Wells Fargo Cash Wise Visa Card Review [2021]: Convenient Cash Back For Everyone

The Wells Fargo Cash Wise Visa Card is an overlooked card by many — but you’d be wise not to overlook the ease of cashback earnings and cell phone coverage.
Last updated Aug 27, 2021 | By Brett Holzhauer

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Note: The Wells Fargo Cash Wise Visa Credit Card is not currently available from the issuer. If you are interested in a Wells Fargo card, then check out the Wells Fargo Active Cash Card. Or for the full list of the best cards available, check out our picks for the best cashback credit cards.

The Wells Fargo Cash Wise Visa Credit Card is a great go-to card for cashback earnings with no fuss. This card is typically overlooked by many because Wells Fargo isn’t a large player in the credit card market. However, you shouldn’t discount it — as this card packs a punch.

With a respectable unlimited cashback reward — 1.8% cash back on purchases made with a qualifying mobile wallet for the first 12 months, then unlimited 1.5% cash rewards on everyday purchases — the Wells Fargo Cash Wise Visa Credit Card will help you see a return on your spending. In addition, the bonus reward for those adapting to mobile payment is very unique. Additionally, the cell phone protection that comes with the card can save you in a sticky situation.

If all this sounds interesting, keep reading this Wells Fargo Cash Wise Visa Credit Card review to find out what this card could do for you.

Great Go-to Card for Cashback Earnings

Wells Fargo Cash Wise Visa Card

Wells Fargo Cash Wise Visa Card

Wells Fargo Cash Wise Visa Card

Intro Offer

$150

Annual Fee

$0

Rewards Rate

up to 1.8% cash rewards

Benefits and Drawbacks

Benefits

  • $150 cash rewards bonus offer
  • No annual fee
  • 0% intro APR on purchases and balance transfers
  • 1.8% cash rewards for first 12 months on purchases made with a qualified mobile wallet
  • 1.5% cash rewards on everyday purchases

Drawbacks

  • No bonus reward categories
  • Must meet reward minimums before redeeming your cash back
Card Details
  • $150 cash reward after spending $500 in the first 3 months
  • 1.8% cash back on purchases made with a qualifying mobile wallet for the first 12 months, then unlimited 1.5% cash rewards on everyday purchases
  • Intro purchase 0% offer: 0% for 15 months then 14.49% to 24.99% (variable)
  • Intro balance transfer 0% offer: 0% for 15 months then 14.49% to 24.99% (variable)

In this article

Who should get the Wells Fargo Cash Wise Visa Credit Card?

If you’re looking to get started in credit card rewards with a simple, no-annual-fee card to earn cash back without any fuss, this card may be for you.

Some credit cards offer spending categories on specific purchases, such as dining, travel, gas, and entertainment. So, for example, if you spend heavily on gas, you may want to take a look at our list of best credit cards for purchasing gas.

Having multiple credit cards with specific categories can quickly turn into a hassle. But with the Wells Fargo Cash Wise Visa Credit Card, cardholders never have to worry about using various cards for different purchases. The cash rewards bonus earnings are the same from your local coffee shop to a car repair. There’s also an additional cashback incentive if you use mobile payment (e.g., Apple Pay, Google Pay).

However, if you’re already experienced with credit card rewards and want to step up your cashback earnings, you might be better off looking at our list of the best cashback credit cards.

Card basics

Card type Cash Back
Card issuer Wells Fargo
Credit card network Visa
Annual fee $0
Intro bonus $150 cash reward after spending $500 in the first 3 months
Reward rate 1.8% cash back on purchases made with a qualifying mobile wallet for the first 12 months, then unlimited 1.5% cash rewards on everyday purchases
Recommended credit score Excellent, Good
Intro APR 0% for 15 months on purchases
0% for 15 months on balance transfers
Foreign transaction fee 3%

Wells Fargo Cash Wise Visa Credit Card benefits and perks

  • Generous welcome offer: The Wells Fargo Cash Wise Visa Credit Card comes with a generous and obtainable welcome offer. You can earn a $150 cash reward after spending $500 in the first 3 months.
  • Cashback earnings: New cardholders earn 1.8% cash back on purchases made with a qualifying mobile wallet for the first 12 months, then unlimited 1.5% cash rewards on everyday purchases. There are There are no bonus categories to keep track of or activations needed. The cashback perk with the Wells Fargo Cash Wise Visa Credit Card is as simple as spending and earning. In addition, your rewards won’t expire as long as the account remains open.
  • Mobile payment bonus earning: If you own a smartphone, you can earn up to 1.8% cash rewards when using mobile payment to pay for purchases. For example, if you’re an avid Costco shopper (like me) and you spend $300 a month but pay for it with mobile payment (which Costco accepts), you’ll earn $5.40 by simply using your phone to pay instead of the card. However, this bonus is only applicable during the first 12 months from account opening.
  • Cell phone protection: Let's say you’re paying with your cell phone — and you drop it and break it. Thankfully, the Wells Fargo Cash Wise Visa Credit Card can cover this. If you pay your monthly cell phone bill with this card, you can receive up to $600 in cell phone insurance protection against covered damage or theft of your cell phone. This is subject to a $25 deductible — but that $25 sounds much better than being out hundreds of dollars for a new phone.
  • Intro APR: Lastly, you’ll have an introductory APR (annual percentage rate) of 0% for 15 months on eligible purchases and 0% for 15 months on qualifying balance transfers. Be aware that you will have pay a balance transfer fee to take advantage of this intro rate.

Drawbacks to this card

  • Not the highest cashback rate: While the cashback earnings on this card are good and the flat-rate structure makes it easy to earn on your spending, there are cards that could earn you higher rewards. The Citi Double Cash Card, for instance, is also a flat-rate cash rewards card, but it can earn you up to 2% cash back on all purchases: 1% as you buy and 1% as you pay.
  • Redemption minimum: If you want to turn your rewards into a direct deposit to your checking or savings account, you can only redeem your cashback in $25 increments.

Earning & redeeming cash back

Potential earnings in years one and two

Here's a look how your cash back can add up with the Wells Fargo Cash Wise Visa Card.

Remember, this is an estimation. The actual value will be determined by how much you spend and in which categories you spend.

Year one earnings: $653

Year two earnings: $503

These values are based on the FinanceBuzz Credit Card Rewards Valuation Model which takes a look at points earned via spending, the sign-up bonus, and the annual fee. This calculation does not take the bonus rewards you could earn on digital wallet purchases, so if you plan to take advantage of that offer, then your earnings could be even higher.

Best ways to earn

To have the highest earning potential, you should use this card as an everyday card. To maximize your cashback earnings, consider using this card alongside another one that has rewards for spending categories that reflect your expenses. For example, if you spend a decent amount of money on gas and at supermarkets, consider applying for a card like the Blue Cash Preferred® Card from American Express and using your Wells Fargo card for all your other purchases.

You can also earn an extra discount off your purchases when using the Earn More Mall shopping portal, which will link you to large retailers offering extra discounts on your orders. For example, let's say you’re shopping at Macy’s. If you go through the Earn More Mall, you’ll get a certain percentage off your order simply by going through the shopping portal. The cash saved will be sent to your cashback rewards account.

Categories Rewards rate
Purchases made with a qualifying mobile wallet in the first 12 months 1.8X
All other purchases 1.5X

Maximizing your redemptions

You can redeem your cash back for a variety of things. Here are all the redemption options available to you as a cardholder:

  • Cash at a Wells Fargo ATM
  • Direct deposit to a bank account or in the form of a check
  • Charity donations
  • Payment on a mortgage with Wells Fargo
  • Merchandise
  • Gift cards
  • Travel

Wells Fargo Cash Wise Visa Credit Card FAQs

How does Wells Fargo cash back work?

You can redeem your cash back in a few different ways: a statement credit, at a Wells Fargo ATM using your Wells Fargo ATM card in $20 increments, direct deposit into your Wells Fargo bank account, a credit applied to your qualified Wells Fargo mortgage principal balance, or gift cards.

Does the Wells Fargo Cash Wise have a foreign transaction fee?

Yes, the Wells Fargo Cash Wise Visa charges a foreign transaction fee of 3%.

What credit score is needed for Wells Fargo Cash Wise Visa Credit Card?

For the best chance of being approved for the Wells Fargo Cash Wise Visa Credit Card, you’ll need to have a good to excellent credit score. That means you likely need a FICO score of 670 or higher.

How do I get cash from my Wells Fargo credit card?

Be sure to give Wells Fargo customer service a call to set up your cash advance PIN. Once that’s completed, you can visit any ATM to access cash. However, you’ll be charged $10 or 5%, whichever is greater.

Other cards to consider

The Wells Fargo Cash Wise Visa Credit Card is a fairly standard rewards credit card, and it may be a good fit for someone looking to “dip their toes” into credit card rewards. But if that doesn’t sound like you, there are plenty of other credit card offers to consider that could earn you even more on your purchases. Here are two options from other credit card issuers that also feature unlimited cash back.

First, consider the Capital One Quicksilver Cash Rewards Credit Card. This card has an early spend bonus that lets you earn a $200 cash back bonus after spending $500 in the first 3 months. You also earn 1.5% cash back rewards on every purchase, every day. And even though it's primarily a cashback card, you also get benefits like travel insurance, roadside assistance, and extended warranty coverage.

For more info, read our Capital One Quicksilver Cash Rewards Credit Card review.

Second, take a look at the Citi Double Cash Card. The Citi Double Cash  features a very simple rewards program. It gives you up to 2% cash back on every purchase. Along with this, you’ll enjoy a 0% intro APR for 18 months.

For more details, read our Citi Double Cash Card review.

Great Go-to Card for Cashback Earnings

Wells Fargo Cash Wise Visa Card

Wells Fargo Cash Wise Visa Card

Wells Fargo Cash Wise Visa Card

Special Offer

$150 cash reward after spending $500 in the first 3 months

See how these cards compare:

Capital One Quicksilver Cash Rewards Credit Card
Capital One Quicksilver Cash Rewards Credit Card
  • $200 early spend bonus
  • No annual fee
  • 0% intro APR on purchases and balance transfers for 15 months
  • 1.5% cash back on every purchase, every day
Citi Double Cash Card
Citi Double Cash Card
  • 0% intro APR on balance transfers for 18 months
  • 2% cash back on all purchases - 1% when you buy and 1% when you pay
  • No annual fee

Author Details

Brett Holzhauer Brett Holzhauer is a graduate of the Walter Cronkite School of Journalism at Arizona State University. He writes about using points & miles for travel, travel industry news, utilizing credit cards as financial leverage, and investing for the future. He has been featured in publications such as The Points Guy, Million Mile Secrets, The Money Manual, Recruiter, Travel Pulse, and Bald Thoughts. He is a full-time digital nomad with his wife, Kiersten.