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Wells Fargo Cash Wise Visa® Card: Is It A Good Choice?

Wells Fargo Cash Wise Visa® Card: Is It A Good Choice?

The Wells Fargo Cash Wise Visa® is a solid credit card for those with varied spending who are interested in earning good rewards in the long-term.
Editor's Rating: 4.5/5.0
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Editor's Rating

{"onCurrent":true,"message":"Our team rates credit cards objectively based on independent research, the features the credit card offers users, and how it compares with other available cards in its category. The ratings are the opinion of our editors, and are not influenced by any outside factors, including any compensation the site may receive from certain advertisers."}

4.5/5.0

Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews, statements or recommendations expressed in this article are those of the author's alone, and may not have been reviewed, approved or otherwise endorsed by any of these entities prior to publication. This site may be compensated through a credit card partnership.

The Wells Fargo Cash Wise Visa® Card offers 1.5% cash back on all purchases, meaning it offers decent value for consumers who are interested in earning good rewards for the long-term. If you’re looking to score a big signup bonus, the Wells Fargo Cash Wise Visa® Card this card has a solid one -- $200 after you spend at least $1,000 in net purchases within the first 3 months.

Review: Is The Wells Fargo Cash Wise Visa® Card A ‘Best Cash Back’ Contender?

The Wells Fargo Cash Wise Visa® Card is a good credit card for high spenders. It offers a fixed 1.5% cash back rate on all your purchases. Other cards, like the Chase Sapphire Preferred® Card, can give you higher returns in select categories like dining and travel. The Wells Fargo Cash Wise Visa® Card will be better if you spend heavily at different types of stores that don’t fit a single card’s particular reward structure.

Good For…Bad For…
Those who shop at a lot of different storesOptimizers who want to get rewards rates of 2%+
Individuals who spend $50,000+ annually on their credit card

Most of the top cash back credit cards come with signup bonuses -– and the Wells Fargo Cash Wise Visa® Card does as well. Users can get $200 after spending $1,000 on purchases within the first 3 months. Additionally, the card comes with a 1.8% rewards rate on qualified mobile wallet purchases for the first 12 months.

One of the best features on the Wells Fargo Cash Wise Visa® Card is its cell phone insurance. The perk is not unique to this card –- most Wells Fargo credit cards offer the same benefit. Despite this, the benefit is still worth talking about. If you pay your cell phone bill with the Wells Fargo Cash Wise Visa® Card, it will be covered for up to $600 in case your phone is damaged or stolen. If you use that to replace a cell phone company's insurance plan, you can save close to $100 each year.

Bottom Line: The Wells Fargo Cash Wise Visa® Card is a solid card, due to the above average 1.5% cash back rate. If you want to earn a good signup bonus and aren’t a high spender you're more likely to come out ahead with another fixed-rate credit card.

Wells Fargo Cash Wise Visa® Card Benefits & Features

The Wells Fargo Cash Wise Visa® Card has a simple reward structure –- 1.5% cash back on all net purchases. Note that this does not apply to other types of transactions, such as cash advances and balance transfers.

On Wells Fargo's Secure Website

Wells Fargo Cash Wise Visa® Card

On Wells Fargo's Secure Website
Earn a $200 cash rewards bonus after spending $1,000 in the first 3 months
  • 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 Google 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 (fees apply), then a 16.24%-28.24% variable APR; balance transfers made within 120 days qualify for the intro rate and fee
  • $0 Annual Fee
  • Select "Apply Now" to learn more about the product features, terms, and conditions
  • 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 Google 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 (fees apply), then a 16.24%-28.24% variable APR; balance transfers made within 120 days qualify for the intro rate and fee
  • $0 Annual Fee
  • Select "Apply Now" to learn more about the product features, terms, and conditions
Annual Fee
$0
APR
16.24%-28.24% (Variable)
Credit Needed
{"onCurrent":true,"message":"There are various types of credit scores. Each creditor uses a variety of different types of credit scores to make lending decisions."}
Excellent/Good
Editor's Rating
{"onCurrent":true,"message":"Our team rates credit cards objectively based on independent research, the features the credit card offers users, and how it compares with other available cards in its category. The ratings are the opinion of our editors, and are not influenced by any outside factors, including any compensation the site may receive from certain advertisers."}

Wells Fargo’s Cell Phone Insurance

All Wells Fargo credit cards, including the Wells Fargo Cash Wise Visa® Card, come with cellular telephone protection. If you pay your phone bill using this card, you will get up to $600 in coverage against damage or theft. The policy is subject to a $25 deductible and a maximum of 2 claims per 12 month period.

This is one of the best credit card benefits around, since it has the potential to save cardholders a decent amount of money. A typical insurance policy purchased directly from a provider would cost around $8 per month. Therefore, by using the Wells Fargo Cash Wise Visa® Card, you could be saving roughly $96 per year.

The coverage isn’t all-inclusive, and comes with a number of different exclusions. If you lose your phone, or it’s damaged while under the care of a common carrier (such as the Postal Service) you shouldn’t expect to receive compensation. You can read the whole list of exclusions and details about the policy here.

How Does The Wells Fargo Cash Wise Visa® Card Compare To Other Credit Cards?

To get a sense of the Wells Fargo Cash Wise Visa® Card card’s value, we looked at how it compares to its competitors.

Wells Fargo Cash Wise Visa® Card vs Chase Freedom Unlimited®

The Chase Freedom Unlimited® is one of the newest 1.5% cash back credit cards on the market. For most consumers, it will be a better option than the Wells Fargo Cash Wise Visa® Card. The Chase Freedom Unlimited® comes with a welcome bonus. You get $150 if you manage to spend $500 on purchases within the first 3 months of card membership. That's a slightly lower reward that that on the Wells Fargo Cash Wise Visa® Card, but you need half the required spend.

Secondly, the Chase Freedom Unlimited® awards users Ultimate Reward points. If you ever apply for the Chase Sapphire Preferred® Card or Ink Plus® Business Credit Card, you will gain the ability to transfer your points to a number of hotel and airline partners. In such a case, you’d boost your rewards rate above 1.5% on the Chase Freedom Unlimited®.

Conclusion: The Chase Freedom Unlimited® has far greater growth potential than the Wells Fargo Cash Wise Visa® Card.

Wells Fargo Cash Wise Visa® Card vs Barclays CashForward™ World Mastercard®

Barclays CashForward™ World Mastercard®
This card is not available through ValuePenguin.
Barclays CashForward™ World Mastercard®
This card is not available through ValuePenguin.

Despite both cards giving 1.5% cash back on all purchases, the Barclays CashForward™ World Mastercard® has a slight edge over the Wells Fargo Cash Wise Visa® Card. Every time you redeem your rewards on the Barclays CashForward™ World Mastercard®, you get a 5% bonus towards your next redemption. That boosts its net rewards rate to roughly 1.6%. Therefore, if you’re thinking of the long-term benefits of one card versus the other, the Barclays CashForward™ World Mastercard® is comes out ahead.

The Barclays CashForward™ World Mastercard® gives users $200 cash back after they spend at least $1,000 on net purchases within the first 90 days of card membership. That is the same as the the bonus you can score with the Wells Fargo Cash Wise Visa® Card.

Conclusion: The Barclays CashForward™ World Mastercard® is the better option in the long-term.

Comparison Tool

Picking between different credit cards should ultimately come down to how you spend. We built a tool that lets you quickly compare between options based on the monthly spending you input.

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Assumptions based on $1,430 monthly spend
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Comments and Questions

Opinions, analyses, reviews, or recommendations expressed here are the author's alone, and have not been reviewed or endorsed by the issuer. We may be compensated through the issuer's Affiliate Program. For a full list of our advertisers see our disclosure page

* See the online credit card application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the "Apply Now" button, you can review the credit card terms and conditions on the issuer's website.

Info about the following cards: Premier Rewards Gold Card from American Express, Hilton Honors Surpass® Credit Card, American Express® Blue Sky, American Express® Green Card, The Amex EveryDay® Preferred Credit Card from American Express, The Amex EveryDay® Credit Card from American Express, The Plenti® Credit Card from Amex, Blue from American Express®, Platinum Card® from American Express Exclusively for Mercedes-Benz, Bluebird, Centurion® Card from American Express, Hilton Honors American Express Aspire Card, Starwood Preferred Guest® American Express Luxury Card, Amazon Business American Express Card, and Marriott Bonvoy Brilliant™ American Express® Card has been collected independently by ValuePenguin. The issuer did not provide the details, nor is it responsible for their accuracy.

Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author's alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through the credit card issuer Affiliate Program.

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.

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 are ValuePenguin's alone and for illustrative purposes only. The estimates are not a guarantee, agreement, or commitment to redemption amounts and may not 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® Card 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).