Wells Fargo Active Cash Card review: A solid cash-back earner
| 2% | Earn unlimited 2% cash rewards on purchases |
Editor's Note
Wells Fargo Active Cash Card overview
The no-annual-fee Wells Fargo Active Cash® Card (see rates and fees) offers a solid 2% cash rewards on purchases and an appealing welcome offer. And with no annual fee and a handful of other perks, it could be a good option for those who want a rewarding yet simple card in their wallets. Card Rating*: ⭐⭐⭐½
*Card rating is based on the opinion of TPG's editors and is not influenced by the card issuer.
Credit card rewards can often be complicated with limited-time offers, transfer partners and high annual fees. The Wells Fargo Active Cash card takes a simple approach by offering unlimited 2% cash rewards on purchases. It doesn't carry an annual fee or have any bonus categories to remember.
It's also a Visa Signature® card, which adds many perks and benefits often seen on more premium cards. For the best chance at approval, you'll want a credit score of 670 or higher.
Here's everything you need to know about the Wells Fargo Active Cash card.
Related: Why you may want a cash-back card
Wells Fargo Active Cash pros and cons
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Wells Fargo Active Cash welcome offer
The Wells Fargo Active Cash card currently offers a $200 cash rewards bonus after spending $500 in purchases in the first three months of account opening.
This doesn't hold a candle to the value you'll get with one of the top travel rewards cards on the market, but it's pretty standard for a cash-back card with no annual fee.
Related: Cash back vs. travel rewards: How to choose a credit card
Wells Fargo Active Cash benefits
Some of the more notable perks on the Wells Fargo Active Cash include cellular telephone protection and zero liability protection. When you pay your monthly phone bill with the Active Cash card, Wells Fargo will cover up to $600 per claim, subject to a $25 deductible (up to twice per year) for damage or theft.
Meanwhile, with zero liability protection, if an unauthorized purchase is made on your credit card, the activity will be promptly reported, and you will not be held responsible. Other notable benefits include an auto rental collision damage waiver and access to My Wells Fargo Deals.
The Wells Fargo Active Cash is also a Visa Signature card with benefits such as 24/7 concierge service and access to Visa's Luxury Hotel Collection.
These are some solid benefits for a card with no annual fee.
Related: Link a credit card with cellular telephone protection to your mobile bill
Earning rewards on the Wells Fargo Active Cash
The Wells Fargo Active Cash card is a great way to earn a standard rate of return on purchases. With it, you'll earn unlimited 2% in the form of cash rewards on purchases. Cash rewards will not expire as long as the account remains open.
There are no bonus categories, so qualifying purchases will earn the same cash-back rewards. However, cardholders do not earn cash rewards on balance transfers, cash equivalents (like gift cards and money orders), lottery tickets or casino chips.
Related: Comparing flat-rate with bonus-category cash-back credit cards
Redeeming rewards on the Wells Fargo Active Cash
The cash rewards you earn with the Wells Fargo Active Cash card can be redeemed as statement credits to cover purchases starting at $1.
However, you must have enough rewards in your account to cover the entire transaction. In other words, the $200 in rewards you earn as part of the welcome offer can't be used for a statement credit on a $300 purchase.
Cash rewards can also be redeemed for a deposit to your Wells Fargo checking account or as a payment toward the principal on a Wells Fargo mortgage.
Other redemption options include cash from a Wells Fargo ATM in $20 increments (only available with a Wells Fargo debit card or at a Wells Fargo ATM) and gift cards in many different increments.
While this card doesn't offer as many redemption options as some of our favorite travel rewards cards, its simplicity has its own appeal. TPG credit card editor Emily Thompson loves the versatility of cash-rewards to cover anything from travel expenses to unexpected home repairs.
Related: Are cash-back credit cards worth it?
Which cards compete with the Wells Fargo Active Cash?
The cash rewards credit card world is filled with no-annual-fee cards, but only a few can compare to the Wells Fargo Active Cash.
- If you prefer Citi: The Citi Double Cash® Card (see rates and fees) is considered one of the best cash reward cards on the market. It offers 2% unlimited cash rewards on all purchases (1% when you buy and 1% as you pay). To learn more, see our full review of the Citi Double Cash.
- If you prefer rotating categories: The Chase Freedom Flex® earns 5% cash back on the first $1,500 spent each quarter in select categories. This becomes even more valuable if you also have a card that earns transferable Chase Ultimate Rewards points because you can combine your rewards and take advantage of Chase's transfer partners. To learn more, see our full review of the Chase Freedom Flex.
- If you prefer Capital One, The Capital One Savor Cash Rewards Credit Card earns 3% cash back on dining, entertainment, popular streaming services, and at grocery stores (excluding superstores like Walmart® and Target®). Cardholders can even earn 5% back on hotels and car rentals booked through Capital One Travel. This is a great card to maximize cash-back earnings in many categories, all for no annual fee (see rates and fees). To learn more, see our full review of the Capital One Savor Cash Rewards.
For additional options, check out our full list of the best cash-back credit cards.
Related: Why the Citi Double Cash will always have a place in my wallet
Is the Wells Fargo Active Cash worth it?
The lack of an annual fee makes the Wells Fargo Active Cash appealing to credit card users, but it's a particularly good option for beginners. However, the card does have a 3% foreign currency conversion fee, so cardholders who regularly travel or spend internationally should reconsider and opt for a card without foreign transaction fees.
Bottom line
The Wells Fargo Active Cash card is a great cash rewards card for people looking for a simple rewards structure. Some more experienced credit card users may feel it is missing the ability to maximize earning potential.
However, if you're in the market for a no-frills cash rewards card with no annual fee, the Wells Fargo Active Cash card could be the perfect addition to your wallet.
Apply here: Wells Fargo Active Cash