Financial Resource Center: Visit our financial resource center for information to help support you through the unexpected

Wells Fargo Cash Wise Visa® Card

by | Mar 25, 2020

Overall

As a flat-rate cash back credit card, the Wells Fargo Cash Wise Visa® Card has some great things going for it. For starters, there’s a sign-up bonus, so you can snag an extra $200 if you spend $1,000 with the card in the first three months. 

The card delivers unlimited rewards at 1.5% on each $1 spent and has no categories to change every quarter for higher points if you’re the forgetful type. You’ll also earn an extra 20% on rewards (1.8% for the first 12 months, 1.5% after that) when you make a purchase with Apple Pay®, Google PayTM or another qualified digital wallet.

And there’s more good news: no annual fee and a 0% intro APR on purchases and balance transfers for 12 months. You can even use Wells Fargo Cash Wise Visa Card rewards to reduce the principal on your Wells Fargo mortgage.

No card is perfect, though. For instance, you can’t redeem travel rewards online, and cash redemption at ATMs with a Wells Fargo debit or ATM card is restricted to $20 at a time.

Here’s a closer look at the pros and cons of the Wells Fargo Cash Wise Visa® Card.

Best for:

Consumers who want to make a large purchase or transfer a balance and prefer a flat-rate card to a card with higher rewards and rotating categories. With this card’s 0% intro APR, you can buy time to pay off a large purchase with no interest or transfer a pesky high balance from another card so you can pay it off faster.

If you sometimes forget to change rotating categories on a higher-earning rewards card, you might be better off with a flat-rate cash back card like the Wells Fargo Cash Wise Visa® Card. This way, you won’t be bummed out at the end of the quarter because you missed out on 3X points after failing to switch the card’s bonus category.

APR:

0% intro APR on purchases and balance transfers 12 months (see terms after 12 months).

Rewards:

Earn unlimited 1.5% cash rewards on every $1 spent on purchases. If you want to earn even more, though, you can score 1.8% rewards for every $1 for purchases made with a qualified mobile wallet, including Apple Pay® and Google PayTM, for the first 12 months. After that, the 1.5% flat rate applies.

You can redeem rewards directed toward a Wells Fargo deposit or credit account, but to redeem rewards for cash at an ATM, you’ll have to use a Wells Fargo debit or ATM card. Cash redemption at ATMs is limited to $20 increments, so this could be an inconvenience to those looking to cash in points on the fly.

You also can redeem rewards for gift cards online, but you’ll need to call customer service to redeem rewards points for travel. For those who do everything online, having no options besides calling Go Far® Rewards customer service to redeem rewards for airline tickets, car rentals, cruises, hotels, and vacation packages could be a drawback.

Other perks:

You can earn bonus rewards with nearly 600 retailers at the Go Far® Rewards Earn More Mall when you pay with a Wells Fargo Cash Wise Visa® Card. Organized types can use the card’s online tool to set a cash redemption target and follow cash rewards earnings. You can even redeem awards to apply to a qualified Wells Fargo mortgage principal balance. The card also offers up to $600 cellphone protection ($25 deductible) for damage or theft.

Annual fee:

None

Other fees:

3% (or $5) balance transfer fee for the first 120 days. After that, up to 5% (or $5) for each balance transfer; 5% (or $10) cash advance fee; $12.50 fee on overdraft protection advances, or $20 if the daily total is greater than $50; up to $37 late payment, returned check or returned payment fee; 3% foreign transaction fee.

Bonus:

One of the best things the Wells Fargo Cash Wise Visa® Card has going for it is the $200 cash rewards bonus you’ll get if you spend $1,000 in the first three months. While it’s always good to pay off the balance on your monthly statement, this card’s 0% intro APR gives you 12 months to pay off that $1,000 with no interest.

The result: $200 in free money. Who wouldn’t love that?

How This Card Might Bring Joy to Your Wallet

Thanks to this card’s $200 sign-up bonus, as long as you make sure you don’t have to pay interest on the $1,000 you have to charge to receive the bonus, you’ll stash some extra cash.

How This Card Might Not Bring Joy to Your Wallet

If you like to redeem points for cash at the ATM, Wells Fargo Cash Wise Visa® Card’s $20-at-a-time limit might cramp your style. And not everyone enjoys having to call customer service to redeem points for travel.

Find out how you can save today at Lower My Bills.


Choose from additional cash back rewards cards below

Latest Articles

OpenRoad Lending Review: Everything You Should Know
OpenRoad Lending Review: Everything You Should Know

Are you looking to cut a bit of expense out of your life? Are you looking into auto refinance loans? You're in luck! LowerMyBills takes a look at the industry of auto refinancing loans, to provide information on getting you the refinancing you need. Today we will go...

What is a High LTV Refinance Option?
What is a High LTV Refinance Option?

The dream of homeownership creates a sense of pride, builds equity, and increases personal wealth for many. However, if you have an underwater home, it can be difficult to refinance to a lower rate.Thankfully, some programs offer a high LTV refinance option so you can...

Best Ways To Cut Costs On A Bathroom Remodel
Best Ways To Cut Costs On A Bathroom Remodel

Now is a great time to make the changes around the home that you've meant to do for ages. People are often intimidated by the upfront bathroom remodel costs, which can quickly stack up into five figures. However, you can make dramatic changes for a fraction of the...

7 Places To Cash A Check Near Me
7 Places To Cash A Check Near Me

In today's technology-driven world most people pay for things using a credit card or a debit card. Sometimes, people will even go old school and use cash. But there are those situations that get really, really, old school and someone pays you with a paper check.  Most...

Top Flite Financial: The Ultimate Review
Top Flite Financial: The Ultimate Review

Are you looking to refinance your home? Perhaps you're considering a mortgage. However, you may not have great credit. Many are in the same situation, but many lenders will work with applicants of all financial backgrounds. Top Flite Financial has a solid reputation...

Top Ways To Cut Cost On A Kitchen Remodel
Top Ways To Cut Cost On A Kitchen Remodel

The kitchen is the most-used room in your home.  This means it should be comfortable and convenient. If it's not, you might want to consider making some changes (that will more than pay for themselves in the long run). But how much does the average kitchen remodel...

Pin It on Pinterest