A credit card with flat cashback benefit is versatile because you don’t have to worry about categories, spending tiers. You can use it for all purposes and constantly keep earning points. Wells Fargo Cash Wise comes with a Flat Cashback Reward structure and an attractive joining bonus once you meet the spending criteria.
We will be reviewing the Wells Fargo Cash Wise card and how it stacks against similar cashback cards.
Benefits of Wells Fargo Cash Wise
Reward Earnings
Wells Fargo Cash Wise is simple to use wherein every purchase made earns you 1.5% cash back. During the first 12 months you could maximize your reward earnings if you use a mobile wallet such as Google Pay and Apple Pay. When you make a purchase using the approved digital wallets your purchase would earn cashbackat 1.8 % instead of 1.5%.
What is wonderful about the Wells Fargo Cash Wise is that there are no category restrictions for earning rewards, neither do you have to activate a category to earn cashbackand your cashbackrewards are not based on your levels of spending.
Enhance Rewards
By shopping at Earn More Mall, you can earn extra Go Far Rewards points. You can find promotional offers from various retailers such as Macys, Home Depot, CVS, Office Depot and more. You can access Earn More Mall site from this link to learn more about it. To get the maximum benefits, be sure to have a glance at the promotional terms and conditions.
Attractive Intro APR
A good to excellent credit score is required to qualify for Wells Fargo Cash Wise credit card.
Wells Fargo Cash Wise gives you 15months of 0% interest as part of the intro APR offerings on purchases and balance transfers. To receive the intro APR, a balance transfer request should be placed within 120 days of opening your account.
You are charged a balance transfer fee based on the time of transfer. You could get the introductory fee for the transfer within 120 days of account opening or the fee charged could go up to 5% of each balance transfer.
When applying for this card, it must be noted that you would ineligible for an APR offer or rewards bonus if in the last 15 months you have received an intro APR offer or bonus/ fees for another Wells Fargo credit card that you applied to. This rule applies even if the older card is active with zero balance or the account is closed.
Cell Phone Protection
Cell phone coverage protects your phone against theft and damage incidents. To be eligible for this coverage you must pay your phone bill using your Wells Fargo consumer credit card. The coverage is limited to $600 per claim and $1200 per year. You are allowed to make two claims at max and a $25 deductible is applicable. The coverage is not available if the phone is borrowed or on a rental or if it is part of a prepaid service plan. This is secondary supplemental coverage to other insurance policies. View the link provided here to know about the cell phone protection coverage details.
Fraud Coverage
Apart from these benefits, the Cash Wise Visa card has security benefits such as zero fraud liability, fraud alerts, and 24/7 fraud monitoring to detect any suspicious activity on your account.
Travel Benefits
Wells Fargo Cash Wise Visa card doesn’t have travel benefits such as airline credit or lounge access but you do get car rental insurance, travel accident insurance, and travel and emergency assistance services.
Through car rental insurance your rental vehicle has a protection coverage against collision, damage and theft. You get coverage up to 15 consecutive days for your rental vehicle. If you require emergency card replacement or translation services you can reach out to travel and emergency assistance as the service is available 24/7 and 365 days a year.
Let’s look at other cards comparable to Wells Fargo Cash Wise
We are comparing Wells Fargo Cash Wise with Chase Freedom Unlimited and Capital One® Quicksilver Cash Rewards as they fall in the flat cashback category.
| Wells Fargo Cash Wise Visa Card | Chase Freedom Unlimited | Capital One® Quicksilver Cash Rewards | |
| Annual Fee | $0 | $0 | $0 |
| Welcome Bonus | If you spend $500 within 90 days of account opening, you can receive $150 welcome bonus. | If you spend $500 within 90 days of account opening, you can earn $200 as a welcome bonus | If you spend $500 within 90 days of account opening, you can earn $200 as a welcome bonus |
| Intro APR Offers | 0% APR for the initial 15 months on purchase and balance transfers followed by variable APR | 0% APR for the initial 15 months on purchase and balance transfers followed by variable APR rates of 14.99%–23.74% | 0% APR for the initial 15 months on purchase followed by variable APR rate of 15.49% – 25.49% |
| CashbackRewards Rate | 1.5% | 1.5% | 1.5% |
| Other Rewards | Earn 1.8 % cash rewards on your purchases within the first year when you use qualified mobile wallet for payments | Increase the points value by combining your points with a premium Chase card such as Sapphire Preferred and redeem it for travel through Ultimate Rewards | None |
| Foreign Transaction Charges | 3% of the amount of each transaction after conversion to US dollars | 3% of the amount of each transaction after converting to US dollars | No Foreign Transaction Fee |
| Options to Redeem Points | Cash, charitable donations, shopping, gift cards and travel. | Statement credit, direct deposit to savings or checking account, gift cards, travel bookings through Ultimate Rewards and shop at Amazon.com | Statement credit, purchase eraser, gift cards and check. |
| Other benefits | Travel Accident Insurance, Auto Rental Collision Damage Waiver, Road Dispatch Assistance,Emergency Card Replacement,Travel and Emergency Assistance.Cell Phone Protection. | Extended Warranty,Purchase Protection,Lost Luggage Reimbursement,Travel Accident Insurance,Auto Rental Collision Damage Waiver,Trip Cancellation/Trip Interruption Insurance | Price Protection,Extended Warranty,Travel Accident Insurance, Auto Rental Collision Damage Waiver, Baggage Delay Insurance,Travel and Emergency Assistance,Trip Cancellation/Trip Interruption Insurance |
Conclusion
All the cards offer similar rewards but factors such as foreign transaction fee, redemption options and other benefits are the influencing points based on which you would be able to pick a suitable card. Wells Fargo Cash Wise Visa is a strong contender among cashback cards and if you have a Wells Fargo bank account then you can set up autopay for timely repayments and easy banking.
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