Comparing Wells Fargo 2 percent cash back card to others

In this article, we will explore the Wells Fargo 2 Percent Cash Back Card and how it stacks up against other popular cash back credit cards. We’ll break down its features, benefits, and drawbacks, and compare it with the Citi Double Cash Card. This will help you decide which card might be best for your spending habits and financial goals.

Key Takeaways

• The Wells Fargo 2 Percent Cash Back Card offers a straightforward 2% cash back on all purchases.
• Unlike the Citi Double Cash Card, which gives 1% cash back when you buy and another 1% when you pay, Wells Fargo’s card simplifies the process.
• Both cards have no annual fees, making them accessible for most users.
• Wells Fargo provides additional perks like cell phone protection and a sign-up bonus, enhancing its value.
• Foreign transaction fees on the Wells Fargo card may be a drawback for international travelers.

Overview of the Wells Fargo 2 Percent Cash Back Card

The Wells Fargo 2 Percent Cash Back Card is designed for those who want to earn cash back on every purchase. With this card, you can earn unlimited 2% cash back on all your spending, making it a great choice for everyday expenses.

Key Features and Benefits

• Unlimited Cash Back: You earn 2% on every purchase, with no limits.
• No Annual Fee: There’s no cost to keep this card, which is a big plus.
• Sign-Up Bonus: Earn a $200 cash rewards bonus after spending $500 in the first 3 months.

Eligibility and Application Process

To apply for the Wells Fargo 2 Percent Cash Back Card, you typically need:

1. A good credit score (usually around 700 or higher).
2. To be at least 18 years old.
3. A valid Social Security number.

You can apply online or at a Wells Fargo branch.

Fees and Interest Rates

Here’s a quick look at the fees and interest rates associated with this card:

Fee Type	Amount
Annual Fee	$0
Foreign Transaction Fee	3%
Introductory APR	0% for 12 months
Regular APR	19.74% – 29.74% Variable

The Wells Fargo 2 Percent Cash Back Card is a solid option for anyone looking to earn cash back without the hassle of tracking categories.

Overall, this card stands out for its simplicity and benefits, making it a strong contender in the cash back card market.

Comparing Wells Fargo 2 Percent Cash Back Card with Citi Double Cash Card

Cash Back Structure

Both the Wells Fargo 2 Percent Cash Back Card and the Citi Double Cash Card offer a 2% cash back on purchases, but they do it differently:

• Wells Fargo: Earn 2% on all purchases.
• Citi Double Cash: Earn 1% when you buy and another 1% when you pay it off.

This means that while both cards offer the same cash back rate, the way you earn it can affect your overall rewards.

Sign-Up Bonuses

When it comes to sign-up bonuses, there are some differences:

Card	Bonus Details
Wells Fargo 2% Cash Back	$200 after spending $500 in the first 3 months
Citi Double Cash	$200 after spending $1,500 in the first 6 months

The Wells Fargo card offers a lower spending requirement for the bonus, making it easier to earn quickly.

Redemption Options

Both cards provide flexible redemption options, but here’s how they differ:

• Wells Fargo: Cash back can be redeemed as a statement credit or direct deposit.
• Citi Double Cash: Cash back can be redeemed as a statement credit, but you won’t earn the second 1% if you do this.

The choice between these cards often comes down to how you prefer to earn and redeem your rewards.

In summary, while both cards offer similar cash back rates, the Wells Fargo 2 Percent Cash Back Card is simpler and may be more beneficial for those who want straightforward rewards without the need to pay off purchases to earn the full cash back.

Advantages of the Wells Fargo 2 Percent Cash Back Card

Unlimited Cash Back

The Wells Fargo 2 Percent Cash Back Card offers unlimited cash back on all purchases. This means you earn 2% back every time you spend, without any limits. This straightforward approach makes it easy to understand how much you earn.

Cell Phone Protection

Another great feature is cell phone protection. If you pay your cell phone bill with this card, you can get coverage for damage or theft. This can save you money on repairs or replacements, making it a valuable benefit for cardholders.

Introductory APR Offers

The card also provides introductory APR offers. You can enjoy 0% APR on purchases for the first 12 months. This is helpful if you need to make a big purchase and want to pay it off over time without interest.

Feature	Details
Cash Back Rate	2% on all purchases
Cell Phone Protection	Yes, when bill is paid with the card
Introductory APR	0% for first 12 months

The Wells Fargo 2 Percent Cash Back Card is designed for those who want a simple and effective way to earn cash back on their everyday spending.

Overall, these advantages make the Wells Fargo 2 Percent Cash Back Card a strong choice for anyone looking to maximize their rewards without complicated rules or limits.

Disadvantages of the Wells Fargo 2 Percent Cash Back Card

Foreign Transaction Fees

One of the main drawbacks of the Wells Fargo 2 Percent Cash Back Card is its 3% foreign transaction fee. This fee can add up quickly if you use the card while traveling abroad, making it less appealing for international purchases. Many competing cards do not charge this fee, which can be a significant disadvantage for frequent travelers.

Limited Travel Benefits

While the card offers a solid cash back rate, it lacks some of the travel perks that other cards provide. For example, it does not offer travel insurance or rewards for travel-related purchases, which can be a downside for those who travel often and want to maximize their benefits.

No Transfer Partners

Another limitation is that the Wells Fargo card does not allow you to transfer your cash back rewards to travel partners. This means you cannot convert your cash back into airline miles or hotel points, which can be a disadvantage for those who prefer to use their rewards for travel.

Overall, while the Wells Fargo 2 Percent Cash Back Card has its strengths, these disadvantages can impact its appeal for certain users.

In summary, here are the key disadvantages:

• 3% foreign transaction fee
• Limited travel benefits
• No transfer partners for rewards

Other Notable 2 Percent Cash Back Cards

When it comes to credit cards that earn 2% cash back on all purchases, there are several options worth considering. Here are some notable cards:

Upgrade Cash Rewards Elite Visa

• Cash Back Rate: 2.2% cash back after making monthly payments.
• Bonus Offer: $200 bonus after opening a Rewards Checking Plus account and making 3 debit card transactions.

Ally Unlimited Cash Back

• Cash Back Rate: Unlimited 2% cash back on all purchases.
• Bonus Offer: N/A.

Alliant Cashback Visa Signature

• Cash Back Rate: 2.5% cash back on all purchases (up to $10,000 in qualifying purchases each billing cycle, then 1.5%).
• Bonus Offer: N/A.

Card Name	Cash Back Rate	Bonus Offer
Upgrade Cash Rewards Elite Visa	2.2%	$200 after 3 debit transactions
Ally Unlimited Cash Back	2%	N/A
Alliant Cashback Visa Signature	2.5%	N/A

Many credit cards that earn 2% cash back or more on all purchases used to be exceedingly rare, but more and more cards are hitting the 2% mark.

These cards provide great options for those looking to maximize their cash back rewards. Each card has its own unique features, so it’s important to choose one that fits your spending habits and financial goals.

How to Maximize Benefits with the Wells Fargo 2 Percent Cash Back Card

Optimal Spending Strategies

To get the most out of your Wells Fargo 2 Percent Cash Back Card, consider these tips:

• Use the card for all purchases to earn unlimited cash back.
• Pay your balance in full each month to avoid interest charges.
• Take advantage of bonus categories if available, to maximize rewards.

Redeeming Rewards Efficiently

When it comes to redeeming your cash back, keep these points in mind:

1. Opt for statement credits to reduce your balance directly.
2. Consider cash withdrawals at Wells Fargo ATMs for immediate access.
3. Use rewards for gift cards to get more value out of your cash back.

Combining with Other Wells Fargo Products

You can enhance your benefits by using your card alongside other Wells Fargo services:

• Link your card to a Wells Fargo checking account for easier management.
• Explore additional rewards programs offered by Wells Fargo.
• Utilize financial tools provided by Wells Fargo to track your spending and rewards.

Maximizing your cash back rewards is all about smart spending and efficient redemption.

By following these strategies, you can make the most of your Wells Fargo 2 Percent Cash Back Card and enjoy the benefits it offers!

Customer Reviews and Feedback

Positive Experiences

Many users have shared their satisfaction with the Wells Fargo 2 Percent Cash Back Card. Here are some common praises:

• Easy application process
• Generous cash back rewards
• Helpful customer service

Common Complaints

Despite the positive feedback, some customers have raised concerns:

1. Foreign transaction fees can be a drawback for travelers.
2. Limited travel benefits compared to other cards.
3. Some users dislike the four payments a month online policy, as mentioned in reviews.

Overall Satisfaction

Overall, many customers feel that the Wells Fargo 2 Percent Cash Back Card offers good value. However, it’s essential to weigh the pros and cons before applying.

“The 0% APR at first was great! Pretty darn good cashback!” – A satisfied customer.

Final Thoughts on Cash Back Cards

In conclusion, when it comes to cash back credit cards, the Wells Fargo Active Cash® Card stands out for its simplicity and benefits. It offers a straightforward 2% cash back on all purchases without any tricky rules. Plus, you get a nice bonus when you spend a little at first. While the Citi Double Cash® Card also gives 2% cash back, it does it in a more complicated way, which might confuse some users. Both cards have no annual fees, but if you want a hassle-free experience, the Wells Fargo card is likely the better choice. Overall, think about how you spend and what rewards matter most to you before deciding.

Frequently Asked Questions