To get the Wells Fargo $200 Cash Rewards bonus, you have to get approved for the Wells Fargo Active Cash® Card and spend $1,000 within the first 3 months from account opening. Keep in mind that Wells Fargo Active Cash requires at least good credit.
In addition to its $200 Cash Rewards bonus, Wells Fargo Active Cash features a $0 annual fee and offers 2% cash rewards. And your cash rewards don’t expire as long as you keep your Wells Fargo Active Cash account open.
Key Things to Know About the Wells Fargo Initial Bonus
The Wells Fargo credit card initial bonus is redeemable within 1 -2 billing cycles after it is earned.
Certain transactions such as cash advances and equivalents, balance transfers, along with fees and interest of any kind do not go toward earning you the initial bonus.
If you opened a Wells Fargo credit card 15 months from the date of your application and received introductory APR(s), fees, and/or bonus rewards, you may not be eligible for the initial bonus and/or introductory APR(s) and fees.
It’s also worth noting that there is one more Wells Fargo credit card offering an even higher bonus, the Wells Fargo Autograph℠ Card. This card gives 30,000 points for spending $1,500 in the first 3 months (limited-time offer ending 1/10/2023). Plus, cardholders get good on purchases. There are also several more credit cards with a $200 bonus, from different issuers, like Chase Freedom Flex℠.
You can use Wells Fargo rewards points for travel, cash back, gift cards, or merchandise. Wells Fargo rewards points are typically worth 1 cent each, depending on how they’re used. Wells Fargo also requires rewards point redemption in increments of $20 or $25, depending on the redemption method.
Newly earned Wells Fargo rewards points are available to redeem the day after your billing cycle ends. Points don’t expire as long as your account remains open, and you can save up as many as you want.… read full answer
It is also worth mentioning that there are three ways to redeem Wells Fargo points: Online, by phone, or through a Wells Fargo ATM.
Here’s how to redeem Wells Fargo rewards points:
Online: To redeem online, log in to the Wells Fargo Rewards portal and click “Use.” Then, select the type of redemption you want. If you prefer to redeem
Phone: To redeem by phone, call (877) 517-1358. These two methods require you to redeem points in $25 increments if you want gift cards or cash back. The cash back options are a check, a direct deposit, or a statement credit toward a Wells Fargo account balance. For travel and merchandise, you can redeem points up to your available rewards balance, regardless of the amount.
ATM: To redeem points for cash back at Wells Fargo ATMs, enter your PIN, and choose the rewards option. Then, select an amount in multiples of $20 (2,000 points).
You can earn Wells Fargo rewards points – officially called “Wells Fargo Rewards” points – with two cards: The Wells Fargo Rewards® Card and the Wells Fargo Visa Signature® Card. Keep in mind that transactions such as cash advances and balance transfers do not earn rewards points – only purchases do.
You’ll get the best value for your Wells Fargo rewards points if you spend them on travel, cash, statement credits, or gift cards. You may even be able to catch the occasional sale on gift cards and get them for fewer points than normal.
Direct Deposit is a free service that automatically deposits recurring income into your account. You will be able to access the funds on the day of the deposit. Please find more details here: https://www.wellsfargo.com/help/direct-deposit.
WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.
WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. This question was posted by WalletHub. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.