Wells Fargo Active Cash Review: 2% Cash Back Yay or Nay?

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The 2% cash back credit card club is relatively exclusive. There are not many cards that offer a flat 2% cash back on all purchases. Even fewer 2% cards offer a sign-up bonus, a 0% intro interest rate for new purchases and balance transfers, and a $0 annual fee. This puts the Wells Fargo Active Cash card in a league above the others.

This Wells Fargo Active Cash review of the card benefits and the pros and cons will help you decide whether it will make good financial sense to apply for the card.

What is the Wells Fargo Active Cash Card

First available in summer 2021, the Well Fargo Active Cash card is a Visa Signature card offered by America’s 3rd largest bank.

Wells Fargo Active Cash Credit Card

You get a generous 2% cash back rewards rate for all purchases. This cash back rate is higher than many competitors’ offerings, with no rotating categories or spending caps to worry about. This makes the Wells Fargo Active Cash a solid credit card for those who prefer to carry one card in their wallet for most of their shopping.

Some cash back cards come with an annual fee, which immediately puts you in a hole at the start of each year until you have enough spending to crawl out. This is not the case with the Wells Fargo Active Cash since there are no annual fees to be a cardholder.

The card also has a welcome bonus with a low threshold – a $200 cash reward after spending $500 in the first 3 months.

You also get many flexible redemption options including a statement credit with a minimum $1 balance.

Wells Fargo Active Cash Card Fees

  • Annual Fee: $0
  • Purchase Interest Rate: 20.24%, 25.24%, or 29.99% APR after 0% APR for 15 months for both purchases and balance transfers
  • Balance Transfer Fee: 3% for the first 120 days. Then 5%
  • Cash Advance Interest Rate: 29.99%
  • Foreign Transaction Fee: 3%
  • Late Payment Fee: Up to $40

Wells Fargo Active Cash Pros and Cons


  • Unlimited 2% cash back rewards
  • No annual fee
  • A $200 welcome bonus
  • 0% APR for 15 months
  • Free cell phone protection


  • Foreign transaction fee

Wells Fargo Active Cash Card Benefits

Here are all the perks and benefits of why you might want the Wells Fargo Active Cash card in your wallet.

$200 Welcome Offer

The Active Cash card’s $200 signup offer has a low spending threshold of $500 in the first three months to get the welcome bonus. This amount is lower than many competing no-annual-fee cash rewards cards. A lower spending requirement means you won’t be tempted to overspend for the signup bonus.

One caveat you should keep in mind is that you may not be able to qualify for a new Wells Fargo card if you were approved for another Wells Fargo credit card in the last 6 months.

You also may not be eligible for the welcome bonus and introductory rates if you’ve opened another Wells Fargo Active Cash credit card account in the last 48 months even if the account was closed with a $0 balance.

0% Introductory Interest Rate

The Wells Fargo Active Cash card gives new members a lengthy period to avoid paying interest for using their new card. You’ll pay 0% APR for purchases and balance transfers for 15 months from the date of account opening. After that, you will pay 20.24%, 25.24%, or 29.99% depending on your creditworthiness.

You have 120 days from account opening to make a balance transfer to qualify for the introductory APR promotion. During the first 120 days, you will pay an introductory balance transfer fee of $5 or 3%, whichever is greater. After 120 days, the balance transfer fee goes up to 5%.

The 0% intro APR and lower intro transfer fee for balance transfers are great for when you have a higher-interest credit card you want to pay off faster.

Easy Redemption Options

Earning cash back doesn’t do you any good if there is a large redemption amount you have to meet before you can get your money.

The Active Cash card offers many ways you can get your cash back rewards starting as low as $1:

  • As a statement credit on your Wells Fargo Active Cash purchases for as little as $1
  • Withdraw as cash at Wells Fargo ATMs in $20 increments using a Wells Fargo ATM or debit card
  • Cash redemption via phone or online in $25 increments
  • As credit towards the principal payment on a Wells Fargo mortgage, loan, or credit product
  • Redeem for physical and electronic gift cards in a variety of different amounts
  • Use rewards to checkout with PayPal when you shop at millions of online stores
  • For charitable donations, travel, and merchandise

Redeeming as a statement credit is usually the best option for most people. Using your rewards for PayPal purchases may seem convenient, but you can maximize your rewards instead by adding your Wells Fargo Active Cash card to your PayPal account and earning 2% cash back every time you pay with PayPal.

No Annual Fee

There are zero annual fees for being an Active Cash card member. This includes cards for authorized users also if you want extra cards for other members in your household to maximize your cash back rewards.

The whole point of using a cash back rewards card is to get money back for your spending, not give money to the credit card company.

A 2% cash back card like the Wells Fargo Active Cash means you have to spend $50 to earn $1 in cash back. The higher the annual fee, the more you will have to spend and the longer it will take to come out ahead.

No-annual-fee cards are perfect to help boost the length of your credit history. Credit age is one of the five FICO scoring factors that makes up about 15% of your credit score and is determined by the average age of your credit accounts. There are no financial costs to leave these cards sitting in the drawer for years and years.

Free Cell Phone Protection

Pay your monthly phone bill with the Wells Fargo Active Cash card and automatically get free insurance coverage for your mobile phone. It will cover up to $600 per claim, up to two claims per year with a $25 deductible.

This is a better bargain than purchasing mobile phone insurance through your carrier and requires no additional work. You only need to have paid your wireless bill using the card the month before your phone was stolen, lost, or damaged.

This is a supplemental insurance policy that is secondary to other insurance policies that you may have. Coverage is provided after other available insurance policies including any mobile phone, homeowners, or renters insurance are exhausted. The policy does not cover cosmetic damage, cracked screens, or scratches unless it affects your phone’s functionality.

Extra Active Cash Card Perks

. Free Auto Rental Collision Damage Coverage – Get collision coverage for your car rental when the transaction is paid using the Wells Fargo Active Cash card. You must decline rental coverage from the rental company. This insurance is secondary to your primary auto insurance coverage.

  • Roadside Dispatch – Pay a pre-negotiated rate for towing, tire changes, jump starts, fuel delivery, and lockout service
  • Travel and Emergency Assistance Service – When assistance is needed while traveling domestically or abroad, you can call the Visa Benefit Administrator line 24 hours a day, 365 days a year. You will be connected to the appropriate local emergency and assistance services. Available services include emergency messages, emergency transportation, lost ticket replacement, medical and legal referrals, lost luggage locator, prescription assistance, and more. You will have to pay the cost of the service, but the assistance service helps you navigate the local intricacies to get the help you need
  • 24/7 Concierge Service – Get help finding tickets to sports and entertainment, and book travel and dinner reservations with the complimentary Visa Signature Concierge
  • Visa Signature Luxury Hotel Collection – Get the best rates, room upgrades, free in-room WiFi, complimentary breakfast, late checkout, and food or beverage credits at participating hotels

Wells Fargo Active Cash FAQs

What is the minimum credit limit on the Wells Fargo Active Cash?

According to Wells Fargo, the minimum credit limit for an Active Cash card is at least $1,000. Anyone approved for the card can expect a credit limit of $1,000 or more.

Applicants with strong credit scores and higher incomes are likely to be given limits that are more than the minimum.

The credit limit allocated to you initially is not set in stone. Wells Fargo will periodically evaluate your usage of the card and you may be eligible for a credit limit increase. You can improve the chances of a credit line increase by keeping your income updated with Wells Fargo, paying your bills on time, and reducing your credit utilization ratio.

You can also call the customer service number on the back of the card and inquire about an increase. Customers who have other Wells Fargo credit cards may also re-distribute their credit limits among their cards by calling customer service.

What credit score is needed to be approved for the Active Cash card?

You will need a credit score that is considered Good to qualify for the Wells Fargo Active Cash credit card. A 670 credit score should be the minimum and 700 or higher is recommended.

While the credit score is one of the main factors issuers use to determine whether you’d be a good applicant, other qualifications can affect the chances of being approved for a credit card. These may include your income, existing credit utilization, recent credit inquiries, and even if you’ve opened another credit card with Wells Fargo recently.

What is the grace period for the Active Cash credit card?

According to the terms, the grace period for the Wells Fargo Active Cash is 25 days after the close of the billing period.

Pay off the entire balance before the due date shown on the monthly statement and you will not be charged any interest on your purchases.

How do you reach Wells Fargo Active Cash customer service?

The best way to reach customer service as a Wells Fargo credit card customer is by phone at 1-800-642-4720 or online. You can also contact them by mail. You can find all this information on the Wells Fargo contact us page too.

Phone: You can find the phone number on the back of your credit card. If you do not have the card available, contact Wells Fargo customer service for credit card customers by phone at 1-800-642-4720. For international callers, the number is 1-925-825-7600.

To check the status of your application for Wells Fargo Visa credit cards, you can call 1-800-967-9521.

The number to redeem your cash rewards by phone is 1-877-517-1358.

Other numbers for Visa card benefits such as trip cancellation, cell phone protection, emergency assistance, travel accident claims and more can be found on the Credit Card Help page.

Online: You can find answers to the most popular questions by visiting the Wells Fargo Customer Service webpage.

Mail: The mailing address for credit card-related correspondence is:

Wells Fargo Card Services
P.O. Box 51193
Los Angeles, CA 90051-5493

Closing $ense

The Wells Fargo Active Cash card offers one of the highest percentages for cash back rewards cards at 2% on all purchases with no limits or categories to worry about. Combine that with a redemption threshold of $1 and a welcome bonus of $200 for only $500 in spending makes this a great credit card to apply for.

You can find other cards that offer higher cash back rewards for certain categories if you don’t mind juggling multiple credit cards. But if you want to keep it simple, a 2% unlimited cash back card with no annual fee is a solid choice.

In summary, the Wells Fargo Active Cash gets a Yay .

Read more: A big listing of the best 2% cash back credit cards

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