Wells Fargo Active Cash® Card Review: 2% Cash Back With a Bonus
The Bottom Line
5.0
When it comes to flat-rate cash-back cards, it's hard to beat 2% back, especially when the card is one of the few in this category to come with a bonus for new cardmembers.
Rates, fees and offers
Annual fee
$0
Rewards rate
2%
Bonus offer
Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months.
Intro APR
0% intro APR on Purchases for 12 months from account opening and 0% intro APR on Balance Transfers for 12 months from account opening on qualifying balance transfers
Ongoing APR
APR: 19.49%, 24.49%, or 29.49% Variable APR
Cash Advance APR: Refer to Important Credit Terms
Balance transfer fee
3% for 120 days from account opening, then up to 5%, min: $5
Foreign transaction fee
3%
More details from Wells Fargo
- Select “Apply Now” to take advantage of this specific offer and learn more about product features, terms and conditions.
- Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months.
- Earn unlimited 2% cash rewards on purchases.
- 0% intro APR for 12 months from account opening on purchases and qualifying balance transfers. 19.49%, 24.49%, or 29.49% Variable APR thereafter; balance transfers made within 120 days qualify for the intro rate and fee of 3% then a BT fee of up to 5%, min: $5.
- $0 annual fee.
- No categories to track or remember and cash rewards don’t expire as long as your account remains open.
- Find tickets to top sports and entertainment events, book travel, make dinner reservations and more with your complimentary 24/7 Visa Signature® Concierge.
- Up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible.
Pros and Cons
Pros
High rewards rate
No annual fee
Intro APR period
Cons
No bonus categories
Detailed Review
Not many cash-back credit cards earn 2% back on all purchases, so when a card joins the club, it’s a cause for celebration. The $0-annual-fee Wells Fargo Active Cash® Card, which became available in summer 2021, has much to offer: unlimited 2% cash back on all purchases, a sign-up bonus and a no-interest promotion on new purchases and balance transfers.
Taken together, that's a value proposition that's difficult if not impossible to find on other cards in its class. It makes the Wells Fargo Active Cash® Card an ideal match for those who prefer the ease of using one card whenever they shop.
True, other cards offer higher rewards rates in specific popular spending categories like grocery stores and restaurants. So if you’re a one-card kind of person, you’ll miss out on the chance to earn more.
But if you’re willing to manage multiple cards at once, the Wells Fargo Active Cash® Card pairs well with a variety of others.
Wells Fargo Active Cash® Card: Basics
Card type: Cash back.
Annual fee: $0.
Sign-up bonus: Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months.
Rewards: Unlimited 2% cash rewards on purchases.
Redemption options: Statement credit, withdrawal from Wells Fargo ATMs in $20 increments using a Wells Fargo ATM or debit card, direct deposit into a Wells Fargo checking or savings account, or a mailed paper check.
Interest rate: 0% intro APR on Purchases for 12 months and 0% intro APR on Balance Transfers 12 months from account opening on qualifying balance transfers, and then the ongoing APR of 19.49%, 24.49%, or 29.49% Variable APR.
Balance transfer fee: A balance transfer request must be made within 120 days from account opening to qualify for the introductory APR. A balance-transfer fee applies: either $5 or 3% of each balance transfer, whichever is greater, for 120 days from account opening. After that, a different fee applies; up to 5% for each balance transfer, with a minimum of $5.
Foreign transaction fee: 3%.
Other benefits:
Cell phone protection when customers pay their monthly cell phone bill with their Active Cash Card. (Protection is secondary to your other insurance that might apply, such as homeowners or auto insurance.)
Access to Visa Concierge and Visa Signature Luxury Hotel Collection.
Compare to Other Cards
Benefits and Perks
2% cash back, plus a sign-up bonus
Quite a few flat-rate cards earn 1.5% cash back, so if a card’s going to stand out, it has to stand apart. While the list of cards that earn 2% cash back is growing, the Wells Fargo Active Cash® Card differentiates itself in a big way with its sign-up bonus: Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months. Depending on your spending, a 1.5% card typically tops a 2% card if it earns a sign-up bonus — and most other cards earning 2% back forgo the bonus entirely. In this regard, the Wells Fargo Active Cash® Card pulls ahead of the pack.
No annual fee
Annual fees may be the cost of entry for more premium 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.
Flexible redemption options
There are four ways you can redeem your cash-back rewards:
A statement credit.
A withdrawal from Wells Fargo ATMs in $20 increments using a Wells Fargo ATM or debit card.
A direct deposit into a Wells Fargo checking or savings account.
A mailed paper check.
0% intro APR offer
The Wells Fargo Active Cash® Card gives you a break from interest, which is helpful if you use the card 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. You’ll pay 0% intro APR on Purchases for 12 months and 0% intro APR on Balance Transfers 12 months from account opening on qualifying balance transfers, and then the ongoing APR of 19.49%, 24.49%, or 29.49% Variable APR.
» MORE: Best 0% APR credit cards
Extras make the card feel fancy
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.
Visa perks: As a Visa card, the Wells Fargo Active Cash® Card grants you 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.
Drawbacks and Considerations
Rewards redemptions are somewhat tailored to existing Wells Fargo customers
The simplicity of getting rewards as cash from an ATM or direct depositing them into a bank account is reserved for Wells Fargo customers. If you have a Wells Fargo ATM or debit card, you can withdraw your cash-back rewards in $20 increments from a Wells Fargo ATM. And if you have a Wells Fargo checking or savings account, you can have your rewards deposited there. Overall, these are decent redemption options, but you’ll get the most flexibility if you bank with Wells Fargo. For more flexible options, see our list of best credit cards with rewards here.
Other cash-back cards earn more
If you don’t mind cards with more complicated, tiered rewards programs, you’ll find a selection of cash-back cards that earn higher rewards rates in specific spending categories. Typically, these cards earn 1% cash back on everything else, so you can pair them with the Wells Fargo Active Cash® Card to earn 2% back for those “everything else” purchases, like medical bills and car repairs. The Capital One Savor Cash Rewards Credit Card has a $0 annual fee and earns 3% cash back on dining, entertainment, eligible streaming services and at grocery stores. It also offers a sign-up bonus: Earn a one-time $200 cash bonus once you spend $500 on purchases within the first 3 months from account opening.
Longer 0% intro APR offers exist
The Wells Fargo Active Cash® Card provides a long 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%-28.49% Variable APR. Incidentally, the Citi Double Cash® Card also earns 2% cash back on all purchases (1% as you buy, 1% as you pay), though it doesn't usually offer a sign-up bonus.
Although the Citi Double Cash® Card has not traditionally offered a sign-up bonus, the card currently has this offer in effect: 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.
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. If you travel often, a travel rewards card that charges no foreign transaction fee can earn valuable points and miles to apply toward a discounted trip in the future. The Capital One Venture Rewards Credit Card has a $95 annual fee, but it earns 2 miles per $1 spent on purchases and offers a sign-up bonus. Redeem miles toward a variety of travel expenses.
How To Decide If It's Right For You
The Wells Fargo Active Cash® Card is a top choice among flat-rate credit cards. Its rich yet straightforward rewards rate means it can be ideal as either a single-card solution or as part of a multicard system, and it comes with incentives not usually found on other 2%-back cards. In short, it's hard to beat.
This $0-annual-fee card earns 2% cash back on all purchases (1% as you buy, 1% as you pay). It offers a 0% intro APR on balance transfers for 18 months, and then the ongoing APR of 18.49%-28.49% Variable APR.
Looking For Something Else?
Methodology
NerdWallet reviews credit cards with an eye toward both the quantitative and qualitative features of a card. Quantitative features are those that boil down to dollars and cents, such as fees, interest rates, rewards (including earning rates and redemption values) and the cash value of benefits and perks. Qualitative factors are those that affect how easy or difficult it is for a typical cardholder to get good value from the card. They include such things as the ease of application, simplicity of the rewards structure, the likelihood of using certain features, and whether a card is well-suited to everyday use or is best reserved for specific purchases. Our star ratings serve as a general gauge of how each card compares with others in its class, but star ratings are intended to be just one consideration when a consumer is choosing a credit card. Learn how NerdWallet rates credit cards.
Frequently asked questions
How do I apply for a credit card with Wells Fargo?
You can apply online, through the Wells Fargo app, through major credit card sites, through the mail or at a Wells Fargo branch.
Is Wells Fargo a good credit card?
Wells Fargo issues a number of different credit cards to match different consumer needs. The card that works best for you can depend on what you’re looking for, as well as your personal financial situation.
Does Wells Fargo have a cash-back credit card?
Yes. Wells Fargo offers cash-back cards like the Wells Fargo Active Cash Card, in addition to other cards, including travel rewards cards.
How do cash-back credit cards work?
Cash-back cards earn rewards whenever you make a purchase. You can often redeem those rewards as money back in the form of a statement credit, deposit to a bank account or mailed paper check.
Is it worth getting a cash-back card?
Cash-back cards can be a simple way to save on every purchase you make. Some even offer valuable sign-up bonuses. You may prefer a travel rewards card if you travel often, especially overseas. Or, if you have credit card debt, a balance transfer card can help you save on interest while you pay your balance down.
