Wells Fargo Active Cash® Card Review [2024]: The Flat-Rate Cash Rewards King? (2024)

There’s nothing flashy about the Wells Fargo Active Cash® Card, but there doesn’t have to be. It’s a simple cash rewards card that offers some valuable perks, not the least of which is the fact that you can earn 2% cash rewards on purchases. This competes with some of the best cash rewards options out there.

We like this card’s simple cash back structure, $0 annual fee, and cell phone protection benefit. This Wells Fargo Active Cash Card review will fill you in on the card’s pros and cons so you can decide whether it deserves a spot in your wallet.

Key takeaways

• The Wells Fargo Active Cash^® Card has competitive, simple cash back. You can earn 2% cash rewards on purchases.
• It has a low spend threshold for its welcome offer — $200 cash rewards bonus after spending $500 in purchases in the first 3 months.
• One downside is its foreign transaction fee of 3%.

Who should get the Wells Fargo Active Cash Card?

The Wells Fargo Active Cash Credit Card could be a good fit if you want a card that earns a flat, unlimited rate on eligible purchases. It’s simple to understand because there aren’t any spending categories to think about. For example, you don’t have to wonder what cash rewards rate you can earn from filling up your gas tank compared to buying groceries — you earn the same rate on each eligible purchase.

In addition, this card has a $0 annual fee, which means your cash rewards stay with you instead of offsetting an annual cost.

If you’re currently building your credit, though, consider the credit score requirements for the Wells Fargo Active Cash. You typically need a good or excellent credit score to be approved for this card, which could be limiting for some people.

Card basics

Wells Fargo Active Cash Card benefits and perks

Generous welcome bonus

If you compare credit cards, you’ll notice many provide a welcome bonus for new cardholders. The Wells Fargo Active Cash Card's welcome offer is a $200 cash rewards bonus after spending $500 in the first 3 months.

That is a relatively low spending threshold compared to other cash back cards. For example, the Blue Cash Everyday^® Card from American Express allows you to earn a $200 statement credit after spending $2,000 in purchases in the first 6 months.

Cash advances and balance transfers don't count toward the Active Cash Card’s welcome bonus.

Cell phone protection

Cell phone protection isn’t a common benefit, but this card offers up to $600 of cell phone insurance against damage or theft when you pay your monthly cell phone bill with your card. Be aware there's a modest $25 deductible with this protection.

Good redemption options for Wells Fargo customers

The redemption options for this card are especially good for Wells Fargo customers. Your rewards can be redeemed for statement credits, gift cards, merchandise, and travel.

And if you have an eligible Wells Fargo account, you could also redeem your cash rewards for credits to a mortgage or loan account, cash redemptions when you use your Wells Fargo ATM or debit card at a Wells Fargo ATM, or direct deposits to a savings or checking account.

Intro APR offers

If you want to avoid interest on balance transfers or purchases, the Wells Fargo Active Cash offers a 0% introductory APR on qualifying balance transfers for 15 months from account opening on qualifying balance transfers (then 20.24%, 25.24%, or 29.99% Variable APR). There is a balance transfer fee of 3% for 120 days from account opening, then up to 5%; min: $5.

There is also a 0% intro APR on new purchases for 15 months from account opening (then 20.24%, 25.24%, or 29.99% Variable APR). These offers are comparable to those offered by the best 0% APR credit cards, but if having a lengthy intro APR period is important, there are better cards out there.

For example, the Wells Fargo Reflect® Card has a 0% intro APR for 21 months from account opening on qualifying balance transfers on qualifying balance transfers, then 18.24%, 24.74%, or 29.99% Variable APR. It also offers a 0% intro APR on purchases for 21 months from account opening, then 18.24%, 24.74%, or 29.99% Variable APR.

Visa card benefits

Cardholders receive Visa Signature benefits, which include a 24/7 concierge service for travel, dining, and entertainment needs, and benefits with the Visa Signature Luxury Hotel Collection.

Drawbacks to the Wells Fargo Active Cash Card

No bonus categories

There’s nothing complicated about earning cash rewards with this card because you don’t have any available bonus categories. But the downside is you won’t earn extra rewards when using your card on certain purchases. Many other cash rewards cards have bonus earning categories, which could potentially net you more rewards.

For example, the Chase Freedom Unlimited® allows you to earn 5% cash back on travel purchased through Chase Travel, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service and unlimited 1.5% cash back on all other purchases.

No premium benefits

No-annual-fee credit cards don’t typically offer many benefits, which you find with the Wells Fargo Active Cash. If you want premium benefits, such as airport lounge access or annual travel credits, consider one of the best travel credit cards instead.

Foreign transaction fee

This card charges 3% for foreign transactions, so don’t plan on using this for purchases while traveling abroad.

Earning & redeeming cash rewards with the Wells Fargo Active Cash Card

Potential earnings in years one and two

Here's a look at how your cash rewards can add up with the Wells Fargo Active Cash Card.

Remember, this is an estimation. The actual value will be determined by how much you spend.

Year one earnings: $870

Year two earnings: $670

These values are based on the FinanceBuzz Credit Card Rewards Valuation Model which takes a look at points earned via spending, the welcome bonus, and the annual fee.

Best ways to earn

The Wells Fargo Active Cash offers one way for you to earn rewards, which is by making purchases with your card. You’re able to earn 2% cash rewards on purchases.

If you want to increase your potential cash rewards, it’s best to use your card for every purchase you can. Think about your everyday expenses, such as eating out and groceries, and don’t forget about using your card to pay your cell phone bill (which gives you cell phone protection). The more you use your card, the more cash rewards you can earn.

Maximizing your redemptions

Any cash rewards you earn with the Wells Fargo Active Cash can be redeemed in multiple ways through the Wells Fargo Rewards program, including gift cards, statement credits, merchandise, and travel.

In addition, Wells Fargo customers with eligible accounts get a few more options, such as deposits of $25 increments into a savings or checking account and withdrawals of $20 increments from Wells Fargo ATMs with a Wells Fargo debit or ATM card. If you have a Wells Fargo mortgage or loan, you have the option to redeem your rewards as a credit on your applicable account.

Overall, there’s typically no difference between the value of these redemption options other than your personal preference. Wells Fargo Rewards points aren’t necessarily worth more between different redemption options, other than one exception. If you also have the Wells Fargo Visa Signature Card, you can pool your points, and you would get a 50% bonus toward travel redemptions on airfare. In this situation, using your points for flights would be the most valuable redemption option.

Wells Fargo Active Cash Card FAQs

Other cards to consider

The Wells Fargo Active Cash is a top pick for cash rewards enthusiasts. But if it’s not the right fit for you, consider these other cashback credit cards.

The Chase Freedom Unlimited^® has a $0 annual fee and offers cash back rewards of 5% cash back on travel purchased through Chase Travel, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service and unlimited 1.5% cash back on all other purchases. You can also earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year). The Wells Fargo Active Cash has a higher earning rate than the Freedom Unlimited in its non-bonus categories. But if you can take advantage of the Freedom Unlimited’s bonus categories, you have the potential to earn more cash back.

Learn more about this card in our Chase Freedom Unlimited review.

The Citi Double Cash^® Card is one of the top flat-rate cashback cards. It has a $0 annual fee and offers 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases; plus, for a limited time, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/24. TheCiti Double Cash offers a generous0% intro APR on balance transfers for 18 months, then 19.24% - 29.24% (Variable) APR.

Learn more about this card in our Citi Double Cash Card review.

Bottom line

The Wells Fargo Active Cash Card has a lot to offer. We like the straight-forward earnings rate and it's an especially good fit for current Wells Fargo customers. But if you want to explore other options, check out our list of the best cash back credit cards.