Wells Fargo Energetic Money bank card overview: Full particulars

The no-annual-fee Wells Fargo Energetic Money® Card (see charges and charges) affords a strong 2% cash-back on purchases and an interesting welcome provide. And with no annual price and a handful of different perks, it could possibly be a superb possibility for many who desire a rewarding but easy card of their wallets. Card Score*: ⭐⭐⭐½

*Card Score relies on the opinion of TPG’s editors and isn’t influenced by the cardboard issuer.

Bank card rewards can typically be difficult with limited-time affords, switch companions and excessive annual charges. The Wells Fargo Energetic Money card takes a easy method by providing limitless 2% money rewards on purchases. It would not carry an annual price or have any bonus classes to recollect.

It is also a Visa Signature® card, which has many perks and advantages typically seen on extra premium playing cards. You may desire a credit score rating of 670 or increased for the most effective likelihood at approval.

This is every part you must know concerning the Wells Fargo Energetic Money card.

The Wells Fargo Energetic Money card is at the moment providing a $200 money rewards bonus once you spend $500 in purchases within the first three months of account opening.

This does not maintain a candle to the worth you will get with one of many high journey rewards playing cards in the marketplace, but it surely’s fairly customary for a cash-back card with no annual price.

A few of the extra notable perks on the Energetic Money embrace cellphone safety and 0 legal responsibility safety. Once you pay your month-to-month cellphone invoice with the Energetic Money card, Wells Fargo will cowl as much as $600, topic to a $25 deductible (as much as twice per 12 months) for harm or theft.

In the meantime, with zero legal responsibility safety, if an unauthorized buy is made in your bank card, the exercise can be promptly reported, and you’ll not be held accountable.

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The Wells Fargo Energetic Money can be a Visa Signature® card and comes outfitted with advantages corresponding to 24/7 concierge service and entry to Visa’s Luxurious Resort Assortment.

These are some strong advantages for a card with no annual price.

The Wells Fargo Energetic Money card is an effective way to earn an ordinary fee of return on purchases. With it, you will earn 2% within the type of money rewards on purchases — together with journey, rideshare companies, eating and extra. Money rewards is not going to expire so long as the account stays open.

There aren’t any bonus classes, so all qualifying purchases will earn the identical cash-back rewards. Nonetheless, cardholders don’t earn money rewards on stability transfers, money equivalents (like present playing cards and cash orders), lottery tickets or on line casino chips.

The money rewards you earn with the Energetic Money card will be redeemed as assertion credit to cowl purchases beginning at $1. Nonetheless, you need to have sufficient rewards in your account to cowl your complete transaction. In different phrases, the $200 in rewards you earn as a part of the welcome provide cannot be used for an announcement credit score on a $300 buy.

Money rewards will also be redeemed for a deposit to your Wells Fargo checking account or as a cost towards the principal on a Wells Fargo mortgage. Different redemption choices embrace money from a Wells Fargo ATM in $20 increments (solely accessible with a Wells Fargo debit card) and present playing cards in $25 increments.

Whereas this card would not provide as many redemption choices as a few of our favourite journey rewards playing cards, the simplicity has its personal enchantment. TPG bank cards author Emily Thompson loves the flexibility of cash-back rewards to cowl something from journey bills to an surprising house restore.

The money rewards bank card world is full of no-annual-fee playing cards, however just a few can examine to the Energetic Money.

For added choices, take a look at our full checklist of the most effective cash-back bank cards.

Associated: Flat-rate vs. bonus-category cash-back bank cards

The shortage of an annual price makes the Wells Fargo Energetic Money card interesting to all kinds of bank card customers, but it surely’s a very good possibility for freshmen. Nonetheless, the cardboard does have a 3% international foreign money conversion price, so cardholders who recurrently journey or spend internationally ought to rethink and go for a card with out international transaction charges.

The Wells Fargo Energetic Money card is a good cash-back rewards card for individuals in search of a easy rewards construction. Some extra skilled bank card customers might really feel it’s lacking the power to maximise incomes potential. Nonetheless, for those who’re out there for a no-frills money rewards card with no annual price, the Wells Fargo Energetic Money card could possibly be the right addition to your pockets.

Apply right here: Wells Fargo Energetic Money Card