The
Wells Fargo Active Cash® Card is one of the best all-around credit cards available right now. You should get the Active Cash Card if you have a credit score of 700 or higher and you want to earn above-average rewards without any hassle and without paying an annual fee. It’s also worthwhile for people interested in 0% introductory APRs and up to $600 in cell phone protection.
What I Like About the Wells Fargo Active Cash Card
2% cash rewards on purchases
Wells Fargo Active Cash cardholders earn unlimited
2% cash rewards on purchases, which is roughly double what the average cash back credit card offers, according to
WalletHub’s Credit Card Landscape Report. Plus, the rewards you earn with this card won’t expire as long as your account is open.
The combination of an elevated earning rate on purchases, transparency in terms of how much the rewards are worth, and hassle-free dependability with no hoops to jump through helps put this card in the upper echelon of everyday rewards cards.
$200 cash rewards bonus
New cardholders can qualify for the $
200 cash rewards bonus by making just
$500 in purchases within
3 months of opening an account. Qualifying should be pretty easy, and the payoff is big enough to make a difference.
The average initial bonus on a cash back credit card offer is currently
$236. Much bigger bonuses are available, if you’re interested, but you generally have to spend a lot more and pay an annual fee to get them.
0% for 12 months from account opening on purchases
This introductory APR could
reduce the cost of interest charges on big-ticket purchases, but don’t forget that you’ll still need to pay at least the minimum amount due each month while the 0% rate is in effect. Also, any balance remaining at the end of the intro term will begin to accrue interest at the card’s higher regular interest rate. But that sure beats having the regular APR apply from the start.
Intro APR of 0% for 12 months from account opening on qualifying balance transfers
You can avoid interest for the first
12 months from account opening on qualifying balance transfers, as long as you pay at least the minimum amount due each billing period. This can help you reduce the cost of existing debt and pay off what you owe much faster.
The card’s 0% intro period is about average in length, but it can still help you reduce the cost of interest charges. You can try our
balance transfer calculator to see just how much.
$0 annual fee
The Wells Fargo Active Cash Card’s
$0 annual fee makes it
$27.85 per year cheaper than the average credit card offer. Still, there are lots of cash back credit cards with no annual fee available right now, and even cards with annual fees could provide the most value at the end of the day.
The total amount that you gain – considering not only the fee, but also the rewards and benefits you get – is what really matters. Fortunately, this card looks good from all angles.
$600 in cell phone protection and other perks
If you pay your monthly cell phone bill with the Wells Fargo Active Cash Card, you can get up to $600 if your phone breaks or is stolen (subject to a $25 deductible). You can also make requests from the Visa Concierge and enjoy special benefits at eligible hotels.
What I Don’t Like About the Wells Fargo Active Cash Card
18.49%, 24.49%, or 28.49% Variable APR
The interest rate on
Wells Fargo Active Cash can be
18.49%, 24.49%, or 28.49% Variable, depending on an applicant’s overall creditworthiness. Currently, the average interest rate among new credit card offers is
22.35%.
Those rates are all too high, so make sure to pay your bill in full every month the regular APR is in effect. You will avoid interest charges that way.
3% - 5% balance transfer fee
If you transfer a balance to Wells Fargo Active Cash in order to avoid interest charges, be prepared to pay the card’s balance transfer fee:
3% intro for 120 days from account opening, then up to 5% (min $5). Such a fee is fairly standard, but the offer would be better without it.
3% foreign transaction fee
The Wells Fargo Active Cash Card’s
3% foreign fee applies to purchases processed internationally, whether you’re traveling abroad or shopping online through foreign merchants. These fees can really add up, so it’s best to use a
credit card with no foreign fee for international transactions.
700+ credit score needed
The
Wells Fargo Active Cash requires
good credit or better for approval. To get a sense of your approval odds, you can
check your latest credit score for free right here on WalletHub.
Note: This review is not provided, commissioned or endorsed by any issuer. Opinions and ratings are our own.
