Wells Fargo Cash Wise Visa® Card

by | Mar 25, 2020

Advertising Disclosure

Any opinions, analyses, reviews or recommendations expressed in editorial content are of the author alone, and have not been reviewed, approved, or otherwise endorsed by the advertiser. We make every effort to provide up-to-date information, however we do not guarantee the accuracy of the information presented. Consumers should verify terms and conditions with the institution providing the products. Articles may contain some sponsored content, content about affiliated entities, or content about clients in the network.

Editorial Note

LowerMyBills is compensated by third-party advertisers, however, any opinions, analyses, reviews or recommendations expressed in editorial content are of the author alone, and have not been reviewed, approved, or otherwise endorsed by the advertiser. While reasonable efforts are made to maintain accurate information, the information is presented without warranty.

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

How Often Should You Use A Credit Card?
How Often Should You Use A Credit Card?

People tend to think about credit cards like they think about the money in their wallet - physical objects of value, used for purchasing goods and services. That’s partially true, but it doesn’t tell the whole story. A card is nothing more than a symbol of your...

5 Things You Need To Know About Credit Reports
5 Things You Need To Know About Credit Reports

If you’ve ever had a credit account in your name, such as a credit card or auto loan, you likely have one or more credit reports. It’s important to understand what these reports are since they affect many aspects of your financial life. Keep reading to learn five...

Features of Credit One Credit Cards
Features of Credit One Credit Cards

There’s at least one truth about credit cards: One size does not fit all. In fact, credit cards come in almost as many varieties as the people who use them. Las Vegas-based Credit One Bank offers an array of credit cards for consumers. Here are some key features that...

USAA Rewards American Express® Card Credit Card Review
USAA Rewards American Express® Card Credit Card Review

The USAA Rewards American Express® Card offers an impressive 3 points for every $1 spent on dining out, and 2 points for every $1 spent on gas and groceries, which is a great combination for families. Coupled with the 4% APR for qualifying military members during...

Citi Rewards+ Card Review
Citi Rewards+ Card Review

When you’re trying to find the cheapest price for gas, all you have to do is read the sign as you drive by a station. If one station display has a lower price than the other, it’s simply a better deal. But with credit cards, banks seem to be trying to make it as...

Citi Premier Card Review
Citi Premier Card Review

The Citi Premier℠ Card, one of Citi’s five ThankYou® rewards cards, delivers a super-generous sign-up bonus and a 25% boost in point value when you redeem the points through Citi’s travel portal. Rewards points can add up fast, too, at 3 points (3X) for every $1...