The Wells Fargo Active Cash Card has a very competitive flat cash back rate on all purchases and a generous introductory APR. But it doesn’t offer any accelerated cash back rates for high-volume purchase categories, like groceries, restaurants, or gas.
Because it has no annual fee, it works best when you pair it with other cash back cards that do have high cash back rates in specific categories, but a lower flat, ‘everything’ cash back rate. That way you can maximize your cash back across all spending categories.
Key facts/overview
- Best for — Pairing with other credit cards
- Annual fee — $0
- Welcome offer — $200 bonus cash back after making $1,000 in purchases during the first three months
- Cash back — 2% on all purchases (unlimited)
- Intro APR — 0% on purchases and balance transfers for first 15 months
- Regular APR — 15.74%-25.74% (variable)
- Other features — $600 coverage against damage or theft of your cell phone if you pay your phone bill with the card
In-depth analysis
High flat cash back rate; no accelerated categories
2% on everything is really nothing to scoff at. Most no annual fee cards top out at 1% for their flat (all purchases) cash back rate.
That said, 2% is not a competitive rate for major, high-volume purchase categories like groceries, where you can do better (see ‘Wells Fargo Active Cash Card compared’ section below). You can learn more about the different types of cash back cards available by reading our article on how to choose a cash back credit card.
Redemption options
The cash back you earn can be redeemed in a number of ways:
- Credit into a Wells Fargo account (credit card, checking account, or mortgage).
- Statement credit toward paying off your card balance.
- Cash withdrawal from a Wells Fargo ATM with a WF debit card.
- Gift cards (minimum $25 in cash back needed).
No annual fee
This is more significant than it seems. Because the card doesn’t have an annual fee, you can throw it into your credit card mix and guarantee that you’ll pick up at least 2% on every purchase, at no extra cost to you (provided you pay off your balance in full).
Read more: Best no annual fee credit cards
Welcome offer
New cardholders can get $200 in bonus cash after making $1,000 in purchases within the first three months of having the card. This should be a fairly easy spending target for most to meet, but it’s not quite as easy as what some competing cards offer.
Read more: Best credit card sign-up bonus intro offers
APR and fees
You get a 15-month introductory APR of 0% on both purchases and balance transfers. After 15 months, both your purchase and balance transfer APR will increase to either 15.74%, 20.74%, or 25.74% (variable) depending on your credit score.
For balance transfers to qualify for the 0% intro rate the transfers must be made within 120 days of opening the account. Those balance transfers will be subject to a fee of $5 or 3% of the transfer amount (whichever is greater). Balance transfers made after 120 days will be subject to a fee of 5%.
Travel fiends should be warned that the card does charge a 3% fee for foreign transactions. Some competing no annual fee cash back cards don’t charge a fee for foreign transactions, which is one of the best hacks for saving money while you travel overseas.
Other notable benefits
Cash back and APR aside, the only notable feature of the Wells Fargo Active Cash Card is its cell phone insurance. Pay your cell bill with the card and you’re covered for cellphone damage or theft up to $600 per claim. This feature serves as a substitute for buying à la carte insurance from your phone’s retailer or your wireless provider, so it can save you a good chunk of change if you plan on buying a new phone soon.
The benefit has a two-claim or $1,200 per month limit, which is more generous than some other cards.
Read more: Is it worth it to get a credit card just for the insurance benefits?
