The bottom line: 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.
Quick FactsView rates and fees
Pros & Cons
- High rewards rate
- No annual fee
- Intro APR period
- No bonus categories
Alternate Pick: 2% Cash Back
Compare to Other Cards
14.99% - 24.99% Variable APR
13.99% - 23.99% Variable APR
11.99% - 22.99% Variable APR
0% intro APR for 15 months from account opening on purchases and qualifying balance transfers
0% intro APR on Balance Transfers for 18 months
0% intro APR for 14 months on purchases and balance transfers
Recommended Credit Score
Recommended Credit Score
Recommended Credit Score
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Not many cash-back credit cards , so when a new card joins the club, it’s a cause for celebration. The -annual-fee , available to applicants beginning in July 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 products in its class. It makes the 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 , the pairs well with a variety of others.
Card type: .
Annual fee: .
Sign-up bonus: .
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: .
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%.
Quite a few flat-rate cards , 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 differentiates itself in a big way with its sign-up bonus: . Depending on your spending, a if it earns a sign-up bonus — and most other cards earning 2% back forgo the bonus entirely. In this regard, the pulls ahead of the pack.
Annual fees may be the cost of entry for more premium rewards cards, but they do eat into these cards’ yearly value. The annual fee makes this an easy card to hold onto for a long time.
There are four ways you can redeem your cash-back rewards:
The gives you a long 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 .
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 here.
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 to earn 2% back for those “everything else” purchases, like medical bills and car repairs. The has a annual fee and earns 3% cash back on dining, entertainment, eligible streaming services and at grocery stores. It also offers a sign-up bonus:
The 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 -annual-fee grants a longer time frame: . Incidentally, the also earns 2% cash back on all purchases (1% as you buy, 1% as you pay), though it lacks a sign-up bonus.
The 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 can earn valuable points and miles to apply toward a discounted trip in the future. The has a annual fee, but it earns 2 miles per $1 on all purchases and offers a sign-up bonus. Redeem miles toward a variety of travel expenses.
The 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.
on Wells Fargo's website
Frequently asked questions
You can apply online, through the Wells Fargo app, through major credit card sites, through the mail or at a Wells Fargo branch.
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.
Yes. Wells Fargo offers cash-back cards like the Wells Fargo Active Cash Card, in addition to other cards, including travel rewards cards.
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.
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.