Best Wells Fargo Credit Cards of 2020

Best Wells Fargo Credit Cards of 2020

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Of the major consumer banks, Wells Fargo is one of the least established in the rewards credit card world. With the revamped Wells Fargo Propel American Express® card, however, the bank is quickly becoming one of our favorite issuers. Continue reading below for a detailed look at the benefits and features of each card.

Best Wells Fargo Credit Card for Most People: Wells Fargo Propel American Express® card

The Wells Fargo Propel American Express® card is one of our favorite rewards credit cards. For a $0 credit card, you'll Earn 3X points on eating out, ordering in and popular streaming services, 3X points on gas stations, rideshares and transit, and 3X points on travel including flights, hotels, homestays and car rentals. Earn 1X points on other purchases.

Comprehensive Reward Categories

With the Wells Fargo Propel American Express® card, you'll Earn 3X points on eating out, ordering in and popular streaming services, 3X points on gas stations, rideshares and transit, and 3X points on travel including flights, hotels, homestays and car rentals. Earn 1X points on other purchases. If you have even moderate expenses in these areas, the Wells Fargo Propel American Express® card will offer an excellent rewards rate for no annual fee. Other comparable cards charge upward of $100 per year for rewards like this.

Excellent Welcome Bonus

The Wells Fargo Propel American Express® card also offers an extremely competitive welcome bonus for a no-fee card: Earn 20,000 bonus points when you spend $1,000 in purchases in the first 3 months At a value of $200, this is one of the best welcome bonuses available on a card with $0 annual fee.

For rates and fees of Wells Fargo Propel American Express® card, please click here.

Best Flat-Rate Cashback Credit Card from Wells Fargo: Wells Fargo Cash Wise Visa® card

Out of Wells Fargo's limited consumer credit card options, the Wells Fargo Cash Wise Visa® card is the best credit card for people looking for a flat-rate cashback card. The card offers Earn unlimited 1.5% cash rewards on purchases, and has no annual fee. This isn't the highest rewards rate available on a flat-rate cashback card (see below), but it's competitive with offers like the Chase Freedom Unlimited®. You'll also get a decent welcome bonus: Earn a $150 cash rewards bonus after spending $500 in the first 3 months.

Best for People with Varied Expenses

If you have moderate travel or dining expenses, the Wells Fargo Propel American Express® card is the best Wells Fargo credit card for you. However, flat-rate cashback cards like the Wells Fargo Cash Wise Visa® card are great for people who don't spend in those bonus categories or who have unpredictable expenses. You'll Earn unlimited 1.5% cash rewards on purchases, and you won't have to track rotating bonus categories like with the Discover it® Cash Back or Chase Freedom Flex℠.

0% Intro Apr for 15 Months on Qualifying Balance Transfers and Purchases

Another perk of the Wells Fargo Cash Wise Visa® card is its 0% introductory rate on both purchases and qualifying balance transfers for 15 months, after which a higher APR of 14.49%-24.99% (Variable) applies. This is a great benefit for people who want to transfer high-interest debt from another card — or make a big purchase and pay it off in smaller chunks — and also get a card with decent rewards.

For rates and fees of Wells Fargo Cash Wise Visa® card, please click here.

Best Flat-Rate Cashback Card from a Different Bank: Citi® Double Cash Card – 18 month BT offer

Citi® Double Cash Card – 18 month BT offer

  • On Citibank's Secure Website

$0

13.99% – 23.99% (Variable)

Excellent

  • Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
  • To earn cash back, pay at least the minimum due on time.
  • Balance Transfer Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 13.99% – 23.99%, based on your creditworthiness.
  • Balance Transfers do not earn cash back.
  • If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
  • There is a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater.
  • The standard variable APR for Citi Flex Plan is 13.99% – 23.99% based on your creditworthiness. Citi Flex Plan offers are made available at Citi's discretion.
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The Citi® Double Cash Card – 18 month BT offer is one of our favorite cashback credit cards because you can Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. Very few no-annual-fee cashback cards offer a rewards rate higher than 1.5%, so this is an excellent deal.

2% on Everything

Like the Wells Fargo Cash Wise Visa® card, the Citi® Double Cash Card – 18 month BT offer is best for people with varied expenses. Unlike with some other cashback cards, you won't have to activate rotating bonus categories to get a solid rewards rate on your purchases. As long as you pay your bill, you'll earn the full rate of cash back.

No Welcome Bonus

The only notable downside to the Citi® Double Cash Card – 18 month BT offer is that it doesn't come with a welcome bonus. For comparison, the Wells Fargo Cash Wise Visa® card comes with the following bonus: Earn a $150 cash rewards bonus after spending $500 in the first 3 months. However, the Citi® Double Cash Card – 18 month BT offer has better long-term value than the Wells Fargo Cash Wise Visa® card.

Best Balance Transfer and Low Intro APR Card from Wells Fargo: Wells Fargo Platinum card

The Wells Fargo Platinum card is one of the best balance transfer and low APR cards available. It comes with an 18-month introductory 0% APR period for purchases and qualifying balance transfers. If you open the card to make a big purchase or transfer debt from an existing card, be mindful of paying off the balance before the introductory period expires. Otherwise, you'll be stuck paying a high APR of 16.49%-24.49% (Variable) on any remaining balance after the 0% offer ends.

Limited Benefits

The primary reason to open the Wells Fargo Platinum card is for the 0% balance transfer and APR offer. The card offers little else in the way of perks and benefits, and you won't get any rewards on your spending.

For rates and fees of Wells Fargo Platinum card, please click here.

Best Balance Transfer Card from a Different Bank: Discover it® Balance Transfer

Our Thoughts on the Discover it® Balance Transfer

The Discover it® Balance Transfer is a top balance transfer option because it offers spending rewards through an excellent cashback rewards program.

Keep This One in Your Wallet

The Discover it® Balance Transfer is a good card. Like the standard Discover it® Cash Back, the Discover it® Balance Transfer lets you Earn 5% cash back on everyday purchases at different places each quarter like grocery stores, restaurants, gas stations, select rideshares and online shopping, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases - automatically. In the past, these have included Amazon.com, groceries, gas stations, restaurants and others. For 2020, the categories will include grocery stores, Walgreens, and CVS (January-March), gas stations, Uber, Lyft, and wholesale clubs (April-June), restaurants and PayPal (July-September), Best Buy, Amazon.com, Target.com and Walmart.com (October-December). For 2021, the categories include grocery stores, Walgreens and CVS (January-March), gas stations, select streaming services and wholesale clubs (April-June), restaurants and PayPal (July-September), Amazon.com, Target.com and Walmart.com (October-December).

For rates and fees of Discover it® Balance Transfer, please click here.

The information related to the Wells Fargo Propel American Express® card, Wells Fargo Cash Wise Visa® card, Chase Freedom Flex℠ and Wells Fargo Platinum card have been independently collected by ValuePenguin and have not been reviewed or provided by the issuer of this card prior to publication.

Yowana is a former product analyst at ValuePenguin, specializing in credit cards, rewards programs and travel. He previously covered mortgages, banking and insurance for the website. Yowana graduated from Columbia University with a B.A. in Political Science.

These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

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How We Calculate Rewards: ValuePenguin calculates the value of rewards by estimating the dollar value of any points, miles or bonuses earned using the card less any associated annual fees. These estimates here are ValuePenguin's alone, not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

Example of how we calculate the rewards rates: When redeemed for travel through Ultimate Rewards, Chase Sapphire Preferred points are worth $0.0125 each. The card awards 2 points on travel and dining and 1 point on everything else. Therefore, we say the card has a 2.5% rewards rate on dining and travel (2 x $0.0125) and a 1.25% rewards rate on everything else (1 x $0.0125).