The Wells Fargo Active Cash® Card is making waves in the world of cash back credit cards, offering a straightforward and rewarding experience for those seeking to maximize their everyday spending. With an unlimited 2% cash rewards on all purchases and no annual fee, this card is a compelling option for both seasoned cardholders and those new to the credit card game.
Why Choose the Wells Fargo Active Cash® Card?
The Wells Fargo Active Cash® Card stands out for several reasons:
- Simplicity: Earn an unlimited 2% cash rewards on all purchases with no rotating categories or spending caps to track.
- No Annual Fee: Enjoy the card’s benefits without paying an annual fee.
- Welcome Bonus: New cardholders can earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months.
- Introductory APR Offer: Get 0% intro APR for 15 months from account opening on purchases and qualifying balance transfers, providing an opportunity to save on interest charges.
- Additional Benefits: The card offers cell phone protection, auto rental collision damage waiver, and access to other Visa Signature® benefits.
Key Features and Benefits
Wells Fargo Active Cash® Card: At a Glance
| Feature | Details |
|---|---|
| Rewards Rate | Unlimited 2% cash rewards on all purchases |
| Welcome Bonus | $200 cash rewards after spending $500 in first 3 months |
| Annual Fee | $0 |
| Intro APR | 0% for 15 months on purchases and qualifying balance transfers |
| Regular APR | 19.24%, 24.24%, or 29.99% Variable APR |
| Balance Transfer Fee | Either $5 or 5% of the amount of each transfer, whichever is greater |
| Foreign Transaction Fee | 3% |
| Other Benefits | Cell phone protection, auto rental collision damage waiver, roadside dispatch, travel and emergency assistance services, Visa Signature® Concierge |
| Best For | Everyday spending, individuals who want a simple cash back card, those looking to consolidate debt with a balance transfer offer |
Key Considerations:
- The Wells Fargo Active Cash® Card doesn’t offer bonus rewards categories or special travel benefits.
- The 3% foreign transaction fee makes it less ideal for frequent international travelers.
- The regular APR can be high, so it’s important to pay your balance in full each month to avoid interest charges.
Let’s take a closer look at the card’s features and benefits:
- Unlimited 2% Cash Rewards: Earn 2% cash rewards on every purchase you make, regardless of the category. This makes it easy to maximize your rewards without having to strategize your spending.
- $200 Cash Rewards Bonus: New cardholders can earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months from account opening.
- 0% Intro APR: The card offers 0% intro APR for 15 months from account opening on purchases and qualifying balance transfers. This can be a valuable tool for financing large purchases or consolidating high-interest debt.
- Cell Phone Protection: Get up to $600 in cell phone protection against covered theft or damage (subject to a $25 deductible) when you pay your monthly cell phone bill with your eligible Wells Fargo card.
- Auto Rental Collision Damage Waiver: Decline the rental company’s collision insurance and charge the entire rental cost to your card to activate this coverage.
- Roadside Dispatch: Get 24/7 assistance for towing, jump-starts, flat tires, and more.
- Travel and Emergency Assistance Services: Receive help with lost luggage, medical referrals, and other travel emergencies.
- Visa Signature® Concierge: Get access to personalized assistance with travel arrangements, dinner reservations, and more.
Rewards and Redemption
Redeeming your cash rewards is simple and flexible. You can choose to:
- Redeem for Cash: Get cash deposited into your Wells Fargo checking or savings account, or apply it as a statement credit to your card balance.
- Redeem for Travel: Book flights, hotels, car rentals, and activities through the Wells Fargo Rewards portal.
- Redeem for Gift Cards: Choose from a wide selection of gift cards from popular retailers.
- Redeem for Merchandise: Browse the Wells Fargo Rewards catalog for electronics, home goods, and more.
Fees and Interest Rates
Here’s a breakdown of the card’s fees and interest rates:
- Annual Fee: $0
- Intro APR: 0% intro APR for 15 months from account opening on purchases and qualifying balance transfers
- Regular APR: 19.24%, 24.24%, or 29.99% Variable APR after the intro period
- Balance Transfer Fee: Either $5 or 5% of the amount of each transfer, whichever is greater
How to Apply for the Wells Fargo Active Cash® Card
Applying for the Wells Fargo Active Cash® Card is a straightforward process that can be completed online or in person. Here’s a step-by-step guide:
1. Check Your Eligibility:
- Review the card’s requirements: Ensure you meet the credit score and income requirements for the card. Wells Fargo typically prefers applicants with good to excellent credit.
- Gather your information: Have your personal information (name, address, social security number) and financial details (income, employment information) ready.
2. Online Application:
- Visit the Wells Fargo website: Go to the Wells Fargo Active Cash® Card application page: https://creditcards.wellsfargo.com/active-cash-credit-card/
- Complete the application: Fill out the online application form, providing accurate and up-to-date information.
- Submit your application: Review your application thoroughly before submitting it. You may receive an instant decision or be notified that further review is needed.
3. In-Person Application:
- Visit a Wells Fargo branch: Find a branch near you and speak with a banker about applying for the Active Cash® Card.
- Complete the application: Fill out the application form with the help of the banker.
- Submit your application: The banker will process your application, and you may receive a decision on the spot or be notified later.
After You Apply:
- Receive your decision: Wells Fargo will notify you of their decision via mail or email. If approved, you’ll receive your card in the mail within 7-10 business days.
- Activate your card: Follow the instructions provided with your card to activate it and start using it.
Additional Tips:
- If you’re an existing Wells Fargo customer, you may be able to pre-fill some of your information on the application, making the process even faster.
- If you’re unsure whether you qualify for the card, you can check your eligibility online without impacting your credit score.
- If you have any questions during the application process, don’t hesitate to contact Wells Fargo customer service for assistance.
Who Should Get the Wells Fargo Active Cash® Card?
This card is a great fit for:
- Individuals seeking a simple cash back card: The unlimited 2% cash rewards on all purchases make it easy to earn rewards without worrying about categories.
- Those who want a no-annual-fee card: The card’s lack of an annual fee maximizes your rewards potential.
- People looking to consolidate debt: The 0% intro APR on balance transfers can help you save on interest charges while paying down debt.
Additional Tips:
- Maximize Your Rewards: Use the Wells Fargo Active Cash® Card for all your everyday purchases to earn 2% cash rewards on everything.
- Pay On Time: Always pay your bill on time to avoid interest charges and late fees.
- Track Your Spending: Monitor your spending to stay within your budget and maximize your rewards.
- Redeem Strategically: Consider how you want to use your cash rewards. Redeeming for cash or statement credits can be a great way to offset your expenses or save for a future goal.
- Combine with Other Cards: If you’re a frequent traveler, consider pairing the Wells Fargo Active Cash® Card with a travel rewards card to earn even more rewards on your travels.
Comparison with Other Cards:
While the Wells Fargo Active Cash® Card offers simplicity and a generous 2% cash back on all purchases, it’s important to compare it with other cash back cards to ensure it’s the right fit for your needs. Some other popular options to consider include:
- Citi® Double Cash Card: Earns 2% cash back (1% on purchases and 1% on payments).
- Chase Freedom Unlimited®: Offers 1.5% cash back on all purchases and bonus categories.
- Capital One Quicksilver Cash Rewards Credit Card: Earns unlimited 1.5% cash back on all purchases.
By comparing features, rewards rates, and annual fees, you can make an informed decision about which card aligns best with your spending habits and financial goals.
The Wells Fargo Active Cash® Card is a strong contender in the cash back credit card market, offering a straightforward rewards program, no annual fee, and additional benefits like cell phone protection and a 0% intro APR offer. If you’re looking for a simple and rewarding way to earn cash back on your everyday spending, this card is worth considering.
Remember:
- Always read the terms and conditions carefully before applying for any credit card.
- Choose a card that aligns with your spending habits and financial goals.
- Use your credit card responsibly to build and maintain a good credit history.
By following these tips, you can make the most of your Wells Fargo Active Cash® Card and enjoy the rewards it offers.
Frequently Asked Questions
Q: Does the Wells Fargo Active Cash® Card have foreign transaction fees? A: Yes, the card charges a 3% foreign transaction fee.
Q: Is the Wells Fargo Active Cash® Card a good choice for travel? A: While the card earns a flat 2% cash rewards on all purchases, including travel, there are other travel cards that may offer more specialized benefits and higher rewards rates for travel-related expenses.
Q: Can I transfer my cash rewards to another person? A: No, the cash rewards you earn on the Wells Fargo Active Cash® Card are not transferable.
Q: Can I use the Wells Fargo Active Cash® Card for balance transfers? A: Yes, the card offers an introductory 0% APR for 15 months on balance transfers, making it a potential option for consolidating debt. However, be aware of the balance transfer fee and the regular APR that applies after the intro period.
Q: Does the Wells Fargo Active Cash® Card offer any travel benefits? A: While the card doesn’t offer specific travel benefits like airport lounge access or travel insurance, you can redeem your cash rewards for travel through the Wells Fargo Rewards portal. This can be a flexible way to offset travel costs.
Q: What are the credit requirements for the Wells Fargo Active Cash® Card? A: While Wells Fargo doesn’t publicly disclose specific credit score requirements, generally, a good to excellent credit score (typically 670 or higher) is recommended to increase your chances of approval.
