Wells Fargo Cash Wise Visa® Card Review

Apply Now
on Wells Fargo's secure site
The Wells Fargo Cash Wise Visa® offers solid cash back rewards, low fees, and simplicity. However, it is not open to new applicants.
  • Annual Fee:
    $0
  • Regular APR:
    14.49% - 24.99% Variable APR
  • Recommended Credit Score:
    670 - 850

Disclaimer: This post contains references to products from one or more of our advertisers. We may receive compensation (at no cost to you) when you click on links to those products. Read our Disclaimer Policy for more information.

Choosing your credit card is an essential decision because you can receive many benefits if the card you choose matches your lifestyle.

If you are looking for a good credit card for everyday use and has simple cash rewards, then the Wells Fargo Cash Wise Visa® is a noteworthy option. This credit card offers a variety of decent benefits and requires no annual fee, which is a powerful combination.

There are many available credit cards to choose from, so it is important to see how the Wells Fargo Cash Wise Visa® matches up to other credit cards before you make a decision.

Wells Fargo Cash Wise Visa® Credit Card Pros and Cons

Pros:

  • There are no annual fees
  • There is a 0% introductory APR period on qualifying balance transfers and purchases
  • $150 welcome bonus
  • Receive 1.5% cash back on purchases
  • Cellular Protection

Cons:

  • Poor credit card for international travel because of the 3% foreign transaction fee
  • Requires good or excellent credit
  • Rewards are not able to be continuously redeemed
  • Below average customer satisfaction

What Is the Wells Fargo Cash Wise Visa® Card?

The Wells Fargo Cash Wise Visa® is a reliable cash back credit card, particularly for those who want good value and simplicity.

The card has a variety of suitable benefits, as well as a solid welcome bonus. If you plan on purchasing items in the United States and want decent cash back rewards, then this card could be great for you.

How Does the Wells Fargo Cash Wise Visa® Card Work?

The Wells Fargo Cash Wise Visa® provides customers with an adequate credit card for day-to-day purchases. It offers 1.5% cash back on any purchase, and it does not charge an annual fee.

Although there are better credit cards available, the Wells Fargo Cash Wise Visa® will appeal to certain individuals.

The card presents itself to those who prefer simple rewards with a single rate for all spending and those who are trying to avoid annual fees.

The card is straightforward with an uncomplicated rewards system, making it a solid option for everyday use.

Wells Fargo Cash Wise Visa® Card Review

  • Annual Fee: Customers will be glad to see no annual fees for the credit card.
  • Annual APR: The APR ranges from 14.49% to 24.99%. This may raise concerns with applicants because they are not sure which end of the APR range they will be matched up with. Due to the potentially high APR, the card is not recommended to those carrying a balance from month to month.
  • Rewards: There are a variety of benefits when using the Wells Fargo Cash Wise Visa, including cash back on purchases, low spending requirements for the welcome bonus, and a 0% introductory APR.
  • Foreign Transaction Fee: If you intend to make many foreign payments, this card is not for you. There is a 3% foreign transaction fee, whether you are abroad or paying through an internationally based merchant.
  • Sign-Up Bonus: The Wells Fargo Cash Wise Visa® offers a $150 welcome bonus after spending $500 in the first three months of opening the account.

Wells Fargo Cash Wise Visa® Card Rewards

If you choose the Wells Fargo Cash Wise Visa, you will enjoy the uncomplicated rewards with a single rate for all purchases.

Earning Rewards

As well as the 1.5% cash back on all purchases, the Wells Fargo Cash Wise Visa® allows you to earn an extra 20% digital wallet transaction bonus cash reward on top of the standard 1.5%. This adds up to a total of 1.8% cash rewards during the first year.

Redeeming Rewards

When redeeming your cash rewards through the phone or online, they are only available in $25 increments. If you try to redeem cash through a Wells Fargo ATM, the redemption is only available in $20 increments.

If you are trying to withdraw cash from a Wells Fargo ATM, you must have a Wells Fargo Debit or ATM card to redeem your rewards.

Wells Fargo Cash Wise Visa® Credit Card Features and Benefits

The Wells Fargo Cash Wise Visa® offers a wide variety of benefits, ranging from cash back rewards to a 0% introductory APR. Before you decide whether or not you want this card, you should definitely take a look at what it has to offer.

No Annual Fee

If you are opposed to annual fees or are trying to save money across the board, then the Wells Fargo Cash Wise Visa® is an excellent option. You don’t have to worry about any annual fees, allowing you to save money every year.

Solid Sign-Up Bonus

One of the many incentives to getting this credit card is the $150 sign-up bonus. Although there are different cards with a higher sign-up bonus, the card is still a great option and should seriously be considered.

Earn Unlimited 1.5% Cash Rewards on Purchases

The Wells Fargo Cash Wise Visa® is a powerful everyday spending card because it offers unlimited rewards earning with a $0 annual fee.

For consumers with minimal to average spending habits this coil easily leads to hundreds of dollars earned in cash back through the year.

0% Introductory APR for 15 Months

The Wells Fargo Cash Wise Visa® offers an introductory 0% APR for the first 15 months from opening the account.

Although this is considered an average proffer for a card without an annual fee, you are at least granted a little over a year to pay high-interest credit card debt or finance something without paying interest fees.

Cell Phone Protection

The credit card also provides cell phone insurance. When you pay your phone bill with the Wells Fargo Cash Wise Visa, your phone is protected when it is damaged or stolen. However, you are required to pay a $25 deductible.

24/7 Fraud Monitoring

The Wells Fargo Cash Wise Visa® provides even more benefits. Any unauthorized transactions are nullified through the card’s zero liability protection policy if you report them quickly.

Auto Rental Insurance

The card also offers rental car insurance when you pay for the entire cost of a rental car with the Wells Fargo Cash Wise

Visa®.

It is important to note that this insurance is secondary in the U.S. and primary outside of the U.S. Secondary insurance just means that if you have any insurance covering your loss, that will take into effect first.

The Wells Fargo insurance may just compensate for the cost of your deductible.

How Does the Wells Fargo Cash Wise Visa® Credit Card Compare to Other Cards?

The $0 annual fee cash back credit card market is extremely competitive and almost saturated. Since there are so many options on the market, it’s essential to compare the Wells Fargo Cash Wise Visa® against the alternatives to see if it is a good fit for your personal finances.

#1. Discover it® Cash Back vs. Wells Fargo Cash Wise Visa® Credit Card

The Discover it® cash back card is a viable option when looking for a credit card because of its many benefits. Similar to the

Wells Fargo Cash Wise Visa, the Discover it® cash back card does not require any annual fees.

Unlike Wells Fargo, the Discover it® cash back card has a feature where they will match all the cash back you’ve earned at the end of the first year, no matter how much.

Discover also lets you redeem your rewards for cash at any time and at any amount. However, Discover requires a slightly

higher credit score than Wells Fargo, so you may need to consider that when choosing a credit card.

#2. Wells Fargo Cash Wise Visa® Credit Card vs. Chase Freedom Unlimited®

The Chase Freedom Unlimited® card is a notable option for those with good credit and who want cash back rewards. This card offers a $200 bonus after spending $500 in the first three months of opening the account.

You can also earn 5% cash back on grocery store purchases (excluding Target and Walmart) up to $12,000 within the first year.

Similar to Wells Fargo, there are no annual fees, but the card does require good credit. Overall, the Chase Freedom Unlimited® will earn you more money in the long run; however, you still should consider both options to see what’s best for you.

#3. Citi® Double Cash Card – 18 months BT offer vs. Wells Fargo Cash Wise Visa® Credit Card

The Citi® Double Cash Card is easily one of the best cash back cards on the market. You can earn 2% on every purchase

and have unlimited 1% cash back, as well as an added 1% when you pay for those purchases.

However, unlike the Wells Fargo Cash Wise Visa, there are no benefits accompanied with the Citi® Double Cash Card other than the high rewards rate.

If you are looking for more benefits, then Wells Fargo may be the best choice because of the cell phone and auto rental insurance; but, if you are looking to transfer a balance, the Citi® Double Cash Card offers an introductory 0% APR for the first 18 months. In comparison, the Wells Fargo Cash Wise Visa® only offers up to 15 months for the intro APR.

#4. Chase Freedom Flex℠ vs. Wells Fargo Cash Wise Visa® Credit Card

Like the Chase Freedom Unlimited®, the Chase Freedom Flex℠ allows you to earn 5% cash back on grocery store purchases (excluding Target and Walmart) up to $12,000 within the first year.

This card also allows you to earn 5% cash back travel purchases, 3% on drugstores or dining, and 1% on all other purchases.

However, these categories rotate quarterly, so you need to remember to activate the rotating bonus categories if you want to maximize your earning potential.

The Wells Fargo Cash Wise Visa® offers a simple and straightforward rewards program, which may be more appealing if you aren’t very particular about your credit card rewards.

Frequently Asked Questions

The Wells Fargo Cash Wise Visa® is a reliable everyday spending card for consumers who want a simple earning structure and the ability to earn cash back on most of their spending.

Let’s check a few of the most frequently asked questions to see if its features make it a good choice for you:

Is the Wells Fargo Cash Wise Visa® card worth it?

If you are looking for a credit card with a straightforward rewards program and a variety of decent benefits, then the Wells Fargo Cash Wise Visa® is a solid option for you. If you plan on traveling internationally, this card may not be the best option because of the high foreign transaction fee.

What credit score is needed for a Wells Fargo Cash Wise Visa® card?

To qualify for the Wells Fargo Cash Wise Visa, you need to at least have a credit score of 700.

Does the Wells Fargo Cash Wise Visa® card charge a foreign transaction fee?

Yes – The Wells Fargo Cash Wise Visa® charges a 3% foreign transaction fee.

What is the credit limit on the Wells Fargo Cash Wise Visa® card?

If you qualify for the Wells Fargo Cash Wise Visa®, the minimum credit limit is $1,000. However, this is subject to change based on your creditworthiness.

Is the Wells Fargo Cash Wise Visa® card Good?

Overall, the Wells Fargo Cash Wise Visa® is good for everyday use and simple cash back rewards. The card offers a range of benefits that other cards may not have, all while having no annual fees.

If your lifestyle requires you to travel out of the United States frequently, then this card probably isn’t your best option. There are certainly more credit cards to choose from, but if you aren’t very particular about which card you have and want a solid cash back credit card, then the Wells Fargo Cash Wise Visa® may be a good choice.

Bottom Line: Wells Fargo Cash Wise Visa® Review

All-in-all, the Wells Fargo Cash Wise Visa® is a solid option, but there are better cards available. That said, the no annual fee, generous cash back rewards, and sign-up bonus make this card a great choice for those looking for simplicity.

Justin Estes
Justin Estes
Justin is an experienced personal finance writer, blogger, and author. His background in accounting and finance led to a passion for helping people make the most of their money and matching them with financial products that enhance their lifestyle. When he's not working, he enjoys hiking, playing guitar, and drinking coffee.