Wells Fargo Active Cash: Is It Worth It?

Credit cards remain the most common online payment method in the US, with some of the world’s most renowned banks competing for your attention and trust. In such a diverse landscape, choosing the right option can be challenging. In today’s article, we'll explore the Wells Fargo Active Cash Credit Card, its key features, benefits, and potential downsides.

Wells Fargo Active Cash: Main Features

The card is best known for its good cash-back reward program, but the bonuses don't stop there. Wells Fargo Active Cash Card annual fee is non-existent, and a 0% intro APR will go a long way to offset your expenses.

• Unlimited 2% cash back. Earn 2% cash back on all purchases without any strings attached. You don’t even need to check bonus offers or deal with rotating categories.
• $0 annual fee. Wells Fargo Active Cash Credit Card doesn’t have an annual fee, meaning you can get its benefits without having to spend any additional funds.
• 0% intro APR. A zero-interest credit card can be beneficial for making large purchases or transferring high-interest debt. After the introductory period ends, a variable APR applies, ranging from 19.74% to 29.74%.
• Sign-up bonus. Receive $200 after spending $500 within 3 month of opening an account.
• Foreign transaction fee. The fee for operations made with foreign currency is 3%.
• Various bonus redemption methods. These include statement credit, withdrawals in $20 increments from Wells Fargo ATMs, direct deposit into a checking or savings account, or a mailed check.

Did you know that according to a 2024 Forbes Advisor survey the top reasons consumers use credit cards are reward programs (35%) and the safety of carrying them over cash (33%)?

Wells Fargo Active Cash Card Benefits

Let’s explore the main advantages of the Wells Fargo Active Cash Card, as these are often the main factor deciding whether the offer really aligns with your financial goals and lifestyle:

• Cell Phone Insurance. This program becomes available if the customers pay their monthly cell phone bill with their Active Cash Card. It covers cases where the phone is lost, stolen, or damaged. Note that cracked screens or cosmetic scratches that don’t affect the device's functionality are not covered.
• Emergency Cash Disbursement and Card Replacement. This service offers you some fast cash if your card is lost, stolen, or damaged, and a replacement ready within 1–3 business days. Available 24/7, it guarantees you'll never lose access to your funds.
• Travel and Emergency Assistance. Travel with confidence, backed by a range of perks designed to have your back in any unexpected situation. From medical and legal referrals to emergency transportation and ticket replacement, these services can be a lifesaver when you're far from home.
• Collision Damage Waiver. This option helps cover damage or theft of a rented car. It reimburses you if the rental was paid for with your card or associated rewards program. However, keep in mind that the maximum coverage amount is $50,000.
• Roadside Dispatch. The pay-per-use roadside assistance program provides helpful services like towing, fuel delivery, or tire replacement when you're on the road.
• Access to Visa Signature Concierge and Luxury Hotel Collection. Visa Signature Concierge allows you to book travel, event tickets, or even dinner reservations. The Visa Signature Luxury Hotel Collection has a full basket of premium perks, such as the best available rate guarantee, automatic room upgrade, complimentary breakfast, and late check-out upon request.
• Zero Liability Protection. This feature ensures cardholders aren’t held liable for unauthorized charges as long as they’re reported promptly.

When to Choose the Wells Fargo Active Cash

A Wells Fargo Active Cash credit card is an excellent choice if you want to:

Make the most of your shopping

Wells Fargo Active Cash is a top choice for those who look for a cash-back card with a good rewards program. Plenty of credit cards claim to offer 2% cash back, but it’s rare to find one that gives the full amount with no strings attached. For example, the Fidelity Rewards Visa Signature only gives 2% if you redeem it into an account, and the Citi Double Cash provides only 1% on purchases. The Wells Fargo Active Cash Card, on the other hand, keeps it simple with a 2% cash back on everything.

Finance big purchases

The Wells Fargo Active Cash is a good choice if you plan to make a large purchase. It offers a 0% intro APR on purchases for the first year, which can go a long way to make repayment more bearable.

Get out of debt

If your goal is to pay off your balance, the long interest-free period will help you do so faster. The Wells Fargo Active Cash Card can help you manage and reduce debt with its 0% intro APR on balance transfers for the first 12 months. Transferring high-interest debt from other credit cards lets you pay it down during the first year without the burden of high-interest fees. However, before applying for the offer, it’s crucial to have a plan in place to pay the balance off within the intro period. Otherwise, you’ll still incur interest charges at the standard APR.

Have a smooth traveling experience

Such perks as collision damage waiver, travel assistance, and access to Visa Signature Luxury Hotel Collection allow cardholders to travel with comfort and safety. You can book hotels, rent cars, and get the best available rates without any effort on your part.

Ensure financial security in unexpected situations

Zero Liability Protection and Emergency Cash Disbursement services are an excellent defense against fraudsters and emergencies.

When the Wells Fargo Active Cash Might Not Be the Best Choice

Any good Wells Fargo Active Cash Card review woudn’t be complete without mentioning the offer’s downsides. Thus, it may not be the best choice when:

• You have already opened a Wells Fargo credit card in the past six months. According to the issuer’s terms, you may not qualify for the Wells Fargo new cash card in this case. Consider waiting a bit to increase your chances of approval.
• Redemption flexibility is a priority. If redemption flexibility is essential to you, consider cards that offer a variety of methods, such as checks, statement credits, or deposits into a checking account.
• You tend to carry a balance. If you regularly carry a balance on your credit cards, a rewards card may not be the right choice for you. The high ongoing interest rates can quickly outweigh any bonuses earned. If that’s the case, consider a low-interest credit card to save more money over time.
• Premium benefits are preferable. The Wells Fargo Active Cash may not be the best fit if you seek premium benefits. You're more likely to find those on annual fee cards that offer purchase protections, travel protections, statement credits, lounge access, and more.