This Week in Credit Card News: October 1–7
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New Wells Fargo Reflect Card; New World of Hyatt Business Credit Card from Chase; New benefits for Amex Platinum Card: Walmart+ membership, SoulCycle credits.
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New Wells Fargo Reflect Card — Pay On Time, Extend Your 0% Rate
- Wells Fargo has released a new low-interest card with a unique feature: Wells Fargo Reflect℠ Card.
- The Reflect card stands out from other 0% APR cards by giving you up to three extra months at 0%, as long as you consistently pay on time each month. That’s a nice little reward for being a responsible cardholder, and with that extension the Reflect card boasts some of the longest 0% periods on the market.
- Key features of the Reflect card include:
- Up to three extra months at 0% APR if you make at least the minimum monthly payment throughout the intro and extension periods
- Purchase APR: 0% for 18 months, then 12.99%–24.99% Variable
- Balance Transfer APR: 0% for 18 months, then 12.99%–24.99% Variable
- Balance Transfer fee: 5%, $5 minimum
- Annual fee: $0
- See more credit cards with 0% purchase APRs.
- See more credit cards with 0% balance transfer APRs.
New World of Hyatt Business Credit Card from Chase
- Chase and World of Hyatt have released a new hotel card for small business owners: World of Hyatt Business Credit Card.
- The card offers a nice suite of perks, including a generous helping of points at Hyatt properties, automatic elite members status, and quite a few handy bonus categories. Key features include:
- 9X total points for Hyatt stays (4X Bonus points from the card, 5X Base points from member status)
- 2X Bonus points for
- Airline tickets directly from the airline
- Local transit/commuting
- Social media and search engine advertising
- Car rental agencies
- Gas stations
- Internet, cable, and phone services
- Fitness club and gym memberships
- World of Hyatt Discoverist status
- $100 in Hyatt credits per year: A $50 credit for spending $50 or more, twice per year
- Hyatt Leverage program: Discounts on standard room rates
- Redemption bonus: Spend $50,000 in a calendar year and get 10% of your points back for the rest of the year.
- No foreign transaction fee
- Annual fee: $199
- This is currently the only business card co-branded with Hyatt; the consumer option is the The World of Hyatt Credit Card (Review).
- See more business credit cards for travel, or see more hotel credit cards for consumers.
New Benefits for Amex Platinum Card: Walmart+ Membership, SoulCycle Credits
- One of Amex’s most popular cards, The Platinum Card® from American Express (Review), is getting a couple of upgrades; one useful, one not so much.
- Walmart+ membership: Pay for a Walmart+ membership with your Platinum card and you’ll get statement credits to cover the full cost each month ($12.95 plus tax, as of October 2021). Walmart+ members get free shipping, free delivery, reduced Rx costs, fuel discounts, and more.
- SoulCycle at-home bike statement credits: Platinum cardholders will get a $300 statement credit for every SoulCycle at-home bike purchase, up to 15 times per year. An Equinox+ membership is required to buy SoulCycle bikes and access content.
- The Platinum card already has a bevy of great perks, like wide-ranging airport lounge access and elite hotel statuses with Marriott Bonvoy and Hilton. The Walmart+ membership seems like a good addition, turning Walmart into something a bit more like Amazon. This continues a recent trend of less-than-premium features being added to the Platinum. The SoulCycle credits, on the other hand, don’t seem too valuable for most cardholders. But hey, if you’re one of the few people subscribing to Equinox+ and thinking about getting a $2,500 SoulCycle bike, you lucked out.
- Enrollment required for select benefits; terms apply.
- Learn more about the American Express Platinum card’s benefits.
For rates and fees of The Platinum Card® from American Express, please click here.
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