Wells Fargo Active Cash® Card Review

When browsing the market for credit cards that offer cash rewards, some of the most important factors to consider are rewards (Are top rewards offered for purchases that fit into your current budget and lifestyle?), extra features (Are there "fine print" perks that will benefit you?) and fees (Are the fees reasonable based on the rewards and perks of the card?).

The CardName answers "Yes!" to all of the above for a wide array of customers by offering 2% cash rewards on every eligible purchase, an easily attainable (though modest) welcome bonus, a AnnualFees annual fee and a 0% introductory APR from account opening for purchases and qualifying balance transfers for 15 months (then, RegAPR; balance transfers made within 120 days qualify for the intro rate and fee of BalanceTransferFees) among other features.

CardName REWARDS

Accumulating cash rewards with the CardName is as simple as making a purchase. Cardholders earn unlimited 2% back on every eligible purchase made. For example, if you use your Active Cash^SM Card for $1,500 in purchases each month, you would accumulate $360 in rewards over the course of a year.

Rewards accumulate in the Wells Fargo Go Far® Rewards program, which offers a variety of simple options for redemption, including statement credit, bank check, gift cards, Wells Fargo ATM withdrawal, air travel, hotel stays and car rentals. You can even use them toward a qualifying Wells Fargo mortgage or share them with other Wells Fargo cardholders.

FEATURED CARD

 

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• Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $900 toward travel when you redeem through Chase Travel℠.
• $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year.
• Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Travel℠ immediately after the first $300 is spent on travel purchases annually. Earn 3x points on other travel and dining & 1 point per $1 spent on all other purchases
• Get 50% more value when you redeem your points for travel through Chase Travel℠. For example, 60,000 points are worth $900 toward travel.
• 1:1 point transfer to leading airline and hotel loyalty programs
• Access to 1,300+ airport lounges worldwide after an easy, one-time enrollment in Priority Pass™ Select and up to $100 application fee credit every four years for Global Entry, NEXUS, or TSA PreCheck®
• Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more
• Member FDIC

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Credit Needed:

Excellent

CardName BENEFITS

In addition to its rewards program, the CardName features other attractive benefits to put cash in your pocket or help you save money.

Right out of the gate, you can earn a $200 cash rewards bonus when you make just $500 in qualifying purchases over the first three months from account opening. While it's advertised as a "cash rewards bonus," the bonus is issued as Go Far® Rewards, so you can redeem through that program in any of the ways mentioned above.

The Active Cash^SM Card also offers an introductory 0% APR on new purchases and qualifying balance transfers for 15 months from the time you open your account. If you happen to be carrying a significant balance at a high rate of interest on another card, this offer could save you hundreds of dollars in interest over the course of those 15 months. Note that balance transfers must be made within 120 days of opening your account and are subject to a balance transfer fee. After the 15-month introductory period, the interest rate shifts to RegAPR.

One thing that won't change, however, is your annual fee. The CardName has a $0 annual fee.

In addition to the benefits and features specific to the Active Cash^SM Card, it being a Visa card opens up a whole other slate of benefits. Cardholders qualify for zero liability protection for unauthorized purchases, roadside assistance and auto rental collision coverage. You also qualify for Visa Signature Benefits, including 24/7 Visa Concierge Service, extended warranty protection, emergency travel assistance and perks at certain luxury hotels.

MOBILE PHONE PROTECTION WITH YOUR CardName

Using your CardName to pay your monthly cellular phone bill comes with a nifty benefit: Cardholders receive up to $600 in protection against covered damage or theft (subject to a $25 deductible). This can provide great piece of mind, but also saves you the cost of third-party mobile phone insurance.

Covered phones are those listed on the most recent mobile bill you've paid with your Active Cash^SM Card and claims are limited to two per 12-month period, with a maximum coverage of $1,200 in that time ($600 per claim).

POTENTIAL DOWNSIDES OF THE CardName

CardName charges a foreign_fee fee on all foreign transactions, meaning you might want to leave it at home when travelling abroad. Keep in mind, too, that shopping online with merchants that are based abroad could also trigger that foreign transaction fee. Make sure your purchase is in U.S. dollars if you don't want to pay extra when using this card.

Additionally, the $200 welcome bonus opportunity is nice, but there are equal or better cash rewards bonuses out there for a lesser spending threshold.

Lastly, the Go Far® Rewards program has some excellent and useful features – redeeming your rewards via an ATM withdrawal, for instance – but it isn't as lucrative a program as some of the other rewards program currencies out there. If your primary goal is straight cash rewards, this program works just fine and you'll get the value you expect. If you're wanting to redeem for travel rewards, there are better rewards currencies on the market.

HOW DOES THE CardName COMPARE TO OTHER CARDS?

CardName vs. CardName

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There are numerous similarities between the CardName and the CardName. In fact, you have to look closely to find the key differences that might influence your choice. Citi is a CardRatings advertiser

Neither card charges an annual fee and both offer unlimited 2% cash rewards on purchases; however, while the Wells Fargo card offers 2% on the purchase itself, the Citi card offers 1% at the time of purchase and another 1% when you actually pay for the purchase. If you're paying your credit card balance off in full every month, this difference is really a moot point. If you carry a balance, however, just know that you won't earn that full 2% on the Citi card until you pay for the purchase.

Both cards also offer introductory APRs, but their terms are quite different. The Citi card offers a longer period of 18 months, but only for balance transfers (after the intro, the APR becomes RegAPR).

The Citi® Double Cash welcome bonus is similar, but the terms a slightlhy different. New cardholders can earn $200 cash back once spending $1,500 on purchases in the first six months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.

CardName vs. CardName

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The biggest difference between these two cards is in the structure of the rewards. If simplicity is your goal, CardNameis the best option with 2% cash rewards earn on all purchases. If you're more concerned with maximizing rewards, consider the CardName, which earns 3% cash back in a category of your choice (gas and EV charging station, online shopping/cable/internet/phone plan/streaming, dining, travel, drug store/pharmacy or home improvement/furnishing purchases) and 2% at grocery stores and wholesale clubs for the first $2,500 of combined bonus category/grocery store/wholesale club spending per quarter. Earn 1% on all other purchases. You can change your bonus category once per calendar month.

Obviously, you could earn quite a bit more cash back with the Bank of America card, but the tradeoff is that it's a much more complex system to keep up with, so you'll want to decide if simplicity or maximum rewards is best for you.

It's also notable that these cards have similar welcome bonuses. With the Bank of America option, cardholders can earn a $200 online cash rewards bonus once making at least $1,000 in purchases in the first 90 days of opening an account.

CardName vs. CardName

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Both of these are cash rewards cards, both have a $0 annual fee and both have an introductory rate of 0% on purchases and balance transfers for the first 15 months (then, RegAPR for Freedom Unlimited®). That means you'll want to look beyond those things to make a decision that best for your wallet.

While CardNameoffers 2% cash rewards on purchases, CardName offers tiered rewards in a variety of categories: 6.5% cash back on travel purchased through Chase Travel℠, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 3% on all other purchases (on up to $20,000 spent in the first year). After your first year or $20,000 spent, enjoy 5% cash back on Chase travel; 3% cash back on drugstore purchases and dining; and unlimited 1.5% cash back on all other purchases.

Both cards offer multiple ways to redeem your rewards, although the rewards you earn with Freedom Unlimited® accumulate as points through Chase Travel, a popular travel rewards currency. If you have other cards in the Ultimate Rewards® family, your rewards with Freedom Unlimited® could be worth more. You can read more in our Guide to Chase Ultimate Rewards®.

As far as welcome bonuses go, the Chase card is unique with an intro offer for cardholders to earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back.

This decision could again be one of simplicity or it could be that you make a decision based on where your loyalties lie. If you already have other Chase Ultimate Rewards® points earning cards, Freedom Unlimited® likely fits better into your rewards strategy.

IS CardName A GOOD CARD?

The CardName is an excellent card for straight cash rewards as it's one of very few on the market to offer 2% cash rewards on your eligible purchases. Additionally, multiple redemption options allow you to take advantage in a way that best suits your lifestyle and budget even if cash rewards isn't your goal in a given month or season.