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Wells Fargo is one of America’s biggest financial institutions, with branches all across the country. It offers a range of different credit card options.
This review will focus on one of its newest cards, the Wells Fargo Reflect SM as well as the Wells Fargo Active Cash card. We will consider each of the commonalities and contrasts between these two options, allowing you to figure out which could be the better option for you and if you really need it.
Compare Them Side by Side
Simulation: Which Card Gives More Rewards?
As the Wells Fargo Active Cash card is the only one of these two cards that offers a cashback offering, that is where we will focus on in our worked-out example
| |
|---|---|
Spend Per Category | Wells Fargo Active Cash℠ |
$10,000 – U.S Supermarkets | $200 |
$3,000 – Restaurants
| $60 |
$1,500 – Airline | $30 |
$1,500 – Hotels | $30 |
$4,000 – Gas | $80 |
Annual Value – First Year | $600 |
Annual Value | $400 |
The Wells Fargo Active Cash card provides you with consistency across the board, no matter what types of purchases that you are making. This makes up for the lack of premium cashback rates that are often available elsewhere for certain categories of spending.
Compare Welcome Bonus And Fees
The Wells Fargo Active Cash signup bonus sees you getting a cash bonus of $200 cash rewards bonus when you spend $500 in purchases in the first 3 months. For the Reflect card, you will be able to get 0% intro APR for 21 months on purchases and balance transfers, then 18.24% to 29.99% variable APR.
Neither of these cards has an annual fee, with both charging a 3% foreign transaction fee. There is 0% intro APR for 15 months on purchases and qualifying balance transfers with the Wells Fargo Active Cash ( then 20.24% to 29.99% variable APR), shorter compared to the Reflect card. Balance transfers made within 120 days qualify for the intro rate and fee of 3% then a balance transfer fee of $5 or 5% (the greater).
Compare The Perks
There are many different features associated with credit cards. They can vary by issuer and by card type. Here are some of the things that these two cards have to offer people:
Cell Phone Protection: You will get up to $600 worth of cell phone protection when you pay your phone bill through these cards.
Zero Liability Protection: There is built-in protection with bot cards that means you will not be held responsible for any unauthorized transactions that you have promptly reported.
Security Features: Both cards allow you to access advanced security features, such as 2-step authentication and voice verification when signing into your account.
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The Wells Fargo Active Cash offers some unique features:
Control Tower: You will be able to get secure access to all of your cards and accounts with Wells Fargo in a single location.
Luxury Hotel Collection: There are some great perks associated with the best hotels in the world.
Concierge Service: There is 24/7 complimentary concierge service with this card.
The Wells Fargo Reflect offers some unique features:
My Wells Fargo Deals: you can access a variety of different types of deals through this offering.
Roadside Dispatch: You will get access to 24/7 on-demand referral dispatch for roadside emergency assistance.
Compare The Drawbacks
There are no perfect financial products, so it is important to be aware of the potential drawbacks of a new credit card before you sign up.
Here we’ll highlight some of the possible negatives to help you make an informed decision.
Wells Fargo Active Cash℠
- Lack of Bonus Categories
You will get 2% cashback across the board, with no higher cashback rates being available.
- $25 minimum redemption
Although this is a common factor between the two cards, Citi does allow its customers to convert rewards to Thank You Points from $1. So, if you are struggling to reach that $25 balance, it can be frustrating.
Wells Fargo Reflect℠ Card
- No Rewards
This card option does not currently provide any out and out cashback rewards.
- No Sign-up Bonus
Unlike the Active cash card, this card doesn't offer a welcome bonus to new cardholders.
Compare Redemption Options
The Wells Fargo Active Cash card sees you earning 2% on every single purchase that you make, with no cap in place. You are able to redeem the rewards in numerous ways. This includes as statement credit, as cash, withdrawn at an ATM or redeemed as a gift card.
You can also use the rewards when paying through PayPal at online checkout. The Reflect card currently has no cashback rewards on offer.
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How to Maximize Cards Benefits?
If you want to make the best use of your Active Cash Card, there are some tips to help you:
Utilize Alongside Other Cards: The Wells Fargo Active Cash card is great for having a high base cashback rate. You might have another card that has a premium rate available for certain purchase categories that can give you a better overall return.
Utilize the Rewards: You should look at the most optimal way in which you can use the resulting rewards for your needs.
Maximize the Signup Offer: You should make sure that you take advantage of the great signup bonus that the Wells Fargo Active Cash Card offers.
This card does not currently offer any cashback rewards. The best way to leverage the Reflect Card benefits is to use the long 0% intro APR it offers. You can get 21 months on purchases and balance transfers and 3 additional months, as long as you pay on time. You can leverage this card to fund a big purchase or to pay off debt.
Customer Reviews: Which Card Wins?
Both of these cards are relatively new, so there are not too many customer reviews.
For the Wells Fargo Active Cash card, the positive reviews will talk about the consistency this offering provides, while the negatives will regard the lack of more premium cashback rates.
For the Reflect card, people were not pleased with the lack of cashback rewards.
Wells Fargo | |
|---|---|
App Rating (iOS)
| 4.8 |
App Rating (Android) | 4.8 |
BBB Rating (A-F) | N/A |
Contect Options | phone/social |
Availability | 24/7 |
When You Might Want the Active Cash Card?
The Wells Fargo Active Cash is a great option that could be good you're looking for:
Want Predictability: If you want to have predictability when it comes to your rewards, then this card is for you. This is because you will consistently get a 2% return.
Want Flexibility in Redeeming Rewards: This card offers you a great range of ways in which you can redeem the rewards that this card offers.
Easy to Use: In contrast to other cash back cards such as the Chase Freedom Flex or Blue Cash Preferred from American Express, There are no rotating bonus categories to consider or different cashback rates for different categories of purchases, making the user experience very straightforward.
When You Might Want the Reflect Card?
The Wells Fargo Reflect℠ Card is a solid choice if you're looking for:
Cost-Effective: If you want a credit card that has no annual fee.
Extended 0% APR: You can get 0% APR intro for 21 months on purchases and balance transfers.
Compare The Alternatives
The Wells Fargo Active Cash looks to be the better option for these two cards. It carries no annual fee, has a good cash-based signup offer, and provides you with consistent 2% cashback across all of your purchases.
The Reflect card does not offer any cashback rewards, so is not going to be preferred by many customers.
Lastly, there are some alternatives that you may want to take a look before applying.
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|
| |
|---|---|---|---|
Chase Freedom Flex℠ Card | Capital One Venture Rewards Credit Card | American Express EveryDay® Card | |
Annual Fee | $0
| $95
| $0
|
Rewards |
1-5%
|
2X – 5X
2X miles per dollar on every purchase, plus 5X miles on hotels and rental cars booked through Capital One Travel
|
1X – 2X
2X points at U.S. supermarkets (up to $6,000 per year, then 1X), 2X points on prepaid rental cars booked through American Express Travel and 1X points on all other purchases
|
Welcome bonus |
$200
|
75,000 miles
75,000 miles once they spend $4,000 on purchases within 3 months from account opening
|
10,000 points
10,000 points after you spend $1,000 in purchases on your new card within the first 3 months
|
Foreign Transaction Fee | 3%
| $0
| 2.7%
|
Purchase APR | 20.49%–29.24% variable
| 19.99% – 29.99% (Variable)
| 18.24% – 28.24% Variable
|
FAQ
You will not have to deal with any sort of limit when it comes to the cash back rewards that you can get through the Wells Fargo Active Cash Card.
Yes, you can get pre-approval through the Wells Fargo website. This provides you with a greater level of flexibility and you do not have to initially subject yourself to a hard credit check.
You are not able to earn any sort of rewards when you are using the Wells Fargo Reflect Card to make purchases, so there is no such redeemability in place for you to consider.
When you are signing up for the Wells Fargo ReflectSM Card, there are no out and out income requirements and normally you will not have to provide proof of income.
Compare Wells Fargo Active Cash
When both cards offer the same flat rate cashback, we should see beyond it. Which card is better? Here's The Smart Investor full analysis.
Citi Double Cash vs Wells Fargo Active Cash: Which Card Wins?
The Wells Fargo Active Cash is best for cashback and everyday spending, while the Autograph is a clear winner when it comes to travel rewards.
Wells Fargo Active Cash vs. Autograph Card: How They Compare?
The Active Cash card offers flat-rate cashback, while the Unlimited card is the winner for travel. Here's a side-by-side comparison.
While the Quicksilver card offers unlimited flat-rate cashback rewards, the Active Cash card offers a higher cashback ratio. Let's compare.
While Discover it Cash Back offers higher cashback rewards for some categories, the Active Cash card is our winner. Here's why.
Discover it Cash Back vs Wells Fargo Active Cash: Side By Side Comparison
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Compare Wells Fargo Reflect Card
The Autograph Card is best for earning rewards on common travel categories, while the Reflect Card is a better option for a long 0% intro APR.
BankAmericard is the winner, offering a longer 0% intro period on purchases than the Reflect card and a lower APR. Here's our comparison.
BankAmericard vs. Wells Fargo Reflect Card: How They Compare?
Both the Citi Diamond Preferred and the Wells Fargo Reflect card don't offer rewards or welcome bonuses, but a 0% intro APR. Which card wins?
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