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Wells Fargo Active Cash℠ Credit Card review

This new 2% cashback card has no annual fee and is a rare find among cashback cards.

  • Get this card if you want to earn 2% back on all purchases and enjoy additional perks like cell phone protection and an introductory APR on purchases or balance transfers.
  • Pick something else if you want a category cashback card that earns bigger in select categories.
  • Apply with a good to an excellent credit score of 670 or higher.
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$200

Welcome offer

Up to 2%

Cash back

$0

Annual fee

0%

Intro purchase APR

for the first 15 months (then 14.99% 19.99% or 24.99% variable)

Details

Annual fee$0
Welcome offer$200 after spending $1,000 in the first 3 months
RewardsUnlimited 2% cash back on purchases
Purchase APR0% intro for the first 15 months (then 14.99% 19.99% or 24.99% variable)
Balance transfer APR0% intro for the first 15 months (then 14.99% 19.99% or 24.99% variable)
Minimum Credit Score670
IssuerVisa

Review by


Steven Dashiell is a writer at Finder specializing in all things credit cards. With more than 300 articles under his belt, he aims to help readers embrace credit cards and maximize their rewards. Steve is studying to become a Certified Educator in Personal Finance, and is a frequent face on Finder’s YouTube channel, offering the latest in credit card hacks and advice. His expertise has been featured on numerous outlets, including U.S. News & World Report, Time, CBS, Fox Business, Lifehacker, Martha Stewart Living and more.

Expert review

The Wells Fargo Active Cash℠ Credit Card is the first step in Wells Fargo’s renewed focus on their credit card lineup through 2022. It may well be your best bet for earning unlimited flat cashback on your purchases. It has no annual fee and earns an unlimited 2% cash back on all purchases. It comes with a $200 signup bonus after you spend $1,000 in purchases within your first 3 months, and a 0% intro APR on purchases and eligible balance transfers for 15 months, reverting to 14.99% 19.99% or 24.99% variable APR.

The Wells Fargo Active Cash℠ Credit Card is a welcome addition to not just Wells Fargo’s card lineup, but the credit card market as well. A 2% cashback card has been traditionally a rare find among cashback cards for good reason: they’re often outright better than 1.5% cashback cards.

The Active Cash Card stands toe-to-toe with the leading 2% cashback card on the market, the Citi® Double Cash Card. It flat out earns 2% on purchases, rather than splitting your earnings across purchases and paying your balance. While the Citi Double Cash offers an intro APR period of 18 months, the Active Cash Card has a few features the Citi Double Cash doesn’t, like its signup bonus and cell phone protection. As such, the Active Cash Card just edges out the Double Cash as our recommended choice for 2% cashback credit card.

How to apply for the Wells Fargo Active Cash℠ Credit Card

You can apply for the Active Cash Card by doing the following.

  1. Go to the Wells Fargo website.
  2. At the top menu bar, hover over Banking and credit cards and click Credit cards from the drop down menu.
  3. Scroll down to the Wells Fargo Active Cash℠ Credit Card and click Next step: apply.
  4. Fill out the requested information and click Submit.

Wells Fargo Active Cash℠ Credit Card benefits

  • Earn cashback. You’ll earn 2% cash back on all eligible purchases using this card. Unlike a few other 2% cashback cards on the market, there isn’t a condition for earning 2%, such as depositing the cash back into a Wells Fargo banking account.
  • Signup bonus. You can earn $200 after you spend $1,000 in purchases on your card within your first 3 months of account opening. This card’s biggest competitor, the Citi® Double Cash Card, has no signup bonus as of June 2021.
  • Intro APR on purchases and balance transfers. This card comes with 15 months 0% intro APR on purchases and balance transfers. After your intro period ends, the APR reverts to a variable 14.99% 19.99% or 24.99% APR. Having both types of intro APR on this card offers some excellent flexibility for saving money on interest, whether on new purchases or an existing debt.
  • No annual fee. You won’t pay an annual fee to use this card.
  • Cell phone protection. Pay your monthly cell phone bill with your card and you’ll enjoy cell phone coverage of up to $600 per claim, a maximum of two claims per 12-month period.

Wells Fargo Active Cash℠ Credit Card drawbacks

  • Foreign transaction fees. Purchases you make abroad will incur a 3% fee per transaction.
  • Balance transfer fees. While the card comes with a balance transfer offer, you’ll still need to pay the greater of $5 or 3% of your transferred balance.

Compare 2% cash back credit cards

Here are other similar 2% cash back credit cards to compare to help you find the best card that suits you.

Name Product Welcome Offer Rewards Annual fee Filter values
Citi® Double Cash Card
N/A
Up to 2% cash back on purchases (1% when you buy plus 1% as you pay)
$0
Earn up to 2% on every purchase with no annual fee. This is the highest flat-rate cashback card on the market.
SoFi Credit Card
$100 when you open and fund a SoFi Money and a SoFi Invest account after getting approved
2% cash back on eligible purchases when redeemed towards SoFi crypto, investing, saving, or paying down an eligible loan with SoFi
$0
Designed for those who bank with SoFi, this card can earn an impressive $100 cashback on all purchases when you redeem on eligible SoFi crypto, investing, savings or loans.
TD Double Up℠ Credit Card
$150 cash back in the form of a statement credit when you spend $1,000 within the first 90 days after account opening
Up to 2% cash back. 1% cash back on purchases plus 1% when you redeem into an eligible TD Bank Deposit Account
$0
Earn up to 2% cash back. 1% cash back on purchases plus 1% when you redeem into an eligible TD Bank Deposit Account. Available in: CT, DC, DE, FL, MA, MD, ME, NC, NH, NJ, NY, PA, RI, SC, VA, VT
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Wells Fargo Active Cash℠ Credit Card reviews and complaints

The Wells Fargo Active Cash℠ Credit Card has yet to receive customer reviews as it has only recently launched.

Wells Fargo is not accredited with the Better Business Bureau and is not rated with the organization as of August 2021. On Trustpilot, the bank sports a 2.3 out of 5 rating based on customer reviews as of August 2021, with some complaints pointing to poor customer service.

Bottom line

The Wells Fargo Active Cash℠ Credit Card is just the start of the bank’s renewed focus on their credit card lineup and if the rest of their lineup is as quality as this card, there should be a lot to get excited about heading into 2022. For the time being, the Active Cash Card should be one of your first picks when it comes to an unlimited 2% cashback credit card.

If an unlimited cashback card isn’t what you need however, you can compare more cashback cards to find one that best suits your preferences.

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