Wells Fargo Cash Wise Review: 1.5% Back, Plus a Few Perks

This card gives you the industry standard cash-back rate, a decent sign-up bonus, a good 0% intro APR period and some other perks.

Claire TsosieSeptember 15, 2020

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Our Take

4.7

NerdWallet rating 

The bottom line: If you're looking for a simple flat-rate cash-back card and can benefit from cell phone insurance and bonus rewards for digital wallet spending in the first year, this card's a good option. It could also be a good fit if you bank with Wells Fargo and want to keep all your accounts in one place.

Wells Fargo Cash Wise Visa® Credit Card

Wells Fargo Cash Wise Visa® card

Annual Fee

$0

Regular APR

13.99% - 25.99% Variable APR

Intro APR

0% intro APR for 15 months on purchases and qualifying balance transfers

Recommended Credit Score

Quick Facts

Pros & Cons

Pros

  • High rewards rate

  • Sign-up bonus

  • Intro APR period on Purchases and qualifying Balance Transfers

  • Offers cell phone protection when bill is paid with card

Cons

  • $25 minimum redemption

  • Requires good/excellent credit

Compare to Other Cards

Annual Fee

$0

Annual Fee

$95

Annual Fee

$0

Regular APR

13.99% - 23.99% Variable APR

Regular APR

13.99% - 23.99% Variable APR

Rates & Fees

Regular APR

14.99% - 23.74% Variable APR

Intro APR

0% on Balance Transfers for 18 months

Intro APR

0% intro APR on Purchases for 12 months

Intro APR

0% intro APR on Purchases for 15 months

Recommended Credit Score
Recommended Credit Score
Recommended Credit Score

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Full Review

The Wells Fargo Cash Wise Visa® card is a solid $0-annual-fee cash-back credit card, offering 1.5% cash back on purchases, an introductory 0% APR period and a decent sign-up bonus.

Unlike similar 1.5% back cards — of which there are many — it offers cell phone protection and a rewards boost for using digital wallets in the first year. That might make it a slightly more valuable choice if you can benefit from these specific extras. The card could also be a good match if you bank with Wells Fargo and want to keep all your accounts in one place. It's not the most valuable offer around, though; other cash-back cards offer higher ongoing rewards rates.

Wells Fargo Cash Wise Visa® card: At a glance

Card type: Cash back.

Annual fee: $0.

Rewards:

  • 1.5% cash back on purchases.

  • 1.8% cash back for qualified digital wallet purchases, including purchases made on Apple Pay® or Google Pay™, in the 12 months after account opening.

You can redeem your rewards for a range of things, including immediate cash back from a Wells Fargo ATM, which is a unique feature among rewards cards. You can also choose direct deposit or check, charity donations, merchandise, gift cards or travel. Cash redemptions for direct deposits to qualifying Wells Fargo accounts or checks must be done in $25 increments; cash redemptions for ATM withdrawals must be done in $20 increments.

Sign-up bonus: Earn a $150 cash rewards bonus after spending $500 in the first 3 months.

APR: 0% APR for 15 months on purchases and qualifying balance transfers, and then the ongoing APR of 13.99% - 25.99% Variable APR.

Foreign transaction fee: 3%.

Balance transfer fee: 3% for 120 days, then 5%.

Cell phone protection: You get up to $600 of protection (with a $25 deductible) against covered damage or theft when you pay your cell phone bill with your card.

Benefits of the Wells Fargo Cash Wise Visa® card

Flat 1.5% rewards and a boost for digital wallet spending

The flat-rate 1.5% cash-back rewards on the Wells Fargo Cash Wise Visa® card make it an appealing choice for making everyday purchases. You don't need to memorize complicated bonus categories, and your rewards won't be capped.

Unlike similar cards, this one also offers 1.8% cash back on qualifying digital wallet spending — which includes Apple Pay® and Google Pay™, for example — in the 12 months after account opening. At the start, the perk makes it slightly more valuable for cardholders who can pay for most of their purchases this way. Also rare among cards like this one: It allows you to redeem points for cold hard cash at an ATM.

A good 0% intro period

The Wells Fargo Cash Wise Visa® card gives you an introductory APR of 0% APR for 15 months on purchases and qualifying balance transfers, and then the ongoing APR of 13.99% - 25.99% Variable APR. That's a nice introductory 0% APR deal, and it's in line with what other 1.5% cards offer.

A decent sign-up bonus

This card also comes with an easy-to-snag sign-up bonus: Earn a $150 cash rewards bonus after spending $500 in the first 3 months. Among 1.5% cards, this offer is also standard. Still, it provides a nice boost in value during the first few months of use.

Up to $600 worth of cell phone protection

When you pay your monthly cell phone bill with the Wells Fargo Cash Wise Visa® card, you get up to $600 of protection (subject to $25 deductible) against covered damage or theft. That's a relatively uncommon feature on credit cards. If you have a pricey cell phone, it could be reason enough to get this card over a similar cash-back card. Here's how it works.

Drawbacks of the Wells Fargo Cash Wise Visa® card

Other cards offer higher rates

Although a rewards rate of 1.5% isn't bad, other cards offer higher rewards.

Take the Citi® Double Cash Card – 18 month BT offer, for example, which offers an impressive 2% cash back: 1% cash back when you buy something and another 1% when you pay it off. The annual fee is $0. While it lacks a sign-up bonus and an introductory 0% APR offer on purchases, it comes with a deal on balance transfers: 0% on Balance Transfers for 18 months, and then the ongoing APR of 13.99% - 23.99% Variable APR.

Foreign transaction fees

Like most cash-back cards, the Wells Fargo Cash Wise Visa® card comes with foreign transaction fees, which tacks on 3% to every purchase made abroad. If you want a 1.5% cash-back card that doesn't do this, the Capital One® Quicksilver® Cash Rewards Credit Card is a good option. Aside from 1.5% cash back on all purchases and no foreign transaction fees, it has an introductory APR of 0% APR for 15 months on purchases, and then the ongoing APR of 15.49% - 25.49% Variable APR. It also comes with a sign-up bonus: One-time $150 cash bonus after you spend $500 on purchases within 3 months from account opening.

To read more about potential cash-back credit card alternatives, visit our list of top credit card options.

Should you get the Wells Fargo Cash Wise Visa® card?

If you're looking for a simple cash-back card and could benefit from cell phone protection and bonus rewards on digital wallet spending, the Wells Fargo Cash Wise Visa® card is a good option. It doesn't come with the richest ongoing rewards or most flexible redemption options, but it offers solid value.

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