Wells Fargo Platinum Visa® Card vs. Wells Fargo Active Cash® Card: Which Offers More Value?

CREDIT CARDS - CASH BACK CREDIT CARDS
If you have a Wells Fargo Platinum card, is it worthwhile to apply for the Wells Fargo Active Cash card as well?
Updated July 11, 2024
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Note: The Wells Fargo Platinum Visa® Card is not currently available from the issuer. If you are interested in a similar Wells Fargo card, check out the Wells Fargo Reflect® Card. Or for the full list of the best cards available, check out our picks for the best balance transfer cards.

The Wells Fargo Platinum Visa® Card was an excellent balance transfer card, but it doesn’t have much in the way of additional benefits. If you’re looking for simple rewards, the Wells Fargo Active Cash® Card(Rates and fees) might be a good addition to your wallet.

In this Wells Fargo Platinum vs. Active Cash credit card review, we consider the benefits of both cards so you can make an informed decision about whether to apply for the Wells Fargo Active Cash Card.

In this article

Wells Fargo Platinum vs. Wells Fargo Active Cash

The Wells Fargo Platinum is a classic balance transfer card that had introductory APR offers for purchases and qualifying balance transfers but without any rewards or a welcome bonus.

The Wells Fargo Active Cash provides intro APR offers for purchases and qualifying balance transfers as well as additional benefits. This includes an excellent rewards rate, a generous welcome offer, and Visa Signature benefits.

Check out this table for a quick comparison of the primary benefits of both cards. Consider the typical credit score requirements and any applicable fees.

Wells Fargo Platinum Visa® Card

Wells Fargo Platinum Visa® Card

Wells Fargo Active Cash® Card

Wells Fargo Active Cash® Card

Card type Balance transfer Cash back
Credit card issuer Wells Fargo Wells Fargo
Credit card network Visa Visa
Annual fee $0 $0
Welcome bonus Long introductory APR period for purchases and balance transfers $200 cash rewards bonus after spending $500 in purchases in the first 3 months
Earning rate None Earn unlimited 2% cash rewards on purchases
Redemption methods None
  • Statement credits
  • ATM cash withdrawal with eligible Wells Fargo debit or ATM card
  • Gift cards
  • PayPal checkout
  • Charitable donations
  • Merchandise
  • Travel
Intro APR 0% intro APR on balance transfers for 18 months, then 16.49% to 24.49% (variable) APR*


0% intro APR on purchases for18 months, then 16.49% to 24.49% (variable) APR*

*These APRs were up to date in October, 2021 when this card was discontinued. They vary with the U.S. Prime Rate and are most likely higher today.

0% intro APR for 15 months from account opening on qualifying balance transfers, then 20.24%, 25.24%, or 29.99% Variable APR


0% intro APR on purchases for 15 months from account opening, then 20.24%, 25.24%, or 29.99% Variable APR

Travel perks
  • Roadside dispatch
  • Roadside dispatch
  • Visa Signature Luxury Hotel Collection
  • 24/7 Visa Signature Concierge service
Other benefits
  • Cell phone protection
  • Cell phone protection
Foreign transaction fee 3% 3%
Credit needed Excellent, Good Excellent, Good
Learn more

What both cards excel at

The Wells Fargo Platinum is considered a balance transfer credit card, whereas the Wells Fargo Active Cash is considered a cash rewards credit card. Despite finding themselves in different card categories, both products share many similarities.

Annual fee

Credit cards with elevated benefits typically come with annual fees, but there’s no annual cost to worry about with these cards. The Wells Fargo Platinum has a $0 annual fee and the Wells Fargo Active Cash also has a $0 annual fee.

Intro APR offers

Not every credit card provides an intro APR offer to its cardmembers, but they can be valuable if your card has one. You could find helpful intro APR offers on both cards, though you might find a few differences in the specific terms (which we get into below).

Roadside dispatch

The roadside dispatch benefit is available with both the Wells Fargo Platinum and Active Cash. This is a pay-per-use roadside assistance program that offers services such as towing, tire changing, fuel delivery, and more.

Cell phone protection

You typically won’t find a cell phone protection benefit on most credit cards, but both cards come with this perk. 

This perk offers up to $600 against damage or theft minus a $25 deductible. You can have a maximum of up to two paid claims per year. You must pay your cell phone bill with your applicable card to activate this benefit.

Card payment network

The card issuer for both cards is Wells Fargo, but Visa is the payment network. In our experience, Visa cards are some of the best credit cards for worldwide usage, as they're accepted in more than 200 countries and territories worldwide. Mastercard credit cards have similar worldwide acceptance.

Note that the Wells Fargo Platinum and Wells Fargo Active Cash might be accepted all over the world, but you still have to watch out for foreign transaction fees on applicable purchases:

  • Wells Fargo Platinum: 3% foreign transaction fees
  • Wells Fargo Active Cash: 3% foreign transaction fees

Check out our list of the best travel credit cards for better options that earn travel rewards.

5 important differences between Wells Fargo Platinum and Wells Fargo Active Cash

The Wells Fargo Platinum and Active Cash have plenty of benefits. But it’s easier to discover where either option might be better if you compare their differences.

1. Welcome bonus

Rewards credit cards often provide opportunities for new cardholders to receive a welcome bonus, sometimes also called a welcome offer. This typically involves spending a certain amount of money on the card in the first few months after opening your card account — and then receiving rewards for your efforts.

This could be an easy way to earn bonus rewards on purchases you likely were already planning on making. But not every credit card provides a welcome offer.

The Wells Fargo Platinum didn’t typically offer any sort of welcome bonus. The Wells Fargo Active Cash offers a $200 cash rewards bonus after spending $500 in purchases in the first 3 months.

Check out our Wells Fargo Active Cash review to learn more about this card.

2. Cash rewards

Let’s say you qualify for a new rewards card and successfully earn its welcome bonus. Is there any reason to continue using your card?

It depends on the card, but many rewards cards offer points, miles, or cash back for making purchases. Using your card to earn rewards on everyday purchases could be an excellent way to help reduce your overall spending.

The Wells Fargo Platinum isn’t part of the Wells Fargo Rewards program and doesn’t offer any rewards in bonus categories. The Wells Fargo Active Cash allows you to earn unlimited 2% cash rewards on purchases, which is a simple rate that works at gas stations, grocery stores, travel bookings, and more.

3. Redemption options

Earning rewards sounds nice, but what can you do with those rewards? If the available redemption options on a card don’t seem like the right fit, it might make sense to consider other cards.

Because the Wells Fargo Platinum doesn’t offer any rewards for purchases, it doesn’t have any redemption options.

The Wells Fargo Active Cash offers these redemption options:

  • Statement credits to a qualifying credit card, checking account, or mortgage
  • ATM cash withdrawal with eligible Wells Fargo ATM or debit card
  • Gift cards
  • PayPal checkout
  • Charitable donations
  • Merchandise
  • Travel

This is a wide variety of available options that should cover a lot of bases. From statement credits to travel, the Wells Fargo Active Cash offers many options that typically prove useful.

4. Introductory APR terms

The Wells Fargo Platinum Card had a 0% intro APR offer that differed from the one currently available with the Active Cash Card.

The Wells Fargo Platinum offered a 0% intro APR on qualifying balance transfers for 18 months, then 16.49% to 24.49% (variable) APR. It also offered 0% intro APR on purchases for 18 months, then 16.49% to 24.49% (variable) APR. It has a balance transfer fee of $5 or 3%, whichever is greater for first 120 days; after that, $5 or 5%, whichever is greater. (APRs and fees were accurate as of October 2021.)

The Wells Fargo Active Cash offers:

  • Intro APR on balance transfers: 0% intro APR for 15 months from account opening on qualifying balance transfers (then 20.24%, 25.24%, or 29.99% Variable). It has a balance transfer fee of 3% for 120 days from account opening, then up to 5%; min: $5.
  • Intro APR on purchases: 0% intro APR for 15 months from account opening  (then 20.24%, 25.24%, or 29.99% Variable). 

As you can see, the Wells Fargo Platinum had the longer intro APR offers. But because this card is no longer available for applications, consider the Wells Fargo Reflect as an alternative option.

The Wells Fargo Reflect offers:

  • Intro APR on balance transfers: 0% intro APR for 21 months from account opening on qualifying balance transfers (then 18.24%, 24.74%, or 29.99% Variable). It has a balance transfer fee of 5%, min: $5.
  • Intro APR on purchases: 0% intro APR for 21 months from account opening (then 18.24%, 24.74%, or 29.99% Variable). 

Read our Wells Fargo Reflect Card review for more card details.

5. Additional benefits

Looking past any applicable welcome offers or earning rates, it’s important to consider additional card benefits. Both of these cards offer cell phone protection and roadside dispatch, but that’s about where the Wells Fargo Platinum benefits end.

The Wells Fargo Active Cash also offers these Visa Signature benefits:

  • Visa Signature Luxury Hotel Collection: Access the Visa Signature Luxury Hotel Collection for premium benefits at more than 900 luxury hotels worldwide.
  • 24/7 Visa Signature Concierge service: Receive 24/7 access to the Visa Signature Concierge service. The concierge can help you with travel, dining, and entertainment needs. This could include making restaurant reservations or getting tickets to exclusive events.

These benefits might not offer value to everyone, but they could be useful in different situations. Because the Wells Fargo Active Cash simply has more benefits than the Wells Fargo Platinum, it’s likely the better card in this aspect. Learn more about Wells Fargo Active Cash Card benefits.

Should you apply for the Wells Fargo Active Cash Card?

You might want to apply for the Wells Fargo Active Cash if:

  • You want a generous welcome bonus
  • You want to earn rewards on everyday purchases
  • You want a rewards card that also has intro APR offers

If you have the Wells Fargo Platinum Card and also want to take advantage of cash rewards, the Active Cash Card could be a good fit.

Check out our list of Wells Fargo credit cards for more top offers.

FAQs

Is the Wells Fargo Active Cash Card hard to get?

Whether the Wells Fargo Active Cash card is hard to qualify for depends on your credit score. This card typically requires a good or excellent score to qualify, which is at least a 670 on the FICO scoring model.

What is the limit on the Wells Fargo Active Cash Card?

There’s no official credit limit on the Wells Fargo Active Cash Card. However, it’s not uncommon for credit limits on this card to range from around $1,000 to $10,000 or more. You can request a credit limit increase by contacting Wells Fargo at 1-800-642-4720. Requesting a credit limit increase could result in a hard inquiry on your credit report.

Is the Wells Fargo Platinum Card worth it?

The Wells Fargo Platinum Card may have been worth it if you qualified and needed a balance transfer card. But since this card is no longer available for applications, consider the Wells Fargo Reflect® Card instead. It’s another Wells Fargo card that offers an introductory APR period on qualifying balance transfers and purchases.

Bottom line

The Wells Fargo Active Cash Card could be a good addition to your wallet. If you’re still on the fence about which card might complement your Wells Fargo Platinum, check out our review of the Wells Fargo Reflect vs. Wells Fargo Active Cash for more insights.

If these cards don’t align with your typical spending habits or financial goals, consider other credit card offers from major card issuers. Visit our dedicated page to compare credit cards and see which one might make sense for you.

Lucrative, Flat-Rate Cash Rewards

5.0

Wells Fargo Active Cash® Card

Current Offer

$200 cash rewards bonus after spending $500 in purchases in the first 3 months

Annual Fee

$0

Rewards Rate

Earn unlimited 2% cash rewards on purchases

Benefits and Drawbacks
Card Details

Author Details

Ben Walker, CEPF, CFEI® Ben Walker, CEPF, CFEI®, is credit cards specialist. For over a decade, he's leveraged credit card points and miles to travel the world. His expertise extends to other areas of personal finance — including loans, insurance, investing, and real estate — and you can find his insights on The Washington Post, Debt.com, Yahoo! Finance, and Fox Business.