Last Updated on July 6, 2024 by Archie Biggs
- Earn up to $200 cash rewards bonus when you spend $500 in purchases in the first 3 months
- Intro APR 0% intro APR on purchases and balance transfers for 15 Months
- Earn unlimited 2% cash rewards on purchases
- Annual fee 0$
- Credit Needed – Good / Excellent
- 20.24%, 25.24%, or 29.99% Variable APR
- Balance transfer fee
Either $5 or 5% of the amount of each transfer, whichever is greater. - No Bonus Categories
- Foreign Tranfer fee of 3% in U.S. Dollars
Earn a $200 cash rewards bonus when you spend $1,000 $500 in purchases in the first 3 months
Wells Fargo’s Best Cash Back Credit Card Ever!
Plus, earn unlimited 2% cash rewards on purchases
Smart Promise
we strive to help you make smarter financial decisions. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here’s an explanation for how we make money . The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired. Terms apply to the offers listed on this page. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer
| Purchase Intro Apr | Balance Transfer | Regular APR | Annual Fee | Cash Back | Credit Needed |
|---|---|---|---|---|---|
| 0% intro on purchases for 15 months |
0% intro APR on purchases for 15 months |
20.24% – 29.99% (Variable) |
$0 | N/A | Excellent, Good |
Other cardholder perks
A 24/7 on-demand referral dispatch network that provides emergency roadside assistance, towing, or locksmith service when
you need them. For assistance, call 1-800-847-2869. Refer to your Guide to benefits for more information. Terms apply
With Credit Close-Up℠ you own the skills to help understand and track your FICO® Score, raise it, or maintain it. Enroll to receive monthly FICO® Score updates and personalized credit insights. It’s complementary to Wells Fargo Online® customers and using it won’t negatively affect your score.5
For additional information, visit wellsfargo.com/ficoscore
Through My Wells Fargo Deals, you can get access to personalized deals from a variety of merchants. It’s an easy way to earn cash back as an account credit when you shop, dine, or enjoy an experience simply by using an eligible Wells Fargo credit card
Built-in protection features ensure that you won’t be held responsible for unauthorized transactions, as long as they’re reported promptly
Your Wells Fargo Visa Signature® card provides complimentary concierge service that can help you enjoy the things you love. Simply pick up the phone to call Visa Signature Concierge. We are available 24 hours a day, 365 days a year for your travel, dining and entertainment needs.
Enjoy a premium collection of benefits at a selection of the world’s most intriguing and prestigious properties.
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- Up to 15 months of 0 percent intro APR — the longest zero-interest period for both purchases from account opening and qualifying balance transfers currently available
- Ongoing 20.24 percent to 29.99 percent (variable) APR can be quite low compared to many other balance transfer cards
- No annual fee
- Up to $600 of cellphone protection for eligible theft or damage when using your card to pay your cellphone bill each month (up to $1,200 yearly coverage across two potential claims, minus a $25 deductible)
- New Offer! Earn a $200 cash rewards bonus when you spend old price
$1,000new price$500 in purchases in the first 3 months - Plus, earn unlimited 2% cash rewards on purchases
- No ongoing rewards program or rewards-based welcome bonus
- The full up to 15 months of intro APR requires on-time minimum (or greater) payments each month throughout your first 15 months — although this shouldn’t be an issue while trying to settle a balance
- Intro 3 percent balance transfer fee ($5 minimum) lasts for 120 days before increasing to 5 percent ($5 minimum)
- Purchases abroad incur a 3 percent foreign currency conversion fee
Are you looking for a credit card that offers competitive cash back rates and attractive perks? The Wells Fargo Active Cash Card might just be the right choice for you. In this comprehensive review, we’ll dive deep into the features, pros, and cons of this card, helping you make an informed decision. Let’s explore why the Wells Fargo Active Cash Card deserves your attention.
Introducing the Wells Fargo Active Cash Card: A Competitive Cash Back Option
The Wells Fargo Active Cash Card is a credit card that boasts a very competitive flat cash back rate on all purchases. With a generous introductory APR and no annual fee, it presents itself as a tempting option for those who want to earn cash back without the hassle of category restrictions.
An In-Depth Analysis of the Wells Fargo Active Cash Card
Let’s take a closer look at the key features and benefits of the Wells Fargo Active Cash Card.
1. High Flat Cash Back Rate; No Accelerated Categories
When it comes to flat cash back rates, the Wells Fargo Active Cash Card truly stands out. Offering 2% on all purchases, it surpasses many other no-annual-fee cards that typically provide a maximum of 1% cash back for all purchases. While 2% is an impressive rate, it may not be as competitive as some other cards when it comes to high-volume purchase categories like groceries or restaurants.
2. Redemption Options
The cash back you earn with the Wells Fargo Active Cash Card can be redeemed in various ways. You have the flexibility to credit it into a Wells Fargo account, such as your credit card, checking account, or mortgage. Alternatively, you can opt for a statement credit to pay off your card balance. Another option is cash withdrawal from a Wells Fargo ATM using a WF debit card. Lastly, you can choose to redeem your cash back for gift cards, with a minimum of $25 in cash back required.
3. No Annual Fee
The absence of an annual fee is a significant advantage of the Wells Fargo Active Cash Card. By adding this card to your credit card mix, you can enjoy a flat 2% cash back rate on every purchase, without any extra cost, as long as you pay off your balance in full. This feature makes it an appealing choice for those who want to maximize their cash back potential.
4. Welcome Offer
As a new cardholder, you’ll be delighted to know that the Wells Fargo Active Cash Card offers a welcome bonus of $200 in cash back. To qualify for this bonus, you need to spend $1,000 on purchases within the first three months of having the card. While this spending target may require some effort, it can be a rewarding incentive for new cardholders.
5. Intro APR and Fees
The Wells Fargo Active Cash Card provides a 15-month introductory APR of 0% on both purchases and balance transfers. This means you can enjoy interest-free transactions during the introductory period. After the 15 months, your APR for purchases and balance transfers will vary based on your credit score.
It’s important to note that a fee of $5 or 3% of the transfer amount (whichever is greater) applies to balance transfers made within 120 days of opening the account. For balance transfers made after 120 days, the fee increases to 5%.
While the card offers attractive benefits, it’s essential to consider the 3% foreign transaction fee. If you frequently travel outside the United States, this fee can add up quickly. However, there are competing no-annual-fee cash back cards available that waive foreign transaction fees, providing an advantage for international travelers.
6. Other Notable Benefits
Apart from cash back and the introductory APR, the Wells Fargo Active Cash Card offers an additional perk: cell phone protection. By paying your monthly phone bill with the card, you’ll receive free coverage for cell phone damage or theft, up to $600 per claim. This feature can be highly valuable, saving you money on purchasing separate insurance from your phone’s retailer or wireless provider. With a generous two-claim or $1,200 per month limit, the cell phone protection benefit stands out among other cards.
Pros and Cons of the Wells Fargo Active Cash Card
When considering the Wells Fargo Active Cash Card, it’s important to evaluate both the advantages and disadvantages. Here are the key pros and cons to help you make an informed decision:
Pros
1. Competitive Flat Cash Back Rate
The Wells Fargo Active Cash Card stands out with its highly competitive flat cash back rate of 2% on all purchases. This rate surpasses many other no-annual-fee cards, allowing you to earn cash back on every transaction and maximize your rewards potential.
2. No Annual Fee
With the Wells Fargo Active Cash Card, you can enjoy the benefits of cash back without the burden of an annual fee. This makes it a cost-effective choice, as you can earn rewards without any additional cost.
3. Generous Sign-up Bonus
As a new cardholder, you’ll have the opportunity to earn a generous sign-up bonus. By spending $1,000 on purchases within the first three months, you’ll receive a $200 cash bonus. This immediate boost to your cash back earnings adds value to your overall rewards.
4. Introductory APR
The Wells Fargo Active Cash Card offers a 0% introductory APR for 15 months on both balance transfers and regular purchases. This introductory period can provide significant savings on interest charges, allowing you to manage your finances more effectively.
5. Cell Phone Protection
One of the standout features of this card is the inclusion of cell phone protection. By paying your monthly phone bill with the Wells Fargo Active Cash Card, you can benefit from free coverage against damage or theft of your cell phone, up to $600 per claim. This added protection offers peace of mind and can save you money on purchasing separate insurance.
Cons
1. No Accelerated Cash Back
While the Wells Fargo Active Cash Card offers a competitive flat cash back rate, it does not provide accelerated cash back rates for specific purchase categories. If you spend a significant portion of your budget on groceries, restaurants, or gas, you may find other cards that offer higher cash back rates in these categories more beneficial.
2. Foreign Transaction Fees
It’s important to note that the Wells Fargo Active Cash Card charges a foreign transaction fee of 3%. If you frequently travel outside the United States, these fees can add up quickly. Considering alternative no-annual-fee cash back cards that do not charge foreign transaction fees may be advantageous for international travelers.
3. Limited Consumer Benefits
When compared to some other cards, the Wells Fargo Active Cash Card falls short in terms of consumer benefits. It does not provide purchase protection or extended warranty coverage, which may be important considerations for those seeking additional protection for their purchases.
4. High Spending Requirements for the Bonus
While the sign-up bonus of $200 is enticing, it does come with a relatively high spending requirement of $1,000 within the first three months. If you are unsure about meeting this spending threshold, other cards may offer similar sign-up bonuses with lower spending requirements.
Considering these pros and cons will help you evaluate whether the Wells Fargo Active Cash Card aligns with your financial goals and preferences.
Comparing the Wells Fargo Active Cash Card to Alternatives
To provide a comprehensive perspective, let’s compare the Wells Fargo Active Cash Card to two notable alternatives: the Capital One SavorOne Cash Rewards Credit Card and the Citi® Double Cash Card.
Capital One SavorOne Cash Rewards Credit Card
The Capital One SavorOne Cash Rewards Credit Card offers a lower flat cash back rate of 1% compared to the 2% offered by the Wells Fargo Active Cash Card. However, it compensates for this by providing accelerated cash back rates of 3% in four special spending categories, including restaurants and grocery stores (excluding superstores like Walmart® and Target®). This makes the Capital One SavorOne Cash Rewards Credit Card an attractive choice for individuals who spend a significant portion of their budget in these categories.
Another advantage of the Capital One SavorOne Cash Rewards Credit Card is its waiver of foreign transaction fees, which is beneficial for frequent travelers.
If you’re looking to maximize your cash back potential across various spending categories, while also enjoying the benefits of a high flat cash back rate, you might consider signing up for both the Capital One SavorOne Cash Rewards Credit Card and the Wells Fargo Active Cash Card.
Citi® Double Cash Card
For individuals who prioritize a longer introductory APR period, the Citi® Double Cash Card offers an enticing option. While the Wells Fargo Active Cash Card provides a 15-month introductory APR, the Citi® Double Cash Card offers an extended 0% intro period for balance transfers. It’s important to note that this promotional period is limited to balance transfers and does not apply to purchases.
Similar to the Wells Fargo Active Cash Card, the Citi® Double Cash Card has no annual fee and a high flat cash back rate of 2%. However, the cash back is earned differently, with 1% awarded at the time of purchase and an additional 1% earned when you pay off the purchase later. This unique cash back structure may appeal to those who prefer immediate rewards.
The Citi® Double Cash Card does have some drawbacks, including the absence of accelerated cash back categories and the inclusion of a foreign transaction fee. These factors should be considered when comparing it to other cash back cards.
How the Wells Fargo Active Cash Card compares to other balance transfer cards
With its 0 percent intro APR on purchases and qualifying balance transfers from account opening for up to 15-months and low 20.24 percent to 29.99 percent ongoing APR (variable), the Wells Fargo Active Cash Card easily outperforms the many of zero-interest credit cards available.
Wells Fargo Active Cash Credit Card
- See Rates & Fees, Terms Apply
- APPLY ON WELLS FARGO’S
SECURE SITE
$0
$200
Unlimited 2%
Cash Rewards
Good to Excellent (670 – 850)Hover for more
Capital One SavorOne Cash Rewards Card
- See Rates & Fees,Terms Apply
- APPLY ON CAPITAL ONE’S
SECURE SITE
$0
$200
1% to 5%
Good to Excellent (670 – 850)Hover for more
Citi
Citi® Double Cash Credit Card
- See Rates & Fees, Terms Apply
- APPLY ON CITI’S
SECURE SITE
$0
N/A
2%
Good to Excellent (670 – 850)Hover for more
Is the Wells Fargo Active Cash Card Right for You?
After considering all the features and benefits of the Wells Fargo Active Cash Card, you may be wondering if it’s the right choice for you. Here are some key factors to help you make an informed decision.
The Wells Fargo Active Cash Card is a suitable option if:
- Your spending is evenly distributed across multiple purchase categories.
- You already possess a credit card that offers accelerated cash back in specific categories and want a supplementary card to cover other purchases.
- You require cell phone insurance and wish to save on additional insurance costs.
- You can easily meet the spending requirement of $1,000 to receive the welcome bonus.
However, you may want to reconsider if:
- You have applied for another Wells Fargo card within the last six months, as they are unlikely to approve your application in such cases.
- A significant portion of your expenses is dedicated to specific purchase categories such as groceries, gas, or restaurants. In these cases, there are better options available that cater specifically to those categories.
- You are specifically looking for the most advantageous balance transfer deal possible, as there are more competitive options in the market.
Our Two Cents: Is the Wells Fargo Active Cash card worth it?
The Wells Fargo Active Cash Card offers a competitive flat cash back rate of 2% on all purchases, making it an appealing choice for those seeking a straightforward cash back experience. While it lacks accelerated cash back categories, its flexibility and absence of an annual fee make it a valuable addition to your credit card portfolio.
By combining the Wells Fargo Active Cash Card with other cards that cater to specific spending categories, you can maximize your cash back potential across all areas of expenditure.
Remember to assess your own spending habits, preferences, and financial goals when considering this card. As with any financial decision, it’s essential to weigh the pros and cons to ensure you select the credit card that aligns with your unique needs.
Frequently Asked Questions
What is the credit limit on a Wells Fargo credit card?
Key Factors Influencing Your Wells Fargo Credit Card Limit
When it comes to determining your Wells Fargo credit card limit, several factors are taken into consideration. These factors are primarily aimed at assessing your financial stability and creditworthiness.
Credit History
Your credit history is a significant factor in determining your credit limit. Wells Fargo evaluates your past borrowing behavior, including your payment history, credit utilization, and length of credit history.
Income Level
Your income level is another crucial determinant. A higher income level indicates a stronger ability to repay debts, which may contribute to a higher credit limit.
Employment Status
Your current employment status is considered to assess the stability of your income. A steady job or a reliable source of income can positively impact your credit limit.
Debt-to-Income Ratio
Wells Fargo also considers your debt-to-income ratio, which compares your monthly debt obligations to your income. A lower ratio indicates better financial health and may lead to a higher credit limit.
What is the highest credit score Wells Fargo accepts?
Wells Fargo Credit Card: Credit Score Requirements
While Wells Fargo does not publicly disclose a minimum credit score requirement, having a good to excellent credit score significantly increases your chances of approval and a higher credit limit. Generally, a credit score of 700 or above is considered favorable. However, other aspects of your financial profile, such as income and employment history, are also considered in the decision-making process.
How to Request a Credit Limit Increase with Wells Fargo
After obtaining a Wells Fargo credit card, you have the opportunity to request a credit limit increase. Here are some steps that can enhance your chances of a successful request:
Timely Payments
Make timely payments for at least six months to establish a positive payment history. This demonstrates responsible credit card usage.
Account Age
Allow your account to age and build a track record of responsible credit management. The longer you maintain a Wells Fargo credit card, the more evidence you provide of your creditworthiness.
Specific Increase Amount
Determine the desired increase amount for your credit limit. Being specific in your request showcases your financial planning and provides a clear objective.
Responsible Credit Management
Showcase responsible credit management by paying off your balances in full and maintaining a low credit utilization ratio. Demonstrating disciplined financial behavior can strengthen your case for a credit limit increase.
How do I redeem my Wells Fargo credit card rewards?
Redeeming Wells Fargo Credit Card Rewards
Wells Fargo offers a variety of reward options for its credit cardholders. Here’s how you can redeem your Wells Fargo credit card rewards:
Online Redemption
Cardholders can conveniently log into their Wells Fargo online accounts to view and redeem their rewards. The online platform provides easy access to manage and utilize your accumulated rewards.
Reward Options
Wells Fargo offers several options for redeeming your credit card rewards. These options include cash back, travel rewards, gift cards, and merchandise.
What is the Wells Fargo credit card application process?
Applying for a Wells Fargo Credit Card
If you’re considering applying for a Wells Fargo credit card, the process is straightforward. Here’s what you need to know:
Online Application
Prospective cardholders can easily apply for a Wells Fargo credit card online. Visit the Wells Fargo website and navigate to the credit card section to access the online application.
In-Branch Application
If you prefer a face-to-face interaction, you have the option to apply for a Wells Fargo credit card at a local branch. Speak with a representative who will guide you through the application process.
Mail Application
Alternatively, you can request a paper application through the mail. Complete the application form and return it to the designated address provided by Wells Fargo.
How do I get a Wells Fargo credit card with bad credit?
Securing a Wells Fargo Credit Card with Bad Credit
Even with less-than-ideal credit, obtaining a Wells Fargo credit card is still possible. One option available is a secured credit card, which requires a security deposit that serves as your credit limit. By responsibly using a secured credit card over time, you can demonstrate improved credit behavior, which may lead to qualifying for a traditional credit card in the future.
What are the benefits of the Wells Fargo Active Cash® Card?
Benefits of Wells Fargo Active Cash® Card
Among the range of credit cards offered by Wells Fargo, the Wells Fargo Active Cash® Card stands out for its attractive cashback benefits. Here’s what makes this card appealing:
Generous Cashback Rewards
The Wells Fargo Active Cash® Card provides a flat 2% cashback on all purchases, making it a reliable choice for earning rewards on your everyday spending.
Welcome Bonus
As an added incentive, the card offers a welcome bonus of $200 after you spend $1,000 on purchases within the first three months of account opening.
Travel and Purchase Protection
The Wells Fargo Active Cash® Card offers additional perks such as travel insurance and purchase protection. Travel insurance covers trip cancellation and interruption, baggage delay, and lost luggage, providing peace of mind when you’re on the go. Purchase protection safeguards your purchases against damage or theft, offering added security for your valuable items.
