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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 Unlimited 1.5% cash rewards on everyday net purchases.
The Wells Fargo Cash Wise Visa® card also gives you the opportunity to earn 1.8% in cash back rewards when you use a digital 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 a 0% for 15 months intro APR on purchases, then 14.99% - 26.99% 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®
The Chase Freedom Unlimited® also offers 1.5% cash back offer. There’s no minimum to redeem cash back, and cash back doesn’t expire. There's a $0 annual fee, and there's a 0% intro APR for 15 months from account opening on purchases and balance transfers, then 16.49% - 25.24% 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
The Capital One® Quicksilver® Cash Rewards Credit Card offers 1.5% Cash Back on every purchase, every day. 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. one-time $150 cash bonus once you spend $500 on purchases within 3 months from account opening.
There’s a 0% intro APR for the first 15 months on purchases and balance transfers, then the ongoing APR will be 15.49% - 25.49% (Variable). The card has a $0 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 – 18 month BT offer
Citi® Double Cash Card
No Annual Fee
13.99% - 23.99% Variable
- 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 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.
The Citi® Double Cash Card – 18 month BT offer 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 on purchases: 1% when you buy plus 1% as you pay. There are no cashback caps and $0.
The Citi® Double Cash Card – 18 month BT offer 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% intro APR on balance transfer for 18 months, then a 13.99% - 23.99% Variable APR applies. However, it does charge a balance transfer fee of 3% of each balance transfer; $5 minimum..