Wells Fargo Active Cash Card Review USA
This article explains all you need to know about Wells Fargo Active Cash Card.
Earning 1% on a cash back credit card is no longer acceptable. In this extremely competitive economy, earning less than 2% is soon becoming obsolete. That became clearer when Wells Fargo announced in June its new Active CashSM Card, which will be available in July and gives 2% cash back on all purchases. Cash back on all purchases with no limits and no yearly charge.
* Welcome Bonus: Earn $200 when you spend $1,000 in the first three months of your account.
0% initial APR on new purchases and balance transfers for 15 months with a 3 percent balance transfer charge (or $5, whichever is greater).
How Wells Fargo Active Cash Card works
The new Wells Fargo Active Cash Card, launching in July, is ideal for those who prefer basic cash back rewards. You get 2% cashback on all transactions, no limitations. Redeem your cash rewards as a statement credit, direct deposit into your Wells Fargo checking or savings account or as a paper check. You may even cash out in $20 increments at Wells Fargo ATMs.
Spend $1,000 within three months to earn $200 in cash rewards. New accounts get 15 months 0% APR financing on purchases and balance transfers. Promo financing requires balance transfers to be made within 120 days after account establishment. Balance transfers cost 3% or $5, whichever is larger. A phone protection plan is included when you pay your phone bill with the card.
This card has no annual fee, however it levies a 3% foreign transaction fee on any charges made outside the US.
Wells Fargo Active Cash Card Advantages
It’s nice to earn 2% cash back on all purchases, plus some hefty bonuses for new customers. This card, for example, offers a sign-up bonus and promo financing. The phone protection plan is very good.
Wells Fargo Active Cash Card Drawbacks
This card is quite complete. Having bonus categories isn’t expected from a card that pays 2% cash back on all transactions. The 3% foreign transaction tax may become a major issue as international travel increases. Due to this unjustified cost, you will pay more than you earn when traveling outside the US.
Wells Fargo Active Cash Card Alternatives
CITIZEN DUPLEX In all, the Citi Double Cash card offers up to 2% cash back on all purchases, with no upper limit. This card has no new account incentive, but it does provide 18 months of 0% APR financing on balance transfers, with a 3 percent or $5 balance transfer charge. This card has no yearly cost.
PayPal Cashback Visa® This card offers unlimited 2% cash back on all transactions. Receive your rewards using PayPal. No welcome bonus, no promotional financing, no annual charge.
Chase Freedom®. On top of that, you get 5% back on trips booked through Chase Ultimate Rewards®. Spend $500 on new goods within three months to earn $200 cash back. This card has no yearly cost.
Wells Fargo Active Cash Card: Conclusion
The credit card business is heating up again, and Wells Fargo’s Active Cash Card is a significant indicator of that. When compared to other cash back cards, this one may be worth keeping in your wallet.
Thanks for taking the time to read this blog post on Wells Fargo Active Cash Card.