At 2% cash back, the Active Cash would earn $641.44 cash back per year in rewards.
The 70th percentile of wage-earning households bring in $107,908 annually and we base spending on that number.įorbes Advisor estimates the household has $32,072 in expenses that can be reasonably charged to a credit card. Forbes Advisor uses data from various government agencies in order to determine both baseline income and spending averages across various categories. To determine the rewards potential of the Wells Fargo Active Cash we consider what an American household might spend on a credit card each year. Rewards may be transferred among Wells Fargo Rewards accounts and gifted to other Wells Fargo account holders. Rewards through the Wells Fargo Rewards program may be redeemed for cash back, on purchases, as gift cards, as charitable donations and more. The Wells Fargo Active Cash also comes with a first-year welcome bonus: $200 cash rewards bonus after spending $1,000 in purchases in the first 3 months. Rewards are earned as part of the Go Far Rewards program and do not expire as long as the account is open. Reward earning is simple and straightforward with the Wells Fargo Active Cash: an unlimited 2% cash rewards on purchases. This card is not for the globetrotter: The high 3% foreign transaction fee and lack of any travel benefits makes it a better fit for those who only spend on U.S.-based purchases. Though lighter on additional attributes, this card is best for those who don’t need the bells and whistles but for those whose main concern is wanting to bank cash back. The card also offers cell phone protection benefits and access to Visa Concierge and the Visa Signature Luxury Hotel collection. There are several other flat-rate cash-back cards offering 2%, but the simplicity and ease-of-rewards-earning offered by the Active Cash card make it a delightfully straightforward option. Balance transfers made within 120 days qualify for the intro rate and fee of 3% then a fee of up to 5%, with a minimum of $5 applies makes it a solid option for balance transfers, though it does come with a transfer fee. The 0% intro APR for 15 months from account opening on purchases and qualifying balance transfers, then a 17.24%, 22.24%, or 27.24% variable APR applies. This puts it in competition with the best flat-rate cash-back cards on the market. The Wells Fargo Active Cash earns an unlimited 2% cash rewards on purchases and charges no annual fee.
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