Wells Fargo Cash Wise Visa® Credit Card
The Wells Fargo Cash Wise Visa is a simple and rewarding cashback credit card. It offers a $200 sign-up bonus after spending $1,000 in the first three months and 0% APR on purchases and balance transfers for 12 months. The card doesn’t charge an annual fee, either. On everyday spending, you’ll earn 1.5 percent back on all purchases, and cash back can be redeemed as soon as you reach at least $25 .
For a no annual fee card, Cash Wise is a great option for anyone looking to earn cash back without having to keep track of bonus categories. The biggest downside to this card is that you can’t make a redemption until you have at least $25 in cash back, but that’s a pretty small downside compared to all of the benefits.
Bonuses and Benefits
Knowing what benefits come with a credit card can help you decide if it’s a good fit for you. Here we cover the bonuses and perks that the Wells Fargo Cash Wise Visa® Card offers and the value of the Wells Fargo cashback you earn.
The Wells Fargo Cash Wise Visa card offers a $200 sign-up bonus after spending $1,000 on purchases within your first three months as a cardholder. Additionally, new cardholders will receive 0% APR on purchases and balance transfers for the first 12 months.
What You Get
- $200 after you spend $1,000 within the first 3 months
- 0% APR on purchases and balance transfers for 12 months
- 1.5 back on all purchases
- Get up to $600 in cell phone protection if you pay your bill with your card
As long as your Wells Fargo Cash Wise account is kept open, your rewards will not expire.
What is the value of the Wells Fargo® Points?
With the Wells Fargo Cash Wise card, cash back is simple. It is worth exactly what it looks like it’s worth. The $200 sign-up bonus is truly worth $200, and every dollar you spend earns 1.5 cents back. You don’t have to do anything in order to maximize your cash back.
The Best Ways to Redeem Wells Fargo Cashback
The Wells Fargo Cash Wise card offers cash back on all of your purchases with no restrictions about the type of purchases you can redeem your cash back for. The only restriction you should know about is that the minimum redemption is $25. As long as you have $25 or more ready to redeem, you can use it for anything you want!
The Wells Fargo Cash Wise earns 1.5 percent cash rewards on all purchases. During your first 12 months as a card member, however, you can do a little bit better if you use your card with Android Pay or Apple Pay. For those first 12 months, you’ll earn 1.8 percent back on these digital wallet purchases.
- Car Rental
- Digital wallet purchases
- All Other Purchases
No Foreign Transaction Fees
Feel free to use this card while traveling abroad because you’ll never have to pay a foreign transaction fee.
Fees: the cost of Having the Card
The Wells Fargo Cash Wise card doesn’t have an annual fee, so you don’t need to spend anything in order to cover it. You should pay attention to how much you could earn from other cards before deciding to make a purchase at 1.5 percent cash back.
Since the Cash Wise card offers a $200 sign-up bonus, you are coming out way ahead for the first year.
- Annual Fee
- Balance Transfer Fee
Introductory fee of either $5 or 3% of the amount of each balance transfer, whichever is greater, for 12 months. After that, up to 5% for each balance transfer, with a minimum of $5
- Foreign Transaction Fee
- 3% of each transaction in U.S. dollars
- Late Payment Fee
- Up to $37
The Wells Fargo Cash Wise Visa is a no-fee card. You do not have to earn a certain amount of rewards in order to cover the cost since it’s free. It’s still good to know roughly how much you’ll be earning, though. We’ve broken out our estimates for the first- and second-year net earnings.
These estimates are based on an annual monthly spend of $2,000
Top 5 Benefits of the Wells Fargo Cash Wise Visa® Card
For a no annual fee card, the Wells Fargo Cash Wise Visa has some really amazing benefits. Here are the top five.
- Great Earning Potential: You’ll get bonus points for every purchase you make. Every dollar you spend earns 1.5% cash back, which will add up fast.
- Big Sign-Up Bonus: This card comes with a big bonus of $200. All you have to do is spend just $1,000 in 3 months.
- No Annual Fee: You’ll never have to pay anything for this card. That means all the rewards you earn are essentially free.
- Cell Phone Protection: Get up to $600 in protection for your cell phone when you pay your monthly cell phone bill with your Cash Wise card. This benefit is subject to a $25 deductible.
- 0% APR: For your first 12 months as a cardholder, you will have 0% APR on purchases and balance transfers.
Should You Get the Wells Fargo Cash Wise Visa?
The Wells Fargo Cash Wise card is a good option for anyone looking for a simple cashback credit card. Since it has no annual fee, you don’t have to consider the cost of keeping the card. It offers solid everyday earning, a nice $200 sign-up bonus and other unique benefits, like cell phone protection.
The Cash Wise card works well both as a one-size-fits-all card where you can use it for most of your spending, and it also works well as a secondary card to earn on the purchases that wouldn’t otherwise earn a bonus. Since it doesn’t have an annual fee, it’s also a great card to get while you’re figuring out the rest of your credit card strategy.
Need more info? Check out our frequently asked questions. If you have other questions, please click on “Ask Now” below.
- The Cash Wise card is eligible to use with Overdraft Protection as long as you have a Wells Fargo checking account. If you don’t already have an account with Wells Fargo, you will need to apply for one. If you do already have an account, you can call 1-800-642-4720 to enroll.
- The Cash Wise card automatically comes with Go Far Rewards. There is no need to sign up separately.
- Most applicants report having a credit score of 690 or higher. If your credit score is higher than 690, it is not a guarantee that you will be approved. Likewise, if your credit score is lower than 690, it is still possible that you will be approved. Wells Fargo will evaluate your entire application before deciding to approve or deny you for the card.
- The Cash Wise card doesn’t charge foreign transaction fees, so it is okay to use this card when traveling abroad.
When taking advantage of 0% APR on balance transfers for the first 12 months, do I still need to pay the balance transfer fee?Yes, you will still need to pay the balance transfer fee in order to take advantage of 0% APR on balance transfers for 12 months.
Before you apply for the Wells Fargo Cash Wise card, let’s take a look at a couple of other Wells Fargo cards to see if they could be a better fit. The cards we will look at are the Wells Fargo Propel American Express, Wells Fargo Visa Signature and the Wells Fargo Rewards card.
Other Wells Fargo Rewards cards
|Wells Fargo Propel American Express® Card|
|Sign-up bonus||20,000 points||$200||20,000 points||20,000 points|
|APR On Purchases||14.24% to 26.24% Variable±||14.24% to 26.24% Variable±||13.15% to 26.99% Variable±||18.15% to 26.99% Variable±|
|Second Year Value||$240||$360||$358||$240|
The main differences between these cards are their earning categories for purchases. All three cards offer 20,000 points sign-up bonuses and no annual fees.
The Wells Fargo Propel American Express card offers 3 points per dollar spent at U.S. gas stations, 2 points per dollar at U.S. restaurants and 1 point per dollar for all other purchases. The Wells Fargo Visa Signature offers 5 points per dollar at gas stations, grocery stores and drug stores for six months on up to $12,500 in combined purchases and 1 point per dollar for all other purchases.
The Wells Fargo Rewards card offers the same spending categories as the Visa Signature. Due to the limited nature of the bonus categories of the Visa Signature and Rewards cards, these are both good options if you have large purchases coming up at gas stations, grocery stores or drug stores, but are not as good of long term cards as the Cash Wise or Propel cards. Between the Cash Wise and Propel cards, you should consider which card will offer you more points based on your everyday spending.
Compare Wells Fargo Cash Wise Visa Credit Card to Other Cards
In addition to looking at other Wells Fargo cards, we also want to take a look at a few cards issued by other banks: the Quicksilver Rewards card, Barclaycard CashForward World MasterCard and U.S. Bank Cash 365.
Like the Cash Wise card, Quicksilver also offers 1.5 percent back on all purchases, but it only offers a $150 sign-up bonus after completing $500 in minimum spending. However, there is no minimum cashback redemption.
The Barclaycard CashForward card offers 1.5 percent back on all purchases, a $200 sign-up bonus and no annual fee, but it has a $50 minimum redemption requirement. The U.S. Bank Cash 365 card offers 2 percent back on all purchases made during the first year and 1.5 percent back on purchases made in subsequent years, but it does not offer a separate sign-up bonus.
Whenever you apply for a credit card make sure you read the terms and conditions of the card and the rewards program to find out about minimum spend requirements and any restrictions to ensure you can successfully obtain the card and earn the rewards it offers.
Card Terms and Conditions
While it's easy to focus on the rewards offered by the Wells Fargo Cash Wise Visa card, it's worth taking a closer look at the terms and conditions. There's a lot to consider as you think about how you're going to use the card. Will you carry a balance, get a cash advance or maybe make a big purchase? Below is a rundown of the various interest rates, purchase protections, security features and mobile banking options that come with this Visa card.
- Intro APR:
- 0.00% introductory APR for 12 months
- Intro APR for balance transfers:
- 0.00% introductory APR for 12 months
- Ongoing APR:
- 14.24% to 26.24% Variable±
- Minimum Grace Period:
- 25 days
- Cell Phone Protection:
- Get up to $600 in coverage for your cell phone by paying your monthly bill with your Cash Wise card. This benefit is subject to a $25 deductible.
Cash Advance Features
- Ongoing APR:
- 25.24% to 27.24% Variable±
- Cash Advance Fee:
- Either $10 or 5% of the amount of each advance, whichever is greater
Security and Protections
The Wells Fargo Cash Wise card offers standard security benefits, including the following:
- Account alerts:
- Set up alerts to track purchases and receive notifications of irregular or suspicious activity.
- EMV Chip + Signature Technology:
- Get global acceptance and enhanced security at merchants that use chip-enabled terminals.
- Zero Liability Program:
- You’re protected from unauthorized transactions when you report them promptly.
Wells Fargo offers a mobile app so you can track your account activity while you’re on the go. The Cash Wise card is also compatible with Apple Pay, Samsung Pay and Android Pay.
Additional Cardholder Benefits
In addition to the benefits listed above, the Wells Fargo Cash Wise card offers the following:
Visa Signature Travel Benefits
- Auto Rental Collision Damage Waiver:
- Coverage for theft and collision for most rentals in the U.S. and abroad. Coverage is secondary to your personal insurance.
- Roadside Dispatch:
- Call 1-800-847-2869 for roadside assistance, including lockout service, towing, jumpstart and gas delivery. Service charges apply.
- Travel Accident Insurance:
- Receive accidental death or dismemberment coverage of up to $150,000 for any air, bus, train or cruise ship transportation paid for with your card.
- Emergency Card Replacement and Cash Disbursement:
- Call the number on the back of your card if you need an emergency cash advance or temporary card.
- Travel and Emergency Assistance Services:
- Legal and medical referrals, and other travel and emergency assistance is available any time of day. Service charges apply.