Wells Fargo New Credit Card Lineup
Wells Fargo announced this week a new consumer credit card portfolio, as it looks to make a push for more credit card customers. In July, Wells Fargo will roll out the first card in its new Visa cards suite, the Active Cash Card. The new card comes with no annual fee and unlimited 2% cash rewards on purchases. Later this year Wells Fargo will launch a low-APR card, Reflect, and a new rewards card line in 2022.
Wells Fargo Active Cash Card
The new Wells Fargo Active Cash credit card comes with a $200 cash rewards bonus when new cardmembers spend $1,000 in purchases within the first 3 months.
As part of the welcome bonus, cardholders also get 0% APR on purchases and qualifying balance transfers for the first 15 months from account opening; after that, a variable APR applies.
Going forward, Wells Fargo Active Cash cardmembers can enjoy:
- $0 annual fee.
- Unlimited 2% cash rewards on purchases.
- Cell phone protection when customers pay their monthly cell phone bill with their Active Cash Card. For more information, visit wellsfargo.com/ctp.
- Advanced security features, including voice verification and 2-step verification at digital banking sign-on.
- Access to Visa Signature Concierge Service and Visa Signature Luxury Hotel Collection.
- For more information, visit wellsfargo.com/activecash.
Customers can choose from a range of flexible cash redemption options: as a credit to their Active Cash account, at Wells Fargo ATMs in $20 increments using a Wells Fargo debit or ATM card, direct deposit into a Wells Fargo savings or checking account, or toward purchases they’ve already made.
Wells Fargo has a big presence in banking in the United States but ranks 8th in the country when it comes to credit cards. The new Active Cash card is a good start to attract more credit card customers. The $200 bonus is a good one for a 2% cash back card, as is the 0% APR for 15 months on purchases and balance transfers. Let’s hope for even better news with the other new Wells Fargo cards down the line.