Review Of The Wells Fargo Cash Wise Visa Credit Card 0

The Wells Fargo Cash Wise Visa (learn more) is one of many cash back cards that you might be considering. But is it a good choice for you? Simple Flying’s review of the Wells Fargo Cash Wise card breaks down all the details.

Earn unlimited cash back on every purchase, with no restrictions.

Overview

With this card, you can expect…

  • 1.5 percent cash back on all purchases
  • 1.8 percent cash back on Google Pay, Samsung Pay, Wells Fargo mobile wallet and Apple Pay purchases for your first cardholding year
  • $200 if you spend $1,000 in the first three months
  • No category restrictions
  • Cash Rewards points do not expire
  • $600 of cell phone insurance to cover damage or theft when you pay your bill with your card
  • 0 percent APR for 12 months on purchases and balance transfers, followed by a 16.24–27.24 percent variable APR
  • No annual fee
  • No annual bonus

Welcome Bonus

The welcome bonus is $200 after you spend $1,000 in purchases in the first three months. That’s not a bad value at all and it’s not difficult to reach the $1,000 spending requirement. Considering this card comes with no annual fee, that makes this welcome bonus even more solid.

Earning Potential

You’ll earn 1.5 percent cash back on all your purchases, no restrictions, and the Cash Rewards points that you do earn never expire as long as the account is open. There’s no limit to the amount of cash back you can earn.

One of the perks of this card is that, for the first 12 months, you’ll additionally earn an extra 0.3 percent back on qualified mobile wallet purchases (via Apple Pay, Samsung Pay, the Wells Fargo mobile wallet and Google Pay), for 1.8 percent cash back.

This Wells Fargo card is one of the few that allows you to withdraw cash from ATMs.

You cannot redeem your cash back, however, until you’ve reached at least $20 and then you have to redeem your cash back in $20 increments through a Wells Fargo debit card or Wells Fargo ATM, or in $25 increments online or by phone. If you do neither of these, Wells Fargo can simply mail you a check.

In addition to redeeming your cash back for cash, you can also use it to pay down a Wells Fargo loan, or redeem it for gift cards, select merchandise and charitable donations.

Cell Phone Protection and Other Perks

Protect your cell phone from theft and damage with your Wells Fargo card.

Like other Wells Fargo cards, the Wells Fargo Cash Wise Visa comes with cell phone insurance, a nice perk that most credit cards do not have (learn more). So, if you pay your cell phone bill with the card, you’ll receive insurance with coverage up to $600 in the event of a damaged or stolen phone. You can only file two claims per 12 months and you do have to pay a $25 deductive.

Another unique perk is the ability to choose your due date. You can pick exactly when you’d like to pay your payment, just in case there’s a month when money is stretched thin.

Other pretty standard perks that you can expect with this card include extended warranty, purchase protection, zero liability, chip tech and emergency card replacement.

The zero liability protection protects you from liability for unauthorized transactions if you report those transactions in a timely manner. Chip technology ensures better protection against counterfeit fraud and you’ll receive alerts of any suspicious technology. You will receive emergency card replacement and cash disbursement in the event of a lost or stolen card.

Auto rental collision damage waivers cover you in case of collision or theft damage.

Overall

This card really shines if you’re looking for an option that rewards you across the board, on all your purchases, no restrictions (read more).

It’s not such a good option if you’re looking to earn big in categories like travel and dining. Instead, it’s better to look at some of the more premium travel credit cards. Another downside for frequent travelers is the fact that this card does come with a 3 percent foreign transaction fee.

It’s also not best for those who intend to carry a balance, or who don’t have a great credit score, due to that regular APR after the first 12 months.

This card is best for those seeking simplicity and a little extra reward for their spending, but who have no desire nor time to seek out the big travel or spending rewards from a credit card.

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