topic to a $25 deductible)	Mobile phone safety (topic to a $25 deductible)
Overseas transaction charge	3%	3%
Credit score wanted	Glorious, Good	Glorious, Good
	Be taught extra	Be taught extra

When to go along with the Wells Fargo Mirror

The Wells Fargo Mirror is a no-annual-fee card which may be the suitable selection in two particular conditions:

• You’re paying off bank card debt
  
• You’re planning a big buy

Let’s look a bit extra carefully at why this card is an efficient selection in these conditions:

You’re paying off bank card debt

The more than likely motive somebody would go for the Wells Fargo Mirror is that if they’re making an attempt to pay down bank card debt and need to do a stability switch.

The Wells Fargo Mirror presents:

• 0% intro APR for 21 months from account opening on qualifying stability transfers (then 17.74%, 24.24%, or 29.49% Variable)
  
• 0% intro APR for 21 months from account opening on purchases (then 17.74%, 24.24%, or 29.49% Variable)

These introductory durations are among the most beneficiant available on the market. Loads of playing cards provide 0% intro APR for durations starting from six months to 18 months, however few others provide 0% intro APR for 21 months from account opening on qualifying stability transfers.

Why is that this so necessary? Let’s say you’ve $5,000 of bank card debt at a 24% rate of interest, and also you pay $150 per 30 days. You request a stability switch inside 120 days of opening the account and pay a 5% stability switch charge totaling $250.

Assuming you proceed making $150 funds, you’d nonetheless have a stability of $2,100 after the 21 months, however you’ll have saved a big quantity in curiosity. And in the event you paid an additional $100 per 30 days, you’d pay your whole stability off inside 21 months and pay no curiosity in any respect.

I’ve been within the place of my bank card invoice and realizing simply how a lot of my cash was going towards curiosity every month and the way lengthy it could take to develop into debt-free if one thing didn’t change. Having personally taken benefit of a protracted 0% APR intro interval just like the Wells Fargo Mirror presents, I can inform you it may well make a world of distinction in your debt payoff journey.

You’re planning a big buy

Along with being helpful for stability transfers, the Wells Fargo Mirror is also a very good choice for giant purchases. The prolonged introductory APR applies to each purchases and qualifying stability transfers, permitting you to unfold a big buy out over an extended interval.

Utilizing a card with a protracted 0% intro APR is usually a good choice whether or not you’re making a deliberate buy or overlaying an emergency expense. Simply be sure you run the numbers to determine how a lot you’ll need to pay every month to pay it off earlier than the intro interval ends.

It’s price noting that the Wells Fargo Energetic Money additionally presents a 0% intro APR for 12 months from account opening on purchases (then 19.74%, 24.74%, or 29.74% Variable). For somebody paying off a variety of debt or making a big buy, the additional 9 months the Wells Fargo Mirror presents will make a giant distinction.

For extra particulars, try our Wells Fargo Mirror Card assessment.

When to go along with the Wells Fargo Energetic Money

Now that we’ve talked about when the Wells Fargo Mirror is an efficient selection, let’s discuss a couple of conditions the place you need to select the Wells Fargo Energetic Money:

• You need an on a regular basis spending card
  
• You need a welcome bonus
  
• You need a card with additional protections

Let’s discuss why the Wells Fargo Energetic Money is an efficient selection in these conditions.

You need an on a regular basis spending card

The Wells Fargo Energetic Money is the clear winner if you need a bank card that rewards you to your spending. This card permits you to earn limitless 2% money rewards on purchases.

The Wells Fargo Energetic Money has an easier rewards construction than a variety of playing cards. It doesn’t provide bonus classes the place you’ll be able to earn elevated rewards. Then again, the flat fee is extra beneficiant than the 1% many playing cards provide on spending in non-bonus classes.

How does that stack up over time? Let’s say you cost $3,000 to your bank card every month and pay it off in full every month. You’d earn $60 per 30 days in money rewards, which provides as much as $720 per yr.

Redemption choices for money rewards on the Energetic Money Card embody:

• Assertion credit
  
• ATM money withdrawal in $20 increments utilizing a Wells Fargo ATM or debit card
  
• Bodily or digital present playing cards
  
• Making purchases with PayPal checkout
  
• Charitable donations
  
• Merchandise
  
• Journey

Examine that money again with the Wells Fargo Mirror, which doesn’t provide any spending rewards, and it’s simple to see why this card wins.

You need a welcome bonus

The Wells Fargo Energetic Money can be the higher choice between these two playing cards if you need a welcome bonus. Welcome bonuses are generally discovered on rewards playing cards and permit new cardholders to earn bonus rewards after spending a sure sum of money over a sure time interval.

The Wells Fargo Energetic Money Card presents $200 in money rewards after you spend $500 within the first 3 months. The Wells Fargo Mirror Card, nonetheless, doesn’t provide a welcome bonus.

Along with beating out the Wells Fargo Mirror, the Wells Fargo Energetic Money’s welcome bonus is on par with among the different high no-annual-fee rewards playing cards.

Each of those Wells Fargo playing cards provide a few additional advantages, together with cellphone safety (topic to a $25 deductible), roadside dispatch, and entry to My Wells Fargo Offers.

Nevertheless, the Wells Fargo Energetic Money presents a couple of additional perks that assist it stand out from the Wells Fargo Mirror. You’ll additionally get entry to auto rental insurance coverage and journey emergency help when touring anyplace on this planet.

With the Wells Fargo Energetic Money, you’ll additionally get Visa Signature privileges, together with Visa Signature Concierge providers and Visa Signature Luxurious Lodge Assortment entry.

Total, the Energetic Money beats out the Mirror for its included advantages.

For extra particulars, try our Wells Fargo Energetic Money Card assessment.

What each playing cards excel at

The Wells Fargo Mirror is taken into account a stability switch card due to its beneficiant intro APR presents, whereas the Energetic Money falls into the cashback bank card class.

However regardless of these totally different classes, each playing cards have many similarities:

• No annual charge: The Wells Fargo Mirror Card has a $0 annual charge, and the Energetic Money Card has a $0 annual charge.
  
• Intro APR on stability transfers: The Mirror Card presents 0% intro APR for 21 months from account opening on qualifying stability transfers, then 17.74%, 24.24%, or 29.49% Variable APR. The Energetic Money Card presents 0% intro APR for 12 months from account opening on qualifying stability transfers, then 19.74%, 24.74%, or 29.74% Variable} APR. These are intro APR presents that compete with the finest 0% intro APR bank cards.
  
• Intro APR on purchases: Each playing cards even have intro APR presents on purchases. Mirror presents 0% intro APR on purchases for 21 months from account opening after which 17.74%, 24.24%, or 29.49% Variable APR. Energetic Money presents 0% intro APR on purchases for 12 months from account opening, then 19.74%, 24.74%, or 29.74% Variable APR.
  
• Mobile phone safety: Each playing cards provide cellphone safety in the event you pay your month-to-month cellphone invoice along with your card. This profit covers as much as two claims per yr at a most of $600 per declare, with a $25 deductible.
  
• Roadside dispatch: A pay-per-use roadside help program is out there from the Mirror and Energetic Money playing cards. You don’t have to pay for a membership, however you’ll pay a set worth for the provided providers. This consists of towing, tire adjustments, jump-starts, lockout service, gas supply, and extra.
  
• Visa: As a result of each playing cards use the Visa community to course of funds, they’ll work nearly anyplace bank cards are accepted — that’s over 200 nations and territories worldwide. Simply remember the fact that making purchases overseas would doubtless incur international transaction charges. These charges are 3% with Mirror and three% with Energetic Money.
  
• My Wells Fargo Offers: These are presents from Wells Fargo in partnership with retailers and distributors to supply reductions or offers on sure purchases. Most Wells Fargo playing cards — together with debit playing cards — provide these offers. Obtainable presents could be present in eligible debit or bank card accounts.

It’s price noting that regardless of having a few journey advantages, neither of those Wells Fargo playing cards is known as a journey bank card. Each include international transaction charges and lack among the perks different journey playing cards provide. Try our record of the finest journey bank cards for higher playing cards with journey advantages.

Which card must you select?

The Wells Fargo Mirror and Wells Fargo Energetic Money playing cards have some similarities, however they’re finally very totally different playing cards. And the excellent news is it’s truly fairly simple to decide on between them.

Whereas each provide introductory APR durations, the Wells Fargo Mirror card presents extra time than the Wells Fargo Energetic Money, making it your best option for stability transfers and enormous purchases. Then again, in contrast to the Mirror, the Energetic Money allows you to earn and redeem rewards. This makes it the clear winner for on a regular basis spending.

There’s additionally nothing that claims you’ll be able to’t have each playing cards in your pockets. If you wish to make a big buy or do a stability switch whereas additionally having an awesome on a regular basis rewards card, having each the Wells Fargo Mirror and Energetic Money may make sense for you.

In my private expertise, you’ll have essentially the most success having a couple of totally different playing cards, every of which is finest for a selected scenario, versus having only one card that’s okay at a couple of various things.

FAQ