Credit card rewards can be highly valuable — and sometimes, highly complicated. If you're looking for a card that provides a solid rewards rate without requiring a complex strategy, the Wells Fargo Active Cash® Card can be an excellent option. Simple and versatile, it has plenty to offer, whether it's the only card in your wallet or one of a few.
CNBC Select breaks down the rewards and benefits of Wells Fargo Active Cash and explains when this card can be a good choice — and what other cards you can consider.
Should you get the Wells Fargo Active Cash?
Is the Wells Fargo Active Cash worth it?
The Wells Fargo Active Cash® Card is great if you want simplicity thanks to its flat-rate 2% unlimited cash rewards on purchases and $0 annual fee.
- High flat-rate return on purchases
- Intro-APR for purchases and qualifying balance transfers for a year
- No annual fee
- Cell phone protection
- Has a foreign transaction fee
- Limited redemption options unless you pair it with a Wells Fargo card that allows point transfers
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- Apply Now to take advantage of this 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. 18.49%, 24.49%, or 28.49% 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.
Balance Transfer Fee
3% intro for 120 days from account opening, then up to 5%, min: $5
Foreign Transaction Fee
3%
The Wells Fargo Active Cash is a flat-rate cash-rewards credit card with a $0 annual fee. It offers unlimited 2% cash rewards on purchases — a simple rewards system that allows you to earn bonus cash rewards on most of your credit card spending.
The card's welcome bonus also comes with spending requirements that should be easy to meet. Currently, you can get $200 in cash rewards when you spend $500 on purchases in your first three months with the card.
Additionally, the Wells Fargo Active Cash offers 0% intro APR for 12 months from account opening on purchases and qualifying balance transfers. 18.49%, 24.49%, or 28.49% 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.
As you can see, the Wells Fargo Active Cash requires little effort on your part while providing consistent value. For that reason, it can be worth considering in the following situations:
- You want a simple rewards credit card. Some cardholders are great at keeping track of rotating cash-back categories and decoding the best travel card's redemptions. But it's not for everyone — and there's nothing wrong with that. If you want a simple but rewarding cash-back system, the Wells Fargo Active Cash can give you just that.
- You want to earn bonus rewards on all your spending. On the other hand, this card can play a crucial role in a more complicated credit card strategy. If you already have credit cards that earn high rates in certain categories, for example, the Wells Fargo Active Cash can help ensure that you earn more than 1 cent per dollar on spending outside those categories.
- You don't want to pay an annual fee. Many of the best rewards credit cards charge annual fees. If you'd rather avoid those, the Wells Fargo Active Cash can be a good choice.
- You want a 0% APR card that offers ongoing value. You can find cards with longer intro 0% APR periods, but they're less likely to earn rewards.
Of course, no card is perfect for every scenario. For example, if you want to focus on travel rewards, you might spread your spending too thin if you add a cash-back card into the mix. The Wells Fargo Active Cash also might not be worth it if you're looking for a card with premium benefits. You're more likely to find those on annual-fee cards.
The Wells Fargo Active Cash benefits
While this card is light on benefits, it still provides a few helpful perks. Namely, you'll get:
- Cell phone protection: The card makes you eligible for up to $600 of cell phone protection against damage or theft. A $25 deductible applies.
- Credit Close-Up℠: You can get monthly FICO score updates along with personalized credit insights to help you keep your credit healthy.
- 24/7 Visa Signature Concierge: This complimentary personal assistance service provides information and referrals on dining, travel, entertainment and more.
- Luxury Hotel Collection: Another Visa Signature benefit, Luxury Hotel Collection allows you to book hotel stays and receive premium perks.
Alternatives to the Wells Fargo Active Cash
The Wells Fargo Active Cash has a lot going on for it, but it's always wise to consider your options.
For example, the Chase Freedom Unlimited® (see rates and fees) welcome offer: earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening. And if you have or are interested in other cards in the Ultimate Rewards® ecosystem, you can combine the rewards you earn, easily maximizing the value of your cards.
The Chase Freedom Unlimited® is a no-annual-fee card that earns generous cash-back on everyday purchases and a lucrative welcome bonus.
- Users get a high rewards rate and strong welcome bonus
- Purchases and balance transfers get long intro APR
- No annual fee
- Travelers face a foreign transaction fee
- Few rewarding ongoing benefits
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening
- Enjoy 5% cash back on travel purchased through Chase TravelSM, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 1.5% on all other purchases.
- No minimum to redeem for cash back. You can use points to redeem for cash through an account statement credit or an electronic deposit into an eligible Chase account located in the United States!
- Enjoy 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 18.24% - 27.74%.
- No annual fee – You won't have to pay an annual fee for all the great features that come with your Freedom Unlimited® card
- Keep tabs on your credit health, Chase Credit Journey helps you monitor your credit with free access to your latest score, alerts, and more.
- Member FDIC
Balance transfer fee
Intro fee of either $5 or 3% of the amount of each transfer, whichever is greater, in the first 60 days. After that, either $5 or 5% of the amount of each transfer, whichever is greater.
Foreign transaction fee
3% of each transaction in U.S. dollars
If you want a card with double rewards but are more interested in travel cards, look into the Capital One Venture Rewards Credit Card. It earns 5X miles on hotel and rental cars booked through Capital One Travel and unlimited 2X miles on other purchases. It also makes you eligible for a Global Entry or TSA PreCheck application fee credit up to $120 every four years. The Capital One Venture does charge a $95 annual fee, which is on the lower end for travel credit cards.
The Capital One Venture Rewards Credit Card has a reasonable annual fee and earns flexible travel rewards, which makes it a great travel card for beginners or heavy travelers.
- Valuable welcome offer worth at least $750 in travel
- You can transfer miles to over 15 Capital One partners, including Emirates Skywards, Choice Privileges and Singapore Airlines KrisFlyer
- No foreign transaction fees
- Lacks ongoing travel benefits such as statement credits or lounge access
- Limited bonus spending category that only applies to certain Capital One Travel bookings
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- Earn a one-time bonus of 75,000 miles once you spend $4,000 on purchases within 3 months from account opening, equal to $750 in travel
- Earn unlimited 2X miles on every purchase, every day
- Earn 5X miles on hotels, vacation rentals and rental cars booked through Capital One Travel
- Miles won't expire for the life of the account and there's no limit to how many you can earn
- Receive up to a $120 credit for Global Entry or TSA PreCheck®
- Use your miles to get reimbursed for any travel purchase—or redeem by booking a trip through Capital One Travel
- Enjoy a $50 experience credit and other premium benefits with every hotel and vacation rental booked from the Lifestyle Collection
- Transfer your miles to your choice of 15+ travel loyalty programs
- Top rated mobile app
Balance transfer fee
$0 at the Transfer APR, 4% of the amount of each transferred balance that posts to your account at a promotional APR that Capital One may offer to you
Foreign transaction fee
None
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Bottom line
The Wells Fargo Active Cash can be an excellent choice if you want to make sure you warn bonus rewards on all of your purchases — whether it will be your only card or not. Still, consider other options as well. While the Wells Fargo Active Cash is hard to beat when it comes to simplicity, you may find it lacking if you want travel rewards or extra benefits.
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