What are the best Wells Fargo Cash Wise benefits?

Wells Fargo Cash Wise approval odds were good if you had a credit score of 700, at a minimum - this meant you needed good credit or better to get approved. Unfortunately, the Wells Fargo Cash Wise is no longer available to new applicants.

Wells Fargo’s best cash back current offering is the Wells Fargo Active Cash® Card. Wells Fargo Active Cash requires a credit score of 700, at a minimum, for good approval odds. That means applicants will need good credit or better for approval. In addition, Wells Fargo looks at applicants’ housing status, monthly housing payment, and employment status. So to have the best approval odds, applicants will need to demonstrate that they are financially responsible and have the means to afford purchases on the card. And as with any other credit card account, Wells Fargo Active Cash requires applicants to be at let 18 years old.… read full answer

Wells Fargo might also send you a pre-approved offer by mail and you can respond to it by flagging your application with your reservation number. You can also check whether you are pre-selected for a credit card offer. Pre-approval is generally a better indicator for good chances of approval as it is based on a soft inquiry on your credit report. Pre-selection is typically based only on demographic data. In either case, your odds of approval are good, but not guaranteed.

If you haven’t received a pre-approved or pre-selected offer, the best way to proceed is to check your credit score. If you don’t know where you currently stand, you can check your credit score for free, right here on WalletHub. Also, having a steady income and minimal existing debts will increase your chances of approval. Ideally, you should only be using 30% or less of any other credit you already have. A utilization ratio higher than that might damage your approval odds.

The Wells Fargo Cash Wise credit limit was at least $1,000 for all cardholders. It was also possible for someone to start with a credit limit well over $1,000, depending on various factors like their credit score and income. Some customers report getting more than $10,000. However, this card is not available to new applicants anymore.… read full answer

What You Could Get Instead of Wells Fargo Cash Wise

While Wells Fargo Cash Wise is no longer an option, the Wells Fargo Active Cash® Card provides a great alternative. This card offers a minimum credit limit of $1,000 to all applicants who get approved. Plus, the card offers $200 cash rewards after spending $1,000 in the first 3 months. Also, Wells Fargo Active Cash gives you 2% cash rewards. With a $0 annual fee, this card is currently considered one of the best cash back credit cards on the market.

If you are aspiring to increase your spending power, you could also check our editors’ latest picks for the best high limit credit cards to weigh your options.

Existing Wells Fargo Cash Wise Cardholders: How to Increase Your Credit Limit

If you’re already a Wells Fargo Cash Wise cardholder and you’re not satisfied with your initial credit limit, you can always ask for a credit limit increase. To do so, call (800) 642-4720. You should have at least 6 consecutive months of on-time payments before you call, for the best chances of success.

Depending on the account, Wells Fargo may or may not need to do a hard inquiry into your credit history to make a decision. If they do, your credit score will drop a few points. Wells Fargo will also periodically review your account, so they might eventually offer you an automatic credit limit increase even if you don’t ask. Automatic credit limit increases use a harmless soft credit inquiry.