Wells Fargo Rewards Card

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The intro rewards are nice, but you'll probably score better ongoing rewards elsewhere.

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The Wells Fargo Rewards Card isn’t a bad choice for a new credit card, it just may not be your best one. The sign-up offer is a solid mix of 0% APR on purchases and balance transfers and bonus points. The card also gives wide latitude in how you can redeem your points, from travel, gift card or cash.

But it falls well short of other credit cards when it comes to ongoing rewards.


The Wells Fargo Rewards Card has a few snazzy attributes that may initially catch your eye. With no annual fee and an introductory 0% 12-month APR offer on purchases and balance transfers, plus a 20,000 point sign-up bonus worth about $200, at first glance the card seems enticing. Heck, it even offers 5x points for the first six months on up to $12,500 spent for gas, grocery and drugstore spending. But dig a little deeper and you can find similar cards that offer better value.

There are a lot of rewards cards out there. Some with rotating categories and some with flat cash-back payouts. If you’re looking for a credit card to keep using after the tempting introductory period, you’re probably going to find one that has better long-term value than the Wells Fargo Rewards Card.

In fact, after the intro period expires the 1x points on all spending is actually pretty mediocre.

Who should own this card

This card is best for someone who can maximize the introductory offer of unlimited 5x points on every $1 spent in the first six months in gas, grocery and drugstore spending. If you have some big purchases coming up in one of those categories and you can combine it with the 12-month 0% APR purchase offer, you might score yourself some serious savings.

  • The $200 bonus is relatively easy to earn with a $1,000 spending requirement in three months.
  • The introductory rewards are quite good.
  • There’s no fee to own the card.
  • Other rewards cards might net greater value depending on your spending habits.
  • Unused points expire after 5 years.
  • There's a foreign transaction fee of 3%, making this card a poor choice for international travel.
  • The balance transfer fee can eat away at your savings on interest.

Fees and APR

• There’s a 0% 12-month introductory APR offer on purchases and balance transfers. After that, it’s a variable 18.15% to 26.99%.
• There’s no annual fee.
• There’s a balance transfer fee of 3%.
• Late payments won’t affect your APR but you may be subject to a fee of up to $37.
• You’ll pay a 3% foreign transaction fee on all purchases made outside the U.S.

Extras, perks and using points

If you pay your monthly cell phone bill with your Wells Fargo card, you can get up to $600 in protection against damage or theft (minus a $25 deductible).

As a Visa Signature card, it includes benefits like car rental and luggage insurance and hotel perks at Visa Signature luxury properties.

To use your rewards, log into your account with Wells Fargo. You can redeem your points for travel, gift card, Wells Fargo online auctions, digital downloads or cash-back. There’s no fee to redeem your rewards and there’s no minimum amount required.

How this card compares

Wells Fargo Cash Wise Visa® Card
Card Details
  • Earn a $200 cash rewards bonus after spending $1,000 in the first 3 months
  • Earn unlimited 1.5% cash rewards on purchases
  • Enjoy 1.8% cash rewards on qualified mobile wallet purchases, like Apple Pay® or Android Pay™, during the first 12 months from account opening
  • No category restrictions or sign ups and cash rewards don't expire as long as your account remains open
  • Get up to $600 protection on your cell phone (subject to $25 deductible) against covered damage or theft when you pay your monthly cellular telephone bill with your Wells Fargo Cash Wise Visa® Card
  • 0% Intro APR for 12 months on purchases and balance transfers, then a 13.99%-25.99% variable APR; balance transfer fees apply
  • $0 Annual Fee
  • Select "Apply Now" to learn more about the product features, terms, and conditions
Credit Needed Good
Regular APR 13.99%-25.99% (Variable)
Annual Fee $0
Purchase Intro APR 0% for 12 months
Balance Transfers Intro APR 0% for 12 months

If you’re already doing some banking here, the Wells Fargo Cash Wise Visa Card could be a nice addition to your wallet. We love the seamless transfer of rewards to your account, via ATM or to pay your mortgage. It has a shorter introductory offer on purchases and balance transfers, but it also pays cash back on every purchase. This could make it a better option long-term once the intro period expires.

Blue Cash Preferred® Card from American Express
Card Details
  • $200 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months.
  • 6% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%) - that means spending $60 a week at U.S. supermarkets could earn over $180 back per year.
  • 3% cash back at U.S. gas stations and at select U.S. department stores, 1% back on other purchases.
  • Low intro APR: 0% for 12 months on purchases and balance transfers, then a variable rate, currently 13.99% to 24.99%.
  • Expanding merchant acceptance: Over 1 million more places in the U.S. started accepting American Express® Cards in the last year.
  • $95 annual fee.
  • Cash back is received in the form of Reward Dollars that can be easily redeemed for statement credits, gift cards, and merchandise.
  • Terms Apply.
  • See Rates & Fees
Credit Needed Excellent
Regular APR 13.99%-24.99% Variable
Annual Fee $95
Purchase Intro APR 0% on Purchases for 12 months
Balance Transfers Intro APR 0% on Balance Transfers for 12 months

Depending on your spending habits, the Blue Cash Preferred Card from American Express could net you more. This card earns 6% back at supermarkets up to a $6,000 cap then it drops to an unlimited 1% back. It also pays an unlimited 3% back on gas and select department stores and a flat 1% on all other spending. The card charges a $95 annual fee.

Card Details
  • Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening
  • Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate
  • Enjoy new 5% categories each quarter like gas stations, restaurants and drugstores
  • Unlimited 1% cash back on all other purchases - it's automatic
  • 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 15.99-24.74%. Balance transfer fee is 5% of the amount transferred, $5 minimum
  • No minimum to redeem for cash back
  • Cash Back rewards do not expire as long as your account is open
  • No annual fee
Credit Needed Good
Regular APR 15.99% - 24.74% Variable
Annual Fee $0
Purchase Intro APR 0% for 15 months
Balance Transfers Intro APR 0% for 15 months

The Chase Freedom card is fee-free and offers rotating bonus categories that pay 5% back, with a cap of $1,500 in each category and an unlimited 1% back on everything else. You also have to sign-up each quarter to get the bonus.

Citi® Double Cash Card
Card Details
  • Earn cash back twice on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
  • Balance Transfers do not earn cash back
  • 0% Intro APR on Balance Transfers for 18 months. After that, the variable APR will be 14.49% - 24.49% based on your creditworthiness
  • Click 'Apply Now' to see the applicable balance transfer fee and how making a balance transfer impacts interest on purchases.
  • No categories to track, no caps on cash back, no annual fee*
Credit Needed Excellent
Regular APR 14.49% - 24.49%* (Variable)
Annual Fee $0*
Purchase Intro APR N/A
Balance Transfers Intro APR 0% for 18 months*

When it comes to rewards value, the Citi Double Cash Card ranks among the very best cash-back credit cards that charge no annual fee.

So why, you might ask, does this card not receive a higher score from Bankrate? There are a couple reasons, but the main thing dragging this card down is this: Because Citi Double Cash offers no sign-up bonus, it struggles to compete with many cards in this category.

Longer-term, the Citi Double Cash Card may earn you more rewards. The card earns an unlimited 1% cash back when you make a purchase and another 1% back when you pay for those purchases. Big spenders may find this nets more cash-back overall as there’s no ceiling on what you can earn back.


Opinions expressed here are author's alone, not those of any bank, credit card issuer, airlines, or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.