Cash back credit cards are one of the most well-loved types of rewards credit cards in the United States. It really pays to have a good to excellent credit score as banks scramble to get this group of consumers as their customers. How do banks attract potential customers? By dishing out lucrative offers, of course! If you are on the lookout for a credit card that offers a slew of fantastic cash back earning perks minus the hefty annual fees that some other cards come with, consider Wells Fargo Cash Wise Visa® Card, a Wells Fargo credit card that has got a lot of good benefits and perks.
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Wells Fargo Cash Wise Visa® Card
0% Intro APR for 12 months on purchases and balance transfers (fees apply), balance transfers made within 120 days qualify for the intro rate and fee
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Here, GET.com provides answers to key questions about how Wells Fargo Cash Wise Visa® Card works and what it offers.
Answer: Wells Fargo Cash Wise Visa® Card is one of the most generous cards out there when it comes to welcome bonuses. You get to earn a $200 cash rewards bonus when you use your new Wells Fargo Cash Wise Visa® Card to make at least $1,000 in net purchases (i.e. purchases minus returns/credits) within the first 3 months of account opening.
Answer: When you use your Wells Fargo Cash Wise Visa® Card, you will enjoy unlimited 1.5% cash rewards on practically every purchase you make. It is incredibly straightforward since no quarterly activations or category limitations are required. For every dollar in net purchases (i.e. purchases minus returns/credits) that you pay for using your card, you will earn 1.5% cash rewards, rounded to the nearest 1 cent. Keep in mind that no cash rewards will be awarded retroactively as cash rewards accrual only start upon the date you open your credit card account.
Answer: The answer is yes if you are someone who uses mobile wallets to pay for your purchases. You can earn 1.8% cash rewards on your qualified mobile wallet purchases like Apple Pay® or Google Pay™ during the first 12 months from account opening when you use your Wells Fargo Cash Wise Visa® Card to pay for such transactions.
Answer: While the term 'cash rewards' may suggest that you can get cold hard cash back from Wells Fargo Cash Wise Visa® Card, rewards can be redeemed for a lot more than cash. You can redeem your cash rewards for anything from cash, travel and merchandise to electronic gift cards, digital rewards and charitable donations. Keep in mind that for cash redemption options via online or phone, you can redeem only in increments of $25 whereas for cash redemptions via a Wells Fargo ATM withdrawal, you can redeem only in $20 increments.
Answer: No. The cash rewards that you earn from using Wells Fargo Cash Wise Visa® Card do not expire so long as your account is open and in good standing. Note that your cash rewards will not be available for redemption, gifting or transfer if your credit card account becomes delinquent (i.e. you fail to make a required payment when it is due).
Answer: Yes. This card not only rewards you with 1.5 points per $1 spent on purchases, it also has a 0% intro APR for 12 months on purchases and balance transfers (fees apply; balance transfers made within 120 days qualify for the intro rate and fee) which will help you save on interest if you pay off your balance within the intro period. After that, there is a 16.24% - 28.24% variable APR, based on your creditworthiness.
Answer: Yes. Wells Fargo Cash Wise Visa® Card can help you beat your credit card debt with its intro APR offer: 0% intro APR for 12 months on purchases and balance transfers (fees apply; balance transfers made within 120 days qualify for the intro rate and fee), 16.24% - 28.24% variable APR thereafter. Just make sure that you pay off your balance in full before the intro APR period ends. There is a 3% intro balance transfer fee for 120 days, 5% after that.
Answer: Yes, not only does Wells Fargo Cash Wise Visa® Card offer you a fuss-free way to earn rewards, it also comes with up to $600 of cell phone protection, subject to a $25 deductible per claim and a maximum of two claims per 12-month period. You will be offered this bonus protection against theft or covered damage so long as you pay your monthly cell phone bill using your Wells Fargo Cash Wise Visa® Card. Keep in mind that the maximum benefit is capped at $600 per occurrence and $1,200 per 12 month period. Also, this perk does not cover cell phones that are lost, borrowed, rented or received as part of a prepaid plan.
Answer: No, Wells Fargo Cash Wise Visa® Card has $0 annual fee. All cash rewards that you earn from using the card when paying for purchases equal pure savings. This certainly ups the card's appeal.
Answer: No. Although Wells Fargo Cash Wise Visa® Card comes with chip technology for better protection against fraud when used at a chip-enabled terminal anywhere in the world, there is a 3% foreign transaction fee imposed on transactions that are in currencies other than the U.S. dollar. Wells Fargo Cash Wise Visa® Card is not a card you should take with you when you travel outside of the United States, nor is it a card you should reach for when you shop online at international stores and pay in foreign currencies.
Answer: Yes. You will pay a late fee of up to $37 if you make a late payment on this card, so be sure to pay off your balance in full by the end of the due date each month.
Answer: No. This card has a high cash advance fee, so it's not the best choice of a card to use to get cash out from ATMs. The APR for cash advances and overdraft protection advances for Wells Fargo Cash Wise Visa® Card is a 26.24% - 28.24% variable APR, based on your creditworthiness. There is also a 5% cash advance fee or $10, whichever is greater.
Answer: If you have a checking account with Wells Fargo, you can link your Wells Fargo checking account to Wells Fargo Cash Wise Visa® Card so that overdrafts are automatically covered by your credit card. While overdraft protection helps you avoid overdraft fees, it is important to bear in mind that payments toward overdrafts do not come free. You will pay a transaction fee of $12.50 if the total of overdraft protection advances for the day is $50 or less; or $20 if the total of overdraft protection advances for the day is more than $50.
Answer: Yes. Wells Fargo Cash Wise Visa® Card grants you free access to your FICO® Credit Score. This makes it easy for you to keep track of your credit score online through Wells Fargo Online®.
Answer: Wells Fargo Cash Wise Visa® Card is an excellent card with $0 annual fee that is great for its generous $200 cash rewards bonus, low introductory APR and 1.5% cash rewards. The fact that you can earn unlimited, flat rate cash rewards on literally every purchase makes this card an even more attractive option for those looking for an easy way to snag pure savings. You get to earn additional cash rewards if you are someone who frequently uses Apple Pay® or Google Pay™ when paying for your purchases.
If you are new to Wells Fargo and you currently have credit card debt on other cards, Wells Fargo Cash Wise Visa® Card fares well with its low introductory APR for balance transfers, too. Just make sure you pay off your debt in full before the introductory APR is over to benefit from the balance transfer introductory APR offer.