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The Wells Fargo Cash Wise Visa® Card offers a $150 cash rewards bonus after spending $500 in the first 3 months along with a chance to earn unlimited 1.5% cash back on purchases. The Cash Wise Visa is a great card to have especially with the unlimited chances to earn cash back and no annual fees!
You don’t have to worry about category restrictions or those frustrating quarterly sign ups. The Wells Fargo Cash Wise Visa® Card gives you a chance to earn unlimited cash back and to top it off the cash rewards do not expire as long as your account remains open. The Wells Fargo card also provides a 0% Intro APR for 12 months on purchases and balance transfers (fees apply), then a 15.99%-27.99% variable APR; balance transfers made within 120 days qualify for the intro rate and fee.
Thus with this card, you can purchase larger items and earn 1.5% cashback with no worries of interest as you continue to pay it off. In addition you can enjoy 1.8% cash rewards on qualified mobile wallet purchases, like Apple Pay® or Google PayTM, during the first 12 months from account opening.
Table of Contents
Wells Fargo Cash Wise Bonus
|Ongoing Rewards/Benefits||Unlimited 1.5% cash rewards on purchases
Enjoy 1.8% cash rewards on qualified digital wallet purchases, like Apple Pay® or Google Pay™, during the first 12 months from account opening
Get up to $600 protection on your cell phone (subject to $25 deductible)
|Foreign Transaction Fees||3%|
Earn Unlimited 1.5% Cash Back
Wells Fargo Cash Wise Visa® Card offers you a chance to earn unlimited 1.5% cash rewards on your purchases. There's no hassling sign ups for quarterly categories or rotating categories to keep track of.
The card is straightforward with no fuss. Every purchase will earn you 1.5% cashback and there's no additional after thought. Wells Fargo knows you have other things you need to worry about. Therefore, they know this card will keep you sharp for other matters in your life.
Redeem Cash Back Rewards
Once you accumulate at least $25 in cash back rewards, you can redeem for statement credits, paper checks, or Wells Fargo bank account deposits.
As an exception to the $25 threshold, if you have a Wells Fargo debit or ATM card, you can redeem at ATMs in $20 increments.
If you prefer non-cash redemptions, you can redeem at the Go Far Rewards portal for gift cards, merchandise purchases, and travel purchases, like airfare and hotels. However, non-cash redemptions usually has less value than cash redemptions.
- Redeem at Wells Fargo ATMs: Enjoy the convenience of cash redemption of your rewards at more than 13,000 Wells Fargo ATMs nationwide. Cash redemption available in $20 increments.
- Cell Phone Protection: When you pay your monthly cell phone bill with your eligible Wells Fargo consumer credit card, you’ll get up to $600 of protection (subject to $25 deductible) against covered damage or theft.
- Chip Technology: For better protection against fraud when used at a chip-enabled terminal.
- Free Access to Your FICO® Credit Score: Find out where you stand when it comes to your credit. Get free access to your FICO® Score and more through Wells Fargo Online®.
Wells Fargo Cash Wise Benefits
The Wells Fargo Cash Wise Visa® Card is the go-to card for these reasons:
- A generous bonus. You can earn a $150 cash rewards bonus after spending $500 in the first 3 months
- Mobile wallet bonus. Apple Pay® or Google Pay™ users can enjoy 1.8% cash rewards on qualified mobile wallet purchases. This is valid from the first 12 months from account opening. If you have a smartphone and you haven’t tried using a mobile wallet, maybe this is a sign.
- Cash back on every purchase.Earn an unlimited 1.5% cash back on your purchases with no category limitations or pesky quarterly sign-ups and activation.
- 0% Introductory APR for 12 months on purchases and balance transfers (fees apply), then a 15.99%-27.99% variable APR; balance transfers made within 120 days qualify for the intro rate and fee. If you’re looking to make a large purchase soon or are trying to pay off another card, this is a great card to do so.
- Cash back rewards don’t expire as long as your account is kept open and stays in good standing.
- Cell phone protection. Get up to $600 protection on your cell phone, subject to a $25 deductible, against covered damage or theft when you pay your monthly cellular telephone bill with your card.
- Cash Track. This is a Cash Wise card-exclusive feature. Use it to help you keep track of your cash-back earnings. It’s available through the online banking website. View current rewards, set a rewards goal, redeem cash back, and more.
- Accepted worldwide. As a Visa credit card, if you’re out of the U.S., Cash Wise is accepted almost all over the world.
- No annual fee.
Wells Fargo Cash Wise Pitfalls
You may not like the Wells Fargo Cash Wise Visa® Card due to these reasons:
- Redemption in increments. Per Wells Fargo’s reward program, you can only redeem in increments of $25 (online and by phone) or $20 (with a Wells Fargo debit card at a Wells Fargo ATM). This means, if you have an extra few bucks in rewards, you may not be able to receive it all. But if you’re planning on keeping this card, in the long run, this may not be an issue to you.
- A foreign transaction fee. For purchases outside of the U.S., you must pay a 3% foreign transaction fee. That means any purchase made while traveling abroad, as well as purchases made from internationally based merchants. If you travel outside of the U.S. a lot, consider applying for a travel card instead that doesn’t have a foreign transaction fee.
- Very high regular APR potential. Currently, the Cash Wise’s variable APR ranges from 15.99%-27.99% variable APR.
If you frequently use Apple Pay® or Google Pay™ or you’re interested in using them, the Wells Fargo Cash Wise Visa® Card will give you a bonus 1.8% cash back for the first 12 months when you use a mobile wallet to pay for your purchases. That’s 20% more than the flat 1.5% return on all other purchases.
There is no cap on this elevated rewards rate. Neither pay service comes with any extra fees or charges. So, the 1.8% rewards rate doesn’t come at any additional cost. Part of the appeal of mobile wallets like Apple Pay® or Google Pay™ is the ability to leave your physical credit cards behind and simply use your smartphone as a payment method.
It gives you more wallet room. Plus, if you ever forget your wallet at home or elsewhere, simply use your smartphone for a hassle-free transaction. You may even get a cash back bonus on mobile wallet transactions as an incentive for using their services. Given this benefit, if you do end up getting the Wells Fargo Cash Wise Visa® Card, it’s a great offer to take advantage of.
Earning Cash Back
With the Wells Fargo Cash Wise Visa® Card, you earn an unlimited 1.5% cash back on your purchases. You won’t need to go through the hassle of signing up for quarterly categories. Plus, you don’t need to keep track of rotating categories.
Most other cards that are of a similar cash back earning type only offer you 1% on everyday purchases. Thus, you can easily see the benefit of 1.5% back on the Cash Wise.
In addition, you can receive loyalty bonuses. If you maintain a qualifying checking or savings account at Wells Fargo, you may receive an annual 10% bump on all non-bonus rewards earned with your Cash Wise card.
Redeeming Cash Back Rewards
You can redeem your rewards for gift cards, merchandise, travel, or cash. Wells Fargo is the only one of the 12 largest credit-card-issuing banks that lets you redeem rewards in $20 bills right at the ATM. Just use your Wells Fargo debit card at a Wells Fargo-owned ATM.
Or if you don’t have a Wells Fargo-owned ATM near you, you can redeem your rewards in $25 increments online and by phone.
The downfall is that you can only redeem your cash in increments. This may lower the effective rewards rate on your credit card. For instance, if you plan on redeeming your rewards online, you can redeem a minimum of $25.
However, if you stop using the card when your rewards balance is at $10, you wouldn’t be able to cash in on those earnings unless you spent at least $250 more. It may be a deal-breaker for you, depending on how long you plan to keep and use this card.
Cell Phone Protection
Available to all Wells Fargo cardholders, Wells Fargo Cash Wise Visa® Card users receive cell phone protection. Just pay your cell phone bill with this card or any other Wells Fargo card. If your phone is damaged or stolen, you’ll be covered for up to $600 per occurrence. The policy is subject to a $25 deductible and a maximum of 2 claims per 12 month period.
This is definitely a great card benefit, since it could potentially give you some well needed savings. It makes this card worth considering if you don’t have another of the issuer’s cards. You may need to take advantage of this deal if you tend to have phone accidents.
However, the cell phone coverage isn’t all-inclusive. The coverage is only for theft or damage. Phone accessories, pre-paid phones, cosmetic damage, and a few other exclusions won’t be covered.
Don’t expect to receive compensation if you lose your phone or if it’s damaged while under the care of a common carrier, such as the Postal Service. In addition, you must file a claim within 60 days of damage or theft or you will be denied.
You must send requested documentation in within 90 days from the date of damage or theft to avoid claim denial. The maximum benefit limit is $600 per claim and $1,800 per 12-month period. You will be reimbursed up to $600 or the price of the new phone, whichever is less.
The Wells Fargo Cash Wise Visa® Card provides you additional benefits, such as $600 protection on your cell phone, subject to $25 deductible, against covered damage or theft when you pay your monthly cellular telephone bill with your Cash Wise card. You can also rest easy knowing that all the hard earned cash back rewards will never expire as long as you keep the card open.
With the Wells Fargo Cash Wise card, you can spend knowing that all your purchases are earning you money for future use! Don't forget the chance to get a cash rewards bonus by meeting the spend requirement within the first 3 months of card opening.
As a Wells Fargo cardholder you also get the benefit of account protection with 24/7 fraud monitoring, rapid alerts and zero liability protection. So, don't hesitate as this card is perfect to have and to use in everyday spending without the hassle of annual fees or rotating cashback categories. See our full list of credit card bonuses for all your credit card needs!
What's the Competition?
The Chase Freedom Unlimited® Card offers double cash back. You'll earn 3% cash back on all purchases in your first year up to $20,000 spent. After that earn unlimited 1.5% cash back on all 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 a one-time $150 cash bonus after spending $500 on purchases within 3 months from account opening.
You'll be able to earn an unlimited 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.
The Capital One® SavorOneSM Cash Rewards Credit Card offers a one-time $150 cash bonus after spending $500 on purchases within the first 3 months from account opening.
You'll earn an unlimited 3% cash back on dining and entertainment, 2% at grocery stores and 1% on all other purchases with no rotating categories or sign-ups needed to earn cash rewards.
This card comes with no annual fee and no foreign transaction fees.
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