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Wells Fargo Platinum Visa^® Card vs. Wells Fargo Active Cash^® Card: Is It Worth Switching?

The Wells Fargo Active Cash card offers terrific flat-rate rewards and more perks than the Wells Fargo Platinum, plus intro APR offers too

By Ben Walker, CEPF, CFEI®
and Mary Beth Eastman

Edited by Melinda Sineriz, ABFP™

Updated Sept. 26, 2024

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Our view

Our view:

We think it could be worth adding the Wells Fargo Active Cash^® Card(Rates and fees) for people who are looking for a rewards card with generous cash rewards, an intro APR offer, and no annual fee.

Compared to the Wells Fargo Platinum Visa, which is a balance transfer card no longer being offered, the Active Cash offers more benefits.

Our view:

We think it could be worth adding the Wells Fargo Active Cash^® Card(Rates and fees) for people who are looking for a rewards card with generous cash rewards, an intro APR offer, and no annual fee.

Compared to the Wells Fargo Platinum Visa, which is a balance transfer card no longer being offered, the Active Cash offers more benefits.

How we evaluate products

Tip

Wells Fargo no longer offers the Wells Fargo Platinum Visa^® Card for new applicants. For a similar Wells Fargo card, check out the Wells Fargo Reflect^® Card. Or for a list of some of the best cards available, check out our picks for the best balance transfer cards.

The Wells Fargo Platinum Visa^® Card is an excellent balance transfer card, but it doesn’t offer many additional benefits. If you’re looking for a Wells Fargo card with generous, flat-rate rewards, the Wells Fargo Active Cash^® Card might be a good addition to your wallet.

In this Wells Fargo Platinum vs. Active Cash credit card review, we’ll show you the differences between the two cards so you can decide whether it’s worth it to apply for the Active Cash card.

Wells Fargo Platinum vs. Wells Fargo Active Cash

The Wells Fargo Platinum Visa Card is a balance transfer card that offered an introductory APR for purchases and qualifying balance transfers but no rewards or welcome bonus.

Like the Platinum Visa card, The Wells Fargo Active Cash card also provides intro APR offers for purchases and qualifying balance transfers, but it offers many additional benefits, too. These include a flat 2% rewards rate, a generous welcome offer, and Visa Signature benefits such as concierge service and Luxury Hotel Collection perks.

Here’s how the two cards compare.

	Wells Fargo Platinum Visa^® Card	Wells Fargo Active Cash^® Card
Card type	Balance transfer	Cash back
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
Credit card issuer	Wells Fargo	Wells Fargo
Credit card network	Visa	Visa
Redemption methods	Not applicable	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* *Intro APR offers as of October 2021, when this card was discontinued. Variable APR changes with the Prime Rate and is likely higher today.	0% intro APR for 12 months from account opening on qualifying balance transfers, then 19.74%, 24.74%, or 29.74% Variable APR 0% intro APR on purchases for 12 months from account opening, then 19.74%, 24.74%, or 29.74% Variable APR
Travel perks	Roadside dispatch	Roadside dispatch Visa Signature Luxury Hotel Collection 24/7 Visa Signature Concierge service
Other benefits	Cell phone protection (subject to a $25 deductible)	Cell phone protection (subject to a $25 deductible)
Foreign transaction fee	3%	3%
Credit needed	Excellent, Good	Excellent, Good
	Read our review	Read our review

5 key differences between Wells Fargo Platinum and Active Cash cards

To get a better idea of whether you should apply for the Active Cash card, especially if you already own the Wells Fargo Platinum card, take a closer look at the main differences between the two cards.

1. Welcome bonus

While the Wells Fargo Platinum typically didn’t 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.

Rewards credit cards often provide a welcome bonus, sometimes also called a welcome offer, that new cardholders can earn. This typically requires spending a certain amount of money on the card in the first few months after opening your card account. Once you’ve met the spending requirements, the card issuer will post the rewards to your account.

Welcome offers like the one you could earn with the Active Cash card reward you for purchases you likely were already planning on making. Not every card offers a welcome bonus, so it can be worth it to look for one that does, especially if you’re planning on making a big purchase with your new card.

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. You can continue to earn rewards with every eligible purchase with the Active Cash card. With its generous and unlimited rewards rate of 2% cash rewards on purchases, you could redeem those rewards as a credit directly to a qualifying Wells Fargo account. You can even apply your rewards to your Wells Fargo mortgage.

The Wells Fargo Platinum isn’t part of the Wells Fargo Rewards program and doesn’t offer any rewards, nor does it have rewards bonus categories.

3. Redemption options

The Wells Fargo Active Cash card offers a wide variety of redemption options:

Statement credits to a qualifying credit card, checking account, or mortgage
ATM cash withdrawal with an eligible Wells Fargo ATM or debit card
Redeem for purchases
Gift cards
PayPal checkout
Red Cross donations
Merchandise
Travel, including airfare, hotels and car rentals

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

4. Introductory APR terms

The intro APR offers provided by the Wells Fargo Platinum differ from the offers currently available with the Active Cash Card.

The Wells Fargo Active Cash offers:

Intro APR on balance transfers: 0% intro APR for 12 months from account opening on qualifying balance transfers (then 19.74%, 24.74%, or 29.74% 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 12 months from account opening (then 19.74%, 24.74%, or 29.74% Variable).

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. The balance transfer fee is $5 or 3%, whichever is greater for first 120 days; after that, $5 or 5%, whichever is greater. (APRs and fees accurate as of October 2021.)

The Wells Fargo Platinum had 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 17.74%, 24.24%, or 29.49% 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 17.74%, 24.24%, or 29.49% 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 other card benefits you may find useful. Although both cards offer cell phone protection and roadside dispatch, the Wells Fargo Platinum card doesn’t offer much beyond that.

The Wells Fargo Active Cash, on the other hand, 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.

Learn more about Wells Fargo Active Cash Card benefits.

When to choose the Wells Fargo Active Cash Card

The Active Cash card would be a good fit for people who want:

Flat-rate rewards: The Wells Fargo Active Cash card offers an unlimited 2% cash rewards on purchases, with no quarterly categories or spending caps.
Visa Signature benefits: Concierge service can save you time by booking reservations and appointments for you, such as tee times or spa services. And with access to the Luxury Hotel Collection, you can qualify for perks like automatic room upgrades, free breakfast, and VIP guest status.
Cash rewards bonus: If you’re approved for the Active Cash card, you could earn $200 cash rewards bonus after spending $500 in purchases in the first 3 months.
Intro APR offer: Even if you used the intro APR offer on the Platinum card, you may be ready to take advantage of the Active Cash card’s offer for purchases or balance transfers.

When to stick with the Wells Fargo Platinum Card

On the other hand, not everyone will want or need an additional credit card. If it were me, I’d stick with the Platinum card if:

It’s already in your wallet.
You don’t plan to spend enough to meet the welcome bonus requirements for the Active Cash card.
You don’t intend to take advantage of an intro APR offer.
You’re not interested in earning, managing, and redeeming rewards.
You don’t want a hard inquiry on your credit report right now.

The case for both cards

Although each card fits into a different card category (balance transfer for the Platinum, rewards for the Active Cash), both products share many similarities that make them valuable additions to your wallet. Here are five strengths they both share.

No 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 both the Wells Fargo Active Cash and the Platinum card have (or had) intro APR offers.

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. To use the service, cardholders can call 800-847-2869 to speak with dispatch; no enrollment required.

Cell phone protection

Both the Wells Fargo Platinum and the Active Cash card come with cell phone protection, a benefit that isn’t always offered on other credit cards.

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 12-month period. You must pay your cell phone bill with your applicable card to activate this benefit.

Visa payment network

The card issuer for both cards is Wells Fargo, but Visa is the payment network. In my 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.

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, including cards with no foreign transaction fees.

Should you replace your Platinum card with 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.

FAQ

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 looking for a rewards credit card with a flat rate. 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.

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