Wells Fargo Cash Wise Visa® Card review
A 1.5% cashback card with a long intro APR period on purchases and balance transfers.
finder.com’s rating: 4.6 / 5
- Get this card if you want to earn cash back and pay no annual fees.
- Pick something else if you’re looking for a higher cash back rate on specific categories.
- Apply with a good to excellent credit score of 670 or higher.
Up to 1.5%
Intro purchase APR
for the first 15 months (then 14.49% to 24.99% variable)
|Welcome Offer||$150 after spending $500 in the first 3 months|
|Rewards||1.5% cash back on all purchases|
|Purchase APR||0% intro for the first 15 months (then 14.49% to 24.99% variable)|
|Balance transfer APR||0% intro for the first 15 months (then 14.49% to 24.99% variable)|
|Recommended minimum credit score||670|
Kliment Dukovski is a credit cards and investments writer. He's written over 600 articles to help readers find and compare the best credit cards. Kliment has also written on money transfers, home loans and more. Previously, he ghostwrote guides and articles on foreign exchange, stock market trading and cryptocurrencies.
The Wells Fargo Cash Wise Visa® Card is a simple but solid credit card that comes with unlimited 1.5% cash back on all purchases. It also has no annual fee, offers a $150 cash bonus after you spend $500 within your first 3 months, and an intro 0% APR on purchases and balance transfers for 15 months, reverting to 14.49% to 24.99% variable after. As an additional, perk, if you use Apple Pay or Android Pay on purchases during your first year you’ll earn 1.8% instead of 1.5%.
While the opportunity to earn 1.8% back on digital wallet purchases is nice, the main draw of this card is the intro APR on purchases and balance transfers. Providers greatly scaled back their balance transfer offers in 2020, so the fact that the Wells Fargo Cash Wise Visa® Card has not just a balance transfer offer, but a purchase intro APR to boot makes this card a solid value play for saving on interest. The rewards and signup bonus are the cherry on the top.
Wells Fargo also offers a few insurance options on the card, including cell phone protection and auto rental collision damage coverage. There’s are nice bonuses that you’d typically find on a more travel-oriented card. Overall, the Wells Fargo Cash Wise Visa® Card is a more than solid offering, particularly if you want the flexibility of an intro APR on purchases and balance transfers.
How to apply for the Wells Fargo Cash Wise Visa® Card
- Visit Wells Fargo website and select the Wells Fargo Cash Wise Visa® Card from the list of cash back cards. Click Apply now.
- If you’re an existing Wells Fargo customer, enter your login details. Or click Continue.
- Fill out the form with your personal and financial information.
- Review the application and submit it.
What to know before you apply
To apply for the Wells Fargo Cash Wise Visa® Card, you must be at least 18 years old and a US citizen or resident.
You’ll need to provide details, such as:
- Your full name and contact information.
- Date of birth and Social Security number.
- Employment status and gross annual income from all sources.
At this point, you can add an authorized user or request a balance transfer.
What credit score do I need?
You have a better chance of application approval with a credit score of 670 or higher. Also, you can get a lower APR and a higher credit line with a better credit score.
How long will it take to get my Wells Fargo Cash Wise Visa® Card?
Usually, you get a decision within a minute of submitting your application. If additional information is required it could take a few business days up to a few weeks to receive a decision. Upon approval, you’ll get your card in seven to 10 business days by mail.
Wells Fargo Cash Wise Visa® Card benefits
- Signup bonus. Earn after spending $500 within the first 3 months from account opening. Redeem the bonus within one to two billing cycles after the first 3 months have passed.
- Earn cash back. Earn unlimited 1.5% cash back on all purchases. If you use the Android Pay or Apple Pay mobile wallet, you’ll earn 1.8% cashback for the first 12 months of card membership. You can choose from several ways to redeem your cashback rewards, including, withdrawing cash in $20 increments, deposit into Wells Fargo account, or apply the rewards as a credit to your qualified Wells Fargo mortgage principal.
- Intro APR period. Get a 0% intro APR period on purchases and balance transfers for 15 months following your account opening. After that, a variable APR of 14.49% to 24.99% will apply. This could be useful if you’re looking to make a large purchase or if you want to transfer your balance from another account.
- No annual fee. All of the cash back you earn will be a bonus, as you’ll pay no annual fee to own the card.
- Fraud monitoring and zero liability. Report your unauthorized transactions to Wells Fargo and you won’t be held liable. Also, the bank monitors accounts 24/7 for suspicious activity.
- Cell phone protection. Use this card to pay for your monthly cell phone bill and receive Wells Fargo phone protection of up to $600 against damage and theft, with a maximum of two claims per year.
- Car rental insurance. Get auto coverage against theft and collision damage when you pay for your car rental with your card.
Wells Fargo Cash Wise Visa® Card drawbacks
- Foreign transaction fees. For each transaction you make when traveling abroad, you’ll pay a 3% fee. It may not seem like much, but it can quickly add up over a trip spanning several days.
- Late payment fees. Try to make your payments on time, otherwise, you’ll pay up to $40 for late and returned payments. On the positive side, there’s no penalty APR. Other cards have a penalty APR of up to 30% that can last indefinitely.
Compare similar cashback credit cards
You can compare the Wells Fargo Cash Wise Visa® Card against more cashback credit cards on the market by selecting up to four cards and clicking Compare.
Wells Fargo Cash Wise Visa® Card reviews and complaints
Most complaints relate to the long waiting time to get your signup bonus — up to two billing cycles after the first 3 months have passed. Also, some customers complained about the low credit limit they received. But overall, most customers consider this a decent cashback card.
The Better Business Bureau has yet to rate or accredit Wells Fargo. The bank sports a 2.5 out of 5 on TrustPilot as of April 2021,
I got the card. Now what?
- Download the Wells Fargo Mobile app. To monitor your account, pay your bills, access your FICO® score and more.
- Transfer your balance if you haven’t already. If you want to take advantage of the balance transfer offer and haven’t already transferred your debt, you can call Wells Fargo to initiate the transfer.
- Add your card to a digital wallet. Making payments with your card on an eligible digital wallet will allow you to earn 1.8% back on purchases during your first year.
- Setup autopay. 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.
- Review your insurance perks. Review your cell phone and car rental protections to stay prepared in the event you need them.
The Wells Fargo Cash Wise Visa® Card is a simple credit card that helps you save on interest while netting you some solid cash back after your intro period ends. If you’re looking for a card with bigger cash back opportunities or greater potential savings on interest though, check out other cashback credit cards and balance transfer cards before you apply for this one to get the best fit for your financial needs.
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