Wells Fargo Active Cash Review: No Annual Fee, $200 Bonus and 2% Back Everywhere

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Wells Fargo Active Cash Comes with No Annual Fee, $200 Bonus and 2% Back Everywhere

Well Fargo announced the revamp of its credit card lineup recently. The first move was the launch of the new Wells Fargo Active Cash Card. This is a no fee credit card that earns 2% cash rewards on all purchases. In this Wells Fargo Active Cash review you can find out more details about this product, and see if this is a card that you should have in your wallet.

Wells Fargo Active Cash Review

The new Wells Fargo Active Cash Card is a credit card that has no annual fee and earns 2% unlimited cash rewards on all your purchases. There are already several products that offer that flat cash back rate, but this is the first from Wells Fargo. The simplicity of just earning 2% cash back every single time, makes these types of cards quite popular for the general public. While travel credit cards come with the potential of free flights or hotel stays, you need to invest some time and learn how to best maximize those miles and points.

DDG’s Wells Fargo Active Cash Rating: ★★★☆☆

Welcome Offer

With the Wells Fargo Active Cash Card you can earn a $200 welcome bonus when you spend $1,000 or more during the first 3 months or card membership. This bonus is above average as far as no-fee credit cards go, but it is substandard if you look at all the credit card welcome offers that are currently available.

You can also take advantage of 0% intro APR for 15 months from account opening on purchases and qualifying balance transfers, then a variable APR applies. Balance transfers made within 120 days qualify for the intro rate and fee of 3% then a balance transfer fee of up to 5% (or minimum $5).

Earning Structure

The earning structure is quite simple. Cardholders earn 2% cash rewards on all eligible purchases and there are no bonus categories to track. There’s no limit on how many cash rewards you can earn during a month, or year.

Other Card Highlights

  • No Annual Fee
  • $600 in cell phone protection. If you pay your monthly phone bill with the Active Cash Card, you can submit a claim for reimbursement, up to two claims in a 12-month period.
  • Visa Concierge. You can request assistance with restaurant reservations, event tickets, travel booking and more. You can reach the Visa Concierge service 24/7 by calling 1-800-953-7392. This is a benefit for all Visa Signature cards.
  • 3% foreign transaction fee. Avoid using this card outside of the U.S. or for online purchases through international merchants.

Wells Fargo Active Cash Rewards

As mentioned above, you can earn 2% cash rewards on all eligible purchases. The cash rewards you earn with your Wells Fargo Active Cash Card can be redeemed as a statement credit, through a Wells Fargo ATM (using a Wells Fargo debit/ATM card), as a direct deposit into a Wells Fargo savings/checking account or as a paper check. So basically, the card works as a straight cash back card.

Guru’s Wrap-up

The Wells Fargo Active Cash Card is a good option for those who just want one card to earn rewards on all their purchases. You will pay no fees, and earn 2% cash rewards on all your purchases. Additionally, you get the welcome bonus. It is not a great offer, but the low spending requirement makes it easy to earn. You can see more no-annual-fee cards here, if that’s something you’re looking for.

However, if you want to maximize rewards or cashback on every purchase, then you should have a few credit cards in your wallet. You can always earn more than 2% back at the grocery store, at restaurants, drugstores, gas stations etc. It’s a good idea to crunch the numbers and see where and how much you spend on popular categories. Even a credit card with an annual fee could make sense for you, if you spend enough in a year. Everyone’s calculations will be different.

DannyDealGuru has partnered with CardRatings for our coverage of credit card products. DannyDealGuru and CardRatings may receive a commission from card issuers. Responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

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