NEA RateSmart® Credit Card* vs. Wells Fargo Reflect® Card
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.
NEA RateSmart® Credit Card* vs. Citi Double Cash® Card
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.
NEA RateSmart® Credit Card* vs. Alliant Visa® Platinum Credit Card*
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.
