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

Wells Fargo Cash Wise Visa® Card
This product is not available through ValuePenguin.
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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

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4.5/5.0

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any credit card issuer.

The information related to the Wells Fargo Cash Wise Visa® Card has been collected by ValuePenguin and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.

The Wells Fargo Cash Wise Visa® Card offers cash back on all spending without revolving category limits—which makes this a straightforward option for everyday spending. Cardholders earn an unlimited 1.5% cash back that can be redeemed through Wells Fargo ATM withdrawals, checking account deposits and more.

Wells Fargo Cash Wise Visa® Card Review: good for no-fuss spenders

If you’re looking for a cashback card with minimal fine print, the Wells Fargo Cash Wise Visa® Card may be a good pick. You don’t have to worry about spending within a certain category or activating rewards each quarter—you automatically earn 1.5% cash back on all spending.

The Wells Fargo Cash Wise Visa® Card also gives you the opportunity to earn 1.8% in cash back rewards when you use a mobile wallet such as Apple Pay® or Google Pay™ to make purchases within the first 12 months of having the card.

Below are the top Wells Fargo Cash Wise Visa® Card features.

Multiple redemption options: some tied to Wells Fargo products

Wells Fargo lets you redeem cash back in multiple ways. You can take a credit towards your credit card statement or you can deposit cash back earned into an eligible Wells Fargo checking or savings account once your balance reaches $25.

You can withdraw cash back at a Wells Fargo ATM with a Wells Fargo debit or ATM card in increments of $20. Gift cards and paper checks are other redemption options. You can redeem cash back for merchandise and travel through GoFarRewards, which is Wells Fargo’s rewards program dashboard. If you have a Wells Fargo mortgage, you can even use the cash back to pay toward your mortgage balance.

Decent introductory bonuses

Wells Fargo Cash Wise Visa® Card gives you an intro 0% APR on new purchases and balance transfers for the first 15 months, then 15.74% - 27.74% (Variable). And if you spend $500 within the first three months of signing up for the card, you’ll get an extra $150 in cash back.

The introductory bonus coupled with a 0% intro APR deal can help you rack up cashback rewards on major purchases without worrying about interest. Say you plan to buy a new $1,000 computer within the first month you have the card. You’ll earn $15 cash back on the purchase, plus an extra $150 in a cashback bonus and you can pay the balance off slowly over 15 months interest-free. Any remaining balance will be subject to the go-to APR on the card.

The Wells Fargo Cash Wise Visa® Card intro offer is pretty good, but there are flat-rate cash back cards that sweeten the deal a bit more.

Cell phone protection and auto rental collision damage waiver

The Wells Fargo cell phone protection benefit protects your cell phone from damage or theft as long as you make cell phone payments with your Wells Fargo credit card. You’ll get reimbursed for the repair or replacement of your phone. The maximum benefit is up to $600 per claim and up to $1,200 per 12 month period with a $25 deductible. If you rent a car with your Wells Fargo credit card, the auto rental collision damage waiver will reimburse you up to the cash value of the rental car if the car is stolen or there’s damage caused by a collision.

Fraud monitoring, zero liability protection and overdraft protection

The Wells Fargo Cash Wise Visa® Card comes with 24/7 fraud monitoring that will notify you of unusual account transactions. There’s zero liability protection, which means you won’t be held responsible for unauthorized charges on your card if you report them in a timely manner.

You also have the option to connect this Wells Fargo credit card to a Wells Fargo checking account for overdraft protection. If your checking account is overdrawn, an advance will come from your credit line (fees for the advance may apply).

ValuePenguin's verdict: best for diverse spenders

A card offering 1.5% cash back on all spending is one of the better flat-rate cash back offers. A flat-rate cash back card is ideal for people who spend pretty evenly across all categories and who aren’t interested in managing revolving categories that change every quarter.

If you spend heavily in a specific category such as restaurants or groceries, you may benefit more from a card that offers a higher reward for spending on those purchases. For instance, the Blue Cash Preferred® Card from American Express offers 6% cash back at U.S. supermarkets up to $6,000 per year with a $95 annual fee. To get the most out of a category card that has an annual fee, you have to make sure you’re spending enough within the category to cover the cost.

Existing Wells Fargo customers may find the Wells Fargo Cash Wise Visa® Card the most convenient since several redemption options are tied to other Wells Fargo products. If you want to redeem cash back by direct deposit, it has to be a deposit into a Wells Fargo account. If you want to withdraw cash back earned from an ATM, it has to be from a Wells Fargo ATM.

Alternatives to the Wells Fargo Cash Wise Visa® Card

The Wells Fargo Cash Wise Visa® Card has redemption restrictions that limit where and when you can deposit and withdraw cash back. Here are two flat-rate cashback cards that don’t have the same restrictions and one other option that gives you a bit more cash back:

Chase Freedom Unlimited®

  • On Chase's Secure Website
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Chase Freedom Unlimited®

  • On Chase's Secure Website
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Earn a $150 bonus after you spend $500 on purchases in the first 3 months from account opening.
  • Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening.
  • Earn unlimited 1.5% cash back on all purchases.
  • 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 16.74-25.49%.
  • 3% intro balance transfer fee when you transfer a balance during the first 60 days your account is open, with a minimum of $5
  • No annual fee
  • No minimum to redeem for cash back
  • Cash Back rewards do not expire as long as your account is open
  • Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening.
  • Earn unlimited 1.5% cash back on all purchases.
  • 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 16.74-25.49%.
  • 3% intro balance transfer fee when you transfer a balance during the first 60 days your account is open, with a minimum of $5
  • No annual fee
  • No minimum to redeem for cash back
  • Cash Back rewards do not expire as long as your account is open
Annual Fee
$0
Regular APR
16.74% - 25.49% 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
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."}

The Chase Freedom Unlimited® also offers 1.5% unlimited cash back. There’s no minimum to redeem cash back, and cash back doesn’t expire. There's no annual fee, and there's a 0% APR introductory special for new purchases and balance transfers for the first 15 months, then 16.74% - 25.49% Variable.

You can receive the cash back in a statement credit or you can transfer the cash back into a U.S. checking or savings account. You can use rewards earned from your Chase Freedom Unlimited® card to shop on Amazon, to redeem for gift cards and book travel through Chase Ultimate Rewards. Chase Freedom Unlimited® has zero liability protection and fraud protection.

Capital One® Quicksilver® Cash Rewards Credit Card

  • On Capital One's Secure Website
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Capital One® Quicksilver® Cash Rewards Credit Card

  • On Capital One's Secure Website
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Earn a $150 cash bonus after you spend $500 on purchases within 3 months from account opening.
  • One-time $150 cash bonus after you spend $500 on purchases within 3 months from account opening
  • Earn unlimited 1.5% cash back on every purchase, every day
  • No rotating categories or sign-ups needed to earn cash rewards; plus, cash back won't expire for the life of the account and there's no limit to how much you can earn
  • 0% intro APR on purchases for 15 months; 15.74%-25.74% variable APR after that
  • 0% intro APR on balance transfers for 15 months; 15.74%-25.74% variable APR after that; 3% fee on the amounts transferred within the first 15 months
  • Pay no annual fee or foreign transaction fees

Note: The information in this box was provided by Capital One and is not part of our independent analysis.

  • One-time $150 cash bonus after you spend $500 on purchases within 3 months from account opening
  • Earn unlimited 1.5% cash back on every purchase, every day
  • No rotating categories or sign-ups needed to earn cash rewards; plus, cash back won't expire for the life of the account and there's no limit to how much you can earn
  • 0% intro APR on purchases for 15 months; 15.74%-25.74% variable APR after that
  • 0% intro APR on balance transfers for 15 months; 15.74%-25.74% variable APR after that; 3% fee on the amounts transferred within the first 15 months
  • Pay no annual fee or foreign transaction fees
Annual Fee
$0
Regular APR
15.74% - 25.74% (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."}

The Capital One® Quicksilver® Cash Rewards Credit Card offers 1.5% on every purchase. Cash back doesn’t expire and you can redeem the cash back at any time. You can redeem for cash, gift cards and statement credit. If you spend $500 within the first three months of having the card, you’ll get a one-time cash bonus of $150.

There’s a 0% APR introductory deal for new purchases and balance transfers that lasts 15 months, then the ongoing APR will be 15.74% - 25.74% (Variable). The card has no annual fee. The Capital One® Quicksilver® Cash Rewards Credit Card comes with security alerts to help you identify unauthorized activity on your account. Zero liability is also offered if your card is lost or stolen, which means you won’t be responsible for unauthorized charges.

Citi® Double Cash Card

  • On Citi's Secure Website
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Citi® Double Cash Card

  • On Citi's Secure Website
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  • Earn cash back twice. 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 15.49% – 25.49%, based on your creditworthiness.
  • Click "Apply Now" to see the applicable balance transfer fee and how making a balance transfer impacts interest on purchases.
  • Balance Transfers do not earn cash back.
  • The standard variable APR for Citi Flex Plan is 15.49% – 25.49%, based on your creditworthiness. Citi Flex Plan offers are made available at Citi's discretion.
  • Earn cash back twice. 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 15.49% – 25.49%, based on your creditworthiness.
  • Click "Apply Now" to see the applicable balance transfer fee and how making a balance transfer impacts interest on purchases.
  • Balance Transfers do not earn cash back.
  • The standard variable APR for Citi Flex Plan is 15.49% – 25.49%, based on your creditworthiness. Citi Flex Plan offers are made available at Citi's discretion.
Annual Fee
$0
Regular APR
15.49% - 25.49% (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."}

The Citi® Double Cash Card doesn’t let you redeem cash back until your balance reaches $25, but it does give you a bit more in cash back than the Wells Fargo Cash Wise Visa® Card offer. You can earn 2% cash back in total—1% cash back when you make a purchase and 1% cash back when you pay it back. There are no cashback caps and no annual fee.

The Citi® Double Cash Card gives cardholders 24-hour fraud protection zero liability for unauthorized purchases. This card doesn’t currently offer an introductory offer for purchases, but there is a 0% APR deal for balance transfers for 18 months, then 15.49% - 25.49% (Variable). However, it does charge a balance transfer fee of 3% of the amount transferred, or $5, whichever is greater.

Comments and Questions

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Advertiser Disclosure: The products that appear on this site may be from companies from which ValuePenguin receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). ValuePenguin does not include all financial institutions or all products offered available in the marketplace.

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).