Wells Fargo recently released a stellar flat-rate cashback credit card, the Wells Fargo Active Cash℠ Card.

It’s aimed at applicants with excellent/good credit who want to earn unlimited 2% cash rewards on purchases for a $0 annual fee. If you don’t like keeping track of rewards categories, this card makes it easy.

The Wells Fargo Active Cash℠ Card isn’t the first flat-rate 2% cashback card, of course. Consumers looking to earn a high cashback rate on every purchase have long turned to the Citi® Double Cash Card – 18 month BT offer. The latter card lets you earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. And its annual fee is also $0.

However, cardholders with the Citi® Double Cash Card earn half their cash back after making a purchase and the rest after paying on the card. If you prefer to earn all your cash back upfront, you might like the Wells Fargo Active Cash℠ Card better. Plus, the Wells Fargo card offers the chance to earn a sign-up bonus as well as generous purchase and balance transfer intro APR deals.

• Valuable sign-up bonus

  Earn a $200 cash rewards bonus after spending $1,000 on purchases in the first 3 months. Putting approximately $333.33 per month on the card should allow you to hit this spend requirement.

• Earn flat-rate cash back

  Earn unlimited 2% cash rewards on purchases. Unlike with some other cashback cards, there are no bonus categories to activate or spending categories that earn more cash back than other purchases — just a solid flat rate on every purchase you make. Redemption options include:

  • To cover past purchases (can be as little as $1).
  • As a credit to a qualified Wells Fargo mortgage, loan or credit product account.
  • For cash in $20 increments at an ATM (when you use your Wells Fargo ATM or debit card).
  • Toward gift cards from a variety of retailers.

• Intro APR on purchases and balance transfers

  If you need to make a big purchase and want to pay it off over time without incurring interest charges, the Wells Fargo Active Cash℠ Card can help you do that with a 0% intro APR for 15 months from account opening. After, a 14.99%-24.99% (variable) APR applies.

  There’s also a 0% intro APR for 15 months from account opening on qualifying balance transfers. After, a 14.99%-24.99% (variable) APR applies. The balance transfer fee is 3% intro for 120 days from account opening, then up to 5%; min: $5. If you need to pay off high-interest debt from another card, this is a solid deal.

• Cellphone protection

  When you pay your monthly cellphone bill with the Wells Fargo Active Cash℠ Card, you can get up to $600 of protection against damage or theft, subject to a $25 deductible. Terms apply. Maximum of two paid claims per 12-months period, with each claim being eligible for up to $600 of coverage.

• $0 annual fee

  The nice thing about cashback cards with no annual fee is that, as long as you don’t incur interest charges or other fees, everything you earn in rewards is net cash back from the very start. That’s the case with the Wells Fargo Active Cash℠ Card and its $0 annual fee.

• You might end up with a high APR

  This card’s APR range is 14.99%-24.99% (variable). We recommend always paying in full each billing cycle so as to avoid interest charges, but we understand that might not always be possible. If you do need to roll over a balance from time to time, and your APR has been set at the higher end of the Wells Fargo Active Cash℠ Card‘s range, be aware the interest charges you incur could be expensive. But know that interest charges will be waived during the initial intro APR period.

• Sign-up bonus and intro APR eligibility restrictions

  You might not be eligible for the introductory APR periods or the sign-up bonus on the Wells Fargo Active Cash℠ Card if you’ve opened a Wells Fargo credit card within 15 months of applying for this card and received an introductory APR period, introductory fees, or a bonus reward offer. That restriction holds true even if your old Wells Fargo card is now closed and has a $0 balance.

• There's a foreign transaction fee

  The Wells Fargo Active Cash℠ Card charges a 3% foreign transaction fee, so if you’re traveling abroad, leave this card at home and take one with no foreign transaction fee instead.

Compare it to the Chase Freedom Flex℠

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Chase Freedom Flex℠

(22) Reviews

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Chase Freedom Flex℠

(22) Reviews

Intro Purchase APR 0% Intro APR on Purchases for 15 months

Regular Purchase APR 14.99% - 23.74% Variable

Annual Fee $0

Rewards Rate Earn 5% cash back on eligible purchases in rotating categories, 5% on travel purchased through Chase, 3% on dining and drugstores, and 1% on all other purchases.… Read More

Highlights

• Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.
• Earn 5% cash back on grocery store purchases (not including Target® or Walmart® purchases) on up to $12,000 spent in the first year.
• Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter!
• Earn 5% on Chase travel purchased through Ultimate Rewards®, 3% on dining and drugstores, and 1% on all other purchases.
• No annual fee.
• 0% Intro APR for 15 months from account opening on purchases, then a variable APR of 14.99 - 23.74%.
• No minimum to redeem for cash back. Cash Back rewards do not expire as long as your account is open.

Typical Credit Needed

680 850

Show Detailsfor Citi Double Cash Card

Cardholders willing to activate rotating bonus categories each quarter can get significant value from the Chase Freedom Flex℠. Earn 5% cash back on eligible purchases in rotating categories, 5% on travel purchased through Chase, 3% on dining and drugstores, and 1% on all other purchases.

Some examples of past rotating 5% cashback categories Chase has offered include the following:

• Grocery stores (excluding Target and Walmart) and select streaming services.
• Gas and home improvement stores.
• Walmart and PayPal.

Plus, earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening. And earn 5% cash back on grocery store purchases (not including Target® or Walmart® purchases) on up to $12,000 spent in the first year. This card offers a lot of value for a $0 annual fee.

The Chase Freedom Flex℠ also offers cellphone protection of up to $800 per claim ($50 deductible). There’s a cap of $1,000 per year and a maximum of two claims per 12-month period.

Before you apply, however, make sure you’re in the clear with the unwritten Chase 5/24 rule. In short, if you’ve opened five or more cards from any issuer in the past 24 months, Chase will deny your application.

The Wells Fargo Active Cash℠ Card keeps things simple, and what it does, it does very well. Consumers who value simplicity and want consistent cash back on every purchase for a $0 annual fee will love this card.

If you’re aiming to maximize cash back, consider pairing this card with another. For example, those who spend heavily on groceries might wish to use the Blue Cash Preferred® Card from American Express when swiping at U.S. supermarkets and the Wells Fargo Active Cash℠ Card for all purchases where the Blue Cash Preferred® Card from American Express doesn’t earn a boosted rate.

Be strategic when planning your Wells Fargo Active Cash℠ Card application, however. If you’ve opened any Wells Fargo credit card in the past six months, the bank is likely to deny your application for this one.