Update 4/18/23: Spend requirement is temporarily lowered from $1,000 to $500. Same $200 bonus.
Update 8/7/22: Bonus is $250 in branch.
As expected, Wells Fargo has officially launched their new Active Cash card which earns 2% cash back on all purchases and offers a $200 signup bonus with no annual fee.
Signup Bonus
- Get $200 sign up bonus after $1,000 in spend within the first three months.
Card Details
- Card earns 2% cash back on all purchases
- Cashback can be redeemed as little as $1
- Cashback can be applied to offset purchases, to pay off a WF loan or credit line, or withdrawn at WF ATM (minimum $20 at ATM) or redeemed for gift cards
- $0 annual fee
- 3% foreign transaction fee
- 0% intro APR for 15 months
- Get up to $600 of cell phone protection against damage or theft when you pay your monthly cell phone bill with the card
Our Verdict
It’s good to see another 2% card available with no annual fee. Nice to see a $200 bonus on the card as 2% cards often have no/little bonus on them. We’ve added this to our list of Best Credit Cards For Every Day Purchases.
If, like me, you were reluctant to use your WF cc for bank funding because they would not reduce the cash advance limit, it appears WF has reduced their default ratio of cash advance limit to total credit limit.
Applied and accepted 11/30. Chose because of low $500 spend requirement and $200 cash back. But surprise … they increased the CB to $300! Perhaps because we have our mortgage with WF? Dunno. Whatever. Nice. Got the card 12/7. I’m on Long Island and they pulled Equifax.
Did you get the 300 from applying in Branch
This is the best 2% cash back card IMO because unlike the Citi double cash you get the straight 2% right away. Wells Fargo gave me twice the credit line as Citibank and they have several online coupons that can earn you an additional 5-20% cash back on top of the 2% in their “deals” section. You have to click to activate the offers and most are for one time use only. With a 0% bt offer and a $200 cash bonus for only $500 in spend this card can’t be beat..
Tip: Also be aware that if you don’t have a Wells Fargo savings/checking account it’s best to request a check in the mail because a statement credit does NOT earn the 2% cash back.
The one thing that is better about the Citi Double cash card is that you can have the cash back ACH transferred to the bank account of your choice.
My denial reason is “Ratio of credit bureau trades with a balance greater than zero (We look at the ratio of open and closed credit accounts that have a balance greater than zero in the last six months)”. Anyone knows What it means? What does this “balance greater than zero” refer to? Do I have too many cards?
They probably think your “credit utilization ratio” is too high. You may have just had a bunch of charges one month and that’s when the credit agencies happened to check your score. To check your credit utilization ratio on your own just add up all your credit lines together then add up all your debt together and figure out what percentage of your credit you are using. Keep it below 30% and you should be good.
Denied even though I was targeted by mail and applied with the Reservation Number in letter. HP on Experian. Duh Wells Fargo
Approved. FICO ~750, 2/24, no active account only previously closed checking, 50k income. Wasn’t able to complete text verification during application, received letter needing to complete that, called number on letter, completed text verification and approved on the spot. Btw the opening bonus tracker is still present, within the Rewards portal.
Also denied (“pending”, but denial email came before pending email!) – have checking account with them, had cards with them but it’s been years (3+?). 5/12
Does anyone have both this card and the visa signature? I am curious if the rewards from this card are strictly treated as cashback, or if you earn 2 “points” which could be redeemed as cash or as 1.5 cents per point through the travel portal if you hold the visa signature. Thanks for any clarification you can offer.
Denied. Have a WF mortgage and checking account. Great credit, high income. Many active accounts, dunno how many are recent. Not a ton
My wife applied and was approved, similar profile as me except she has no WF accounts whatsoever (she isn’t joint on mortgage) and is a green card holder
How long does it take for the bonus to post? I already completed spending, statement also closed yesterday, but still don’t see the $200 bonus in my account
Wondering the same here. Guess I’ll have to call today!
Same here. Clicked on three dots next to $0.00 on rewards pane then “Redeem to Account” which opened reward portal. Available reward balance was $200 + 2% of total spend. Redeem by check was available in $25 increments, physical gift cards are by the penny.