Wells Fargo Reflect Card review: One of the longest 0% intro APR offers available with no annual fee

Americans may be worried about upcoming heavy spending — or even overspending for some — as they gear up for another holiday season. To avoid racking up credit card interest charges on your purchases, the Wells Fargo Reflect^® Card has an excellent introductory offer for consumers: 21 months of no-interest financing from account opening on your purchases or qualifying balance transfers (after, 17.49%, 23.99%, or 28.24% variable APR).

But is the best card for your wallet? CNBC Select reviews the Wells Fargo Reflect card, analyzing its low intro APR and other benefits to help you decide if it's the best card for you.

Many credit cards come with welcome offers that give users cash back or travel rewards after meeting a specific spending threshold. The Wells Fargo Reflect card doesn't come with a welcome bonus in that form, but the core benefit of the card can be considered a bonus.

This card gives cardholders an introductory 0% APR for 21 months from account opening on purchases and qualifying balance transfers; 17.49%, 23.99%, or 28.24% variable APR thereafter; balance transfers made within 120 days from account opening qualify for the intro rate, BT fee of 5%, min $5.

This offer exceeds any other 0% intro APR card offer currently available — you'll have nearly two years of interest-free financing with the Reflect card.

The intro 0% offer is enticing, but the card comes with additional benefits to consider:

• Cell phone protection — get up to $600 of cell phone protection against damage or theft when you pay your monthly cell phone bill with your eligible Wells Fargo card (subject to a $25 deductible).
• Roadside dispatch
• Access to My Wells Fargo Deals
• Zero liability on fraudulent purchases

The card does not have any spending incentives in the form of cashback or travel rewards, but if flexible financing and protecting your cell phone is a priority to you, the Wells Fargo Reflect Card may be a great fit.

The Wells Fargo Reflect Card doesn't have an annual fee. However, it has a 3% foreign transaction fee. You'll want to look at cards that have no foreign transaction fees if you plan on traveling abroad.

Late payment fees can be up to $40. (See terms).

Select analyzed two other 0% intro APR credit cards against the Wells Fargo Reflect Card to see how they match up with one another.

Wells Fargo Reflect Card vs. Citi® Diamond Preferred® Card

The Citi Diamond Preferred Card is a great choice for purchasing flexibility as its 0% intro APR runs for 21 months on balance transfers and 12 months on purchases from date of account opening, 16.49% - 27.24% variable after that. Balance transfers must be completed within 4 months of account opening and there is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5). (see rates and fees.)

If you're deciding between the two cards, they are nearly identical. Your decision could simply come down to the preference of which bank you want to do business with.

Wells Fargo Reflect Card vs. Chase Freedom Unlimited®

The Chase Freedom Unlimited (see rates and fees) gives a bit more in rewards, but a bit less in interest free purchasing power.

This card offers excellent potential to earn cash back, new cardholders earn 5% cash back on travel purchased through Chase Travel℠, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases.

And if you need an interest-free period, you will have 0% intro APR for the first 15 months on new purchases and balance transfers; 18.24% - 27.74% variable thereafter. There's an intro balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater, on transfers made within 60 days of account opening. After that it's either $5 or 5% of the amount of each transfer, whichever is greater.

Two factors should influence your choice when deciding between the two cards: how much you value the cash back you can earn and the six-month difference in the two cards' interest-free periods. If you don't value the cash-back rewards and need to stretch your purchases out as far as possible, the Wells Fargo Reflect Card will be the better option. If you only need interest-free financing for 15 months or less, the Chase Freedom Unlimited is the way to go.

The Wells Fargo Reflect^® Card is best for consumers who need flexibility to pay their purchases back over an extended period, without accruing credit card interest.

For example, if you purchase a new iPhone, you may shell out around $1,200, after taxes and accessories. If you stretch that purchase out over the entire 21 months of the intro APR period, your monthly payment would be roughly $57 per month. And if you pay your cell phone bill with the card, you will have a complimentary insurance policy on your phone.

Keep in mind that there are no spending incentives on the card, such as cashback, points or miles. So if you value those rewards on your purchases you may want to consider a rewards credit card.

The Wells Fargo Reflect^® Card is an excellent credit card with 0% intro APR period. Its 21-month offer is the best currently available, and if you are looking for flexibility for your upcoming purchases or a balance transfer — this card is strongly worth considering.

However, be sure that if you're planning on spending a large amount that you should create a budget first. While this card gives repayment flexibility, it's never wise to overspend because you can stretch out your payments.

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 review 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.