Wells Fargo Active Cash® Card review: Effortless 2% cash rewards on purchases
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BLUEPRINT
Updated 5:20 p.m. UTC June 7, 2024
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The headlining feature of this no-annual-fee rewards card is the generous 2% cash rewards on purchases. But the card comes with other exceptional benefits, too. We’ll explain more in our Wells Fargo Active Cash® Card review.
Editor’s note: This article contains updated information from a previously published story
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Wells Fargo Active Cash® Card
Wells Fargo Active Cash Card basics
- Annual fee: $0.
- Welcome bonus: Earn a $200 cash rewards bonus after spending $500 in purchases in the first three months of account opening.
- Rewards: Earn an unlimited 2% cash rewards on purchases.
- APR: 0% intro APR for the first 15 months on purchases and qualifying balance transfers, then a 20.24%, 25.24%, or 29.99% variable APR applies thereafter. Balance transfers made within 120 days qualify for the intro rate and fee of 3%. After that a fee of up to 5%, with a minimum of $5 applies.
- Other perks and benefits: Cellphone protection for damage and theft, access to the Visa Signature Concierge and the Visa Signature Hotel Collection.
- Does the issuer offer a preapproval tool? No.
- Recommended credit score: Good to excellent.
Wells Fargo Active Cash Card review
If you’re seeking a simple and generous cash-rewards card, the Wells Fargo Active Cash® Card fits the bill. There’s no annual fee and the card earns an unlimited 2% cash rewards on purchases.
Plus the card comes with valuable extras including cellphone protection when you pay your bill with the card and a 0% intro APR for the first 15 months on purchases and qualifying balance transfers, then a 20.24%, 25.24%, or 29.99% variable APR applies thereafter. Balance transfers made within 120 days qualify for the intro rate and fee of 3%. After that a fee of up to 5%, with a minimum of $5 applies. That drawn-out introductory APR can be a solid avenue for avoiding interest fees and reducing existing debt.
The card’s introductory bonus is also easy to earn. New applicants can receive a $200 cash rewards bonus after spending $500 in purchases in the first three months of account opening. All rewards accrued on the card can be redeemed to offset purchases, deposited as a statement credit, withdrawn at Wells Fargo ATMs in increments of $20 and more. If you also own a Wells Fargo Autograph℠ Card or a Wells Fargo Autograph Journey℠ Visa® Card * The information for the Wells Fargo Autograph Journey℠ Visa® Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. , you can combine the rewards on the two cards and transfer them to one of Wells Fargo travel transfer partners, unlocking potentially valuable travel redemptions.
Wondering what to do with a pile of Wells Fargo points? Our guide to Wells Fargo Rewards explains all.
Pros:
- Welcome offer: Earn a $200 cash rewards bonus after spending $500 in purchases in the first three months of account opening.
- Earn 2% cash rewards on purchases: There’s also no limit to the amount of rewards you can earn.
- Up to $600 of cellphone protection: By paying your monthly cellphone bill with the card, receive up to $600 of protection against theft or damage (up to two claims per 12-month period and subject to a $25 deductible).
Cons:
- There’s a 3% foreign transaction fee. This makes the card a poor choice for international use or making purchases in foreign currencies.
- No bonus categories: There’s no potential to earn greater rewards on your most common purchases, such as groceries or dining out.
Wells Fargo Active Cash Card rewards
Earning credit card rewards doesn’t have to be a nuisance. With the Wells Fargo Active Cash Card, you earn 2% cash rewards on purchases. The card also comes with a welcome offer of a $200 cash rewards bonus after spending $500 in purchases in the first three months of account opening.
Using government data and other publicly available information, we estimate that a household in the U.S. that would be in the market for this card has $29,525 in expenses they are likely to be able to charge to a credit card.
| SPENDING CATEGORY | SPENDING AMOUNT | CASH-REWARDS RATE | CASH-REWARDS EARNED |
|---|---|---|---|
Purchases
| $29,525
| 2%
| $590.50
|
TOTAL
| $29,525
| $590.50
|
In this example, our sample cardholder would earn $590.50 in annual cash-rewards. You can redeem your rewards for purchases on your statement credit for as little as $1.
Other options for redeeming your cash-rewards on the Wells Fargo Active Cash Card include gift cards (in $25 increments), at a Wells Fargo ATM, direct deposit in your qualifying Wells Fargo account or combining your rewards with an eligible Wells Fargo card and transferring your rewards to transfer partners.
Wells Fargo Active Cash Card APR details
The card comes with a useful 0% intro APR for the first 15 months on purchases and qualifying balance transfers, then a 20.24%, 25.24%, or 29.99% variable APR applies thereafter. Balance transfers made within 120 days qualify for the intro rate and fee of 3%. After that a fee of up to 5%, with a minimum of $5 applies.
How the Wells Fargo Active Cash compares to other rewards credit cards
Wells Fargo Active Cash Card vs. Citi Double Cash® Card * The information for the Citi Double Cash® Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
The Citi Double Cash® Card * The information for the Citi Double Cash® Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. is often regarded as the torchbearer when it comes to cash-back cards. It earns rewards in a similar fashion: You earn 2% cash back on purchases — 1% when purchases are made and another 1% when they’re paid off, plus, for a limited time, 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/24. Since you’ll only earn the full cash back when you make card payments, the Citi Double Cash Card incentivizes you to maintain good credit habits.
Also with no annual fee, it’s a great option for cardholders who want to keep their costs at a minimum. Plus it comes with a 0% intro APR on balance transfers for 18 months. After that, the standard variable APR will be 19.24% to 29.24%. An intro balance transfer fee of either $5 or 3%, whichever is greater, applies to transfers completed in the first four months. After that, the fee will be 5% of each transfer (minimum $5). However, there are a few downsides when comparing it to the Wells Fargo Active Cash — including a lack of cellphone protection and having to wait until you pay your bill to earn the other half of rewards.
Wells Fargo Active Cash Card vs Blue Cash Everyday® Card from American Express
The Blue Cash Everyday® Card from American Express (terms apply, rates & fees) is another no-annual-fee option that offers elevated rewards on bonus categories. Namely, cardholders earn 3% cash back at U.S. supermarkets, U.S. gas stations, and online retail purchases in the U.S. (on up to $6,000 in each category per year, then 1%), and 1% cash back on other purchases. Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit or for eligible items at Amazon.com checkout.
With the Blue Cash Everyday’s introductory offer, new applicants can earn a $200 statement credit after spending $2,000 in purchases in the first six months of card membership. Finally, there’s a similar 0% intro APR for 15 months on purchases and on balance transfers requested in the first 60 days, then a variable APR of 19.24% to 29.99%. A balance transfer fee of $5 or 3%, whichever is greater, applies. The better choice between these two cards will depend on your spending habits.
Wells Fargo Active Cash Card vs. Capital One Venture Rewards Credit Card
The Capital One Venture Rewards Credit Card is a simple travel credit card, earning 5 miles per $1 on hotels and rental cars booked through Capital One Travel and purchases through Capital One Entertainment and 2 miles per $1 on other purchases.
Although the card charges a $95 annual fee, there are plenty of opportunities to find outsized value. The welcome bonus offers a greater payout with 75,000 miles after spending $4,000 on purchases in the first three months of account opening. Plus, cardholders can get reimbursement for a Global Entry or TSA PreCheck application fee every four years (worth up to $100).
Is the Wells Fargo Active Cash Card right for you?
The Wells Fargo Active Cash Card offers simple earnings and redemptions, without an annual fee. Anyone seeking a simple cash-rewards card or one to pair with an existing Wells Fargo rewards card can benefit. The added bonuses of an intro APR offer on purchases and balance transfers and cellphone protection are icing on the cake.
Methodology
Our credit card team has spent hours analyzing hundreds of credit cards. We took a deep dive into the details of each product and that analysis, combined with our years of experience covering credit cards, informed us as we developed these credit card rankings.
Some of the factors evaluated in selecting the best rewards credit cards included:
- Rewards potential and redemption options.
- Welcome bonuses.
- Travel and shopping benefits.
- Intro APRs.
- Annual fees.
Frequently asked questions (FAQs)
You may be more likely to get approved for the Wells Fargo Active Cash Card if you have a credit score of 670 or higher, which would put you in the good, very good or exceptional FICO Score ranges. However, there might not be a strict minimum credit score.
Credit card issuers, including Wells Fargo, often consider many factors when reviewing your application. You might get approved with a lower score based on your overall creditworthiness and relationship with Wells Fargo, or denied even if you have a higher score.
Wells Fargo might approve your Wells Fargo Active Cash Card application within a few moments. Some people might be able to sign in to their Wells Fargo account or app and add their new card to a digital wallet instantly. However, this might not be an option for everyone.
The Wells Fargo Cash Card is a credit card that earns rewards. Your account will have a credit limit, which is the highest your balance can go before your new transactions may be automatically declined. You’ll also have the option to make a minimum monthly payment and revolve part of your balance to the next month. However, if you don’t pay your bill in full each month, the revolved balance and your new purchases may start to accrue interest.
You won’t earn rewards if you use the Wells Fargo Active Cash Card for cash-like transactions, which could include cash advances, wire transfers, money orders and prepaid gift cards. You also don’t receive rewards for balance transfers, convenience checks, illegal purchases, dispute transactions or gambling transactions.
The Wells Fargo Active Cash card does not have an annual fee.
For rates and fees for the Blue Cash Everyday® Card from American Express please visit this page.
*The information for the Citi Double Cash® Card and Wells Fargo Autograph Journey℠ Visa® Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
Blueprint is an independent publisher and comparison service, not an investment advisor. The information provided is for educational purposes only and we encourage you to seek personalized advice from qualified professionals regarding specific financial decisions. Past performance is not indicative of future results.
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