New Wells Fargo Active Cash Card Will Offer 2% Back

Young woman sitting on the floor using a cash-back rewards credit card for online shopping.

Oscar Wong/Getty

Cash-back seekers will soon have another way to earn 2% back on all their purchases, according to a new credit card announcement from Wells Fargo Tuesday. 

When it launches next month, the new no-annual-fee Wells Fargo Active Cash Card will give consumers unlimited 2% cash back on all purchases, which is a relatively uncommon rewards rate. The new card will offer a higher rate and a higher welcome bonus than Wells Fargo’s legacy card, the Cash Wise Visa Card.

Most cash-back rewards cards touting a single earning rate on all purchases offer 1% or 1.5% back, though the once-exclusive club of cards offering 2% back has grown this year. Tuesday’s Active Cash Card announcement follows the public debut of the SoFi Credit Card and TD Bank Double Up Card in March, and the First National Bank of Omaha (FNBO) Evergreen Card in April. 

The Wells Fargo Active Cash Card is a competitive addition to that short list, one-upping the terms of the Wells Fargo Cash Wise card and comparable to the established Citi Double Cash Card, another $0 annual-fee card that offers unlimited 2% back. 

Here’s how the new card’s top features break down:

  • $200 cash-back bonus for new cardholders who spend $1,000 within three months of opening an account.
  • 0% APR on purchases and balance transfers for 15 months.
  • An ongoing variable APR of 14.99%-24.99%, based on cardholder creditworthiness, which is in line with the current average cash-back card APR
  • Cellphone protection insurance if you pay your phone bill with the card (up to $600 of coverage per damage or theft claim, with a maximum of two claims totaling $1,200 each year). 

The Active Cash Card is the first of two new rewards cards coming from Wells Fargo in 2021, according to Tuesday’s announcement. A low-APR card called “Reflect” will launch later this year, and a new lineup of rewards cards will follow in 2022. Wells Fargo said these changes are part of a consumer-card overhaul focused on simplicity. 


The bank also pulled down applications for its more complex Wells Fargo Propel American Express card on April 19. The Propel card offered extra cash back on a variety of purchases, including dining, gas, and travel.

The new Active Cash Card will be available for online, mail, and in-branch applications in July.

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  1. Wells Fargo. "Wells Fargo Announces Active Cash℠ Credit Card, Cash Back Card is First in New Multi-Card Suite."

  2. Wells Fargo. "Cellular Telephone Protection."

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