The Wells Fargo Active Cash Credit Card offers a limitless 2% cashback rewards rate on purchases and charges no annual fee. 0% intro APR for 15 months from account opening on purchases and qualifying balance transfers, then a variable APR Rate (ranging from 14.99% to 24.99%) is applicable. This puts it in competition with some of the best flat-rate cashback cards on the market.
Flat-rate cash back cards offering 2% are few and much between but the simplicity and ease of earning cashback rewards offered by the Wells Fargo Active Cash Credit Card make it simply a delightful option. The Wells Fargo Active Cash Credit Card also offers mobile phone protection benefits and the Visa Concierge’s Visa Signature Luxury Hotel Collection.
Though lighter on additional perks, the purpose of the Wells Fargo Active Cash Credit Card is not frivolous perks.
Table of Contents
- Rates & Fees
- Benefits of Wells Fargo Active Cash Credit Card
- Additional Benefits
- Drawbacks of Active Cash Credit
- Best Alternative Cards of this Card
- Odds of Approval
- Verdict: Should you go for Wells Fargo Active Cash Credit Card?
Rates & Fees
|Balance Transfer fees||Up to 5% minimum $5|
|Foreign Transaction Fees||3%|
|Regular APR||Variable ranging from 14.99% 24.99%|
Benefits of Wells Fargo Active Cash Credit Card
The Wells Fargo Active Cash Credit Card offers a $200 Cash Reward as a Welcome Bonus to its new cardholders. The Wells Fargo Active Cash Card comes with a rewarding scheme under which you receive a cashback reward of $200 as you spend $1,000 on purchases in the first 3 months.
On the other hand, its major rival, Citi Double Cash Card, doesn’t offer a Welcome Bonus to its new cardholders.
2% Unlimited Cashback
Quite a few flat-rate cards offer you the opportunity to earn a cashback of 1.5%, so if a card is to stand out, it has to provide some remarkable rewards. While the list of cash cards that earn 2% cashback is growing, the Active Cash Card by Wells Fargo massively differentiates itself with its warmly welcoming sign-up bonus (i.e., Earn cashback $200 as you spend $1000 within the first 3 months of account opening).
No Annual Fee
Annual Fees may be the Cost of Entry into the Premium Members Club who get Premium Rewards Cards. But the Wells Fargo Active Cash Credit Card doesn’t take a chunk of your income in the form of Annual Fees. In simple words, it does not charge you anything for Annual Fees.
0% Introductory APR is Applicable
The Wells Fargo Active Cash Credit Card gives you an extended break from interest, which can be helpful if you bring this card into its use, especially while making a serious purchase that you would like to pay off over time, moreover if you wish to move debt far away from a high-interest card.
You will pay 0% introductory APR for 15 months from the account opening on purchases and qualifying balance transfers, then the regular variable APR of 14.99%-24.99% will be applicable.
Credit cards offering cellphone protection insurance are witnessing unprecedented growth in their demands. As you pay your monthly phone bills using the Wells Fargo Active Cash Credit Card, it will cover up to $600 (up to per year) in the event of things like damage or theft.
Plus, Well Fargo’s protection plans are often a touch better than the World Elite Mastercard Cellphone Protection Plan.
Visa Signature Perks
As a Visa Card, it offers Traditional Visa Features like Auto Rental Collision Damage Waiver Coverage, Roadside Dispatch, Zero Liability for Unauthorized Purchases.
Moreover, you will also qualify for Visa Signature Benefits like Visa Signature Concierge Services and extra perks at Luxury Hotel Collection properties. And above all, the peace of mind due to the travel and emergency assistance services, extended warranties, and online product registration for more accessible claim filing.
Drawbacks of Active Cash Credit
- 3% Foreign Transaction Fee.
- The cashback records sign-up bonus requires you to spend $1,000 within the first three months, which is higher than other no-annual-fee cash rewards cards.
- The ability to get rewards as cash from an ATM or direct or direct depositing them into a checking account is reserved for Wells Fargo customers. If you have a Wells Credit Card or Debit Card, you can get an increment of $20 for your general transactions
Best Alternative Cards of this Card
There are two prominent alternative Cashback Cards in the segment of low-cost maintenance cards, which include the following.
Citi Custom Cash Card: It can be a better card if you prefer to spend lesser than $1000 as this card offers a cashback of $200 with a cap of $750. Moreover, up to this cap, it offers 5% cashback and 1% unlimited cashback.
Discover It Cash Card: It can be a better choice if you prefer a cashback card with lower maintenance cost and a comparatively higher cap. This card offers a 5% Cashback with a cap of $1500, and then 1% unlimited cash back is applicable.
Here is a quicks comparison.
|Fees & Rates||Wells Fargo Active Cash Credit Card||Citi Double Cash Card|
|Welcome Bonus/Sign-up Bonus||$200 Cash Rewards bonus after you spend $1,000 on purchases in your first 3 months from Account Opening||None|
|Cashback Rewards||2% after the purchase||2% total (1% as you buy and 1% as you pay)|
|Intro APR||0% APR for 15 Months||0% APR for 18 Months|
|Regular APR||Variable $14.99- $24.99||Variable 13.99-23.99|
|Foreign Transaction Fees||3%||3%|
Wells Fargo Active Cash Credit Card vs. Citi Double Cash Card in Details.
In this comparison, the Active Cash Card gives you a better run for your money. The Citi Double Cash is another no-annual-fee card offering an infinite 2% cashback- 1% when the purchase takes place and another 1% when the purchase is paid off.
Those who need a more extended period for balance transfer should choose the Citi Double Cash, albeit it doesn’t offer a welcome bonus. But with a 0% introductory APR on both balance transfers and purchases, the Active Cash Card comes up with an upper hand.
The Wells Fargo Active Cash Credit Card offers Visa Hotel Perks, while the Double Cash Card offers Citi Entertainment Perks. So here, we can call it a draw.
The Active Card’s Mobile Protection may be a benefit left mostly unanswered by the Double Cash Card, just like the welcome bonus.
It’s too close of a fight to call. These two cards are compatible, and we believe that the Citi Double Cash Card is no longer the king of the ring since it has met its equal that offers equal cashback rewards in its own territory.
Odds of Approval
It should be pretty easy for you to qualify for the Approval Process if you have a very good to excellent credit score (ranging from 700 and above).
If your credit score is below or around 600, your odds of approval are slim.
How to redeem Cashback Rewards using Wells Fargo Active Cash Credit Card?
You can redeem Cashback Rewards in various forms, as listed below:
- Physical Cash ( along with an increment of $20 at Wells Fargo ATMs, using Fargo Cards).
- Direct Deposits into Fargo accounts.
- Gift Cards (via Wells Fargo Go Far Rewards).
- Travel, including flights, car rentals, and hotel stays.
Verdict: Should you go for Wells Fargo Active Cash Credit Card?
Wells Fargo Active Cash Credit Card Review
The Wells Fargo Active Cashback Card might be a top choice among flat-rate credit cards. It is rich, yet straightforward rewards rate means it is often ideal as either a single-card solution or as a part of a multi-card system, and it comes with incentives not usually found on other 2%-back cards. In short, it is almost unbeatable in its segment.
However, if you are looking to spend less than $1000 and still get a similar cashback reward but a higher cashback reward, then Citi Custom Card Card might be the best choice for you. And in case if you are looking for a higher spending limit higher than $1000, then Discover It Cash Card might be the best choice for you as you can attain 5% cashback rewards with a higher cap of $1,500.
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