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Looking for a credit card that offers consistent and easy-to-understand rewards? The Wells Fargo Active Cash card is one of the top alternatives available today. Especially for those looking for a simple cashback model.
Now, what makes the Wells Fargo Active Cash card such a smart choice? Its main advantage is the promise of cashback, without having to activate rotating categories.
In this article, we will help you get to know the Wells Fargo Active Cash card. Exploring its main features, such as the welcome bonus and the absence of an annual fee, to be able to decide if it is the ideal tool for your day to day.
Get 2% cashback every time
The focus of Active Cash is its unlimited 2% cash reward on all purchases.
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That’s a guaranteed return, no matter if you’re at the grocery store or buying a coffee. This eliminates the headache of having to remember bonus categories or activating quarterly offers. Making financial life much simpler.
In addition, the fact that there is no annual fee also ensures that you retain 100% of what you earn.
The welcome bonus offer is another highlight of the card.
New customers can get a $200.00 cash bonus after spending $500 on purchases in the first three months.
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In fact, the spending requirement is much lower than that of many competitors, who sometimes ask you to spend twice as much or even more.
Other Benefits You’ll Get on the Wells Fargo Active Cash Card
The card also has some financial benefits that go beyond the rewards, and that can be a handy.
For example, it includes an introductory offer of 0% APR for 12 months on eligible purchases and balance transfers.
This is a huge advantage if you plan to make a large purchase and want time to pay without accumulating interest. In fact, it is one of the best credit cards with 0% APR.
You’ll also have cell phone protection, which covers damage or theft up to $600.00, with a $25.00 deductible. To qualify for this protection, you must pay your monthly mobile phone bill in full with the card.
The card will also get you travel assistance, a rental car collision damage waiver, and even 24/7 roadside assistance.
Fees charged at Wells Fargo Active Cash card
Although the card has no annual fee, it is important to know the other fees that may appear.
The following table gives you a clear overview of the main costs.
| Fee/Tariff | Value |
| Annual Fee | US$ 0.00 |
| APR for Purchases and Balance Transfers | 19.24% to 29.24% |
| APR for Cash Advances | 29.99% |
| Balance Transfer Fee | 3% of the amount (minimum of $5) in the first 120 days. After that, up to 5% (minimum of $5) |
| Cash Advance Fee | $10 or 5% of the amount, whichever is greater |
| Foreign Transaction Fee | 3% of each transaction converted to US dollars |
| Late Payment Fee | Up to US$ 40.00 |
The 3% foreign transaction fee is a disadvantage. For any purchase made abroad that is not in US dollars, the transaction amount will have a 3% surcharge, which easily negates the 2% rewards you would earn.
Another point is the variable nature of the APR, which is linked to the US Principal Interest Rate. So if the Federal Reserve raises interest rates, your APR will automatically rise as well, without you doing anything wrong.
Who Can Have the Wells Fargo Active Cash Card?
To get the Wells Fargo Active Cash card, you need to have a Good to Excellent credit score, which is in the range of 670 to 850, as per FICO scores.
In addition to your credit score, Wells Fargo reviews your credit history, employment, and income to decide whether to approve your application.
The process to order is mostly done online. Just click a button, fill out a form with your personal and financial information, and the bank evaluates your profile to decide.
Now, if you’re already a Wells Fargo customer and have a Visa card, there’s a way to get Active Cash without having to go through this whole process.
You can simply exchange your current card for Active Cash, without a new formal application or a credit check.
This is a huge advantage, as it avoids the impact that a new check can have on your score.
The problem, however, is that if you make this switch, you won’t be eligible for the welcome bonus or introductory interest rates.
Wells Fargo Active Cash ou Chase Freedom Unlimited?
To better understand the value of Active Cash, let’s compare it to one of its main competitors: Chase Freedom Unlimited. Both are cards with no annual fee with cash rewards, but with very different philosophies.
| Feature | Wells Fargo Active Cash | Chase Freedom Unlimited |
| Reward | 2% unlimited cash back on all purchases. | 1.5% cash back on general purchases. |
| Welcome Bonus | US$ 200.00 cash after spending US$500.00 in the first 3 months. | US$ 200.00 cash after spending US$500.00 in the first 3 months. |
| Introductory APR | 0% for 12 months on purchases and balance transfers. | 0% for 15 months on purchases and balance transfers. |
| Annual Fee | US$ 0.00 | US$ 0.00 |
| Other Benefits | Cell phone protection up to US$ 600.00 | Purchase protection and extended warranty. |
The main difference is the reward.
Active Cash is the choice for those who value simplicity and consistency. It’s an effortless card that maximizes value for most spending.
Chase Freedom Unlimited, on the other hand, is for the bounty strategist. If you’re willing to actively manage your cards to earn 3% on restaurants and pharmacies, or 5% on travel, Chase can offer a higher total return. Are you interested in this card? Watch the Chase Freedom Unlimited review now.
Conclusion
The Wells Fargo Active Cash card is undoubtedly a very interesting card that delivers on its money back promise by being a good starter card.
For the consumer looking for a single card for all their spending, without the hassle of managing categories, this card is one of the best options on the market.
Its reputation is well-deserved in the product realm, with a high score from experts57.
However, it is crucial to be aware of the drawbacks, such as the 3% foreign transaction fee that makes it unsuitable for international use.
Additionally, potential customers should consider Wells Fargo’s corporate history, which, while not directly affecting the card’s performance, can influence perception of the company.