Wells Fargo Active Cash® Card Review: 2% Cash Back With a Bonus

High rewards rate

The Wells Fargo Active Cash® Card is one of the few cards on the market that earns a flat 2% back on all purchases. Of course, I knew that when I applied for the card, but seeing those rewards add up in my own account is something different. I was pleasantly surprised at how much cash back I earned with some strategic use of the card.

Shortly after I got it I switched over several bills to be paid with the card, using it to cover things that don’t earn bonus rewards with my other cards, such as charitable donations and a new cell phone.

Over two billing cycles, I earned $88.09 in cash back.

That kind of return has guaranteed the Wells Fargo Active Cash® Card a permanent spot in my wallet.

» SEE: Best credit cards that earn 2% cash back on all purchases

No annual fee

Annual fees are often the cost of entry for high-earning rewards cards, but they do eat into these cards’ yearly value. The $0 annual fee makes this an easy card to hold onto for a long time.

» MORE: NerdWallet's best no-annual-fee credit cards

0% intro APR offer

The Wells Fargo Active Cash® Card gives you a break from interest, which is helpful if you use it to make a major purchase you want to pay off over time, or if you’d like to move debt away from a high-interest card. It offers a 0% intro APR for 12 months from account opening on purchases and qualifying balance transfers, and then the ongoing APR of 18.74%, 24.74%, or 28.74% Variable APR.

» MORE: Best 0% APR credit cards

Useful benefits

• Cell phone insurance: Credit cards that offer cell phone insurance are part of a growing trend as we tote around fragile devices worth hundreds of dollars. If you pay your monthly phone bill with the Wells Fargo Active Cash® Card, it will cover up to $600 (up to twice per year) in the event of things like damage or theft. Note that this coverage is secondary to other insurance policies you may already have, including homeowners or renters insurance.

• Rental car insurance. Wells Fargo will cover up to $50,000 for damage or theft of a rental car. This coverage is secondary, however, so the card’s insurance only kicks in after your personal insurance has paid out.

• Visa perks: Cardholders get access to Visa Concierge, a service that assists you with travel or dining arrangements, event tickets and more. You also have access to the Visa Signature Luxury Hotel Collection, where you can book a stay at a selection of hotels and receive benefits like room upgrades, free breakfast, food and beverage credits, and more.

» MORE: Should you pay your cell phone bill with a credit card?

MORE NERDY PERSPECTIVES

Other cards can earn more

The card's 2% rewards rate is excellent, but other no-annual-fee cards can earn even higher rates on specific spending. Typically, those cards have tiered, often complicated rewards structures. But if that doesn’t bother you, I’d recommend getting one of those cards so as not to leave any money on the table.

Better still, you could pair a tiered-rewards card with the flat-rate Wells Fargo Active Cash® Card to maximize your rewards. That’s what I do. I use my Capital One Savor Cash Rewards Credit Card to earn 3% back on dining, streaming and entertainment; my Chase Freedom Unlimited® for 3% on every CVS trip; and my Wells Fargo Active Cash® Card for nearly everything else.

» MORE: See other credit card combinations to help you maximize rewards

Welcome bonus is comparatively small

Welcome bonuses on credit cards often change; still, it was disappointing when the Wells Fargo Active Cash® Card lowered its new cardholder bonus, which used to be worth $200. The current offer: Earn a $100 cash rewards bonus after spending $500 in purchases in the first 3 months.

Fortunately, I was approved for the card when the $200 promotion was running. I’m not sure I would have applied for it otherwise, especially when several other credit cards offer bonuses worth at least $200.

» SEE: Best credit card bonuses for new cardholders

Longer 0% intro APR offers exist

The Wells Fargo Active Cash® Card provides a period of time to pay down new purchases or balance transfers, but if your top priority is lowering your interest payments on a transferred balance for as long as possible, there are more generous options. The $0-annual-fee Citi Double Cash® Card grants a longer time frame: 0% intro APR on balance transfers for 18 months, and then the ongoing APR of 18.49%-28.74% Variable APR. Incidentally, the Citi Double Cash® Card also earns 2% cash back on all purchases (1% as you buy, 1% as you pay), and has a welcome bonus:Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.

» MORE: NerdWallet's best balance transfer credit cards

Foreign transaction fee

The Wells Fargo Active Cash® Card runs on the Visa payment network, so it’s widely accepted around the world. However, the card charges a foreign transaction fee, adding an extra cost every time you use it when traveling abroad. Even if you travel internationally once a year, you’ll save money by packing a card with no foreign transaction fees, another reason to pair the Active Cash with another credit card.

Card management experience

I monitor all of my credit cards on a daily basis, so the experience of managing a card is important to me. Compared to Capital One and Chase’s app interfaces, Wells Fargo is a clear third place.

• Unlike Chase, Wells Fargo doesn’t have a sophisticated rewards tracker. For example, you can see how many rewards you've earned with your Wells Fargo card, but you can't see how many are pending.

• Unlike Capital One, Wells Fargo rewards don't post instantly once a purchase clears. You'll have to wait until the current billing cycle closes.

• Unlike Chase and Capital One, some purchases made with my Active Cash didn’t immediately appear in my transaction register.