Wells Fargo Cash Wise Visa® Credit Card Review Credit Card 5 2016-11-14 10:51:17

Wells Fargo Cash Wise Visa® Credit Card Review

Apply for a Wells Fargo Cash Wise Visa® Credit Card
Rating:
Bottom Line:
Best for Wells Fargo customers who want to earn 1.5% cash back; $150 bonus opportunity; 0% intro APR for 12 months on purchases and balance transfers

Full Review:
The Wells Fargo Cash Wise Visa® Credit Card is great for Wells Fargo customers who are interested in a card with no annual fee that earns cash rewards and provides a 0% intro APR on balance transfers and purchases.

This card starts off with a very nice $150 intro bonus after you spend $1,000 in the first 3 months. Plus, you'll earn an ongoing unlimited 1.5% cash back on all your purchases. It's a convenient way to get cash rewards on everything you buy with your card, without having to sign up for rotating categories or jump through any additional hoops. As an added bonus, during the first 12 months you have your card you'll earn 1.8% back when using Android PayTM and Apple PayTM mobile wallets. Plus, your potential cash back is unlimited, so you can use your card as much as you want, knowing you won't run into any cash back limits.

You can redeem your cash rewards as a direct deposit to your Wells Fargo checking or savings account, through a Wells Fargo ATM in $20 increments (note that you need a Wells Fargo Debit or ATM card to do this), via statement credit, or by requesting a paper check. You also have the option of applying your cash back as a credit to a qualifying Wells Fargo credit product like a mortgage or loan. Or you can use them to buy gift cards, merchandise or travel via their online portal. An important consideration is that if you're not a Wells Fargo customer, the only way to redeem your rewards as cash is by requesting that a paper check be physically mailed to you or by getting a statement credit - you can't have your cash back deposited to a non-Wells-Fargo account.

In addition to the cash rewards, Wells Fargo Cash Wise Visa® Credit Card features a 12-month 0% intro APR on both purchases and balance transfers. This can be very helpful in making any large (or small) purchases, as it gives you over a year of interest-free time help pay down your balance. It's almost like an interest-free loan for 12 months on things you buy with your card. Plus, if you're carrying a balance on other high-APR cards you can save some money but transferring your balance over to this card. There is an introductory balance transfer fee of 3% for 12 months, after that the fee is 5%. Although it's never fun to pay fees, it might be worth your while - to find out for sure either way use our free Balance Transfer Calculator.

Wells Fargo Cash Wise Visa® Credit Card includes an unusual and intriguing benefit - cellular (aka, mobile) telephone protection. This feature will reimburse you for damage or theft to your mobile phone, up to $600 per claim. There is a $25 deductible and a maximum of 2 claims in a 12-month period, but it's still a pretty awesome card perk. To qualify you just need to use your card to pay for your monthly cellular wireless telephone bill, which is pretty easy to set up with your mobile phone provider.

Overall this is a solid combination cash back and 0% intro APR card with a $150 intro bonus, although it leans heavily to the Wells Fargo customer base. If you're not a Wells Fargo customer, redeeming your rewards for cash back is a bit more challenging - you might want to consider becoming one if you have your eye on this card. Or take a look at the non-bank-denominational Chase Freedom Unlimited card which also offers 1.5% unlimited cash back as well as a $150 intro bonus.

Highlights
  • Earn $150 cash rewards bonus after spending $1,000 in the first 3 months
  • Earn unlimited 1.5% cash rewards on virtually every purchase
  • Enjoy 1.8% cash rewards on qualified mobile wallet purchases, like Apple Pay® or Android Pay™, during the first 12 months from account opening
  • Cash rewards don't expire as long as your account remains open
  • $0 Annual Fee
  • 0% Intro APR for 12 months on purchases and balance transfers, then a 13.49%-25.49% variable APR; balance transfer fees apply
  • Get up to $600 protection on your cell phone (subject to $25 deductible) against covered damage or theft when you pay your monthly cellular telephone bill with your Wells Fargo Cash Wise Visa® Credit Card
  • Select "Apply Now" to learn more about the product features, terms, and conditions

Rewards
  • Earn an unlimited 1.5% cash back on all net purchases.
  • Earn 1.8% cash rewards on Android PayTM or Apple PayTM mobile wallet net purchases during the first 12 months from account opening.

Redeem Rewards
  • Redeem rewards for cash back via direct deposit to a Wells Fargo savings or checking account, at a Wells Fargo ATM, or by physical check. You can also redeem for gift cards, merchandise and travel.

Fees and APR
  • Annual Fee: $0
  • Foreign Transfer Fee: 3% of each transaction converted to U.S. dollars.
  • Purchase APR: 0% intro APR for 12 months, then 13.49%-25.49% (variable), depending on credit history.
  • Balance Transfer APR: 0% intro APR for 12 months, then 13.49%-25.49% (Variable), depending on credit history.
  • Introductory Balance Transfer Fee: 3% for 12 months, then 5%.


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Card Details

Purchase APR:0% intro APR for 12 months, then 13.49%-25.49% (variable)
Features:Earn $150 bonus after spending $1,000 on purchases in the first 3 months; earn 1.5% cash back on all net purchases
Annual Fee:$0
Credit Needed:Excellent / Good

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