Wells Fargo Active Cash Card Review 2024 – Forbes Advisor – Technologist

Wells Fargo Active Cash® Card vs. Citi Double Cash® Card

Move over Double Cash; the Active Cash is giving you a run for your money. The Citi Double Cash® Card is another no annual fee card offering an unlimited 2% cash back on all purchases—1% when purchases are made and another 1% when they’re paid off.

Those who want a longer intro period for balance transfers should choose the Citi Double Cash® Card: It offers a 0% intro APR on balance transfers for 18 months. After that, the standard variable APR will be 19.24% – 29.24%, based on creditworthiness. An intro balance transfer fee of either $5 or 3%, whichever is greater, applies to transfers completed within the first 4 months of account opening. After that, the fee will be 5% of each transfer (minimum $5). The Double Cash earns ThankYou Points which can be redeemed at a potentially greater value when transferred to airline and hotel partners. The Double Cash lacks cellphone protection offered on the Active Cash, but it does offer a welcome bonus: Earn $200 cash back after spending $1,500 on purchases in the first 6 months of account opening, fulfilled as 20,000 ThankYou® Points.

Which one is better? It’s too close a fight to call. The two cards are well matched, and it ultimately comes down to which one is a better fit for your needs.

Compare: Wells Fargo Active Cash® vs. Citi Double Cash® Card

Wells Fargo Active Cash® Card vs. Chase Freedom Unlimited®

The Wells Fargo Active Cash is the simpler alternative to cards like the Chase Freedom Unlimited®. The Freedom Unlimited offers cash back with some additional complexity: Earn 5% cash back on travel purchased through Chase Travel℠, 3% cash back on eligible dining and drugstores and 1.5% on all other purchases, plus an additional 1.5% cash back on the first $20,000 in purchases the first year. Will the 5% and 3% cash-back categories make up for the missing 0.5% cash back on everything else? That’s a question each potential cardholder must decide based on their financial situation, budget and spending patterns.

The Chase Freedom Unlimited® offers more benefits, including purchase protection, extended warranties and a number of travel protections. The Active Cash only offers cellphone protection. The Freedom Unlimited offers an introductory APR: 0% introductory APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49% – 29.24% applies. An intro transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater, applies in the first 60 days of account opening. After that, a fee of either $5 or 5% of the amount of each transfer applies. Both cards have similar welcome bonuses, but the Freedom Unlimited is structured differently: an additional 1.5% cash back on up to $20,000 spent in the first year, worth up to $300 cash back.

For some, the Chase Freedom Unlimited® will make more sense. For others, the Active Cash is simple and easy to calculate. The cards may make a good pair for some, but it’s more likely that using the Active Cash paired with a card offering additional higher-earning categories and an even wider array of benefits would better serve most people.

Wells Fargo Active Cash® Card vs. Discover it® Cash Back

The no annual fee Discover it® Cash Back offers a cash-back rewards scheme that requires a second read to fully understand: Earn 5% cash back on everyday purchases at different places each quarter up to a quarterly maximum of $1,500 in spending when activated. Plus, earn unlimited 1% cash back on all other purchases – automatically.

Also offering an introductory APR, the Discover it® Cash Back is similar to the Active Cash. Specifically, it has a 0% introductory APR for 15 months on purchases and eligible balance transfers. Then, a standard rate of 17.24% – 28.24% variable applies. A balance transfer fee of up to 5% of the amount transferred applies. Since it lacks major travel benefits, the Discover it® Cash Back will not be ideal for those looking to use the card on their next trip.

It’s likely that the best use of each of these cards would be to pair them together. Use the Discover it® Cash Back to earn on qualifying bonus categories and the Active Cash for all other purchases. For those who want only one card for all spending needs, we’d recommend the Active Cash in most situations.