Wells Fargo Active Cash℠ Card Review: Earn $200 Bonus and Unlimited 2% Cash Back Wells Fargo Active Cash℠ Card Review: Earn $200 Bonus and Unlimited 2% Cash Back

Wells Fargo Active Cash℠ Card Review: Earn $200 Bonus and Unlimited 2% Cash Back

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Offers for Bank of America cards mentioned in this post have been updated as of 09/28/2023

The Wells Fargo Active Cash® Card is a valuable cash-back card for consumers looking to earn rewards on their purchases without worrying about spending categories. Here's how: Earn unlimited 2% cash rewards on purchases and pay  $0 annual fee. Plus, the Active Cash Card offers several other features that make it a solid choice for any cost-conscious consumer.

Here's everything you need to know about this card.

Wells Fargo Active Cash® Card
Wells Fargo Active Cash® Card
Annual Fee$0
Welcome Bonus Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months
  • Earn unlimited 2% cash rewards on purchases

Active Cash Card Pros

  • $0 annual fee
  • Introductory APR offers for balance transfers and purchases
  • Cell phone insurance, which is uncommon for no-annual-fee cards
  • Redemptions go beyond statement credits to include withdrawing money at ATMs or paying with rewards at PayPal

Active Cash Card Cons

  • Rewards are never worth more than 1¢ apiece
  • Lack of travel and shopping protections

Active Cash Card Welcome Offer

The sign-up bonus for the Active Cash Card is simple yet valuable. When you're approved for the card, you can earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months.

Plus, with the additional 2% cash-back you earn, you will have earned $20 in cash-back along the way — netting you $220 in rewards. This is a solid bonus for a $0-annual-fee cash-back credit card.

Active Cash Card Benefits

You won't find a deluge of benefits on the Active Cash Card, given that it has no annual fee. However, the card provides several benefits that can benefit your personal finances.

Introductory APR on balance transfers and purchases

You can take advantage of a 0% introductory APR for 15 months from account opening on purchases and balance transfers. After the introductory period, you'll pay a 20.24%, 25.24%, or 29.99% variable APR. Note that there are fees on balance transfers. Fees depend on the amount of your balance transfer, and you'll pay 3% for 120 days from account opening, then up to 5%; min: $5 per transfer.

While we don't recommend spending on credit cards if you can't afford to pay the balance in full that month, introductory APR offers can be an exception. These provide a way to finance large purchases without interest.

For example, you could purchase a $1,000 TV on your card after approval. Not only will you earn the $200 cash rewards bonus, but you will also have a total of 15 months from account opening where you could pay it off without any interest charges — as long as you pay the minimum payments on time each month and pay the balance in full before the introductory period ends.

a person repairs electronics inside a smart phone
Paying your phone bill with the right card can provide valuable insurance protection. Credit: Tima Miroshnichenko/Pexels

Cell phone protection

Cell phones are increasingly expensive to purchase and costly to repair. If you happen to damage your phone, or if it's stolen, it can be an expensive loss. The Active Cash Card can cover your cell phone up to $600, however.

To qualify, use the Active Cash Card to pay your monthly cell phone bill. In the event you need to file a claim, you can submit the documentation online. Keep in mind there is a $25 deductible, and this supplementary coverage is limited to two claims in a 12-month period.

Visa Concierge Service

You will have access to the Visa Concierge Service to assist you with needs like restaurant reservations, travel bookings, and entertainment options.

Visa Signature Luxury Hotel Collection

You have access to the Visa Signature Luxury Hotel Collection. You can get elite status-like benefits at these luxury hotels, even without elite status at the respective hotels. Benefits include room upgrades at check-in (based on availability), daily breakfast for two, a $25 food and beverage credit, complimentary Wi-Fi throughout your stay, and late checkout (based on availability).

Active Cash Card Earning Rates

The Active Cash Card has a simple earning rate: Earn unlimited 2% cash rewards on purchases.

This is a great earning rate for those seeking simplicity or who want quality earnings on every purchase without worrying about bonus categories. Those who want to maximize earnings might be disappointed, however. You won't earn extra cash back on select purchases or with rotating categories. Instead, the earnings here can be a great complement to other credit cards, earning 2% back on purchases that fall outside the bonus categories on your other cards.

Redeeming Rewards With the Active Cash Card

There are plenty of options to redeem the cash back you earn on the Active Cash Card:

  • Redeem for purchases made with the Active Cash Card.
  • Redeem towards a Wells Fargo checking account, credit card, or mortgage.
  • Pay with your rewards when you pay through PayPal.
  • Redeem for gift cards through Wells Fargo.
  • Withdraw in $20 increments from any Wells Fargo ATM.

Application Restrictions and Strategy

Wells Fargo terms and conditions carry the following disclaimer:

“If you opened a Wells Fargo Credit Card account within the last six months, then you may not qualify to open an additional Wells Fargo Credit Card account. We may also limit how many open Wells Fargo Credit Card accounts you have.”

If you've opened a Wells Fargo credit card in the last few months, you may want to consider applying for a card with another issuer while waiting for your current Wells Fargo card to mature. Additionally, Wells Fargo is known for restricting would-be applicants from earning more than one welcome bonus on credits in a 15-month period. You need to time your applications strategically if you're interested in the Active Cash Card or another Wells Fargo card.

Related: Understanding Rewards Credit Card Application Rules and Restrictions

Cards That Compete With the Active Cash Card

The Active Cash Card isn't without peers, and some of these may be a better fit for your wallet. Let's look at your options to help you make an informed choice about cards with no annual fee.

  • If you want 2% back on everything but extra redemption options, the Citi® Double Cash Card is a good choice. Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. The real magic happens when you have a premium Citi credit card and combine your earnings to use with Citi's transfer partners, complementing the cash-back redemption options. Full details are in our Citi Double Cash review.
  • If you want even more earnings when shopping online, consider the PayPal Cashback Mastercard®. On top of earning 2% cash back on everyday purchases, you'll earn 3% back when you pay with PayPal. Paying with PayPal is increasingly common, meaning you could earn extra rewards on thousands of dollars in purchases annually. However, there's no welcome bonus on this card.
  • If you want extra rewards from your banking relationship, check out the Bank of America® Unlimited Cash Rewards credit card. Earn unlimited 1.5% cash back on all purchases, which is admittedly less than what you'll get with the Active Cash Card. However, Bank of America Preferred Rewards members can earn up to 75% extra on all purchases, depending on their account balances. That could turn into 2.625% back on all purchases. Our full review of the Bank of America Unlimited Cash Card has more details.

Related: Best Credit Cards for Everyday Purchases

Bottom Line

In conclusion, the Active Cash Card is a great option for someone looking to earn money on everyday purchases. With a $0 annual fee and solid benefits to complement the rewards on the card, it can be a top cash-back card in your wallet. You won't earn extra rewards in bonus categories or get outsized value through transfer partners, but those looking for simplicity may not mind trading those for a good earning rate across the board.

Wells Fargo Active Cash® Card
Wells Fargo Active Cash® Card
Annual Fee$0
Welcome Bonus Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months
  • Earn unlimited 2% cash rewards on purchases

Citi Premier Card Frequently Asked Questions

Does the Wells Fargo Active Cash® Card have an annual fee?

No, the Wells Fargo Active Cash® Card does not charge an annual fee.

Does the Wells Fargo Active Cash® Card charge foreign transaction fees?

Yes, the card charges a 3% fee on all foreign transaction amounts converted to U.S. dollars.

Am I eligible for the Wells Fargo Active Cash® Card?

You may be ineligible if you've received a welcome offer on another Wells Fargo card in the past 15 months or if you have opened another Wells Fargo card in the past 6 months.

Do Wells Fargo Active Cash® Card rewards expire?

Cash rewards do not expire as long as your account is open.

For rates and fees of the cards mentioned in this post, please visit the following links: Wells Fargo Active Cash® Card (Rates & Fees)

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