Quicker highlights
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Rewards rate: 1.8 percent cash rewards on digital wallet purchases including Google Pay or Apple Pay during the first 12 months from account opening. Earn unlimited 1.5 percent cash rewards on purchases.
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Welcome offer: Earn a $150 cash rewards bonus after spending $500 on purchases in the first three months
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Annual fee: $0
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Purchase intro APR: 0 percent intro APR for 15 months from account opening
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Balance transfer intro APR: 0 percent intro APR for 15 months on qualifying balance transfers
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Regular APR: 14.49 percent to 24.99 percent variable
Current welcome offer
This Wells Fargo credit card offers a $150 cash rewards bonus when you spend $500 on purchases within the first three months. While a sign-up bonus is always welcome (especially considering a few flat-rate cards come with no sign-up bonus), a $150 bonus falls short of the bonus you’ll find on many no-annual-fee cash back cards, including the Blue Cash Everyday® Card from American Express and Bank of America® Customized Cash Rewards credit card, all of which are currently higher bonuses.
Cash rewards back
Without a doubt, the most appealing part of the Wells Fargo Cash Wise Visa is its simplicity. The cash back rewards program is easy to understand and straightforward, so you can swipe and earn without a second thought. For cardholders who value ease of use, this could make up for the average rewards rate.
Earning cash rewards back
You’ll earn unlimited 1.5 percent cash rewards back for every dollar spent, with no need to track or activate bonus categories. Keep in mind, however, that you can only earn rewards on purchases and not late fee payments nor qualifying balance transfers. If you like to use Google Pay or Apple Pay, you’re in luck, as you’ll earn 1.8 percent cash rewards back on purchases during your first 12 months as a cardholder.
Redeeming cash rewards back
Redeeming your cash rewards is just as straightforward. Once you’ve earned your cash rewards, you can withdraw your earnings from a Wells Fargo ATM (in $20 minimum increments), have the earnings deposited directly into your Wells Fargo checking or savings account or even have the earnings applied to your mortgage principal as a credit if you have a qualified Wells Fargo mortgage. This nice variety of redemption options also helps make up for the average rewards rate.
Benefits
The Wells Fargo Cash Wise Visa benefits extend beyond the cash back on purchases. You’ll enjoy other perks such as these benefits:
FICO score access
As a Wells Fargo cardholder, you have free, instant access to your FICO score, making it a little bit easier to monitor your credit standing.
Rewards program
You can really stretch the flexibility of the rewards you earn with the Wells Fargo Cash Wise card by also enrolling in the Wells Fargo Rewards program. This is a loyalty rewards program for certain Wells Fargo cardholders, and the Wells Fargo Cash Wise Visa is an eligible card. Enrolling in the Wells Fargo Rewards program allows you to redeem not only as cash back but also for gift cards, travel certificates and more.
Cellphone protection
If you use the Wells Fargo credit card to pay your cellphone bill, you receive additional protection against theft or damage. This is an up to $600 maximum benefit (after a $25 dollar deductible) that is paid out after your other cellphone insurance options have been exhausted.
Rates and fees
The Wells Fargo Cash Wise Visa offers a 15-month 0 percent introductory APR for both purchases from account opening and qualifying balance transfers. After the first 15 months, the APR is variable and increases to between 14.49 percent and 24.99 percent, depending on your credit rating. Introductory balance transfers are subject to a minimum of $5 or 3 percent of the transfer total for 120 days from account opening. After that, the fee is up to 5 percent for each balance transfer, with a minimum of $5.
The Wells Fargo Cash Wise credit card currently charges no annual fee. But if you think you might use this credit card while traveling overseas, you should be aware of the 3 percent foreign transaction fee.