Wells Fargo Cash Wise Visa® Credit Card Review

Best for: people who want to be rewarded with cash back on every purchase

The Wells Fargo Cash Wise Visa® Card has something for everyone. For those who want to be rewarded, it offers cash back on every purchase and an excellent intro bonus. Plus there’s no annual fee and and an impressively-long introductory APR period for those who need to pay off a large purchase.

The basics of the Wells Fargo Cash Wise Visa®

• APR: 0% intro APR on purchases for 15 months, then variable purchase APR of 16.24% to 28.24%.
• Annual Fee: $0
• Reward Rates:  Earn 1.8% cash back on qualifying purchases using Apple Pay^TM  or Google Pay^TM during the first 12 months of opening your account and earn 1.5% cash back on all other purchases. 
• Intro Offer: Earn a $150 cash rewards bonus when you spend at least $500 on your card within the first three months of opening the account.

The Wells Fargo Cash Wise Visa® Card’s standout features

• Easy-to-track rewards: Rather than having to keep track of spending categories or tiered bonuses, this card keeps things simple by offering a flat 1.5% cash back on all purchases. However, during the first 12 months you have your account, you have the chance to bump your rewards up to 1.8% by using a qualifying mobile wallet service. 
• Multiple ways to redeem rewards: You can redeem your rewards at an ATM (in $20 increments), deposit them directly into your Wells Fargo account, or apply them as a credit to your mortgage through Wells Fargo. 
• Good introductory APR period: At 15 months, the 0% introductory APR period for both new purchases and balance transfers is longer than you might find with similar cards. 
• An attainable intro offer: Most credit cards require you to spend at least $1,000 in order to qualify for an intro bonus. The Wells Fargo Cash Wise Visa Card only asks you to spend $500, which makes it more attainable for light spenders.
• Cell phone protection: Earn up to $600 worth of cell phone protection against qualifying damage or theft when you pay your cell phone bill using your Wells Fargo card.

Best way to use the Wells Fargo Cash Wise Visa®

Since the Wells Fargo Cash Wise Visa Card offers a flat 1.5% on all purchases, your best bet to get the most out of this card is to use it for your everyday purchases. Plus, since the card offers a longer-than-normal, 15-month 0% introductory APR period on both new purchases and balance transfers, it is equally well set up to handle your large and small expenses.

However, beyond everyday spending, there are some things that you can do to level up the rewards from your Wells Fargo credit card. The first is to make sure that you put at least $500 on your card within the first three months of opening your account in order to earn the $150 cash rewards intro bonus. The second is to use a mobile wallet service like Apple Pay^TM  or Google Pay^TM during the first 12 months of opening your account to earn 1.8% cash back.

In a nutshell

All in all, the Wells Fargo Cash Wise Visa Card is a great choice for those who want rewards and value simplicity. By offering a flat cash back rate, this card ensures that you can still earn rewards without having the hassle of paying attention to rotating spending categories. Combined with its easier-to-reach intro bonus and 15-month 0% introductory APR, there are quite a few upsides to keeping this card in your wallet. 

That said, while the bump that it offers to 1.8% cash back on qualifying mobile wallet purchases does set it apart from other, similar cards on the market, you can better cash back rates elsewhere. If your main goal is to maximize your potential for cash back, you may want to consider going with the Citi® Double Cash Card instead. It’s still a flat cash back card, but you get 2% back in total – 1% when you buy an item and another 1% when you pay it off.