2% Cash Rewards Plus a Bonus


Wells Fargo really disrupted the cash back credit card space when they released their Wells Fargo Active Cash® Card. It is hard to compete with what this card has to offer and we have broken down all of the details below.

Unlimited 2% Cash Rewards

The Wells Fargo Active Cash® Card offers unlimited 2% cash rewards on purchases. Other cards that offer higher percentages only do so on certain categories (groceries or gas, for instance) and usually limit how much you can earn in those categories. With the Wells Fargo Active Cash® Card you don’t have to worry about any caps, categories or activating your rewards since you’ll automatically earn 2% on all of your purchases. This 2% rate is tough to beat and makes this no annual fee card a stand out option for anyone with good to excellent credit that is looking for a low-maintenance cash rewards card that will allow you to accumulate cash rewards really quickly. 

$200 Cash Rewards Bonus

There is also a sign-up bonus worth $200 in cash rewards that can be earned by spending at least $1,000 in the first three months after you are approved. This means you are getting another 20% back on the first $1,000 you spend.

Generous Introductory APR

Those seeking a 0% intro APR will be happy to hear that the Wells Fargo Active Cash® Card allows you to pay 0% interest for 15 months from account opening on purchases and qualifying balance transfers. After the introductory rate the 17.24%, 22.24%, or 27.24% variable APR will apply. There is an introductory balance transfer fee (3% for 120 days from account opening, then up to 5%; min: $5) but if you are paying interest on your other card(s) the fee is likely much lower than the interest charges you are accruing each month.

Additional Benefits

Another unique perk offered is cell phone protection. Simply use your Wells Fargo Active Cash® Card to pay your cellular telephone bill and you can get up to $600 of protection on your cell phone (subject to $25 deductible) against covered damage or theft. This will help give you peace of mind that your cell phone is protected while saving you money by not needing to pay out of pocket for the protection through another provider.

Wells Fargo Active Cash® Card

Purchase APR
0% intro APR for 15 months from account opening, then 17.24%, 22.24%, or 27.24% variable APR
Balance Transfer APR
0% intro APR for 15 months from account opening on qualifying balance transfers, then 17.24%, 22.24%, or 27.24% variable APR
Annual Fee
$0
Recommended Credit Score
Excellent/Good
670 – 850*
Cash Rewards
2% Earn unlimited 2% cash rewards on purchases
Welcome Bonus
Earn a $200 cash rewards bonus after spending $1,000 in purchases in the first 3 months


Other Cash Back Options

We think the Wells Fargo Active Cash® Card is tough to beat but we have rounded up some other options from our partners that may appeal to those who tend to spend more in specific categories.

Excellent Flat Rate Option Plus Bonus Categories

Chase Freedom Unlimited®

Apply Now
on Chase’s secure site
Recommended Credit Score
Good – Excellent
Show Card Details +

Chase Freedom Unlimited®

The Chase Freedom Unlimited® card is not new to the scene but has really stepped up its offering in terms of rewards. It charges no annal fee and offers a straightforward way to earn cash back while also providing some really enticing bonus categories that will allow you to earn even more. You will earn an unlimited 1.5% cash back on purchases, 5% on travel purchased through Chase, 5% cash back on grocery store purchases (not including Target® or Walmart® purchases) on up to $12,000 spent in the first year and 3% back on dining at restaurants and at drugstores. There is also a unique welcome bonus worth up to $300 in cash rewards. You will earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year). That means you will earn a total of 6.5% on travel purchased through Chase Ultimate Rewards®, 4.5% on dining and drugstores, and 3% on all other purchases your first year (up to the maximum noted). It is easy to see how your cash back rewards will add up incredibly quickly, especially your first year.

Choose Your Bonus Category

Bank of America® Customized Cash Rewards credit card

Apply Now
on Bank of America®’s secure site
Recommended Credit Score
Excellent/Good
Show Card Details +

Bank of America® Customized Cash Rewards credit card

With the Bank of America® Customized Cash Rewards credit card you get to decide which category you’ll earn 3% back in each month. You can select from gas, online shopping, dining, travel, drug stores, or home improvement/furnishings while also earning 2% back at grocery stores and wholesale clubs. The bonus cash back earned in these combined categories (your choice, grocery and wholesale clubs) is capped at $2,500 in purchases each quarter. You’ll earn 1% after that cap is hit and on all of your other purchases. To sweeten the deal, you’ll also earn a $200 online cash back rewards bonus after you make at least $1,000 in purchases on your card within the first 90 days of your account opening. That’s an additional 20% back on your first $1,000 spent! That is a huge list of perks for a card with no annual fee.

As you can see, it is a great time to be in the market for a new cash back credit card. Issuers are really stepping up their game and offering incredible perks to win your business. If you have good to excellent credit in the 670 – 850* range and have not recently applied for a new credit card then you should definitely apply for one of these stand out options today.


Editorial Note: Any opinions, analyses, reviews or recommendations expressed are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.
*CardCritics references a FICO® 8 score, which is one of many different types of credit scores. A financial institution may use a different score when evaluating your application.