The Wells Fargo Active Cash®Card is a popular card due to its flat-rate 2% unlimited cash rewards on purchases perk. With a $200 cash reward (after spending $500 in purchases in the first 3 months) welcome bonus and no annual fees, cardholders can benefit greatly from this card, especially if you're not too keen on earning rewards for flashy perks like hotel credits or free flights.
While it's not necessarily a premium card, the Active Cash Card requires a decent credit score to qualify. Below, CNBC Select breaks down what you need to know to qualify for the card and how you can optimize your chances of getting approved.
What we'll cover
- Credit score needed for the Wells Fargo Active Cash Card
- How to improve your credit score
- Bottom line
Wells Fargo Active Cash® Card
On Wells Fargo's secure site
Rewards
Unlimited 2% cash rewards on purchases
Welcome bonus
Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months
Annual fee
$0
Intro APR
0% intro APR for 12 months from account opening on purchases and qualifying balance transfers. 20.24%, 25.24%, or 29.99% Variable APR thereafter; balance transfers made within 120 days qualify for the intro rate and fee of 3% then a BT fee of up to 5%, min: $5.
Regular APR
20.24%, 25.24%, or 29.99% Variable APR
Balance transfer fee
Intro rate and fee of 3% then a BT fee of up to 5%, min: $5.
Foreign transaction fee
3%
Credit needed
Excellent/Good
See rates and fees, terms apply.
Pros
- Unlimited cash rewards
- $200 cash rewards welcome bonus
- No annual fee
- Introductory APR period for first 12 months
- Access to Visa Signature® Concierge
- Get up to $600 cell phone protection (subject to a $25 deductible)
Cons
- 3% fee charged on foreign transactions
Credit score needed for the Wells Fargo Active Cash Card
To be eligible for the Wells Fargo Active Cash Card,a credit score within the good to excellent range is typically needed — at least 670or higher according to the FICO® Score range — for the best chance of approval.
However, even if your credit score is up to par, you may still get rejected for the card due to specific factors that the issuer looks at. For example, Wells Fargo may restrict application approval if you've previously opened a Wells Fargo credit card within the last six months. Additionally, Wells Fargo may limit the amount of credit cards you have with them. While there's no clear limit on the number of cards that you're allowed to have with Wells Fargo, they do impose restrictions.
To qualify for the $200 cash rewards bonus, you must also meet certain criteria, including spending at least $500 on purchases within three months of opening the card.
How to improve your credit score
If you find your credit score doesn't quite cut itfor the Wells Fargo Active Cash Card, you may want to work on raising your number before applying. Two of the most important factors that make up your score are your payment history and credit utilization ratio.
The general rule of thumb is to maintain a credit utilization ratio below 30%. So, if your credit limit is $1,000, aim to spend under $300. Also, be sure to make your monthly payments on time and in full.
Another way you could boost your score is with a service like *Experian Boost™, which allows you to add payment activity that's usually not reported to the credit bureau (such as utility, telecom and streaming service bills) to your credit file.
Experian Boost™
On Experian's secure site
Cost
Free
Average credit score increase
13 points, though results vary
Credit report affected
Experian®
Credit scoring model used
FICO® Score
Results will vary. See website for details.
How to sign up for Experian Boost:
- Connect the bank account(s) you use to pay your bills
- Choose and verify the positive payment data you want added to your Experian credit file
- Receive an updatedFICO® Score
Learn more about eligible payments and how Experian Boost works.
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FAQs
Is it hard to get approved for the Wells Fargo Active Cash®Card?
It may be hard to get approved for the Wells Fargo Active Cash card if your credit score isn't at least 670 or higher. While there's no strict minimum requirement, the card typically approves those with a credit score within the good to excellent range.
What is the minimum credit limit for the Wells Fargo Active Cash®Card?
The Wells Fargo Active Cash Card offers a minimum credit limit of $1,000.
Why was I not approved for the Wells Fargo Active Cash®Card?
Wells Fargo may reject your credit card application for various reasons, including an inadequate credit score, having too many existing accounts or if you've opened a new card within the past six months. If you've been denied, you'll likely receive a written notice explaining the reasons why you don't qualify. Be sure to read the letter thoroughly and call the issuer if you have any questions.
Bottom line
To qualify for the Wells Fargo Active Cash®Card, you typically need at least a FICO®score of at least 670. However, the issuer also looks at other factors, such as the amount of credit card accounts you have and the time frame from which you opened a new account.
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At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every credit card review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of credit card products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.
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Read more
Wells Fargo Active Cash Card review: A 2% flat-rate cash-rewards card with a welcome bonus
Here are the best Wells Fargo credit cards — all with no annual fee
The beginner's guide to credit scores: How to understand and improve your credit score
Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.
