Reviews Wells Fargo Cash Back Visa card review
Wells Fargo Cash Back Visa card review

Wells Fargo Cash Back Visa card review

Published: December 2, 2016
Ratings Policy
Cash Back Rating:
2.9 rating
2.9 rating
2.9 / 5
Rewards Value 1.5
Annual Percentage Rate 2.2
Rewards Flexibility 4.7
Features 3.0

In a nutshell:

While the Wells Fargo Cash Back Visa card offers unlimited 5 percent cash back in three popular consumer categories for six months, the card unfortunately only offers a 1 percent rewards rate after that.

Rewards Rate
1% cash back on general purchases

Sign-up Bonus
5% cash back on gas, grocery and drugstore purchases for 6 months

Annual Fee
None

APR
12.15-25.99%

Estimated Yearly Rewards Value ($1,325 monthly spend)
$209

APR
12.15-25.99%

Rewards Redemption
Pros

  • No limits on cash back
  • Deposit rewards automatically into checking account
  • Redeem cash back as a statement credit or get payment by check
  • Earn bonus rewards on merchandise at the Earn More Mall

Cons

  • Short, non-rotating 5% cash back period
  • $25 minimum redemption

Other Notable Features: Fraud protection, car rental insurance, cellphone insurance, shopping discounts, roadside assistance

This offer is no longer available.

The Wells Fargo Cash Back card gives you just 1 percent cash back on general purchases. But for the first six months, you can make out like a bandit with 5 percent bonus cash on gas, grocery and drugstore purchases.

In addition, the card offers some decent benefits for a no-fee card, including cellphone insurance and special cash back offers through the Earn More Mall from Wells Fargo. All of this makes the card reasonably valuable for the first year of membership, although it is less appealing as a long-term cash back card.

Unlimited bonus rewards for six months

The 5 percent cash back for the first six months comes without restrictions. Spend as much or as little as you want and get unlimited cash back.

Easy redemption options

This is one credit card that won’t make you jump through hoops when it comes to redeeming cash back. There are multiple ways of claiming cash rewards, including redeeming cash as a statement credit, depositing it into your account, getting a check and more.

Cellphone insurance

The card offers cellphone insurance, which is an unusual benefit – especially for a no-fee card – and one many consumers may find useful. If you lose your cellular phone, Wells Fargo covers your losses, subject to a $25 deductible, at $600 per occurrence for up to two occurrences per calendar year.

Zero percent balance transfer

The Wells Fargo Cash Back card comes with a respectable 15-month zero percent balance-transfer offer. If you do transfer a balance, however, you shouldn’t plan to actively use the card to earn rewards, since running up new debts defeats the purpose of debt consolidation in the first place.

Reasons to sign up for it:

  • You’re looking for a cash back card with a large bonus up front.
  • You want a simple cash back card that doesn’t require you to keep track of rotating categories.
  • You have a Wells Fargo banking account.

How to use it:

  • Use it for 5 percent cash back on grocery, gas and drugstore purchases for the first six months. No registration is necessary.
  • Consider buying gift cards from vendors in the above categories in the first six months to maximize your earning potential.
  • Buy your cellphone with the card to ensure your phone is covered by the card’s cellphone insurance.

All reviews are prepared by CreditCards.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including card rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the bank’s website for the most current information. 

Responses to comments in the discussion section below are not provided, reviewed, approved, endorsed or commissioned by our financial partners. It is not our partner’s responsibility to ensure all posts or questions are answered.