Wells Fargo Cash Wise Visa® Card Review
October 22, 2018
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The Wells Fargo Cash Wise Visa® Card offers a simple rewards proposition, a solid signup bonus, and valuable perks consumers will love. The best part is, consumers can sign up for this card and earn rewards on their regular spending without paying an annual fee.
If you’re in the market for a cash-back credit card and don’t want to deal with confusing rewards schemes or points that are hard to redeem, you should look long and hard at the Wells Fargo Cash Wise Visa® Card and what it has to offer.
- Earn $200 after you use your card for $1,000 in purchases in the first 3 months
- Rack up a flat 1.5% cash-back for each dollar you spend
- Earn 1.8% cash-back on qualified mobile wallet purchases with Apple Pay or Google Pay for twelve months
- Get 0% APR on purchases and balance transfers for 12 months (balance transfer fee does apply)
Wells Fargo Cash Wise Visa Card: Solid Cash-Back Card Anyone Could Love
The Wells Fargo Cash Wise Visa® Card offers a simple cash-back proposition: Earn a flat 1.5% back for each dollar you spend on anything with no limits or exclusions.
In a world where many cards offer rotating categories or limits on earnings, the Wells Fargo Cash Wise Visa® Card makes things simple. You won’t have to wonder which category is doling out more than 1% back in any given quarter, nor will you have to worry about earnings limits or caps. The only exception is your ability to earn 1.8% back on qualified mobile wallet purchases for 12 months, which you’ll surely want to take advantage of if you like to make purchases with your smartphone.
You also qualify for a large signup bonus with this card. While comparable 1.5% back cards like the Chase Freedom Unlimited® offer only $150 in bonus cash with a minimum spending requirement of $500, the Wells Fargo Cash Wise Visa® Card offers $200 after you use your card for $1,000 in purchases within 3 months.
When it comes to redemptions, you’ll find that cashing in your points is simple. Cash redemption options via statement credits are available in $25 increments, and you can apply for a redemption online or over the phone. You can also redeem your points for cash with Wells Fargo ATMs or cash them out to a Wells Fargo bank account in $20 increments. Note: You must have a Wells Fargo ATM card to redeem rewards at Wells Fargo ATMs.
Other benefits the Wells Fargo Cash Wise Visa® Card offers help it stand out as well. For starters, this card comes with $600 in cell phone protection (subject to a $25 deductible) against qualifying theft or damage when you pay your bill with your Wells Fargo Cash Wise Visa® Card each month. You’ll also get access to your FICO score for free, which can be valuable if your goal is monitoring and improving your credit each month.
We also love the card’s offer of 0% APR for 12 months, particularly because it extends to both balance transfers and purchases. If you need to buy pricey appliances or electronics or pay college tuition, you could sign up for the Wells Fargo Cash Wise Visa® Card, earn a $200 signup bonus, rack up 1.5% back, and pay your purchase down slowly with no interest over 12 months. This trifecta of benefits makes this card hard to beat.
Why You Might Want to Skip the Wells Fargo Cash Wise Visa® Card
All the benefits above are good ones, but there are still a few reasons to consider a different rewards card. You may want to earn more than 1.5% back in categories you spend a lot in, for example. Or, you may prefer a card with a larger signup bonus you can earn right away.
As an example, you may want to consider the Capital One® Savor® Cash Rewards Credit Card instead. Earn a one-time $500 cash bonus after you spend $3,000 on your card within three months from account opening. You also earn 4% back on dining and entertainment, 2% back at grocery stores, and 1% back on all other purchases. If you spend a ton of money on dining, entertainment, and grocery stores each month, this card could help you earn more cash-back over time.
In addition to not offering the most valuable rewards tiers among its competitors, the Wells Fargo Cash Wise Visa® Card is also lacking in the travel rewards department. While you could redeem your points for cash-back to cover travel expenses, this card doesn’t offer the option to use points to book travel directly. It also fails to offer any way to transfer points to hotel and airline partners.
Should You Get the Wells Fargo Cash Wise Visa® Card?
While the Wells Fargo Cash Wise Visa® Card isn’t an ideal travel credit card, it’s not really trying to be. What this card does best is offer a flat rate of cash-back that is higher than many competitors without an annual fee. Since it offers a signup bonus that is beefier than competing cards like the Chase Freedom Unlimited® and Capital One® Quicksilver® card, we also think it’s a better option if you want to earn 1.5% back at a minimum without an annual fee.
Should you sign up for this card? At the end of the day, it really depends on your rewards goals and spending style. It’s possible you could earn more rewards over time with a card that offered category bonuses that align with your regular purchases. It’s also possible you could earn a much larger signup bonus if you were able to meet a higher spending requirement within the first three months.
If you’re considering this card, make sure to check out all the cash-back cards on the market so you can compare signup bonuses, ongoing rewards, and other perks. By comparing offers side-by-side, you should ultimately find the best card for your needs.
- Credit Recommended:
- Intro (Purchases)
- 0% for 12 months
- Intro (Transfers)
- 0% for 12 months
- Regular APR
- 15.99%-26.99% (Variable)
- Annual Fee
- Credit Recommended
- Intro Purchase APR
- Earn a $200 cash rewards bonus after spending $1,000 in the first 3 months
- Earn unlimited 1.5% cash rewards on purchases
- Enjoy 1.8% cash rewards on qualified mobile wallet purchases, like Apple Pay® or Google Pay™, during the first 12 months from account opening
- No category restrictions or sign ups and cash rewards don't expire as long as your account remains open
- Get up to $600 protection on your cell phone (subject to $25 deductible) against covered damage or theft when you pay your monthly cellular telephone bill with your Wells Fargo Cash Wise Visa® Card
- 0% Intro APR for 12 months on purchases and balance transfers (fees apply), then a 15.99%-26.99% variable APR; balance transfers made within 120 days qualify for the intro rates and fees
- $0 Annual Fee
- Select "Apply Now" to learn more about the product features, terms, and conditions