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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.
- Benefits & Features
- How Does The Wells Fargo Cash Wise Visa® Card Compare
- Compare Cards Based On Your Spending
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 stores||Optimizers 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.
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®
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.
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.