The Bottom Line: If you can accept a couple of restrictions on how you redeem your rewards — or you want to able to redeem at an ATM — this is a good option for use as an everyday card.
- Earn a $200 cash rewards bonus after spending $1,000 in the first 3 months
- Earn unlimited 1.5% cash rewards on purchases
- Enjoy 1.8% cash rewards on qualified mobile wallet purchases, like Apple Pay® or Google Pay™, during the first 12 months from account opening
Pros & Cons
High rewards rate
Intro APR period on Purchases and qualifying Balance Transfers
Offers cell phone protection when bill is paid with card
$25 minimum redemption
Requires good/excellent credit
Alternate Pick: Higher rewards rate
Citi® Double Cash Card – 18 month BT offer
2% cash back on everything
This card gives you 1% cash back when you make a purchase and another 1% when you pay it off. The combined 2% rate is among the highest of any cash-back card. However, this offer does not include a sign-up bonus or a 0% APR period for purchases.Read our review
The Wells Fargo Cash Wise Visa® Card is one of a slew of cards offering 1.5% cash back on all purchases. It distinguishes itself with a decent 0% introductory APR period, a rewards boost for using digital wallets and an excellent sign-up bonus for a card with an annual fee of $0. If you're looking to make a big purchase that you want extra time paying off, and to earn rewards along the way, this card would be a good choice.
Wells Fargo Cash Wise Visa® Card: At a glance
Card type: Cash back.
Annual fee: $0.
Rewards: 1.5% cash back on all purchases.
Sign-up bonus: Earn a $200 cash rewards bonus after spending $1,000 in the first 3 months.
APR: 0% APR for 12 months on purchases and qualifying balance transfers, and then the ongoing APR of 16.24% - 28.24% Variable APR.
Foreign transaction fee: ....
Balance transfer fee: 3% for 120 days, then 5%.
Wells Fargo Cash Wise Visa® Card: Benefits
Flat 1.5% rewards. Other cards on the market offer this same rate, but the Wells Fargo Cash Wise Visa® Card provides a little extra incentive by bumping the rate up to 1.8% for mobile wallet purchases in the 12 months after account opening.
An easy-to-attain sign-up bonus. The bonus is higher than that on many competing 1.5% cards. The amount of spending required to claim it is a little higher, too, but most people should be able to hit it without breaking a sweat just by using the card for daily expenses.
A good 0% intro period. The Wells Fargo Cash Wise Visa® Card gives you an introductory APR of 0% APR for 12 months on purchases and qualifying balance transfers, and then the ongoing APR of 16.24% - 28.24% Variable APR. A year to pay off purchases or debt without any interest is always a plus.
Up to $600 worth of cell phone insurance. Smartphones aren't cheap. It's nice to know that if 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. Here's how it works.
You can choose your due date. If money is tight, being able to pick exactly when your payment is due can help you avoid overdrafts.
Rewards withdrawals at ATMs. This is one of the few cards that let you redeem rewards at an ATM.
Wells Fargo Cash Wise Visa® Card: Drawbacks
Other cards offer higher rates. Although a rewards rate of 1.5% isn't bad, there are other cards that offer higher rewards.
Fixed redemption amounts. You can redeem your rewards in one of two ways: in increments of $20 as a Wells Fargo ATM withdrawal, or in increments of $25 via phone or online, deposited into a qualifying Wells Fargo account or mailed as a paper check. Minimum redemption amounts essentially hold your rewards hostage until you spend more money. And the two different minimum redemption amounts are likely to be confusing. Other cards let you redeem in any amount at any time.
A balance transfer fee. The transfer fee on this card makes its 0% intro APR period much more attractive for purchases than for transfers. For every $1,000 you transfer during the 0% period, the fee amounts to an additional $30 you'll have to pay off.
Wells Fargo Cash Wise Visa® Card: Alternatives
For higher rewards rates
The Citi® Double Cash Card – 18 month BT offer pays you 1% cash back when you buy something and another 1% when you pay it off. The combined 2% is one of the highest flat cash-back rates available anywhere. The annual fee is $0. Like the Wells Fargo Cash Wise Visa® Card, this card also enforces a minimum redemption amount (in this case, $25).
If you're highly organized, the Chase Freedom® gives you 5% cash back in categories that change quarterly, on up to $1,500 in spending per quarter, and 1% back on all other purchases. It also gives you a longer 0% APR period: 0% on Purchases and Balance Transfers for 15 months, and then the ongoing APR of 17.24% - 25.99% Variable APR. Depending on how you spend, this could be of greater value to you. There is a sign-up bonus: Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening. The annual fee is $0.
For a longer 0% intro period and no redemption minimums
The Chase Freedom Unlimited® and the Capital One® Quicksilver® Cash Rewards Credit Card allow you to redeem your awards in any amount, with no minimum. Both have an annual fee of $0, and both come with 0% intro APR periods:
The Chase Freedom Unlimited® gives you an introductory APR of 0% on Purchases and Balance Transfers for 15 months, and then the ongoing APR of 17.24% - 25.99% Variable APR. Sign-up bonus: Double Cash Back: Earn 3% cash back on all purchases in your first year up to $20,000 spent. After that earn unlimited 1.5% cash back on all purchases.
The Capital One® Quicksilver® Cash Rewards Credit Card gives you an introductory APR of 0% on Purchases and Balance Transfers for 15 months, and then the ongoing APR of 16.24% - 26.24% Variable APR. 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.
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