When it comes to credit cards that offer cash back rewards, the Wells Fargo Active Cash Credit Card is a leading contender. With its highly competitive flat-rate cash back rewards and no annual fee, this card has gained attention among consumers looking for a straightforward, rewarding option for their everyday purchases.
The Wells Fargo Active Cash Credit Card boasts an unlimited 2% cash rewards rate on all purchases, making it an ideal choice for those who prefer a simple, consistent rewards structure. Additionally, this card offers generous welcome bonuses and intro APR offers, adding to its overall appeal.
As with any financial product, it’s essential to weigh the benefits and drawbacks of the Wells Fargo Active Cash Credit Card when considering it for your wallet. In the following article, we will explore the card’s features, rewards structure, fees, and more to help you make an informed decision.
Key Features
The Wells Fargo Active Cash Credit Card comes with several noteworthy features that make it an attractive option for those looking to earn cash rewards on their spending.
First and foremost, cardholders can earn an unlimited 2% cash rewards on purchases, which is a competitive rate compared to other flat-rate credit cards on the market. This makes the card ideal for those who want a simple rewards structure without the need to track bonus categories or spending limits.
Another key advantage of the Wells Fargo Active Cash card is its $0 annual fee, which allows cardholders to enjoy the benefits of cash rewards without any recurring costs.
In addition to the cash rewards, the card also offers a 0% introductory APR on purchases and qualifying balance transfers for a specific period, typically 15 months. This feature can be especially helpful for those planning to make large purchases or consolidate existing high-interest debt.
Lastly, the Wells Fargo Active Cash card provides added benefits such as:
- Cell phone protection when you pay your monthly bill with the card
- Access to the Wells Fargo Earn More Mall, where you can earn bonus rewards at participating retailers
- Travel and emergency assistance services
- Rental car insurance coverage
Overall, the Wells Fargo Active Cash Credit Card offers a straightforward rewards structure and a range of additional perks, making it a valuable option for those looking to maximize cashback earnings and take advantage of its zero annual fee.
Rewards Program
The Wells Fargo Active Cash® Card offers a highly competitive rewards program for cardholders. This credit card features a flat-rate 2% cash back on all purchases, making it an ideal choice for those who prefer a simple rewards structure without worrying about rotating categories or spending limits.
In addition to its consistent 2% cash back rate, the card also offers a generous welcome bonus. New cardholders can earn a $200 cash rewards bonus after spending $1,000 within the first three months of account opening. Combining this bonus with the ongoing rewards rate enhances the earning potential for Active Cash cardholders.
Another highlight of the Wells Fargo Active Cash® Card rewards program is its flexible redemption options. Cardholders can redeem their rewards in multiple ways, including as a statement credit, direct deposit to a Wells Fargo account, or for eligible purchases at selected merchants. This added flexibility allows users to tailor their rewards experience to suit their preferences and financial goals.
Additionally, the card provides some valuable extra benefits and protections for its cardholders. One notable perk is the complimentary cellphone coverage that offers protection against theft or damage when you pay your monthly phone bill with the Active Cash card.
Interest Rates and Fees
The Wells Fargo Active Cash Credit Card stands out as a strong option for those looking for a no annual fee card that offers a high rewards rate on purchases. With a $0 annual fee, the card’s expenses are relatively low compared to other credit cards in the market.
Although the card’s ongoing APR may not be the lowest available, it offers an attractive introductory 0% APR on purchases and qualifying balance transfers for the first 15 months of card membership. After the introductory period, the card’s variable APR ranges from 14.99% to 24.99%, depending on your creditworthiness.
Besides the low-cost, the card also offers some additional benefits, such as:
- Balance transfer fee: 3% for the first 120 days, then 5% after that
- Cash advance fee: 5% or a minimum of $10
- Foreign transaction fee: 3%
- Late payment fee: Up to $40
- Return payment fee: Up to $29
Although the Wells Fargo Active Cash Credit Card carries some fees for specific transactions, the absence of an annual fee and the generous flat-rate cash back rewards on purchases make it a competitive option among cash back credit cards.
Pros and Cons
The Wells Fargo Active Cash Credit Card offers several advantages and disadvantages, which are important to consider when deciding if this card is right for you.
Pros
- High cash back rewards rate: The card boasts a competitive 2% cash back rewards rate on all purchases, making it an ideal choice for those looking for a flat-rate card.
- No annual fee: With a $0 annual fee, cardholders can maximize their rewards potential without worrying about an extra cost.
- Generous welcome offer: The Wells Fargo Active Cash Card includes a valuable welcome bonus for new cardholders who meet the spending requirements .
- Introductory APR offers: The card provides an introductory 0% APR on purchases and balance transfers for a limited time, offering additional value for those looking to finance new purchases or pay down existing debt.
Cons
- Requires good to excellent credit: The Wells Fargo Active Cash Card is best suited for individuals with a credit score of 700 or higher.
- Limited categories for bonus rewards: While the card offers a flat 2% cash back on all purchases, it lacks the bonus rewards that some other cards offer on specific spending categories such as dining or travel.
- Foreign transaction fees: International travelers might find the foreign transaction fees associated with this card to be a financial drawback.
User Experience
When it comes to user experience, customers have had mixed opinions on the Wells Fargo Active Cash Credit Card. Some customers have praised the card for its simplicity and its unlimited 2% cash rewards on purchases along with no annual fee. This makes the card a compelling option for those who want an easy-to-understand rewards structure.
On the other hand, there have been complaints about the card’s cashback redemption system. Customers are limited to redeeming cash back in increments of $25, $50, $75, and so on. This limitation can be frustrating for users who prefer more flexibility in using their rewards.
As for customer service, experiences have differed. Some cardholders have had negative encounters, raising concerns about the overall customer support offered by Wells Fargo. However, it’s essential to keep in mind that experiences can vary, and individual customer interactions may not represent the entirety of Wells Fargo’s service quality.
Comparison to Other Credit Cards
The Wells Fargo Active Cash Card is a strong contender in the flat-rate cash back credit card market. To see how it measures up, let’s compare it to similar credit cards:
Citi® Double Cash Card: This card offers 1% cash back when you make a purchase and another 1% when you pay it off, effectively providing a total of 2% cash back. It also has a $0 annual fee. However, it doesn’t have a welcome bonus, unlike the Wells Fargo Active Cash Card’s $200 cash rewards offer.
Bank of America® Customized Cash Rewards Credit Card: This card allows you to earn 3% cash back in a category of your choice (such as gas, online shopping, or dining) and 2% at grocery stores and wholesale clubs, up to a combined quarterly cap. You’ll also earn 1% cash back on all other purchases. Like the Wells Fargo Active Cash Card, this one also has a $0 annual fee, but its welcome bonus is lower, offering $200 cash rewards after spending $1000 within the first 90 days.
Chase Freedom Unlimited®: This card offers 5% cash back on travel booked through Chase Ultimate Rewards, 3% on dining and drugstore purchases, and 1.5% on all other purchases. It has a $0 annual fee, and its welcome bonus consists of an additional 1.5% cash back on all purchases (up to $20,000) within the first year of opening the account.
In summary, the Wells Fargo Active Cash Card’s 2% flat-rate cash back and generous welcome bonus make it a worthwhile option, especially if you’re looking for a simple, no-nonsense cash back card. On the other hand, if you want more category-specific rewards or prefer customizable cash back options, other cards may suit your needs better.
Conclusion
The Wells Fargo Active Cash Credit Card is a solid choice for those seeking a straightforward cash rewards credit card. With its 2% cash back on all purchases and no annual fee, it offers consistent value for cardholders.
Additionally, the generous sign-up bonus mentioned in this Bankrate review only adds to its appeal, making it an attractive option for individuals looking to maximize their cash rewards without incurring unnecessary costs.
While the Wells Fargo Active Cash Credit Card may not boast a plethora of extra perks, its simplicity and rewarding structure make it a popular choice among users, as evidenced by the Credit Karma reviews.
In summary, the Wells Fargo Active Cash Credit Card is an appealing option for those who value consistent cash back rewards and a no-frills, easy-to-understand rewards structure.