wells fargo credit card review

Wells Fargo Credit Card Review: Features & Benefits

Did you know 44% of Americans carry a balance on their credit cards? This fact shows how crucial it is to pick the right card. In this review, we’ll look at what makes Wells Fargo credit cards special.

Wells Fargo has many credit cards for different needs. They offer cash back, travel perks, and more. Let’s see what makes Wells Fargo cards unique and if they’re right for you.

The Wells Fargo Active Cash® Card is a top choice. It gives unlimited 2% cash back with no annual fee. New users get a $200 bonus after spending $500 in three months. These benefits make it a top pick for rewards.

Wells Fargo cards also have useful extras. They offer cell phone protection, travel help, and FICO® Score access. These features add value beyond just rewards and fees.

Key Takeaways

  • Wells Fargo offers credit cards with no annual fees and competitive rewards programs
  • The Active Cash® Card provides 2% cash back on all purchases
  • New cardholders can earn a $200 bonus with qualifying spend
  • 0% intro APR periods are available on select cards for purchases and balance transfers
  • Additional perks include cell phone protection and travel benefits

Introduction to Wells Fargo Credit Cards

Wells Fargo is a big name in U.S. finance. They have many credit cards for different needs. You can find cards for cash back, travel rewards, and more.

Wells Fargo’s Credit Card Offerings

The Wells Fargo Active Cash® Card is special. It gives unlimited 2% cash rewards on all purchases. New users get a $200 bonus after spending $500 in 3 months.

If you like points, the Autograph℠ Card is for you. It offers 3X points on certain categories and a 20,000-point bonus after $1,000 spend in 3 months.

Specialized Cards for Specific Needs

The Reflect® Card is great for financing or balance transfers. It has a 0% intro APR for 21 months. Travel lovers might like the Autograph Journey℠ Card, with 5X points on hotels and 4X on airlines.

Renters can benefit from the Bilt Mastercard®. It lets you pay rent without fees and earn points.

Who Are These Cards For?

Wells Fargo cards are for people with good to excellent credit, usually 700 or higher. They offer great interest rates, high credit limits, and rewarding programs. Whether you want cash back, travel rewards, or low-interest rates, Wells Fargo has a card for you.

“Wells Fargo credit card doubled my credit limit for responsible spending within the first year.” – Satisfied Customer

Wells Fargo Credit Card Review: Features & Benefits

Wells Fargo has a variety of credit cards with great features and benefits. The Wells Fargo Active Cash® Card gets a 4.3 out of 5 rating. It offers unlimited 2% cash rewards on all purchases and a $200 cash bonus after spending $500 in the first 3 months.

The Wells Fargo Autograph℠ Card is perfect for those who want to earn more rewards. It gives 3X points on travel, dining, and streaming services. New cardholders can get 20,000 bonus points by spending $1,000 in the first 3 months.

The Wells Fargo Reflect® Card is great for balance transfers. It has a 0% intro APR for 21 months on qualifying balance transfers. This makes it a top choice for those looking to pay off debt.

Sign-up bonuses vary by card. The Choice Privileges® Select Mastercard® offers 90,000 bonus points after spending $3,000 in the first 3 months. The One Key+™ Card gives $600 in OneKeyCash™ after $3,000 in purchases in the same time frame.

Credit score requirements are usually 670+ for these cards. This means you need good to excellent credit. Annual fees are often $0, but APRs can be between 18.24% and 29.99%, based on the card and your credit score.

It’s important to compare Wells Fargo credit cards with others from Chase and Bank of America. This way, you can find the best card for your spending habits and financial goals.

Rewards Programs and Earning Potential

Wells Fargo has many credit card benefits through its rewards programs. These programs fit different spending habits and preferences. They are great for many consumers.

Cash Back Options

The Wells Fargo Rewards® Card is known for its cash back. For the first six months, you earn 5 points per $1 spent at gas stations, grocery stores, and drugstores, up to $12,500. All other purchases earn 1 point per $1 spent. Points are worth 1 cent each, offering big cash back chances.

Points-Based Rewards

Wells Fargo’s points system is flexible. You can use points for cash back, travel, gift cards, merchandise, and charitable donations. The card has a $0 annual fee, making it more appealing than some competitors.

Travel Rewards and Redemption Options

Wells Fargo’s travel rewards program has variety but some limits. Hotel bookings can be up to 100% more than Hotels.com, and rental car rates might be 50% higher than others. Yet, the card offers travel perks like car rental collision coverage and travel accident insurance.

Feature Wells Fargo Rewards® Card Competitor Cards
Annual Fee $0 $0 – $95
Intro APR 0% for 15 months on purchases and balance transfers Varies
Regular APR 12.49% – 25.49% (Variable) Varies
Points Valuation 1 cent per point Varies

Despite some travel booking drawbacks, the Wells Fargo Rewards® Card is a strong choice. It has no annual fee and good credit card interest rates. It’s a solid pick for many.

Annual Fees and Interest Rates

Wells Fargo has many credit cards with different fees and rates. The Wells Fargo Active Cash® Card is special because it has no annual fee. It also gives 2% cash back on all purchases, which is more than most cards.

The Choice Privileges® Select Mastercard® has a $95 annual fee but offers great rewards. You get 10 points per $1 at Choice Hotels and 5 points per $1 on gas, groceries, and home improvements.

Wells Fargo credit cards have interest rates from 19.74% to 29.74% Variable APR. The Wells Fargo Reflect® Card is a good choice if you want a card with no annual fee. It offers a 0% introductory APR for a while.

Card Annual Fee Regular APR Intro APR Offer
Wells Fargo Active Cash® Card $0 19.74%, 24.74%, or 29.74% Variable 0% for 12 months on purchases and qualifying balance transfers
Wells Fargo Reflect® Card $0 17.74% to 29.74% Variable Up to 21 months 0% intro APR
Choice Privileges® Select Mastercard® $95 18.74% to 28.74% Variable N/A

When picking a Wells Fargo credit card, think about the annual fee and rewards. For example, the Active Cash® Card gives a $200 cash bonus after spending $500 in the first 3 months. This can make up for several years of annual fees on other cards.

Don’t forget to consider the customer service when choosing a card. Wells Fargo offers great support, including cell phone protection and auto rental collision damage waiver coverage on certain cards.

Introductory APR Offers and Balance Transfers

Wells Fargo credit cards are known for their great introductory APR offers. The Wells Fargo Reflect Card is a standout in this review. It offers a 0% intro APR for up to 21 months on purchases and balance transfers. This is almost twice as long as the average of 11 months.

0% Intro APR Periods

The Reflect Card’s 0% intro APR is truly exceptional. It beats the average balance transfer card by 8 months. This means cardholders have more time to pay off debt or make big purchases without interest.

Balance Transfer Fees and Terms

When it comes to credit card fees, balance transfer fees are important. The Reflect Card charges a 5% fee (minimum $5) for transfers made in the first 120 days. While this is common, it’s crucial to consider it when calculating potential savings.

Potential Savings with Balance Transfers

Balance transfers can save a lot of money. Moving high-interest debt to a 0% APR card can save you from interest charges for almost two years. This can be especially beneficial for those with large balances.

Card Feature Wells Fargo Reflect Card Market Average
Intro APR Period 21 months 11 months
Balance Transfer Fee 5% (min $5) 5% (min $5)
Annual Fee $0 Varies

The Reflect Card doesn’t have a rewards program. But its long 0% APR period makes it great for debt consolidation or big purchases. Just remember, after the intro period, the APR goes up to 17.74% – 29.49%.

Additional Perks and Benefits

Wells Fargo credit cards offer more than just cash back and rewards. The Wells Fargo Active Cash® Card has many perks and benefits. This makes it a great choice for many people.

This card has a $0 annual fee, offering great value. You earn 2% cash rewards on all purchases. There’s also a welcome offer: $200 cash rewards after spending $500 in the first 3 months.

The card’s interest rates are competitive. The regular APR is between 19.74% to 29.74% Variable. New cardholders get a 0% intro APR for 12 months on purchases and qualifying balance transfers.

One of the card’s best features is cell phone protection. Pay your monthly phone bill with the card. You get up to $600 in protection against damage or theft, with a $25 deductible.

  • No foreign transaction fees
  • Cash rewards don’t expire while the account is open
  • Exclusive Visa Signature perks
  • Flexible redemption options including statement credits, ATM withdrawals, and travel rewards

These benefits, along with the card’s strong rewards program and fair credit limits, make it a top choice. It’s best for those with good to excellent credit scores (670-850).

Credit Score Requirements and Approval Odds

When you apply for Wells Fargo credit cards, knowing the credit score needs is key. These cards offer great travel rewards and sign-up bonuses. But, you usually need a good to excellent credit score to get approved.

Minimum Credit Score for Wells Fargo Cards

Wells Fargo looks for credit scores between 670 and 850. This is considered good to excellent. They want to make sure you can handle your credit well and enjoy the card’s perks.

Factors Affecting Approval

Wells Fargo doesn’t just look at your credit score. They also check your income, debt, and how many accounts you have open. They also consider your recent credit checks and your history with Wells Fargo if you already have an account.

Tips for Improving Approval Chances

To increase your chances of getting approved, keep your credit score high and pay bills on time. Use less than 30% of your available credit and don’t apply for too many cards at once. If you want a card for travel rewards or bonuses, make sure your credit matches the card’s needs.

Credit Score Range Category Approval Odds
300-579 Very Poor Low
580-669 Fair Moderate
670-739 Good High
740-850 Excellent Very High

Just meeting the credit score requirements doesn’t mean you’ll get approved. Wells Fargo might ask for more information during your application. If you’re not approved, try to improve your credit score before you apply again.

Comparison with Other Major Credit Card Issuers

Wells Fargo is a standout in the credit card market. Its Active Cash Card offers 2% cash back, matching the likes of Citi Double Cash. For travel enthusiasts, the Autograph Card’s 3X categories are a close match to the Chase Sapphire Preferred, minus the annual fee.

Credit card rewards differ among issuers. Chase leads with 149.3 million cards, offering a variety of rewards. Wells Fargo, with 23.6 million cards, focuses on simple cash back and points. Both have competitive interest rates and introductory APRs.

Wells Fargo is known for its no-annual-fee cards. This is a big plus compared to issuers like Chase and American Express, which often charge for premium cards. Yet, these fees can be worth it for the extra perks and higher rewards.

Issuer Cards in Circulation J.D. Power Ranking Transfer Partners
Chase 149.3M #5 Extensive
Wells Fargo 23.6M #7 Limited
Capital One 106.9M #4 Growing

Wells Fargo’s transfer partners program is smaller than Chase or American Express. But, it has room to grow. The bank’s lower J.D. Power ranking hints at areas for better customer service, where Capital One shines.

Conclusion

Our review of Wells Fargo credit cards shows a wide range of choices for different needs. The Active Cash® Card is a top pick with its $0 annual fee and 2% cash rewards on purchases. This rate is higher than many others.

The Autograph℠ Card is great for travelers. It offers 3 points per $1 on dining, travel, and gas. This makes it a top choice for those who love to explore.

But, it’s important to look at the details. Balance transfers at Wells Fargo don’t have a grace period. This can impact your rewards. The Reflect® Card is a good option for balance transfers, needing a credit score of 700.

Interest rates vary based on your credit score. They range from 19.74% to 29.74% APR for purchases and balance transfers after the intro period.

In summary, Wells Fargo credit cards have great rewards and benefits for spending and travel. But, it’s key to think about your financial habits and credit score before applying. Use tools like WalletHub’s database to compare and find the best card for you.

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