Credit Cards » Credit Card Reviews » Wells Fargo Cash Wise Visa Credit Card Review 2021
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Wells Fargo Cash Wise Visa Credit Card Review 2021

Wells Fargo Cash Wise Visa Card is a great cashback card for customers who don't want to stop and think about every purchase they make.

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In This Review..

Wells Fargo Cash Wise Visa Card is a straightforward cashback card. This card offers a simple 1.50% back on all purchases with no limit or special categories.

This card offers many benefits to those wanting a simple straightforward card. It does not come with an annual fee and has a decent sign-up bonus  of $150 cash rewards bonus when you spend $500 on your new card within the first 3 months.

Wells Fargo Cash Wise

Wells-Fargo-Cash-Wise-Visa-Card

On Wells Fargo’s Secure Website

Rewards Plan

Unlimited 1.5% cash rewards on purchases

Sign up Bonus

$150 cash rewards bonus

0% Intro

0% introductory APR on purchases and balance transfers for the first 15 months

PROS

CONS

APR

14.49% - 24.99%

Annual Fee

$0

Balance Transfer Fee

$5 or 5%

Credit Requirements

Good – Excellent

Many cash back rewards cards in a category similar to that of the Wells Fargo Cash Wise Visa Card come with an annual fee which eats into your cashback rewards.  

Card & Issuer Reputation

  • 3.6/5  on WalletHub customer reviews (+200 reviews): WalletHub customer reviews allow customers to post positive, negative or neutral reviews about marketplace experiences.
  • 800/1000 on J.D Power: Wells Fargo got 800 out of 1000 available points on J.D. Power credit card satisfaction survey,  lower than the industry average. J.D Power offers the most comprehensive and independent study of customer satisfaction of card issuers . The study aims to help consumers and issuers to understand user opinions and ratings of the largest bands. It covers terms, benefits, services, communication, rewards and more.

J.D. Power U.S. Credit Card Satisfaction Study 2020

In order to avoid bias based on a small number of reviews, we present only ratings with at least 200 reviews.

Benefits

Let’s take a look at the benefits of the Wells Fargo Cash Wise Visa card and see if it’s the right one for your wallet or not

Wells Fargo Cash Wise Visa Card offers a $150 cash rewards bonus when you spend $500 in purchases in the first 3 months.

Wells Fargo Cash Wise Visa Card does not come with an annual fee. 

You do not have a spending threshold to meet to offset any annual fee. You can start putting cash back in your pocket immediately.

If you are looking to save money on interest, the Wells Fargo Cash Wise Visa Card offers a 0% introductory rate for 15 months on balance transfers.

If you have a credit card that you are trying to pay down, you can transfer the account and pay no interest on the transfer for 15 months. You can also charge up the card and pay no interest for 15 months on your purchases.

Many cards out there will have zero APR introductory rates but also will give you the points or cash back on the spending you do.

Remember: If you do not pay off the bill in the allotted time, all deferred interest is charged to your card.  

The card has cell phone protection if you pay your monthly bill with Wells Fargo Cash Wise Visa Card. Wells Fargo will replace your cell phone if lost or stolen up to $600 and with a $25 deductible.

The Wells Fargo Cash Wise Visa Card has a 1.50% on all purchases with no limits. The Cash Wise Card has no special categories for spending or rotating categories.

It is a straight 1.50% back with no expiration – cash rewards do not expire as long as the account is open.  

Wells Fargo Cash Wise Visa Card has 3 different ways you can redeem your cash back. You can apply it to your credit card as a credit. 

You can deposit the rewards directly into your checking account, or you can withdraw it from an ATM in $20 increments.

Having a card through Wells Fargo means you can earn more cash back through their Earn More Mall. Many retailers offered through this program may be places you already shop.

You can juice your cash back in the first 15 months by earning 1.80% cash back when you use mobile payment apps such as Google Pay and Apple pay.  

Wells Fargo Cash Wise Visa Card has zero liability on unauthorized transactions. 

It has chip-enabled security and alerts for suspected transactions. You can also get auto rental collision damage waiver and emergency card replacement.

Drawbacks

Here are the most important cons you should consider before apply:

There is a balance transfer fee required if you want to take advantage of the introductory 0% APR rate. The fee is incurred when you transfer debts from one or more credit cards to your Wells Fargo Cash Wise Visa Card. This fee is $5 or 5% of the transfer, whichever is bigger.

This fee is upfront and will be added to your debt load when transferred. The fee is also increased after the first 120 days of opening the card to a 5% fee of balance transfers.  

Wells Fargo Cash Wise Visa Card has minimum redemption amounts of $25 for credit on your credit card or to transfer to your checking. To use the ATM option the minimum redemption amount is $20. There are other cards that do not have a minimum redemption amount and cashback rewards can be used at any time.

The APR for the Wells Fargo Cash Wise Visa Card is a 14.49% – 24.99% variable rate, which is high for a card that requires borrowers with good to excellent credit histories.

Cash advance is 23.99% – 25.99%.  

Wells Fargo Cash Wise Visa Card has a 3% fee for each transaction in another country. If you are traveling outside of the US, you may want to leave this card at home. 

Application Process

Visit the Wells Fargo Cash Wise Visa Credit Card homepage and click “Apply Now.” 

Next, fill in your personal details such as your names, address, city, email address, etc.

Then, indicate your finances, which include your housing and employment status.

Next, go through the card options and tick the appropriate boxes.

Lastly, tick the acknowledgment box and click “Submit.”

Alternatives

There are other credit cards that do offer comparable cash back rewards – we’ve summarized the most popular cards which can use as an alternative to the Wells Fargo Cash Wise VisaCard:

The Wells Fargo Propel card boasts a similarly easy and generous rewards program. Customers earn 3% rewards (or 3 points) for every dollar spent across most major purchase categories, including dining, entertainment, flights, hotels, car rentals, gas station purchases, and even media streaming like Hulu and Netflix.

The Wells Fargo Propel card doesn't have an annual fee it and comes with an  0% intro APR on purchases and balance transfers for 15 months. After that, your APR will be 14.49% – 24.99%, based on your creditworthiness

It also offers one of the most competitive sign-up bonuses out there: 20,000 bonus points (or $200 in cash back) when you spend $1000 on your new card within the first 3 months.   

CitiBank Double Cash card is a comparable cashback card.

The CitiBank Double Cash card offers 1% cash on all purchases and 1% cash back after paying for those purchases. You could make 2% back on all purchases as long as you pay your credit card bill.

The card boasts a lengthy 18-month period of 0% fees on all balance transfers. After this period each transfer requires paying a variable APR between 13.99% – 23.99% .

CitiBank Double Cash rewards does not have an annual fee.

This card’s cash back is on all purchases just like Wells Fargo Cash Wise Visa Card. But to earn the ½ of the cash back, you need to pay your bill. If you plan on carrying a balance you will not unlock the full 2% initially.   

The Capital One SavorOne Cash Back rewards credit card is a no annual fee card and will help you earn cash back rewards on everyday activities.

It offers Unlimited 3% cash back on dining and entertainment, 2% at grocery stores (excluding superstores like Walmart® and Target®) and 1% on all other purchases..

You can enjoy the generous 0% intro APR for 15 months 0% on balance transfers and APR to help you pay down an existing balance you may have or pay off new purchases slowly, as well as a One-time $200 cash bonus once you spend $500 on purchases within the first 3 months from account opening sign up bonus.

On the negative side, this card has higher than average APR and 3% balance transfer fee.  

Bank of America Cash Rewards is a cashback rewards card that allows card holders to pick their own bonus category for the 3% cash back in the category of your choice: gas, online shopping, dining, travel, drug stores, or home improvement/furnishings, 2% cash back at grocery stores and wholesale clubs, 1% cash back on all other purchases. You’ll earn 3% and 2% cash back on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter, then earn 1%..

Bank of America Cash Rewards does not have an annual fee and you'll get $200 cashback bonus after you spend 1000 within the first 90 days on eligible purchases. If you are looking to save money on interest, the Bank of America Cash Rewards offers a 0% introductory rate for 12 months on balance transfers. However, there is a 3% balance transfer fee required if you want to take advantage of the introductory 0% APR rate.

The APR for the Bank of America Cash Reward is a 13.99% – 23.99% variable rate.  

Is the Wells Fargo Cash Wise Visa Card Right for You?

Wells Fargo Cash Wise Visa Card is a great cashback card for customers who don’t want to stop and think about every purchase they make, as far as whether they’re getting the most cash back or not. 

This card offers a straight 1.5% cashback on all purchases, so there are no categories or special purchases needed to earn the cash back. 

Customers may be able to earn higher rewards with other cards, but those cards usually have more hoops to jump through to get the cash back.

This card is great for customers who just want one credit card for all their purchases with a decent cashback reward and no annual fee.  However, this card is not intended for international travel so you may want to leave this card at home when traveling abroad.

Credit Card Reviews Methodology

In order to determine the best possible credit cards, we look at things like fees, interest rates and rewards. We do this with companies that are associated with us as partners as well as other offerings. From there, we make a decision about what the best card is related to different categories and needs. We focus on interest rate cost & fees, especially the cost of carrying a balance, rewards – cards accumulate rewards in different currencies—points, miles, cash back—and their values vary widely usability – cards that accept a wide range of credit profiles and offer simple solutions for things like checking your credit score or contacting. We also consider customer reviews.

We look at cards related to good or excellent credit ratings that will then provide a range of different benefits and improvements for someone who has these scores. We also look at low fees when it comes to those who have lower credit scores.