Wells Fargo Active Cash – How to apply
The Wells Fargo Active Cash credit card is a straightforward credit card that offers great rewards with no hassle.
It gives you 2% cash back on every purchase, plus a $200 bonus if you spend $500 in the first 3 months.
With no annual fee and a 0% intro APR for the first 12 months, it’s a solid choice for anyone looking to earn rewards without any complicated categories to track. Want to learn more?
Keep reading to see how it works and if it’s the right fit for you!
Wells Fargo Active Cash
No annual fee. Balance transfer fee applies.How does the Wells Fargo Active Cash work?
When you sign up for the credit card, you’ll have access to a credit limit based on your financial history and credit score. Once you receive your card, you can use it just like any other credit card.
For every purchase you make, you’ll earn 2% cash back, which gets added to your rewards balance.
The best part? There are no rotating categories or spending limits to worry about. You earn 2% on every dollar spent, whether it’s groceries, gas, online shopping, or dining out.
Each month, you’ll get a statement showing your purchases, the cash back you’ve earned, and your payment due. If you carry a balance, you’ll pay interest, but you can avoid that by paying your bill in full by the due date.
You can redeem your rewards at any time, either as statement credits, for gift cards, or even for cash at ATMs.
Main benefits for the Wells Fargo Active Cash
The Wells Fargo Active Cash credit card offers several attractive benefits that make it stand out.
First, there’s the 2% cash back on all purchases. This means you earn rewards no matter what you buy, making it a great card for everyday spending. No need to remember categories or track spending limits.
You also get a $200 bonus after spending $500 in the first three months, which is a nice reward for signing up.
Another benefit is the 0% intro APR for the first 12 months on purchases and qualifying balance transfers. This can help you save money on interest if you need time to pay off large purchases or transfer debt from other credit cards.
Additionally, there’s no annual fee, so you won’t have to worry about paying extra just for having the card.
Plus, Wells Fargo offers convenient ways to redeem your rewards, including statement credits, gift cards, or even cash at ATMs.
You will be redirected
Cons for the Wells Fargo Active Cash
While the Wells Fargo Active Cash has many benefits, there are some downsides to consider.
One of the main drawbacks is that, after the 0% intro APR period, the card comes with a high regular APR.
If you don’t pay off your balance in full by the end of the 12 months, you’ll be charged interest at a higher rate, which can add up quickly.
Lastly, while the card has great rewards, it’s not the best option for travelers who want perks like airport lounge access or travel insurance. This card focuses mainly on cash back, so if you’re looking for more travel-related benefits, you might want to explore other options.
APR and fees
The Wells Fargo Active Cash offers a 0% intro APR for the first 12 months on purchases and qualifying balance transfers, making it great for large purchases or transferring high-interest debt.
After 12 months, the APR increases to a variable rate between 19.24% and 29.24%, depending on your credit. If you still have a balance after the intro period, you’ll pay higher interest.
There’s also a 3% balance transfer fee (or $5, whichever is greater). However, there’s no annual fee, which makes the card more affordable.
How to apply for the Wells Fargo Active Cash
Applying for the Wells Fargo Active Cash is straightforward. To get started, visit the Wells Fargo website or go to a local branch.
You’ll need to provide some personal information, including your name, address, and income. Wells Fargo will use this information to assess your eligibility based on your credit history and financial situation.
If you’re approved, you’ll receive your card in the mail. Once you get it, activate the card either online or by phone, and you can start using it right away.
Be sure to read through the terms and conditions, especially the details about the intro APR, balance transfers, and cash back rewards. If you’re transferring a balance, you can request that when you apply, but make sure you’re aware of the fees involved.
It’s a good idea to make sure you can meet the spending requirements to earn the $200 bonus within the first three months. After that, just keep using the card for everyday purchases to start earning your 2% cash back! Good luck!
