Wells Fargo Active Cash Credit Card Review

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Wells Fargo Active Cash offers an unlimited cash bonus rate of 2% on purchases and no annual fee. This puts it in competition with the best flat-rate cash back cards on the market. The introductory APR also makes it a solid choice for buying and transferring. New cardholders will receive an initial 0% APR on purchases and qualifying balance transfers within 15 months of account opening, followed by a variable APR of 15.24% to 25.24%. Balance transfers made within 120 days are eligible for the introductory rate and 3% fee, followed by up to 5% fee with a $5 minimum.

Flat-rate 2% cash back cards are rare, but the simplicity and easy earning of rewards offered by the Active Cash card make it a very easy option. The card also offers cell phone protection benefits and other perks such as Visa Concierge and Visa Signature Luxury Hotel Collection. While there are fewer perks, this card is clearly not about trivial perks. This card is best for those who don’t need any frills and just want to focus on cash back.

There are a few issues that may limit the style of this map. A 3% foreign transaction fee and no travel allowance means it’s not suitable for globetrotter types. For those who spend a lot of money in specific areas like groceries or gas, they may find that a card that offers more rewards where they spend the most will bring in more money. Still, Active Cash is a good option for most people, and can even be combined with another rewards card to help you maximize your earning potential.

At first glance

$0 annual fee
Unlimited 2% cash bonus on purchases
0% introductory APR for 15 months from account opening purchases and qualifying balance transfers, followed by a variable APR of 15.24% to 25.24%. Balance transfers made within 120 days qualify for the introductory rate and 3% fee, then up to 5%, with a $5 minimum
$200 Cash Reward Bonus after spending $1,000 in the first 3 months
3% foreign transaction fee.

Wells Fargo Active Cash Credit Card Rewards

Earn rewards

Earn rewards easily with Wells Fargo Active Cash: Earn 2% Unlimited Cash Rewards on Purchases. Rewards are part of the Go Far Rewards Program and do not expire as long as the account is open.

Wells Fargo Active Cash also comes with a welcome bonus: a $200 bonus after spending $1,000 in the first 3 months.

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Redeem rewards

Go Far Rewards rewards can be redeemed for cash back, purchases, gift cards, charitable donations and more. Rewards can be transferred between Go Far Rewards members, and adding an Active Cash card to an existing Go Far Rewards account means switching or adding cards is easy.

Reward Potential

To determine the return potential of Wells Fargo Active Cash, we need to take into account the amount US households are likely to spend on their credit cards each year. Forbes Advisor uses data from various government agencies to determine basic income and average spending for each category. 70% of wage-earning households bring in $100,172 per year, and our payout is based on that number.

Forbes consultants estimated that the family had $26,410 in charges that could reasonably be charged to the credit card. With 2% cash back, Active Cash will earn you $528.20 annually after paying for all purchases.

0% introductory price

This card offers an introductory APR of 0% for 15 months after account opening and eligible balance transfers, after which a variable APR of 15.24% to 25.24% applies. Balance transfers made within 120 days are eligible for the introductory rate and 3% fee, then up to 5%, with a $5 minimum.

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Wells Fargo Active Cash Credit Card Offer

Cell Phone Protection: Cell phone protection for those who are clumsy or at risk of accidents.
Visa Concierge: 24/7 365 phone support for travel and entertainment needs.
Visa Signature Luxury Hotel Collection: Additional benefits and perks for the global hotel collection.

Beautifully printed

Interest expense

Regular APR: 15.24% – 25.24% Variable APR
Buy Intro APR: 0% Intro APR for 15 months after account opening
Introductory APR for Account Transfers: 0% introductory APR for 15 months from account opening for eligible account transfers

Cost

Annual fee: $0
Balance transfer fee: Up to 5%; Minimum: $5
Cash Advances: See Important Credit Terms
Outsourcing transaction fee: 3%.

Here are the fares for the Wells Fargo Active Cash Credit Card

Wells Fargo Active Cash℠ Card vs. Citi® Double Cash Card

Double your cash on the move, Active Cash lets you get what you pay for. Citi Double Cash is another card with no annual fee that offers unlimited 2% cash back on all purchases – 1% on purchases and 1% on withdrawals

Those who want longer introductory balance transfers should opt for Citi Double Cash, although it doesn’t offer the welcome bonus. Comparing the two, Active Cash offers deals on Visa Hotels and Double Cash counters offer deals on Citi Entertainment, so we call it a draw. Phone protection on your Wells Fargo card is a perk you won’t find in Double Cash, as is the welcome bonus.

The two cards work so well together that we believe the long-standing dominance of the Citi Double Cash 2% cash back card has declined – the Wells Fargo card achieves the same in terms of rewards.

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Wells Fargo Active Cash℠ Card with Chase Freedom Unlimited

The Wells Fargo Active Cash℠ Card is a math-free alternative to cards like Chase Freedom Unlimited. Freedom Unlimited offers slightly more complicated cash back: 5% cash back on travel purchases through Chase Ultimate Rewards®, 3% cash back on eligible restaurant and drugstore purchases, and 1.5% on all other purchases. Will the 3% cashback category make up for the missing 0.5% cashback on everything else? When choosing between the two, it’s up to you to decide based on your spending habits.

Chase Freedom Unlimited offers other benefits including purchase protection, extended warranties and a range of travel protection policies. Active Cash only provides phone protection when additional services are involved. Chase Freedom Unlimited offers an introductory APR: 0% introductory APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 14.99% – 23.74% will apply. Both cards have a similar welcome bonus, but Freedom Unlimited is easier to get: Spend up to $20,000 on any purchase in the first year as a cardholder and get a 1.5% cash back bonus – that’s $300 in first year value USD cash back.

For some people, Chase Freedom Unlimited will make more sense. For others, active cash is simple and easy to calculate. These cards might be a good pairing for some, but it’s more likely that using Active Cash with a card with a higher income and a wider range of benefits will serve most people better.

Wells Fargo Active Cash℠ Card with Discover it Cash Back

Discover it® Cash Back is a card with a dual cash back rewards program: 5% cash back on everyday purchases at various locations each quarter, up to $1,500 per quarter when activated. Plus, automatically get unlimited 1% cash back on all other purchases. Discover automatically reconciles any cash back earned as a cardholder at the end of the first year. There is no minimum spend or maximum reward.

Discover it® Cash Back offers an introductory APR offer: Receive an introductory 0% APR on purchases and qualifying balance transfers within 15 months. Then the standard tax rate of the variable 12.24% – 23.24% applies. The transfer fee is up to 5% of the transfer amount, similar to Active Cash, and there is no annual fee per card. Just like Active Cash, Discover it® Cash Back is not for those looking to take advantage of travel, shopping protection or other perks.

Active Cash, larger payouts will outperform Discover it® Cash Back in terms of cash back earnings. However, the best use of these cards is probably to use them together – Discover it® Cash Back for up to 5% cash back on each rotating category, and Active Cash for all other purchases. For those who just need one card to pay for everything, we would definitely recommend Active Cash in most cases.

Is the Wells Fargo Active Cash Credit Card Right for You?

With unlimited 2% cash back on purchases, the Wells Fargo Active Cash Card is a great option for almost everyone – except those who tend to spend internationally. While it’s not for those who want a card with all the perks, it’s a great card to earn easy, effective cash back without the hassle of keeping track of categories. It’s also a great addition to a rewards card for higher earnings in certain categories.

Escrito por

Jake Smith

He is the editor of Eragoncred. Previously, he was editor-in-chief of Eragoncred and a financial industry reporter. Jake has spent most of his career as a Digital Media journalist and has over 10 years of experience as a writer and editor.