Wells Fargo Active Cash Credit Card Review

The Wells Fargo Active Cash^SM Credit Card is a flat-rate cash-back credit card that earns unlimited 2% cash rewards on all eligible purchases. Its other notable benefits include an attractive sign-up bonus for new account holders, no annual fee, and a 15-month 0% APR introductory promotion on both purchases and balance transfers.

If you prefer not to deal with arbitrary caps on rewards-earning potential or spending categories that may or may not change by the month, quarter, or year, you’re a good fit for the Wells Fargo Active Cash card and its no-nonsense rewards program. The closest comparison is the Citi Double Cash Card, which earns unlimited 2% cash back when you pay your balance in full — 1% when you make a purchase and 1% when you make a payment.

Key Features

Here’s what to expect from the Wells Fargo Active Cash card.

Sign-Up Bonus

Earn a $200 bonus after you spend $1,000 in eligible purchases during the first three months your account is open.

Earning Cash-Back Rewards

Earn unlimited 2% cash rewards on eligible purchases, with no caps or restrictions on how much you can earn. There are no spending tiers or bonus categories to worry about here.

Redeeming Cash-Back Rewards

You can redeem earned rewards for:

• A statement credit against a prior purchase, provided the purchase is at least $1 and your rewards balance is sufficient to offset the full amount of the purchase.
• A credit or direct deposit to a qualifying Wells Fargo credit card, checking account, or mortgage.
• Cash at an ATM when you use your Wells Fargo ATM or debit card.
• Gift cards from participating retailers.

The minimum redemption threshold and increment for account credits is $25. The minimum ATM redemption amount and increment is $20. Guidelines for other redemption options may vary.

Cellphone Protection (Cellphone Insurance)

Enjoy complimentary cellphone protection against damage or theft. Claim up to $600 per covered event, less a $25 deductible. You must pay your monthly cellphone bill with your Wells Fargo Active Cash card to qualify.

Contactless Payment

Use your Wells Fargo Active Cash card to make purchases at contactless card readers — wherever you see the contactless payment symbol.

Visa Signature Benefits

Wells Fargo Active Cash is a premium Visa card with some notable Visa Signature benefits:

• 24/7 concierge service for travel, dining, and entertainment needs
• Special benefits at participating properties in the Luxury Hotels Collection (see Visa Signature Hotels for more information)

Introductory APR Promotion

Enjoy 0% APR on purchases and balance transfers for 15 months from your account opening date. To qualify, balance transfers must be made within the first 120 days.

Following the end of the promotional period, variable regular APR applies, currently 14.99% to 24.99%. Your rate depends on your personal creditworthiness and other factors.

Important Fees

This card has no annual fee. The foreign transaction fee is 3% of the transaction value denominated in non-U.S. currency.

Credit Required

This card requires good to excellent credit. If your credit score isn’t where you’d like it to be, consider putting off your application and working to raise your score instead.

Advantages

The Wells Fargo Active Cash Card has a lot going for it. These are the top highlights.

1. No Annual Fee

You’ll never pay an annual fee to keep your Wells Fargo Active Cash card around. That’s a nice perk if you don’t plan to spend fast enough to offset a recurring charge — or just don’t like annual fees.

2. Unlimited 2% Cash Rewards on All Eligible Purchases

Wells Fargo Active Cash earns a flat, unlimited 2% cash rewards rate on all eligible purchases. That’s comfortably above competing flat-rate cards that pay 1.5% cash back, like the Capital One Quicksilver Cash Rewards Credit Card.

3. No Rotating Categories or Spending Tiers

As a flat-rate cash-back card, Active Cash keeps your rewards simple. You won’t have to worry about rotating purchase categories or confusing spending tiers here.

4. Long 0% APR Introductory Promotion on Purchases and Balance Transfers

The Wells Fargo Active Cash card has an unusually long 0% APR introductory promotion. For 15 months after opening your account, you won’t pay interest on purchases or balance transfers (although you’ll need to make qualifying balance transfers within 120 days of account opening). 

Although this isn’t quite the longest 0% APR promotion in the cash-back category, it’s close, and certainly long enough to pay down significant purchases or transfers.

5. Above-Average Sign-Up Bonus

Active Cash’s sign-up bonus promises $200 bonus cash rewards after you spend $1,000 during the first three months your account is open. That’s a nice, easily attainable addition to your rewards balance right out of the gate.

Disadvantages

Consider these drawbacks before applying for the Wells Fargo Active Cash card. 

1. Rewards Rate Capped at 2%

Try as you might, you won’t earn more than 2% cash back with the Wells Fargo Active Cash card. That’s not a terrible rate of return, mind you, but it’s lower than category-specific returns offered by many competitors. 

If you want to rack up rewards on specific categories like grocery or drugstore spending, you might turn to the Blue Cash Preferred Credit Card from American Express, for example.

2. Balance Restrictions on Certain Cash Rewards Redemptions

You’ll need to wait until you’ve accumulated at least $20 in cash rewards to redeem for cash at an ATM, $25 in cash rewards to redeem for a statement or account credit, and the full value of the purchase to redeem against a specific prior purchase. Many competing cash-back cards allow redemptions in any amount.

3. Has a Foreign Transaction Fee

Traveling abroad or making a foreign-denominated purchase with an online vendor based overseas? Be prepared to pay a 3% surcharge if you use your Wells Fargo Active Cash card. You might look instead for a credit card without foreign transaction fees that’s ideal for international commerce.

Final Word

The Wells Fargo Active Cash^SM Credit Card is an ideal everyday spending card for people who don’t like spending tiers or purchase categories and aren’t obsessive about maximizing returns on spending on any particular type of outlay. Its simple, flat, unlimited 2% return on spending leads the flat-rate cash-back credit card pack, at least among national credit card issuers.

Active Cash isn’t just a one-trick pony. Its introductory APR promotion is among the best in the category, and its sign-up bonus is nothing to sneeze at either. Oh, and it’s annual-fee-free. If you’re in the market for a new cash-back credit card, do yourself a favor and give Active Cash a closer look.