Is the Wells Fargo Cash Wise Visa® Card worth it? | April 2018
wells fargo cash wise visa review

Review: Wells Fargo Cash Wise Visa® Card – April 2018

A no-annual-fee cash back card that comes with a 12-month 0% APR offer on purchases and transfers.

  • Get this card if … you want to earn cash back and pay no annual fees.
  • Pick something else if … you want travel rewards or better points to dollars.
  • Good to excellent credit score of 690 to 850 recommended.

The basics

This Wells Fargo credit card has no annual fee, comes with a 0% intro APR for 12 months and could earn you 1.5% unlimited cash back on purchases. If you spend $1,000 on purchases within the first three months you receive a cash reward bonus of $200.

The nuts and bolts

Product nameCash Wise Visa® Card
Issuing BankWells Fargo
Recommended credit score range690–850 (good to excellent)
Annual fee$0
Signup bonus$200 cash rewards bonus when you spend $1,000 in the first 3 months
Purchase APR13.99%–25.99% variable
Intro Purchase APR0% for 12 months, 13.99%–25.99% variable thereafter
Intro balance transfer APR0% for 12 months, 13.99%–25.99% variable thereafter
Balance transfer fee
  • $5 or 3% of the transaction, whichever is greater, for the first 12 months
  • $5 or up to 5% of the transaction, whichever is greater, thereafter
Foreign transaction fee3% of the transaction in US dollars
Cash advance rate24.99%–26.99% variable
Cash advance fee$10 or 5% of the transaction, whichever is greater
Penalty APRN/A
Late payment feeUp to $37
Returned payment feeUp to $37
Overlimit fee
  • $12.50 if the total overdraft protection advance for the day is $50 or less
  • $20 if the total overdraft protection advance for the day exceeds $50
Maximum credit limitNone
Minimum interest charge13.99%

The perks

          • Bonus reward. You’ll qualify for the $200 cash rewards bonus if you spend $1,000 on purchases in the first three months. The bonus becomes redeemable within one to two billing cycles from when it is earned.
          • Earn cash rewards. The card comes with 1.5% unlimited cashback on purchases. If you use the Android Pay or Apple Pay mobile wallet, you’ll earn 1.8% cashback for the first 12 months. There are no category restrictions or minimum quarterly spend requirements.
          • Redeem rewards. You may use your Wells Fargo ATM or debit card to withdraw cash rewards in $20 increments, or you can walk into a branch for cash redemption. Direct deposits will get your rewards to your Wells Fargo savings or checking account. Another option is to apply the rewards as a credit to your qualified Wells Fargo mortgage principal.
          • Low intro APR. A 0% intro APR on purchases and balance transfers stays in place for the first 12 billing cycles.

You’ll also like…

          • No annual fees. You’ll pay no annual fees for the life of the card.
          • Cell phone damage and theft coverage. You’ll receive protection of up to $600 for your phone against damage and theft, with a maximum of two claims per year, provided you use this card to pay your monthly cellphone bill.
          • Security. This chip-enabled card comes with rapid alerts, 24/7 fraud monitoring and zero liability protection.

What to watch out for

          • Foreign transaction fees. If you use this card outside the US, you’ll pay 3% of your transaction in fees.
          • Limited intro APR. Once the intro APR offer expires, you’ll pay interest on all outstanding balances from purchases and balance transfers.
          • Fees and penalties. Late and returned payments can set you back by up to $37. Balance transfers, cash advances and overdraft protection advances come with fees as well.

Consider other cards if …

  • You want greater variety in rewards. You can find cards that come with airline rewards, hotel perks, gas rewards and even combinations of spending options.
  • You don’t want to pay foreign transaction fees. If you plan to use your new card overseas, you might be better off getting one that comes with no foreign transaction fees.

    What to know before you apply

    To apply for the Wells Fargo Cash Wise Visa Card, you’ll need to be:

                    • At least 18 years old.
                    • A citizen or resident of the US.

    Always consider your options and your financial situation before you apply for a credit card.

    Information you’ll need

    To complete your application, you’ll need to provide your:

                    • Full name, personal contact information and Social Security number.
                    • Housing status and monthly rent or mortgage payments.
                    • Employment status and gross annual income from all sources.

    What credit score do I need?

    You have a better chance of application approval with a credit score of 690 or higher.

    How to apply for the card

    1. On the Wells Fargo Cash Wise Visa Card website, click Apply Now.
    Wells Fargo Cash Wiise Visa Card
    2. If you’re an existing Wells Fargo customer, enter your log in details. Or click Continue.

    Get Started3. Provide the information needed to complete your application.

    Enter your information

    Social security number

    Financial Information

    Email terms and conditions 4. Make sure the information you’ve provided is correct and click Submit.

    How long will it take to be approved?

    You’ll find out about your application’s conditional approval almost as soon as you submit it online.

    I got the card. Now what?

                    • Avoid interest. Make sure that you understand when your intro APR expires. Paying off your outstanding balances from purchases and balance transfers before this happens can help you avoid unnecessary interest.
                    • Contact customer service. For support, call 1-800-642-4720. Or contact the bank via Twitter @WellsFargo or Facebook @WellsFargo.

    Bottom line

    This decent card comes with a flat 1.5% cash back and no annual fees. The 0% intro APR is a perk if you’re planning a big purchase. But if you’re looking for an array of rewards for your spending, you might want to compare other options.

    Common questions about the Wells Fargo Cash Wise Visa Card

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