|Highlights||Credit Card Feature|
|Things We Like||Signing bonus of $200 cash rewards bonus|
|Our Least Favorite||3% foreign transaction fee|
|Our Verdict||Great card for unlimited 1.5% cash rewards|
Wells Fargo Cash Wise Visa® Card is a credit card that gives you high flat-rate cash back on all your purchases. With this card, Wells Fargo offers an alternative to other cash back cards. If you are looking for a solid cash back credit card with no annual fee that lets you earn unlimited cash back, read our Wells Fargo Cash Wise Visa® Card review to see what it offers and how Wells Fargo Cash Wise Visa® Card compares to other top cash back credit cards.
Things We Like About Wells Fargo Cash Wise Visa® Card
Earn $200 cash rewards bonus after spending $1,000 in the first 3 months. This welcome offer is a great start to earning cash rewards, spending $1,000 is easy to achieve over 3 months just by making everyday purchases.
You earn unlimited 1.5% cash rewards on purchases. If you prefer earning a flat rate of cash back on all the purchases you charge to your card then this card could work well for you. All the purchases you make earn 1.5% cash rewards with no limit on the amount of rewards you can earn and rewards don't expire as long as your account remains open.
You get a Goggle Pay™ and Apple Pay® bonus for the first 12 months. This benefit lets you earn 1.8% cash rewards on qualified mobile wallet purchases, like Apple Pay® or Google Pay™ which sets this card apart from similar cash back credit cards, and makes it a good choice if using Apple Pay® or Goggle Pay™ is your thing. You earn an extra bonus above the 1.5% base rate on purchases, so you get a total of 1.8% cash rewards during the first 12 months from the date on which your account is opened.
You don't pay an annual fee. This card has a $0 annual fee, which is a plus because the cash back you earn is pure savings.
It's a good card for balance transfers. If you have credit card debt and don't want to waste more money on interest charges, you can transfer your balance to this card in order to benefit from the balance transfer intro offer. This card has a 0% intro APR for 12 months on purchases and qualifying balance transfers (fees apply; balance transfers made within 120 days qualify for the intro rate and fee), after which a 16.24% - 28.24% variable APR applies.
You benefit from an introductory low APR period on purchases. The introductory APR period - 0% intro APR for 12 months on purchases and qualifying balance transfers (fees apply; balance transfers made within 120 days qualify for the intro rate and fee) with a 16.24% - 28.24% variable APR after that; is also useful if you need credit which you can pay off over a long period without paying interest. For example, if you want to buy a used car and have a large enough line of credit to make the purchase, you can pay that purchase off during the introductory low APR period and enjoy an interest-free auto loan, so to speak. Just note that cash advances do not benefit from this perk. Only purchases charged directly to your card are eligible.
Cash rewards can be redeemed in different ways. Your cash rewards can be redeemed as a statement credit, towards an eligible Wells Fargo mortgage or loan payments, gift cards, merchandise and travel. If you bank with Wells Fargo, you can redeem them directly into your Wells Fargo checking or savings account or redeem them via a cash withdrawal at a Wells Fargo ATM (debit or ATM card required for ATM redemption).
Complimentary cellular phone protection is another plus for smartphone buffs. If you use this card to pay your monthly phone bills, you automatically benefit from protection against theft or accidental damages. You can claim up to $600 of coverage towards the cost of replacing your stolen or severely damaged phone, although you will have to cover $25 of your claim as an out-of-pocket deductible. Most mobile phone service providers offer the option of paying bills via credit card, at least when you set up a recurring payment. The cash back you earn is another good reason to pay your phone bills with this card.
Track your cash rewards. The Cash Track service lets you set up a target amount for cash rewards. Your rewards will then be redeemed when you reach that target. This can help make your life easier by redeeming your cash back for you when a certain amount is reached.
Get flexible alerts. When you use this card, you can choose to receive alerts (as text messages or emails) when different events occur. Although other cards offer alerts, this card lets you choose when you receive alerts. For example, you can choose to receive alerts when a purchase is made online, to safeguard yourself against fraudulent card-not-present transactions. Or perhaps you also want to receive alerts when a purchase exceeds a preset limit you choose. The many flexible options mean that you can choose to get only the alerts that really matter to you.
There is a credit insurance option. In case you are wondering what that means, credit insurance will pay out a benefit to cover your minimum credit card payment or 4% of the new balance (whichever is larger) for up to 12 months, if you become unemployed due to being hospitalized, becoming disabled or involuntarily losing your employment for several other covered reasons. If you die, your entire balance will be covered. You will have to apply for this benefit at a Wells Fargo branch and you will pay a premium equal to 39 cents of each $100 of transactions shown on your card statement. Terms and conditions apply, so read the policy details before signing up for this optional coverage.
Overdraft protection option. If you have a Wells Fargo checking account, you can link your account to this card so that overdrafts are automatically covered by your credit card. This can help you avoid overdraft fees, but it's important to note that payments towards overdrafts come at a price. You pay $12.50 if for total daily overdraft protection advances of $50 or less and $20 if total overdraft protection advances for the day are over $50. Still, considering that Wells Fargo checking account overdraft fees can be much higher than that amount, getting this protection is a good idea as long as you repay the cash advance quickly to avoid excessive interest charges.
Visa benefits. This card comes with a number of benefits from Visa, including auto rental collision damage waiver, a pay-per-use roadside assistance program (Roadside Dispatch®), travel and emergency assistance services and worldwide automatic travel accident insurance.
Our Least Favorite Things About Wells Fargo Cash Wise Visa® Card
There's a foreign transaction fee. If you travel outside of the US a lot, this isn't the card to take with you. It has a 3% foreign transaction fee, which means you pay just to make a purchase in a foreign currency. If you only use this card within the US, this fee won't pose a problem for you.
How Other Cards Compare With Wells Fargo Cash Wise Visa® Card
|Intro APR:||0% Intro APR for 15 months from account opening on purchases and balance transfers|
|Regular APR:||16.99% - 25.74% Variable|
|Intro APR:||0% Intro APR on Balance Transfers for 18 months*|
|Regular APR:||15.99%– 25.99% (Variable)|
|Credit Required:||Excellent, Good|
|Intro APR:||0% Introductory APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days|
|Regular APR:||15.99% - 25.99% Variable APR|
Wells Fargo Cash Wise Visa® Card is a well-rounded cash back credit card which is especially beneficial if you use Apple Pay® or Google Pay™, or if you are considering giving them a go. The flat-rate cash back you earn on all purchases you make with this card makes it easy to save without the hassles of dealing with rotating purchase categories or having to carry around multiple cash back credit cards for different kinds of purchases.
If you want a decent introductory low APR period, good cash back, useful insurance coverages and other benefits all at $0 annual fee, then Wells Fargo Cash Wise Visa® Card may work well for you.
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