If you’re interested in applying for a great everyday use card, you’re in the right spot! With the Wells Fargo Cash Wise Visa® Card, you can earn a $150 cash rewards bonus after spending $500 in the first 3 months.
What makes this card a great everyday card is that it comes with no annual fee, and, you can earn an unlimited 1.5% cash rewards on purchases (1.8% cash rewards on qualified mobile wallet purchases, like Apple Pay® or Google PayTM during the first 12 months from account opening) with no category restrictions/sign-ups/etc!
There is also a generous APR introductory promotion, steady balance transfers for cardholders who want to transfer their existing high-interest balances to another account and best of all, you earn rewards through cash back!
If you want to find out more about this card offer, please continue to read below.
Check out Wells Fargo for great Checking/Savings bonuses too!
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Wells Fargo Cash Wise Visa Card Summary
Wells Fargo Cash Wise Visa Card
After hitting the $500 threshold in the first 3 months of opening your account, you can earn $150 cash back. There are many ways to go about this. Down below are several options to acquiring these points.
• Plastiq - Using Plastiq allows you to pay for your personal expenses such as rent, tuition, mortgage, auto lease etc. Although they charge a 2.5% processing fee for using your credit card, this will contribute to the card bonus that you will receive. There is also a referral program that allows you to earn "Free-Free Dollars" that goes towards processing fees as well.
• Funding Checking Accounts - When it comes to funding a checking account, opening your initial deposit with a credit card is the usual way to go about it. However, if you want to have more opportunities, you should open a checking account that offers a sign-up bonus. This allows you to work towards bonuses from not one but two different sources instead. Banks like Chase, Huntington Bank, TD Bank and BBVA offers credit card funding, and for your opening deposit, you can often fund anywhere from $50-$1000 with a credit card, depending on what bank offers it.
• Gift Card Purchases With Using a Credit Card - Another way to acquire the bonus is using your credit card to purchase gift cards. Buying a a gift card or an individual merchant card typically do not require a purchase fee and are used towards leisure, so gift cards are ideal. However, gift cards such as a Visa or American Express do incur purchase fees because they can be spent anywhere, but gift cards that are specifically for a certain online shopping site such as Amazon or eBay don't.
As for a Citi Credit Card, you should call customer service and ask them to lower your Cash Advance limit to $0 before making any purchases because Citi tends to read gift card purchases as a Cash Advance.
Ideally, you should do this with any card just to be safe. Lastly, there is such thing as a discounted gift card which can be purchased on Raise or eBay. If you use a credit card often for everyday purchases, it can build your credit score that will contribute towards paying for things such as bills and taxes.
Wells Fargo Cash Wise Visa – Top Features
Wells Fargo has a 0% Intro APR on purchases and qualifying balance transfers for 15 months from account opening. After that your variable APR will be 14.49%-24.99%.
The APR promotion also comes with a no penalty APR which highly benefits those who miss payments due to unfortunate circumstances. Compared to other cards that has a 30% APR, Cash Wise is a wiser choice as the name implies.
Cash Wise has no rotating spending categories that customers don’t have to worry about upon signing up, so you don’t have to necessarily maximize your cash back earnings either.
Wells Fargo has no annual fee to pay upon signing up, so this makes this everyday card more attractive. There is however, a 3% foreign transaction fees so for those who travel abroad often, consider a travel rewards card instead.
Cash Wise offers a cell phone protection service due to damaged or stolen cell phones, up to $600 per incident and $1,200 per year. There is a $25 deductible every time you use this service though.
Earning Cash Back
Get an unlimited 1.5% cash back on all purchases. There are no category restrictions, and your cash back rewards don’t expire as long as your account remains open and in good standing.
Redeeming Cash Back
Wells Fargo customers can redeem points through the phone or through the online portal for rewards such as cash, gift cards, travel expenses, and other purchases.
If you have a Wells Fargo debit or ATM card, you can redeem for cash at any nearby Wells Fargo ATM. Points are worth $0.01 apiece at redemption, but this can vary depending on purchases.
You need a minimum of $25 in cash back rewards to redeem for statement credits, paper checks, or Wells Fargo bank account deposits. However, if you have a Wells Fargo debit or ATM card, you can redeem at ATMs in $20 increments.
You can also redeem at the Go Far Rewards portal for non-cash redemptions like gift cards, merchandise purchases, and travel purchases. However, non-cash redemptions generally have less value than cash redemptions.
Wells Fargo Cash Wise Cardholder Benefits
There are several benefits that the Wells Fargo Cash Wise card comes with. These include: complimentary loss and damage coverage on rental cars, extended warranties on items, reimbursement for lost and damage luggage and cellphone protection. Read more below for other benefits.
Overdraft Protection: This card includes an overdraft protection which means you can connect your credit card to your Wells Fargo checking account to ensure protection against checking overdraft.
If you do come across an overdraft, Wells Fargo will replace the negative balance with a cash advance on your Propel card.
For transfers, each one has a $12.50 fee if the total amount is less than $50, and $20 if the total amount exceeds $50. Other cash advance interest rates depend on your credit card score, but overall applies to overdraft protection as a whole.
When you sign up online for a Wells Fargo Cash Wise Visa® Card, you will be able to earn 1.5% cash back on all your purchases, along with 1.8% cash back for all purchases made with Google Pay or Apple Pay in the first twelve month span from account opening.
Additionally, like other Wells Fargo credit cards, you will be offered a cellphone protection plan. It comes with a maximum benefit limit of $600 per occurrence and two claims per 12-month period. The cellphone protection covers your primary line along with up to 3 other additional lines against stolen or damaged phones.
Another benefit of this card is it includes a program called Cash Track, an online tool that allows you to set a cash redemption target and enables you to monitor the progress.
Along with that program, there is another one called the GoFar Rewards program that provides a variety of options for redeeming cash rewards.
In conclusion, this card is a good fit if you’re a high spender who shops or spends a lot. Many will also find it appealing because aside from the phone insurance plan, the cash back percentage is higher than average too.
Please provide feedback in the comment section below by telling us your thoughts and experience with this card. Make sure to visit BankDealGuy to explore more credit card bonuses.
Alternative Credit Cards Options
If you aren’t particularly a Wells Fargo customer, then here are some alternative credit card options that are similar. These include the American Express Cash Magnet® Card, Chase Freedom Unlimited® Card and Capital One® Quicksilver® Cash Rewards Card.
The Chase Freedom Unlimited Card offers a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening. Earn unlimited 1.5% cash back on all purchases.
In addition, you can earn:
• Earn 5% cash back on grocery store purchases (not including Target or Walmart purchases) on up to $12,000 spent in the first year.
• Earn unlimited 1.5% cash back on all other purchases.
• Earn 5% on Chase travel purchased through Ultimate Rewards, 3% on dining and drugstores, and 1.5% on all other purchases.
There is no minimum to redeem for cash back & your cash back rewards do not expire as long as your account is open.
This card comes with no annual fee and you'll get a free credit score that is updated weekly with Credit JourneySM.
The Capital One Quicksilver Cash Rewards Card offers $200 Cash Back after spending $500 on purchases within 3 months from account opening.
You'll be able to earn 1.5% Cash Back on every purchase, every day with no rotating categories or sign-ups needed to earn cash rewards.
This card comes with no annual fee and no foreign transaction fees which makes this card a viable option for your go-to everyday card.
Learn more about this card here.
• Chase Bank Bonuses. Chase usually offers the most sign-up bonuses out of all the big banks. Read up and enjoy several promotions for their Checking, Savings and Business accounts.
• HSBC Bank Bonuses. HSBC has some big value offers available for their Checking accounts. Some require hefty deposits to qualify. They also have an online Savings account offering a very competitive rate.
• Huntington Bank Bonuses. Huntington has Consumer Checking and Business Checking accounts available throughout the year.
• Discover Bank Bonuses. As an online bank, Discover offers high and competitive rates on their Savings, CD, and Money Market accounts. Enjoy excellent customer service nationwide.
• TD Bank Bonuses. TD Bank consistently offers great Checking account bonuses all year long. Savings account offers are less frequently available.