topic Re: Wells Fargo Cash Wise in Credit Cards

Wells Fargo Cash Wise

Anonymous — Fri, 24 Jul 2020 22:19:05 GMT

Hey guys!

I'm gardening ATM. However, I saw this pop up when I logged into my WF account. For potential future reference, I wanted to know, is this marketing? Or is it kind of like a soft pull pre-qual?

Thanks

Re: Wells Fargo Cash Wise

pinkandgrey — Sat, 25 Jul 2020 00:16:28 GMT

That's been a SUB for the CashWise in the past, so I see no reason why it wouldn't be a legit offer--especially if you're already a Wells Fargo customer.

It's hard to say whether it's a prequal or just marketing though. Did you click the "Get Details"?

Re: Wells Fargo Cash Wise

Anonymous — Sat, 25 Jul 2020 01:03:59 GMT

@pinkandgrey wrote:
That's been a SUB for the CashWise in the past, so I see no reason why it wouldn't be a legit offer--especially if you're already a Wells Fargo customer.
It's hard to say whether it's a prequal or just marketing though. Did you click the "Get Details"?

Hmm, good point. I did! I clicked on the "Get Details" and it just takes me to the application page, no set APR or anything either.

Re: Wells Fargo Cash Wise

pinkandgrey — Sat, 25 Jul 2020 01:24:12 GMT

@Anonymous wrote:
@pinkandgrey wrote:
That's been a SUB for the CashWise in the past, so I see no reason why it wouldn't be a legit offer--especially if you're already a Wells Fargo customer.
It's hard to say whether it's a prequal or just marketing though. Did you click the "Get Details"?
Hmm, good point. I did! I clicked on the "Get Details" and it just takes me to the application page, no set APR or anything either.

Hmmm. To me, it's sounding like marketing. But you ARE already in with Wells Fargo, so you'd have a better shot than someone who wasn't a current customer.

Re: Wells Fargo Cash Wise

HappyBuilder42 — Sat, 25 Jul 2020 17:58:04 GMT

This marketing worked on me. It was always showing in the mobile app and online site. Eventually, they sent two invites in the mail as well as an email. That's when I decided to apply. I got the card.

The current marketing is now for a savings account. This ad is not going to work.

Re: Wells Fargo Cash Wise

Aim_High — Sat, 25 Jul 2020 19:30:24 GMT

@Anonymous wrote:
Hey guys!

I'm gardening ATM. However, I saw this pop up when I logged into my WF account. For potential future reference, I wanted to know, is this marketing? Or is it kind of like a soft pull pre-qual?

Thanks

Hi @Anonymous. I was just approved for the Cash Wise card on a targeted offer, but it was a little different. I was emailed and clicking on the link took me to a prefilled offer with a reservation code. They approved me even with a lot of new credit accounts over the past 12 months. This looks like just a marketing "offer" that isn't preapproved. Even on my targeted offer, though, they did a hard pull of my Experian file, so I would expect a hard pull if you follow-through.

Re: Wells Fargo Cash Wise

coldfusion — Sat, 25 Jul 2020 20:50:24 GMT

The Cash Wise offers I got online were strictly offers to apply. After a couple of months I started getting mailed preapprovals.

I took that as a sign that I was in their good graces and instead successfully cold-apped for a Propel.

Re: Wells Fargo Cash Wise

scfc1972 — Sat, 25 Jul 2020 21:40:14 GMT

I had the same and applied and I was approved.

Don't really think the cashwise is worthwhile, however. I would wait until you get these offers for Propel.

Re: Wells Fargo Cash Wise

Aim_High — Sat, 25 Jul 2020 22:54:08 GMT

@scfc1972 wrote:
I had the same and applied and I was approved.
Don't really think the cashwise is worthwhile, however. I would wait until you get these offers for Propel.

By itself, Cash Wise is not an exceptional card on the whole and Propel is a great card. It's on my list.

But at 1.5% uncapped, Cash Wise is not a bad card. Just not the exceptional 2% or better return some cards offer. In that respect, it matches the Chase Freedom Unlimited, AMEX Cash Magnet, and Capital One Quicksilver among many other mainstream cards.

Even beyond the average 1.5% return, Cash Wise has a lot to offer when compared point-by-point with similar cards.

In year one, Cash Wise earns 1.8% on mobile wallet purchases.
Cash Wise has a $150 SUB on only $500 spend, which is pretty good. (That's a 31.5% return on your first $500 in spending.)
Cash Wise has 0% financing for 15 months with a 3% BT fee. (That works out to an effective APR of 2.4% for 15 months.)
Cash Wise offers cell phone protection worth up to $600 less a $25 deductible.
Cash Wise offers rental car Collision Damage Waiver coverage.
When combined with a Wells Fargo Visa Signature Card, you can make a poor-man's bifecta with $0 AF by transferring Go Far Rewards from the Cash Wise to the Visa Signature for 50% bonus in airfare redemptions. So the Cash Wise rewards rate would jump to 2.25% when redeemed on airfare through Wells Fargo, all with no AF.

Re: Wells Fargo Cash Wise

Anonymous — Sat, 25 Jul 2020 22:59:16 GMT

Thank you all for the information! I decided not to apply, like I mentioned I'm strictly in the garden right now. Thanks again

Re: Wells Fargo Cash Wise

cashorcharge — Tue, 28 Jul 2020 20:58:52 GMT

"When combined with a Wells Fargo Visa Signature Card, you can make a poor-man's bifecta with $0 AF" LOL @Aim_High

The Bifecta is the new Chase Trifecta!

I have both and agree completely on the return logic. The only thing I wish was better about the WF rewards is that they are applied in $25 increments...less bookeeping for them then other options that can apply dollars/Cash Back immediately.

Re: Wells Fargo Cash Wise

UpperNwGuy — Wed, 29 Jul 2020 11:43:24 GMT

@cashorcharge wrote:
The only thing I wish was better about the WF rewards is that they are applied in $25 increments...less bookeeping for them then other options that can apply dollars/Cash Back immediately.

Actually, the big savings to the card issuer comes not from the reduced bookkeeping but from the "breakage" that inevitably occurs when there is a high minimum redemption.

Re: Wells Fargo Cash Wise

mumbogray — Wed, 29 Jul 2020 20:06:17 GMT

@cashorcharge wrote:
"When combined with a Wells Fargo Visa Signature Card, you can make a poor-man's bifecta with $0 AF" LOL @Aim_High
The Bifecta is the new Chase Trifecta!
I have both and agree completely on the return logic. The only thing I wish was better about the WF rewards is that they are applied in $25 increments...less bookeeping for them then other options that can apply dollars/Cash Back immediately.

When I most recently redeemed points, I did the $25 increments, but there was also an option to apply points towards "statement credit". I did this for my leftover points. You redeem the points purchase by purchase in the rewards portal. I cant remember if this was for purchases before or after the statement posted.

Re: Wells Fargo Cash Wise

cashorcharge — Wed, 29 Jul 2020 21:41:22 GMT

Thanks @mumbogray I'll have to check that out!

I usually apply the $25 back to my account but leave the straggler points in there.