Wells Fargo To Launch New ‘Cash Wise’ Credit Card In June

Update: This card has now launched. Read our full review here.

Wells Fargo are set to launch a new credit card called ‘Cash Wise’ sometime in June of 2016 (Wells Fargo filed a trademark for ‘Cash Wise’ back in late 2015). We have some details about the new card:

  • No annual fee
  • Card will earn 1.5% cash back on all purchases
  • For the first twelve months the card will earn 1.8% cash back on all apple pay purchases
  • Will run on the Visa payment network

It’s unclear if this will replace their current cash back card that earns 5% on gas, groceries, and drugstore purchases for 6 months or not. If you’re thinking about getting that card, I’d recommend getting it sooner rather than later (I don’t think this will affect the Wells Fargo Propel World or Wells Fargo Propel 365). The card itself is rather lackluster, as there are now a slew of other credit cards that earn 2%+ cash back on all purchases. The only way I can see this card being remotely competitive is if it came with a sign up bonus and even then I’d get the bonus and then never use the card again.

Hat tip to i_rivera90 on myFICO forums & philly555 on /r/churning. If any other workers at Wells Fargo have more information to share (as an internal memo has been sent out) please reach out in the comments or contact us. 

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bennyzh
bennyzh (@guest_257135)
May 8, 2016 19:31

First Barclay, then AMEX (Charles Schwab), then Chase FU, and now Wells Fargo. 1.5% seems like the go to CB card for these banks.

John
John (@guest_257111)
May 8, 2016 17:09

“Affect”