Wells Fargo Active Cash® Card Review: Earn a $200 Cash Rewards Bonus

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A Great Long-Term Option for Maximizing Cash Back

While many rewards credit cards tempt you with bonus rewards for specific purchases, these cards invariably offer a mere 1% rewards rate on the vast majority of charges that don’t qualify for a bonus. And with many of these cards, the amount of purchases that are eligible for your bonus is capped, restricting the overall potential value.

But with the Wells Fargo Active Cash® Card, you simply receive a high level of cash rewards on purchases. There’s no need to register for anything, and there are no limits on the amount of cash rewards you can earn.

Pros

Earn an unlimited 2% cash back on every single purchase
No annual fee
Automatic cellphone protection when you pay your monthly bill with the card

Cons

Points don't transfer to travel partners unlike other card currencies
No bonus earning categories

Cash Rewards Bonus

New applicants can earn a $200 cash rewards bonus after spending $500 on the card within the first three months of account opening.

Just remember that the three months you have to meet the minimum spending requirement begin when your account is opened. This is typically the day you’re approved for the card, it is not when your credit card is mailed, received, activated, or first used. However, you can immediately use the card’s digital wallet features once you’ve been approved for a new account.

Earning Rewards

Earning rewards with this flat-rate credit card is simple. Cardholders earn an unlimited 2% cash reward on all eligible purchases. Wells Fargo Rewards® points are earned as part of the Wells Fargo Rewards Wells Fargo Rewards® program and do not expire as long as the account is open.

How Much Are Rewards Worth?

This card's rewards function in the same way as those of other cash reward programs. One cent is equal to one percentage point of cash rewards. Every transaction receives 2% cash back, which translates to two cents on the dollar. Spend $1,000 on your credit card and get $20 back.

Redeeming Rewards

When it comes to redeeming your cash back, the Wells Fargo Active Cash® Card offers a number of flexible and practical options.

Credit to a Wells Fargo account. You can redeem your cash rewards as a credit to a Wells Fargo mortgage loan, installment loan, or other line of credit.
Direct deposit into a Wells Fargo checking or savings account. You can also direct deposit rewards into your Wells Fargo bank account.
Cash withdrawals from Wells Fargo ATMs. When you use your Wells Fargo ATM or debit card, you can redeem your cash rewards in $20 increments.
Statement credits. Redeem your rewards to pay for recent, qualified charges made to your credit card.
Gift cards. You may exchange your cash back earnings for gift cards to several well-known stores.

It’s worth noting that cardholders can also share Wells Fargo Rewards® with other Wells Fargo Rewards® customers.

Rewards Potential

There’s no annual cap on the amount of cash rewards cardholders can earn, and rewards won’t expire as long as the account remains open. You can also redeem for purchases that you’ve already made.

This is as competitive as the Citi Double Cash® Card, from our partner Citi, which has a system of offering 1% back at the time of purchase and another 1% when you pay for your purchases.

Card Benefits and Perks

Some card issuers, like Citi, have stripped nearly all of the once common purchase protection and travel insurance benefits from their cards. Other card issuers, like Chase and American Express, have retained their benefits and even enhanced some.

Wells Fargo’s stance on cardholder benefits is somewhat in the middle. It never offered a huge amount of benefits, but in recent years, it hasn’t gone out of its way to eliminate the ones it has traditionally offered.

Included are:

Cell phone protection policy. This policy offers $600 worth of coverage if your phone is damaged or stolen. To utilize this coverage, you just have to pay your monthly mobile phone bill with your card. Just note that there’s a $25 deductible.
Visa Signature Concierge. This service is available 24/7 and offers assistance with travel, dining and entertainment planning.
Visa Signature Luxury Hotel collection. This program offers you substantial hotel discounts and benefits when booking accommodations through it. Sample offers include a third night free when you book two nights, or 30% off room rates. And when staying also receive a $25 food and beverage credit, free continental breakfasts and complimentary in-room wifi. And upon availability, you’ll receive room upgrades and a 3 p.m. late checkout.

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Drawbacks

The advantages of this card are appealing, but it also has a few drawbacks. The disadvantages, however, are mostly the same as those of other cards in the cash-back credit card category.

Foreign transaction fees. If you frequently go abroad, you probably shouldn't use the Wells Fargo Active Cash® Card because it has a 3% foreign transaction fee.
Strict approval requirements. Depending on a few variables, you might not be eligible to get the card's promotional APRs or welcome bonus if you opened a Wells Fargo credit card within 6 months of submitting your application. This is a significant disadvantage.
Balance transfer fees. You should be aware that there is a balance transfer fee if you decide to use the card's intro APR on balance transfers: 120 days from account opening, 3% introductory rate of the amount of each balance transfer; thereafter, up to 5% for each balance transfer (with a $5 minimum).

Annual Fee

Although annual fees are sometimes the price of entry for more costly rewards cards, they do reduce the annual value of these cards. This card is easy to keep around for a long time because there is no annual charge.

Intro APR

New accounts receive 0% intro APR financing on both new purchases and qualifying balance transfers for 15 months from account opening (then a 20.24%, 25.24%, or 29.99% (Variable) APR applies depending on creditworthiness). Qualifying balance transfers must be made within 120 days of account opening (the day your new account was approved).

When you perform a balance transfer, according to this offer, there’s a 3% balance transfer fee applied to your new balance. But after the 0% Intro APR offer ends, a balance transfer fee of up to 5% applies, and transfers won’t receive the 0% APR promotional financing. There’s a minimum $5 fee for each transfer.

Be sure to use caution with these types of 0% intro APR offers. Receiving financing is great, but not if it encourages you to make unnecessary purchases and incur debt.

Other Fees

Other fees include a 3% Foreign Currency Conversion fee applied to each transaction converted to U.S. dollars. This appears to be slightly different from most cards’ foreign transaction fee, which applies more broadly to any transaction processed outside the United States, even in U.S. dollars. Either way, you’ll come out behind if you use this card to make purchases from foreign merchants in a foreign currency, whether or not you’re actually visiting that country or placing an order from home.

Recommended Credit Score

Unlike some credit card issuers, Wells Fargo doesn’t list either the credit score needed to qualify for their cards, or even a description of the credit score required, such as “good” or “excellent.” Instead, Wells Fargo considers many factors when considering applications for new accounts.

In general, people who’ve had serious credit problems are unlikely to qualify for the most competitive reward cards, like this one. And those without excellent credit who are approved are unlikely to qualify for the lowest interest rates. But the fact that the Wells Fargo Active Cash® Card is offered with a range of interest rates could be an indication that those with a range of credit profiles could be approved for this card.

Great Cash Back Card

Earn Unlimited 2% Cash Rewards on Purchases

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Rates & Fees

How the Card Compares

The Wells Fargo Active Cash® Card is a great option for those seeking a no-frills card with a welcoming sign-up bonus, no annual fee, and a straightforward rewards structure. However, seasoned credit card users may find it lacking the extra perks typically found on more lucrative cash-back cards. People who are accustomed to earning higher rates on certain types of purchases may find a flat-rate card isn't the ideal method to maximize rewards.

That's why it's important to compare this card with other of the top cash rewards cards in order to determine which is the best option for your needs.

Compare Cash Back Rewards Explore How Wells Fargo Active Cash® Compares

Wells Fargo Active Cash® Card
Citi Double Cash® Card
Chase Freedom Unlimited®

Citi Double Cash® Card vs Wells Fargo Active Cash® Card

If you're thinking about getting this card, you should also compare it to its closest rival, the Citi Double Cash® Card from our partner Citi, which offers 1% cash back on purchases and 1% cash back after paying your bill.

The Citi Double Cash Card is already at a disadvantage due to the earning structure. However, the Citi Double Cash Card's lengthy intro APR on balance transfers is where it really shines. New cardholders receive a 0% intro APR for 18 months from the date of the first transfer for balance transfers made within four months of account activation, followed by a variable APR ranging from 19.24% - 29.24% (Variable) , making it one of the finest balance transfer credit cards.

Chase Freedom Unlimited® vs. Wells Fargo Active Cash® Card

The Wells Fargo Active Cash® Card is a less complicated alternative to cards such as the Chase Freedom Unlimited®. The Freedom Unlimited card provides cash back with a twist.

Cardholders can earn:

5% cash back on travel purchased through Chase Ultimate Rewards®
3% cash back on eligible dining and pharmacy expenses
1.5% cash back on all other purchases

Will the 5% and 3% cash-back categories compensate for the 0.5% cash-back gap on everything else? This is a decision that each potential cardholder must make based on their preferences, budget, and spending habits.

The Chase Freedom Unlimited features more perks, such as purchase protection, extended warranties, and a number of travel safeguards. The Wells Fargo Active Cash® Card covers your cell phone. The welcome incentives on both cards are similar. However, Freedom Unlimited's is structured differently: for the first year you hold the card, earn unlimited matched cash back on all purchases.

The Chase Freedom Unlimited will make more sense for some people. For others, Wells Fargo’s card is straightforward and simple to calculate. The cards may be a suitable match for some, but most people would profit more from combining the Wells Fargo Active Cash® Card with a product that earns higher rates in a broader range of categories.

Best Cards to Combine With the Wells Fargo Active Cash® Card

The advantage of flat-rate cash rewards cards is that they work nicely with practically any other card you may already have. Pairing your flat-rate cash back card with a card that earns a higher rewards rate on your most significant specialty expenditure categories, such as groceries, restaurants, or gas, is the ideal approach to optimizing your flat-rate cash back card. Then, make use of Wells Fargo Active Cash® Card to earn even more rewards on purchases outside of those areas.

For example, you can use the Blue Cash Preferred® Card from American Express to receive higher rates of cash back on spending at U.S. supermarkets and select U.S. streaming subscriptions. Everything else, or any grocery purchases not qualifying for its full cash-back rates, would be covered by the Wells Fargo Active Cash® Card.

Who Is the Wells Fargo Active Cash® Card Good for?

Finding the best cash rewards credit card is a lot easier than trying to figure out travel rewards. With travel rewards, each point or mile is worth something different to different people, but cash rewards always hold value.

Some people play the cash rewards game at a high level, carrying several cards that they use for specific purchases that they can earn a bonus on. But the Wells Fargo Active Cash® Card is designed to offer a high level of cash rewards for purchases, with no category limitations to worry about. So you can use this as your only card, and end up with a very respectable amount of cash rewards.

Inevitably, some people will pair the Wells Fargo Active Cash® Card with another rewards card, such as a travel card, that can offer them bonus rewards or specific benefits. But even if you do that, it’s great to know that you’ll never earn less than 2% cash rewards, and you’ll never have any activations or annual fees to worry about with this credit card.

There are now several cards that offer 2% cash rewards on purchases, in some form or another. But when you consider this credit card’s benefits and its valuable promotional financing offer, you might find that the Wells Fargo Active Cash® Card is the best one for your spending habits.

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FAQs

The Wells Fargo Active Cash® Card is a credit card offered by Wells Fargo Bank that focuses on providing cashback rewards to its cardholders. This card typically offers a flat cashback rate on all purchases, allowing cardholders to earn rewards without having to worry about spending categories or limits.
You are able to apply online, using the Wells Fargo app, on major credit card websites, by mail, or in person at a Wells Fargo branch.
It’s not difficult to get a Wells Fargo Active Cash® Card. But whether you will be approved depends on various factors, including your credit score, credit history, income, and existing financial relationships with Wells Fargo. Most of the time, this card is for people with good to excellent credit scores, which are usually 670 or higher.
We looked at user reports and found that the Wells Fargo Active Cash® Card's credit limit is often between $1,000 and $20,000 or more. That’s because ach cardholder has a different credit limit, which is based on things like their annual income and credit history.

Jason Steele

Jason Steele is a journalist who specializes in covering credit cards, award travel and other areas of personal finance. As one of the nation’s leading experts in the credit card industry, Jason’s work has been featured at mainstream outlets such as Yahoo! Finance, MSN Money and Business Insider.

Wells Fargo Active Cash® Card Review: $200 Cash Rewards Bonus