Listed below are the multiple benefits of the well Fargo active cash® Card:
Earn a $200 cash rewards bonus after spending $1,000 in purchases in the first 3 months
Earn unlimited 2% cash rewards on purchases
0% intro APR for 15 months from account opening on purchases and qualifying balance transfers, then a 15.24% to 25.24% variable APR; balance transfers made within 120 days qualify for the intro rate and fee of 3% then a BT fee of up to 5%, min: $5
$0 annual fee
No categories to track or remember and cash rewards don’t expire if your account remains open
Enjoy a premium collection of benefits at a selection of the world’s most intriguing and prestigious hotel properties with Visa Signature Concierge
Get up to $600 protection on your cell phone (subject to a $25 deductible) against covered damage or theft when you pay your monthly cellular telephone bill with your Wells Fargo Active Cash℠ Card
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The Wells Fargo Active Cash card earned a rating score of 4.2 out of 5. Here’s a closer look at some of the features that earned the card this score.
Earning and Redeeming Rewards
Yielding 2% cash rewards for every $1 spent on purchases gives the Wells Fargo Active Cash card a competitive edge against other cash-back rewards cards. Cardholders can buy items or spend on whatever they want, generating the same cash-back amount regardless of category, without quarterly restrictions.
Cardholders can redeem their cash back in a variety of ways:
Toward eligible purchases that appear on their Wells Fargo Active Cash card account
As a statement credit toward a qualifying Wells Fargo credit card, checking account or mortgage
As a cash redemption at a Wells Fargo ATM, available in $20 increments, when they use a Wells Fargo
debit or ATM card
Toward gift cards, which are redeemable in $25 increments
By using PayPal at checkout when they shop online
Wells Fargo Active Cash cardholders receive up to $600 of cellphone protection, guarding against damage or theft. Those who have ever dropped and damaged their phone or had it stolen are likely to see the value of this offer. To qualify, cardholders must pay their monthly cellphone bill with their Wells Fargo Active Cash card.
Additionally, the Wells Fargo Active Cash card offers built-in protection, meaning cardholders won’t be held responsible for any unauthorized transactions that appear on their account. To take advantage of this feature, cardholders need to report any suspicious activity to Wells Fargo immediately.
Introductory APR
In addition to the $200 welcome bonus, the Wells Fargo Active Cash card offers a 0% intro APR on new purchases and balance transfers during the first 15 months. This enables cardholders with a high balance on another credit card to transfer it to their Active Cash card and pay it without accruing any interest.
Keep in mind that after the intro period, the card comes with a variable APR of then 15.24%-25.24% Variable APR on purchases and balance transfers, depending on your creditworthiness.
Fees
The Active Cash card does, however, have some drawbacks when it comes to its cash advance and foreign transaction fees. While not the highest on the market, they may be an inconvenience for some. Paying with the Wells Fargo Active Cash card at foreign establishments will cost members 3% of each transaction converted to U.S. dollars. Using this credit card for cash advances costs $10 or 5% of the amount, whichever is greater.
It’s straightforward to earn and redeem rewards with the Wells Fargo Active Cash card. Cardholders earn and redeem their hard-earned rewards without any nuisances. With all the confusing terms and conditions, annoying category limitations and complicated quarterly reward activation schemes out of the way, customers can focus on spending their rewards however they’d like. The best part is that they still earn cash back with every purchase, no matter what.
Most flat-rate cards available to date generate between 1% and 1.5% cashback. Not many give away 2% cash rewards with every purchase like the Wells Fargo Active Cash card does. Those that do typically have special conditions for cardholders to see their earnings. This gives the Wells Fargo Active Cash card the upper hand, even though the rewards could be a bit higher.
Because this credit card has no annual fee, it’s a great option to hold on to in the long run.
Wells Fargo Active Cash vs. American Express Blue Cash Preferred
The American Express Blue Cash Preferred card may initially seem more appealing than the Active Cash card because of its generous $300 welcome bonus after. However, customers must spend three times ($3,000 within the first 3 months) as much as they would with the Active Cash card to earn it. Both cards have a 0% intro APR on purchases, but the Active Cash card lets cardholders enjoy this benefit for three months longer than its American Express counterpart.
As for cash-back rewards, the Blue Cash Preferred card offers 6% on select streaming subscriptions and on up to the first $6,000 you spend at U.S.-based supermarkets each year. It also offers 3% on purchases from transportation services and U.S.-based gas stations. For other everyday purchases, the Active Cash card still holds the crown with a 2% offer over American Express’s 1%.
Wells Fargo Active Cash vs. Chase Freedom Flex
The Chase Freedom Flex card is a popular choice among frequent travellers. Unlike the Active Cash card, it offers an attractive cash-back rate of 5% on travel purchased via Chase’s Ultimate Rewards program. Additionally, it gives cardholders 3% cash back on purchases at drugstores and restaurants, including takeout, and 1% on all other purchases. Cardholders can also earn 5% cash back on quarterly rotating categories on the first $1,500 spent each quarter.
Like the Active Cash card, the Freedom Flex card offers a $200 welcome bonus. However, with the Freedom Flex card, you can earn the bonus by spending $500 within the first three months of card ownership — just half of what the Active Cash card requires. Both cards also offer an introductory 0% APR on purchases and balance transfers for the first 15 months.
The Wells Fargo Active Cash℠ Card ticks all the typical rewards card boxes with everything from purchase rewards to a long 0% intro APR offer.
Unlimited 2% cash rewards
Cardholders earn unlimited 2% cash rewards on purchases, with no categories to activate or earnings limits to track. While there are a few other cash back cards out there with the same rewards rate, the Wells Fargo Active Cash℠ Card stands out with its simplicity.
When you’re comparing credit cards with similar cash back, you’ll see that most have some sort of catch. You either must redeem your rewards in a specific way, or there are multiple steps to earn the full amount. The Wells Fargo Active Cash℠ Card doesn’t do any of that. You’ll earn the same cash rewards on purchases when you make them, and you can redeem those rewards for everything from statement credits to gift cards.
$200 cash rewards sign-up bonus
New Wells Fargo Active Cash℠ Cardholders can earn a $200 cash rewards sign-up bonus for spending just $1,000 on their card in the first three months. Not only is this a very competitive sign-up bonus for a card with no annual fee, but it’s also one of the things that set this Wells Fargo credit card apart from other cash back cards.
Long 0% APR intro offer
Another thing that makes the Wells Fargo Active Cash℠ Card different from other cash back credit cards is the 0% intro APR card offers. New cardholders can enjoy 0% intro APR on both new purchases and eligible balance transfers for a full 15 months. That’s a great offer, even when compared to cards marketed just for a 0% intro APR.
Keep in mind that only balance transfers made within the first 120 days will qualify for the reduced interest rate. There’s also a balance transfer fee that will apply to all transfers.
No annual fee
In many cases, high rewards rates mean high annual fees. Not with the Wells Fargo Active Cash℠ Card.
The card has no annual fee, which means you won’t need to pay just to keep your account open.
While having no annual fee is great for any cardholder, it’s ideal for rewards maximizers who want the Wells Fargo Active Cash℠ Card for those few purchases that don’t fit neatly into normal bonus categories. You’ll be able to hang on to the card with no annual fee, even if you’re not using it every day.
Cellphone protection
With the price of a typical cellphone in the hundreds of dollars, having some sort of insurance is a good idea. With this Wells Fargo card, you can get built-in cellphone protection just by paying your cellphone bill with your card. The protection covers your phone in the event of theft, damage, or “involuntary and accidental parting.” You can get up to $600 per claim — minus a $25 deductible — and up to two claims per 12-month period.
