Credit cards with straightforward unlimited cash-back rewards on all spending have grown in popularity in recent years. One such option is the Wells Fargo Active Cash card, which offers cardholders 2% cash back on eligible purchases with no limits or bonus categories to track. In this blog post, we’ll take an in-depth look at the key features and benefits of the Wells Fargo Active Cash card to help you determine if it makes sense for your needs.
Earning Rates and Rewards
The main draw of the Wells Fargo Active Cash card is its simple 2% flat cash-back rate on all eligible purchases with no caps or bonus spending categories. This includes:
- 2% cash back on purchases like gas, groceries, dining, travel, etc. – there are no purchase categories to track bonus points in.
- Uncapped earnings potential. You can earn 2% cash back indefinitely without ever hitting a maximum rewards limit like some cards impose.
- Cashback is issued as statement credits to your card to offset future purchases. This provides an easy way to spend less when redeeming rewards.
Compared to other 2% cash-back cards on the market, one of the best things about the Active Cash rate is that it applies to all spending – there are no rotating bonus categories you need to keep track of to maximize value. The flat 2% also avoids the potential pitfalls of missing out on extra rewards if your spending doesn’t line up with the current bonus offers.
Additional Card Perks
Beyond the basic 2% cash back on all purchases, the Active Cash card offers some supplementary benefits for added value:
- 0% intro APR on purchases and balance transfers for the first 15 months from account opening (after, a 13.49%-23.49% Variable APR applies). This can save on interest if used strategically for one-time large expenses.
- Cell phone protection covers damage or theft up to $600 per claim and $1,000 per year when paying your monthly cell phone bill with the credit card.
- optional 300,000 bonus Points Welcome Offer when spending $3,000 in the first 6 months.
- access to Wells Fargo online tools for spending tracking and mobile payments with Google/Samsung Pay.
While these extra perks are not core to the card’s cash-back functionality, they provide supplemental savings and protections for both regular spending and larger qualifying expenses over time.
No Annual Fee
Unlike some other premium flat rate or rotating category cash back cards, the Active Cash has no annual fee attached. Avoiding an annual fee means you never have to worry about weighing the fee cost versus the total rewards potentially earned.
Additionally, there are no foreign transaction fees charged when using the card abroad. This makes it easy to earn 2% cash back worldwide without extra costs cutting into your rewards.
The lack of an annual fee and foreign transaction charges position the Active Cash card as a very accessible option for casual users and travelers alike who want easy unlimited rewards without commitment costs.
Applying for the Card
To apply for the Active Cash card, you will need to provide basic personal identification and income/debt details:
- Full name, date of birth, and SSN
- Residential address history for the past 2 years
- Current employer name and time employed
- Annual personal income from all sources
Wells Fargo will then perform a “soft” credit check to evaluate your request based on factors like credit history payment behavior, account details, and debt-to-income ratios before rendering an instant approval decision.
If approved, the initial credit limit could range between $300-$1000 depending on your individual profile. Be aware lower limits may rise over time with on-time payments and responsible credit usage.
Redeeming and Using Rewards
Once earned, Active Cash rewards can be redeemed in a few convenient ways:
- Statement Credits – Opt to automatically apply cashback as credits on future purchases made with the card. The dollar amount will appear as a statement credit.
- Direct Deposit – Request to have cash back proceeds deposited directly into your eligible Wells Fargo checking or savings account.
- Gift Cards – Select popular gift cards from brands like Amazon, Uber, and more in $25 denominations.
To use rewards, just log into your online account and select the “Redeem Cash Rewards” option before your next statement cuts. Credit redemptions typically take 1-2 billing cycles to fully reflect.
Wells Fargo also allows combining earnings across multiple Wells Fargo rewards cards for bigger redemptions or saving over time for higher value redemptions.
Strong Online Account Tools
One advantage of the Wells Fargo Active Cash is the extensive online account tools available for easy spending management:
- Detailed transaction history with merchant names and categories.
- View up to 18 months of statements electronically.
- Configure spending alerts by amount and category via text or email.
- Set personalized spending limits for added budget control.
- Apply for increased credit limits online with a soft credit check over time.
- In-app payments let you pay multiple cards or accounts at once from mobile phones.
The rewards tracking and spending control features are competitive with other top-tier cash-back cards. Having robust online access through a computer or Wells Fargo’s mobile app adds convenience.
Best Uses Cases for the Active Cash Card
While the Active Cash card works well for general spending due to its simple universal 2% cash back, some use cases that may maximize its value include:
- Everyday Expenses – Recurring bills, groceries, gas, shopping, and dining all earn 2% back with no effort.
- Large Purchases – Use the intro 0% APR for up to 15 months on high-cost items to skip interest and earn rewards.
- Mobile Payments – Attach the card to Google/Apple Pay and Samsung Pay for 2% back on contactless in-store purchases.
- International Travel – Use the card abroad without worry of foreign transaction fees cutting into your 2% earnings.
- Bonus Rewards – Consider meeting spending thresholds to earn an additional 300,000 bonus points or pairing with other Wells Fargo cards.
The flexibility of Active Cash’s rewards program ensures it provides ongoing value for various personal and business expense categories without limitations or rotating categories to track over time.
Downsides to Consider
Naturally, no credit card is perfect and there are a few potential downsides to Active Cash:
- No-Intro Bonus – Other similar 2% cards like the Citi Double Cash may offer a larger sign-up bonus of $200 cash back for spending $1,000 in 3 months.
- Average Credit Limits – Starting limits are moderate and may limit the ability to build credit rapidly versus more premium rewards cards.
- No Premium Perks – There are no luxury travel or purchase protections often found on travel reward cards or cards with annual fees.
- Limited Partner Offers – Rewards cannot be earned at as many merchant partners compared to branded store cards.
But overall these are fairly minor tradeoffs considering the Active Cash card’s universally simple 2% cash back structure on all purchases without annual fees or other catches. For many users, the value likely outweighs perk shortcomings.
Should You Get the Active Cash Card?
In summary, the Wells Fargo Active Cash credit card stands out as a strong choice for anyone wanting an easy all-purpose rate cash back card without annual fees or other complications. Here are a few key factors to weigh:
- Uncomplicated 2% cash back on all spending fits casual users best. No categories to track quarterly.
- Paying bills on time and keeping modest credit utilization maximizes credit line growth over time.
- Large one-time purchases may benefit from the intro 0% APR window for interest avoidance.
- Minimal annual fees and foreign transaction fees let the card work anywhere abroad or at home for pure spending rewards.
For consistent spenders who seek simple rewards without costs, the Active Cash card delivers reliable value over time. Its benefits align well for rotating through daily, monthly, and annual expenses of all types for unrestricted 2% cash back. Users comfortable with average credit lines should find enough purchasing power to meet their needs. Overall it represents an accessible all-purpose cash-back option.