Is The Wells Fargo Active Cash Worth It?

For those who’re trying to find a bank card with a easy rewards construction, you’ve seemingly thought of a flat-rate money again card. With such a card, you don’t should maintain monitor of rotating bonus classes and even mounted tiered classes to earn money again rewards. You merely swipe your card and let the money again rewards pile up.

Since its launch, the Wells Fargo Lively Money® Card has rapidly develop into a standout within the flat-rate class attributable to its limitless 2 p.c money rewards on purchases. Right here’s a take a look at what the cardboard has to supply and elements to think about to resolve whether it is value it for you.

When is Wells Fargo Lively Money value it?

You like simplicity

When it comes right down to it, Wells Fargo Lively Money is an easy card for a easy cardholder. And that’s a superb factor. For those who don’t have the time to activate rotating classes or calculate spending caps on bonus classes (or just don’t wish to do both of these), this is a wonderful card to think about.

It earns limitless 2 p.c money rewards with no class limitations or quarterly activations. Plus, you’ll be able to earn a $200 money rewards bonus in case you spend $500 within the first three months, and there’s no annual charge. For those who’re searching for one thing that earns rewards with little effort and has no spending caps, that is the cardboard for you.

You intend to make a big buy quickly

Maybe you propose to purchase a big-ticket merchandise like a brand new laptop computer or washer, however you don’t have sufficient funds proper now to pay for it abruptly. Nicely, Wells Fargo Lively Money has a stable introductory APR supply: 0 p.c intro APR on new purchases for 15 months from account opening (20.24 p.c, 25.24 p.c or 29.99 p.c variable APR thereafter). If 15 months is lengthy sufficient to repay your new buy, Wells Fargo Lively Money may provide help to save on curiosity.

You wish to switch high-interest debt

Alternatively, perhaps you could have some bank card debt that you just gathered from a high-interest card and wish to switch that steadiness to a card that provides an introductory APR on steadiness transfers. Wells Fargo Lively Money additionally has a stable intro APR supply for qualifying steadiness transfers: 0 p.c intro APR for 15 months from account opening on qualifying steadiness transfers made inside 120 days of account opening (20.24 p.c, 25.24 p.c or 29.99 p.c variable APR thereafter).

You must also know there’s an intro steadiness switch charge of three p.c, or a minimal of $5, on steadiness transfers carried out through the first 120 days. After that, the charge will go as much as 5 p.c (minimal of $5).

You need higher card advantages with out paying an annual charge

As if the excessive money rewards fee, welcome bonus and introductory APR presents weren’t sufficient, this card comes with further options which can be sometimes discovered solely on playing cards with annual charges. These options embody cellphone safety (in case you pay your month-to-month cellphone invoice with the cardboard; phrases apply), an auto rental collision injury waiver, journey and emergency help providers, Visa Signature Concierge Providers and extra. This makes the Wells Fargo Lively Money card suited to even essentially the most cautious cardholders.

Be aware that, for the cellphone safety profit, you’ll rise up to $600 per declare in opposition to injury or theft (most of two claims per yr, minus a $25 deductible).

You want combining playing cards

Wells Fargo lately introduced that points-based journey playing cards would have the flexibility to switch factors to journey companions below their new “Factors Switch” program. Whereas this is applicable to the Autograph line of playing cards, it’s now potential to pool factors from the Wells Fargo Lively Money card with the brand new Wells Fargo Autograph Journey^SM card, as effectively.

Much like different frequent card combos, just like the Chase trifecta or Citi trifecta, now you can pool the rewards you’ve earned along with your Lively Money and Autograph Journey playing cards. You’ll be able to then switch these rewards to collaborating companion packages for much more worth.

When is the Wells Fargo Lively Money not value it?

You take pleasure in rotating class bonuses

For those who like incomes boosted rewards on classes that rotate every quarter, this isn’t the cardboard for you. The identical goes in case you take pleasure in boosted rewards classes of any sort.

The Wells Fargo Lively Money card presents a flat 2 p.c money again on all purchases, which makes it among the best flat-rate money again presents you’ll discover. Nevertheless, you gained’t earn boosted rewards charges in sure classes right here — like 3 p.c money again on groceries or 5 p.c money again on journey purchases.

You wish to redeem money rewards straight for journey

Although it’s possible you’ll redeem your money rewards for journey by way of the Wells Fargo Rewards journey portal, we’d advise in opposition to it. The journey portal isn’t practically as strong as some others, like Chase Final Rewards.

Further redemption choices embody money from a Wells Fargo ATM (in $20 increments), direct deposits to an eligible Wells Fargo checking or financial savings account, assertion credit and reward playing cards.

Must you get the Wells Fargo Lively Money?

All in all, it’s a superb card to have. In truth, this card’s flat-rate 2 p.c money rewards providing makes it among the best money rewards playing cards available on the market. For bank card fanatics who like enjoying with completely different card combos, you could possibly use the Wells Fargo Lively Money as an on a regular basis spending card and redeem your money rewards at a 1:1 ratio. To maximise your rewards, you could possibly even pair the cardboard with one which earns boosted rewards on sure classes of spending, like journey.

For brand new cardholders who don’t need an excessive amount of problem, the flat fee eases any potential headache towards maximizing bonus classes. You’ll be able to merely use this card in your purchases, and the two p.c money rewards will add up quicker than you understand. You’ll be capable of redeem your rewards for bodily money, reward playing cards or assertion credit quickly sufficient.

The underside line

The Wells Fargo Lively Money may make numerous sense for the suitable particular person in the suitable circumstance. And since there’s no annual charge, there’s not a lot to lose. For those who aren’t fairly positive about this card, you should utilize Bankrate’s CardMatch™ software to take a look at different bank cards you could be eligible for.