Card issuers have continually adapted and reorganized their credit card offerings to reflect recent trends in consumer spending. For example, Wells Fargo has quietly worked on improving its credit cards, and the first of its new card offerings, the Wells Fargo Active Cash℠ card, has arrived.
With unlimited 2% on purchases, the card can safely take its place among the best flat rate cash rewards credit cards. Even with no annual fee, the card offers impressive perks such as cell phone insurance and travel benefits, as well as a welcome bonus and an APR introductory offer.
What the Wells Fargo Active Cash Card offers
- Earn a $ 200 cash rewards bonus when you spend $ 1,000 on purchases in the first three months
- Earn unlimited 2% cash rewards on purchases with no category limits or quarterly activations
- No annual fee
- Get an introductory 0% APR for 15 months on purchases and balance transfers; 14.99%, 19.99% or 24.99% variable APR thereafter
Earn and redeem rewards
Earning rewards with the Wells Fargo Active Cash Card is easy. Just use your Active Cash card to pay for your purchases and you’ll earn 2% cash rewards. Unlike some cash rewards cards, you don’t need to follow certain categories or activate anything to get your rewards. You just have to spend and the rewards pile up.
Like the Wells Fargo Cash Wise Visa®, you have flexible options for redeeming your rewards, including:
- Cash refund in $ 20 increments at Wells Fargo ATMs using your Wells Fargo ATM or Debit Card
- Direct deposit into your qualifying Wells Fargo savings or chequing account
- Travel to the Go Far Rewards site
- Gift cards and travel through the Wells Fargo Win Over Mall
- Apply for credit on your qualified Wells Fargo mortgage, credit or loan account
Wells Fargo sweetens the deal on this card with a cash rewards bonus: earn $ 200 after spending $ 1,000 in the first three months after opening the card. Plus, if you want to transfer high-interest debt or hold onto your cash with larger purchases, you can take advantage of the introductory 0% APR for 15 months.
There is a growing list of perks and perks offered by the Active Cash card that you don’t often see without an annual fee:
- Mobile phone protection (you must pay your monthly mobile phone bill with your Active Cash Card)
- Advanced security features including voice verification and two-step verification during digital banking login
- Access to Visa Signature Concierge Service and Visa Signature Luxury Hotel Collection
- Credit education tools like accessing your FICO score
How to Get the Most Out of the Wells Fargo Active Cash Card
Depending on your current spending habits, Wells Fargo Active Cash can be a great card for all of your spending or a backup card when you’ve hit maximum rewards in your other categories like groceries, travel, or meals.
If you get a great cash back rate on your groceries with, say, the Blue Cash Preferred® card from American Express, which offers 6% cash back on U.S. supermarket purchases (up to $ 6,000 per year). , then 1% discount), you reserve the Active Cash Card to recover at least 2% for other purchases that do not earn as much.
Another way to maximize this card is to use it for larger purchases. For one thing, you can use both your welcome bonus and the 2% cash rewards to offset the cost of the purchase. Second, you can get 15 months of financing like cash with the 0% introductory APR offer.
Should you get the new Wells Fargo Active Cash card?
If your goal is to save on a big purchase or to simplify your cash earning, Wells Fargo Active Cash offers a lot of things that could help. It is also a good card for daily expenses.
The only downside is that Wells Fargo is always revamping its card lineup, so there is no strategy yet to combine cards and increase rewards through card matching like with Chase or American Express cards.
If you are already a Wells Fargo customer, perhaps with other credit cards or loans, you might take advantage of the repayment options offered by the Active Cash card that could help you pay off those balances faster.
The Active Cash card should be considered for anyone looking to offset the cost of a large purchase or pay off high interest debt or looking for a flat rate reward card to add to their wallet.