Wells Fargo Active Cash Card Review: An All-Around Cash Rewards Champ

The Wells Fargo Active Cash® Card is good for a simple one-card wallet or as a catch-all card in a multi-card rewards strategy. The flat rewards rate is very competitive, plus new cardholders can enjoy a welcome bonus and intro APR offer. You won't want to take it abroad, but it's a great pick for your everyday shopping.

Check out our in-depth Wells Fargo Active Cash® Card review to see if this card is a fit for your needs.

Wells Fargo Active Cash Card review

Is the Wells Fargo Active Cash® Card worth it?

Yes, for a lot of folks, the Wells Fargo Active Cash® Card could be well worth picking up. It's a very competitive flat-rate rewards card, which makes it a solid pick for a one-card wallet. It also lets it fill the base position in a broader rewards strategy, covering all of those purchases that don't fit neatly into another card's bonus category.

Author's note

I prefer points to cash back, so my personal rewards strategy doesn't include this card. But if I were to build a wallet using only cash back rewards cards, this would definitely be its anchor. The flat rate is as high as I've seen, so you'd be hard-pressed to find a better card for all of your non-category purchases -- especially with no annual fee. And I could definitely put the welcome bonus and intro APR offer to very good use.

What everyone else is saying

We've told you what we think, but what are other folks saying about the Wells Fargo Active Cash® Card? Let's take a look.

What our competitors think

Average competitor rating: 4.2 / 5.0 stars

We read the reviews from five of our top competitors. Everyone agrees that the rewards rate is great for a flat-rate cash rewards card. And we all love the welcome bonus and intro APR offer.

However, our competitors noted the same cons we did, calling out the balance transfer and foreign transaction fees. Beyond that, the sites with more of a travel focus seemed less impressed with cash back rewards overall -- which makes sense, but it may explain the lower scores.

The social media consensus

Folks online seem to really dig this card. The majority of the feedback I've found on social media sites is overwhelmingly positive.

Like us, cardholders love the competitive cash rewards rate. It seems most folks are using it as their go-to card for non-bonus-category spend. I also saw a lot of mentions of the cellphone insurance benefit when you pay your cellphone bill with your card.

Most complaints I found were from folks who didn't get approved for the card. Otherwise, the big beef from actual cardholders seemed to be an older policy on cash rewards redemption (you could only redeem in $25 increments). Wells Fargo has since changed that policy, and cardholders seem pleased with the changes.

Wells Fargo Active Cash Card features and benefits

Unlimited 2% flat-rate rewards means you don't have to activate or track bonus categories

I love all my rewards credit cards, but I can admit that activating categories, tracking bonuses, and keeping up with rewards caps can be a bit much at times. The Wells Fargo Active Cash® Card rewards require none of that.

With the Wells Fargo Active Cash® Card, you get unlimited 2% cash rewards on purchases -- period. Nothing to activate, nothing to track. (In fact, this actually sets it apart from other 2% cards, too, since many of them have extra speed bumps like only getting half your rewards when you make your purchase, or having to redeem your rewards into a specific account.)

• Heading to the grocery store? 2% cash rewards.
• Hitting the hardware store? 2% cash rewards.
• Buying concert tickets? 2% cash rewards.

This rewards versatility means you could use the Wells Fargo Active Cash® Card as the only card in your one-card wallet, since you'll get a fair rate on pretty much everything.

However, that's not it's only use. It's also a nice pick for rounding out your cash back maximization strategy. Pair it with a nice gas and grocery rewards card, maybe a dining rewards card, and you could cover most of your bases without a huge amount of effort.

Earn an easy $200 cash rewards welcome bonus without a ton of spend

When the Wells Fargo Active Cash® Card first came out, it wasn't the only 2% cash rewards card -- but it was the only one I knew of that had a regular welcome bonus. (I don't think it's a coincidence that similar cards now have welcome bonuses, too!)

Beyond the fact that it exists at all, the amount of the welcome bonus isn't remarkable; many of the best no annual fee rewards cards have $200 welcome bonuses. But what I really like about the Wells Fargo Active Cash® Card is that you don't have to spend a fortune to earn that welcome bonus. You only need to put $500 on your new card in the first three months to earn the $200 cash rewards welcome bonus.

That's half, if not a third, of what other cards require for the same size welcome bonus. And it works out to around $167 a month. If you're like me, you could meet that by paying for just your cellphone, internet, and streaming services -- with a lot of bills left over!

Long 0% APR intro offer gives you time to pay off big purchases without big fees

As someone still paying off an expensive move last year, I have a new appreciation for intro 0% APR offers. And the Wells Fargo Active Cash® Card has a very competitive one: 0% intro APR for 15 months from account opening. (After the intro period, the go-to rate of 20.24%, 25.24%, or 29.99% Variable APR applies.)

That's more than a year you could carry a balance without having to pay interest fees on it. This lets you break down large purchases into smaller monthly payments, giving you a lot of breathing room to pay them off without fees.

Here's an example: Suppose you open your card in March and make an eligible purchase of $5,000. You can make just the minimum payment each month (which will be significantly less than $5,000) and interest won't start to accrue on that purchase until June -- the following year.

Pro tip: Make sure you make at least the minimum payment on time every month or you'll lose your 0% APR!

No annual fee to eat into your Wells Fargo Active Cash® Card rewards

I love a good no annual fee card, and this card is certainly that. Having the Wells Fargo Active Cash® Card $0 annual fee is good for just about any type of cardholder.

One-card walleter? Great! You never have to worry about annual fees and can live your life in peace.

Maximizing rewards and want a flat-rate card for non-category purchases? Also great! You don't have to worry about how often you use your card in an effort to justify some inflated fee.

Cellphone protection gives you $600 worth of peace of mind

If you've ever watched in shocked horror as your $1,000 cellphone slips from your partner's hand while they angle for the perfect shot -- well, let's just say everyone should have some kind of cellphone insurance. Those things aren't cheap to replace.

The simplest way? Use your Wells Fargo credit card to pay your cellphone bill. The Wells Fargo Active Cash® Card offers coverage in the event of theft, damage, or "involuntary and accidental parting." You can get up to $600 per claim, minus a $25 deductible.

What could be improved

Flat-rate rewards mean there are no bonus categories

The Wells Fargo Active Cash® Card's greatest asset is also arguably its greatest drawback: flat-rate cash rewards. Yes, you're getting a competitive rate on non-category purchases, but the trade-off is that the card doesn't have any bonus categories.

Some cards make these categories exceptionally lucrative. One of my favorite cards offers 6% cash back on groceries, for instance. So you're potentially missing out on a lot of potential rewards if you choose to use only the Wells Fargo Active Cash® Card.

Folks who don't want to bother with multiple cards will be happy with the tradeoff. Folks who want to earn more rewards may want to consider augmenting their Wells Fargo Active Cash® Card with a few cards with bonus categories that match their spending habits.

Wells Fargo Active Cash® Card foreign transaction fees make it expensive to use your card abroad

If you're thinking of taking this credit card on your next trip out of the country, think again. The Wells Fargo Active Cash® Card includes a 3% foreign transaction fee for any purchases made in a foreign currency or that routes through a foreign bank.

That's more than you'll earn back in cash rewards, meaning these purchases are going to cost you money. For example, if you travel to Canada and use your card to pay for some fresh poutine, you'll earn 2% cash rewards but end up paying 3% in foreign transaction fees on the purchase.

And you don't need to travel to wind up paying this fee; some online purchases could be in a foreign currency, especially on marketplace or crowdfunding sites. Even if you pay in USD, if the purchase is from a foreign supplier and goes through its bank, it could still trigger the foreign transaction fee.

Folks who travel regularly may want to pick up another card with no foreign transaction fees to supplement their Wells Fargo Active Cash® Card.

Wells Fargo Active Cash® Card credit score

The Wells Fargo Active Cash® Card is best for applicants with good credit, which typically means a credit score of 670 or higher. However, remember that issuers look at more than your credit score when evaluating your card application, including your income and full credit history.

Take a look at our guide to the Wells Fargo credit card application rules to learn more about how the process works.

Pre-approval process

You can use the Wells Fargo Prequalified Offers page to check for any Wells Fargo credit cards for which you may be prequalified. Pre-approval takes less than a minute, will use a soft credit pull -- this doesn't hurt your credit score -- and requires your name, address, and the last four digits of your Social Security number.

You may not be eligible for a new Wells Fargo credit card if you've opened a Wells Fargo credit card within the last six months.

Intro APR

The Wells Fargo Active Cash® Card offers a 0% APR intro period for purchase and balance transfers for 15 months from account opening. (After that, your APR will be 20.24%, 25.24%, or 29.99% Variable APR) This is a pretty competitive intro offer for a cash rewards card, especially because it applies to both new purchases and balance transfers.

Keep in mind that you may not be eligible for the intro APR if you've had or opened a Wells Fargo Active Cash® Card in the last 48 months.

Fees

• Annual fee: $0
• Balance transfer fee: 3% of each transferred amount on transfers made within the first 120 days, then up to 5%, min: $5
• Cash advance fee: 5% of the total amount ($10 minimum)
• Foreign transaction fee: 3% of each transaction converted to U.S. dollars
• Late payment fee: Up to $40

Credit limit

Reports indicate the Wells Fargo Active Cash® Card credit limit can start as low as $1,000 or as high as $20,000, depending on your income, credit, and history with Wells Fargo.

Cardholder reports also suggest Wells Fargo doesn't hand out unsolicited increases. However, you can request a credit limit increase by calling Wells Fargo at 1-800-642-4720. (Requesting a credit limit increase may result in a hard credit pull, though reports suggest a soft pull is most likely.)

Grace period

The grace period for this card is 25 days after the close of the billing cycle. Cardholders can avoid paying interest if the entire balance is paid by the due date of each month.

This card is a solid option, but it's hardly the only one out there. If the Wells Fargo Active Cash® Card doesn't quite suit your needs, check out these alternatives.

If you want flat-rate travel rewards: The Capital One Venture Rewards Credit Card (see rates and fees) is also a flat-rate rewards card, but it earns travel rewards instead of cash back. Venture Miles can be redeemed directly for travel, or transferred to an airline or hotel partner program. Plus, you can take your card on your travels without paying foreign transaction fees.

If you prefer Citi cards: The Citi Double Cash® Card also earns up to 2% back on purchases, giving you 1% when you buy and 1% when you pay. Plus, you still get an intro APR offer and a welcome bonus. The only real difference is you'll be in the Citi credit card ecosystem. If you already have CIti cards, or simply prefer Citi over Wells Fargo, this could be a good flat-rate rewards choice.

Our credit card methodology

At The Motley Fool Ascent, we rate credit cards on a five-star scale (1 = poor, 5 = best). Our rating criteria includes rewards rates, welcome bonuses, fees, and perks like travel credits and 0% intro APR offers to evaluate our ratings.

We combine these factors with an evaluation of brand reputation and customer satisfaction to ensure you're getting the best card recommendations. Learn more about how The Ascent rates credit cards.