Is The Wells Fargo Active Cash Worth It?

Should you’re looking for a bank card with a easy rewards construction, you’ve probably thought of a flat-rate money again card. With any such card, you don’t should hold monitor of rotating bonus classes and even fastened tiered classes to earn money again rewards. You merely swipe your card and let the money again rewards pile up.

Since its launch, the Wells Fargo Energetic Money® Card has rapidly change into a standout within the flat-rate class attributable to its limitless 2 % money rewards on purchases. Right here’s a have a look at what the cardboard has to supply and elements to think about to determine whether it is price it for you.

When is Wells Fargo Energetic Money price it?

You favor simplicity

When it comes all the way down to it, Wells Fargo Energetic Money is a straightforward card for a easy cardholder. And that’s an excellent factor. Should you don’t have the time to activate rotating classes or calculate spending caps on bonus classes (or just don’t wish to do both of these), this is a wonderful card to think about.

It earns limitless 2 % money rewards with no class limitations or quarterly activations. Plus, you possibly can earn a $200 money rewards bonus if you happen to spend $500 within the first three months, and there’s no annual payment. Should you’re on the lookout for one thing that earns rewards with little effort and has no spending caps, that is the cardboard for you.

You propose to make a big buy quickly

Maybe you propose to purchase a big-ticket merchandise like a brand new laptop computer or washer, however you don’t have sufficient funds proper now to pay for it unexpectedly. Nicely, Wells Fargo Energetic Money has a stable introductory APR provide: 0 % intro APR on new purchases for 15 months from account opening (20.24 %, 25.24 % or 29.99 % variable APR thereafter). If 15 months is lengthy sufficient to repay your new buy, Wells Fargo Energetic Money may provide help to save on curiosity.

You wish to switch high-interest debt

Alternatively, perhaps you’ve some bank card debt that you simply collected from a high-interest card and wish to switch that steadiness to a card that gives an introductory APR on steadiness transfers. Wells Fargo Energetic Money additionally has a stable intro APR provide for qualifying steadiness transfers: 0 % intro APR for 15 months from account opening on qualifying steadiness transfers made inside 120 days of account opening (20.24 %, 25.24 % or 29.99 % variable APR thereafter).

You also needs to know there’s an intro steadiness switch payment of three %, or a minimal of $5, on steadiness transfers carried out through the first 120 days. After that, the payment will go as much as 5 % (minimal of $5).

You need higher card advantages with out paying an annual payment

As if the excessive money rewards fee, welcome bonus and introductory APR gives weren’t sufficient, this card comes with further options which are sometimes discovered solely on playing cards with annual charges. These options embrace cellphone safety (if you happen to pay your month-to-month cellphone invoice with the cardboard; phrases apply), an auto rental collision harm waiver, journey and emergency help providers, Visa Signature Concierge Providers and extra. This makes the Wells Fargo Energetic Money card suited to even essentially the most cautious cardholders.

Observe that, for the cellphone safety profit, you’ll rise up to $600 per declare towards harm or theft (most of two claims per 12 months, minus a $25 deductible).

You want combining playing cards

Wells Fargo just lately introduced that points-based journey playing cards would have the flexibility to switch factors to journey companions underneath their new “Factors Switch” program. Whereas this is applicable to the Autograph line of playing cards, it’s now potential to pool factors from the Wells Fargo Energetic Money card with the brand new Wells Fargo Autograph Journey^SM card, as properly.

Much like different frequent card combos, just like the Chase trifecta or Citi trifecta, now you can pool the rewards you’ve earned together with your Energetic Money and Autograph Journey playing cards. You’ll be able to then switch these rewards to collaborating associate packages for much more worth.

When is the Wells Fargo Energetic Money not price it?

You get pleasure from rotating class bonuses

Should you like incomes boosted rewards on classes that rotate every quarter, this isn’t the cardboard for you. The identical goes if you happen to get pleasure from boosted rewards classes of any sort.

The Wells Fargo Energetic Money card gives a flat 2 % money again on all purchases, which makes it among the finest flat-rate money again gives you’ll discover. Nonetheless, you gained’t earn boosted rewards charges in sure classes right here — like 3 % money again on groceries or 5 % money again on journey purchases.

You wish to redeem money rewards straight for journey

Although chances are you’ll redeem your money rewards for journey by way of the Wells Fargo Rewards journey portal, we’d advise towards it. The journey portal isn’t practically as strong as some others, like Chase Final Rewards.

Extra redemption choices embrace money from a Wells Fargo ATM (in $20 increments), direct deposits to an eligible Wells Fargo checking or financial savings account, assertion credit and reward playing cards.

Must you get the Wells Fargo Energetic Money?

All in all, it’s an excellent card to have. In reality, this card’s flat-rate 2 % money rewards providing makes it among the finest money rewards playing cards in the marketplace. For bank card fans who like taking part in with completely different card combos, you possibly can use the Wells Fargo Energetic Money as an on a regular basis spending card and redeem your money rewards at a 1:1 ratio. To maximise your rewards, you possibly can even pair the cardboard with one which earns boosted rewards on sure classes of spending, like journey.

For brand spanking new cardholders who don’t need an excessive amount of problem, the flat fee eases any potential headache towards maximizing bonus classes. You’ll be able to merely use this card in your purchases, and the two % money rewards will add up sooner than you notice. You’ll be capable to redeem your rewards for bodily money, reward playing cards or assertion credit quickly sufficient.

The underside line

The Wells Fargo Energetic Money may make numerous sense for the appropriate individual in the appropriate circumstance. And since there’s no annual payment, there’s not a lot to lose. Should you aren’t fairly certain about this card, you should use Bankrate’s CardMatch™ software to take a look at different bank cards you is perhaps eligible for.