topic Re: Wells Fargo "Switch my Card" comparison in Credit Cards

Wells Fargo "Switch my Card" comparison

Aim_High — Sun, 11 Feb 2024 02:51:47 GMT

I have a Wells Fargo Cash Wise (1.5% everything card) I got a few years ago. It was mainly for the SUB (as it was a preapproval), to get a foothold with WF as a major national bank, and to eventually combine limits with other WF cards. It hasn't had a lot of use and was subsequently surpassed by their Active Cash (2% everything card.) Since WF changed their lineup, I've had offers to product change to either the Active Cash or Autograph, bypassing any SUB eligibility while keeping the same credit limit, card number, APR, and no AF. I'm pretty sure I will change it to the Active Cash soon, even though I have multiple other 2%+ option cards. Later, I may apply for Autograph (or another offering, since they may make further changes in their lineup), then combine limits.

Anyway, back to topic. When I look at "Switch My Card," I was surprised at the perks that Cash Wise carries that were not included with either Active Cash or Autograph. It became apparent that how they were able to enhance the rewards on those newer cards was by nerfing some of the perks on their older cards. Honestly, I wasn't even aware of all the perks my Cash Wise card offered until I read this listing since the card wasn't a priority in my wallet.

All three cards (Cash Wise, Active Cash, Autograph) do include the following:

Cellular Telephone Protection
Emergency Cash Disbursement and Card Replacement
Auto Rental Collision Damage Waiver
Visa Concierge Service
Roadside Dispatch
Travel and Emergency Assistance Services
Visa Signature Luxury Hotel Collection

However, Cash Wise also offers some perks that aren't included on either Active Cash or Autograph:

Travel Accident Insurance
Extended Warranty Protection
Price Protection
Purchase Security
Lost Luggage Reimbursement
Trip Cancellation and Interruption

I was quite impressed as most of these perks are only available on AF travel cards. I do have duplicate coverage (and probably much better if I read the fine print) on cards like my Chase Sapphire Reserve, AMEX Marriott Bonvoy Brilliant, Bank of America Premium Rewards Elite, and NFCU Flagship Rewards. Still, it gives me pause to give up a card that has no-AF premium perks. Thoughts?

Re: Wells Fargo "Switch my Card" comparison

DatBoiQuick — Mon, 12 Feb 2024 23:24:18 GMT

Honestly I'd rather have the Cash Wise for the extended warrenty if you dont have it already.

Re: Wells Fargo "Switch my Card" comparison

SPChaser — Tue, 13 Feb 2024 05:39:31 GMT

@Aim_High years ago, I was at the exact same crossroads debating if I should go with the Active or remain with the Wise. I was also surprised to notice the perks the Wise offered for a no AF card. By then, I was fully into the credit points game and what tipped the scale for me was the very fact that I had the Chase Sapphire Reservce card. My thought process was that if I'm going to be paying for a card with such a high AF, then I better be putting it to use. So yes, the benefits the card offers are ridiculously great but if i'm going to have a travel card, then the travel card if what I'll be using, it having so much better travel protections.

Re: Wells Fargo "Switch my Card" comparison

Openwater — Tue, 13 Feb 2024 06:09:38 GMT

It is indeed something that you really don't find on cards that have no AF. But I agree you have other cards that have some same protections, regardless of the fact, I would keep the Wise. I value more protection on things I purchase over .5% overall. Its pretty interesting that those benefits were applied to a no AF card. Sadly, they stopped.

Re: Wells Fargo "Switch my Card" comparison

Aim_High — Tue, 13 Feb 2024 20:23:43 GMT

@DatBoiQuick wrote:
Honestly I'd rather have the Cash Wise for the extended warrenty if you dont have it already.

And there is the rub, @DatBoiQuick. I do, and on multiple cards, as well as the other Cash Wise benefits that aren't included on Active Cash/Autograph. (Chase Sapphire Reserve, AMEX Marriott Bonvoy Brilliant, Bank of America Premium Rewards Elite, and NFCU Flagship Rewards all have some or all of these benefits.) So in my case, I'd be keeping it "just in case" I got rid of all those other premium cards. And there's always the chance those could be nerfed from Cash Wise anyway or Wells Fargo may reach a point where they force convert older Cash Wise accounts to Active Cash.

I had just planned to combine the cash wise limit with other WF limits to make a large single card with them.

Re: Wells Fargo "Switch my Card" comparison

Aim_High — Tue, 13 Feb 2024 20:27:29 GMT

@SPChaser wrote:
@Aim_High years ago, I was at the exact same crossroads debating if I should go with the Active or remain with the Wise. I was also surprised to notice the perks the Wise offered for a no AF card. By then, I was fully into the credit points game and what tipped the scale for me was the very fact that I had the Chase Sapphire Reservce card. My thought process was that if I'm going to be paying for a card with such a high AF, then I better be putting it to use. So yes, the benefits the card offers are ridiculously great but if i'm going to have a travel card, then the travel card if what I'll be using, it having so much better travel protections.

That's the way I see it also, @SPChaser. As mentioned, I have multiple cards with those benefits including CSR and AMEX Marriott Bonvoy Brilliant, so this would just be a "backup" if I kept it intact. I have had offers to switch it since shortly after Active Cash and Autograph came out but there has been no rush to do anything. I was thinking about putting some heavier spend on it and seeing if I could get it to grow with soft pulls. (So far, customer service has always referred me to underwriting when I inquired and told me it would be a HP.) So the extra cash back would be handy with the added spend.

Re: Wells Fargo "Switch my Card" comparison

SPChaser — Tue, 13 Feb 2024 20:45:58 GMT

@Aim_High wrote:
@SPChaser wrote:
@Aim_High years ago, I was at the exact same crossroads debating if I should go with the Active or remain with the Wise. I was also surprised to notice the perks the Wise offered for a no AF card. By then, I was fully into the credit points game and what tipped the scale for me was the very fact that I had the Chase Sapphire Reservce card. My thought process was that if I'm going to be paying for a card with such a high AF, then I better be putting it to use. So yes, the benefits the card offers are ridiculously great but if i'm going to have a travel card, then the travel card if what I'll be using, it having so much better travel protections.
That's the way I see it also, @SPChaser. As mentioned, I have multiple cards with those benefits including CSR and AMEX Marriott Bonvoy Brilliant, so this would just be a "backup" if I kept it intact. I have had offers to switch it since shortly after Active Cash and Autograph came out but there has been no rush to do anything. I was thinking about putting some heavier spend on it and seeing if I could get it to grow with soft pulls. (So far, customer service has always referred me to underwriting when I inquired and told me it would be a HP.) So the extra cash back would be handy with the added spend.

🤣 same here. WF, even with heavy use and PIF most of the time, are wanting a HP for CLIs.

Re: Wells Fargo "Switch my Card" comparison

Aim_High — Mon, 20 Jan 2025 02:27:18 GMT

*** Update to my original posting. ***

I had other credit priorities but after sitting on this product change for a couple of years, I proceeded to switch my Wells Fargo Cash Wise to the Wells Fargo Active Cash. (12/31/24.) I did think twice about losing some of the special perks on this card (mentioned in the original posting) but I have other cards that duplicate those perks. The 2% versus 1.5% is also relatively insignificant since I have uncategorized cards that earn more. Still, the 2% is more useful to me overall. I plan to put some spend on the new card to keep it alive and also to see if WF would give a higher CL. In a few months, I may also apply for a new WF card which would allow me to combine limits. WF is one of the largest lenders where I have the least footprint.

Re: Wells Fargo "Switch my Card" comparison

NAVYCHOP — Sat, 25 Jan 2025 23:47:43 GMT

Another interesting point with a Wells Fargo product change: I had a low interest Visa Platinum card that no longer exists with Wells. I did a product change about three years ago and noticed that the low interest rate carried over to the Active Cash Card with the product change. Today in Jan 2025 my active cash interest rate for purchases is 12.49 percent, although I do not carry a balance. That may be an incentive for someone holding on to an old grandfathered card to update the account, but I'm not sure if the interest rate really would still carry over... it seemed to me to be too good to be true at the time I did my product change.

Re: Wells Fargo "Switch my Card" comparison

BearsCubsOtters — Sun, 26 Jan 2025 16:08:41 GMT

@Aim_High wrote:
*** Update to my original posting. ***

I had other credit priorities but after sitting on this product change for a couple of years, I proceeded to switch my Wells Fargo Cash Wise to the Wells Fargo Active Cash. (12/31/24.) I did think twice about losing some of the special perks on this card (mentioned in the original posting) but I have other cards that duplicate those perks. The 2% versus 1.5% is also relatively insignificant since I have uncategorized cards that earn more. Still, the 2% is more useful to me overall. I plan to put some spend on the new card to keep it alive and also to see if WF would give a higher CL. In a few months, I may also apply for a new WF card which would allow me to combine limits. WF is one of the largest lenders where I have the least footprint.

You have no idea how much I have been waiting for this LOL! That yellow Cash Wise card in your signature bothered me. I even asked you about it a while back and you indicated you were waiting to PC it....I kept wondering what card you were waiting for as all had been refreshed. Congrats on the PC!

Re: Wells Fargo "Switch my Card" comparison

Aim_High — Sun, 26 Jan 2025 20:33:49 GMT

@BearsCubsOtters wrote:
@Aim_High wrote:
*** Update to my original posting. ***

I had other credit priorities but after sitting on this product change for a couple of years, I proceeded to switch my Wells Fargo Cash Wise to the Wells Fargo Active Cash. (12/31/24.) I did think twice about losing some of the special perks on this card (mentioned in the original posting) but I have other cards that duplicate those perks. The 2% versus 1.5% is also relatively insignificant since I have uncategorized cards that earn more. Still, the 2% is more useful to me overall. I plan to put some spend on the new card to keep it alive and also to see if WF would give a higher CL. In a few months, I may also apply for a new WF card which would allow me to combine limits. WF is one of the largest lenders where I have the least footprint.
You have no idea how much I have been waiting for this LOL! That yellow Cash Wise card in your signature bothered me. I even asked you about it a while back and you indicated you were waiting to PC it....I kept wondering what card you were waiting for as all had been refreshed. Congrats on the PC!

LOL

Agreed that it did stand out and seemed out-of-place, @BearsCubsOtters.

The relatively low $10.5K limit - respective to my other cards - stood out also. I've had some funds deposited with WF since earning a banking bonus last spring and wanted to see if that plus increasing the spend on this card might open up some soft pull CLIs. For some reason, they've always asked to do a HP when I inquired. I got the Cash Wise in July 2020 after about an 18-month run where I got six new cards. That velocity probably inhibited the $10.5K SL and it never grew.

The 1.5% rewards was lackluster for sure. When I came to My FICO in 2019, one goal was to raise my baseline cash back higher than 1.5%. These 2%+ cards were relatively new and unheard-of for the general population. When I came here, I had the Capital One Quicksilver (which has since been PC'd to the Savor) and the Chase Freedom Unlimited, which at the time only earned a flat 1.5%. I had no other higher-earning uncapped and uncategorized cards. Now, I've got a handful of higher-earning options and they are spread among several different lenders as well. I app'd for this Cash Wise since WF suggested it to me on a pre-approval targeted offer, and it was a foot-in-the-door for a new credit product with them. (I previously used them for store cards with Dillards and Bassett furniture but those had both been closed.)

Re: Wells Fargo "Switch my Card" comparison

NoMoreE46 — Sun, 02 Feb 2025 00:20:21 GMT

You need to SD Close every card that is under $25,000.

@Aim_High wrote:
@BearsCubsOtters wrote:
@Aim_High wrote:
*** Update to my original posting. ***

I had other credit priorities but after sitting on this product change for a couple of years, I proceeded to switch my Wells Fargo Cash Wise to the Wells Fargo Active Cash. (12/31/24.) I did think twice about losing some of the special perks on this card (mentioned in the original posting) but I have other cards that duplicate those perks. The 2% versus 1.5% is also relatively insignificant since I have uncategorized cards that earn more. Still, the 2% is more useful to me overall. I plan to put some spend on the new card to keep it alive and also to see if WF would give a higher CL. In a few months, I may also apply for a new WF card which would allow me to combine limits. WF is one of the largest lenders where I have the least footprint.
You have no idea how much I have been waiting for this LOL! That yellow Cash Wise card in your signature bothered me. I even asked you about it a while back and you indicated you were waiting to PC it....I kept wondering what card you were waiting for as all had been refreshed. Congrats on the PC!
LOL

Agreed that it did stand out and seemed out-of-place, @BearsCubsOtters.

The relatively low $10.5K limit - respective to my other cards - stood out also. I've had some funds deposited with WF since earning a banking bonus last spring and wanted to see if that plus increasing the spend on this card might open up some soft pull CLIs. For some reason, they've always asked to do a HP when I inquired. I got the Cash Wise in July 2020 after about an 18-month run where I got six new cards. That velocity probably inhibited the $10.5K SL and it never grew.

The 1.5% rewards was lackluster for sure. When I came to My FICO in 2019, one goal was to raise my baseline cash back higher than 1.5%. These 2%+ cards were relatively new and unheard-of for the general population. When I came here, I had the Capital One Quicksilver (which has since been PC'd to the Savor) and the Chase Freedom Unlimited, which at the time only earned a flat 1.5%. I had no other higher-earning uncapped and uncategorized cards. Now, I've got a handful of higher-earning options and they are spread among several different lenders as well. I app'd for this Cash Wise since WF suggested it to me on a pre-approval targeted offer, and it was a foot-in-the-door for a new credit product with them. (I previously used them for store cards with Dillards and Bassett furniture but those had both been closed.)

Re: Wells Fargo "Switch my Card" comparison

SPChaser — Sun, 02 Feb 2025 17:26:45 GMT

@Aim_High Agreed. Years back when I was confronted with the same choice, I too was really surprised at what the Cash Wise offered and did hesitate a bit. In the end, I decided to make the switch because of all what the Cash Wise offered, the cards which had similar or same options, I would be using more than the Cash Wise in the long run, especially for travel.

Re: Wells Fargo "Switch my Card" comparison

Aim_High — Wed, 05 Feb 2025 21:41:45 GMT

@NoMoreE46 wrote:
You need to SD Close every card that is under $25,000.

@Aim_High wrote:
The relatively low $10.5K limit - respective to my other cards - stood out also ... I got the Cash Wise in July 2020 after about an 18-month run where I got six new cards. That velocity probably inhibited the $10.5K SL and it never grew.

For the most part, agreed @NoMoreE46, although I will make a couple of exceptions. And I have had plans to increase the minimums on some of my lower cards. It's just a matter of priorities and it takes time to get around to them. A few years ago, I had goals to get my cards to $25K or higher. Now, I'm trying to get more of them to $50K or higher with very few less than $25K.

Current Personal Limits less than $25K:

AMEX Hilton Surpass: $10K.

Opened March 2023 with $25K reallocated from my $75K Marriott Bonvoy Brilliant (no additional credit issued.) I moved the limits back to $65K on Marriott and leave $10K on Surpass as a marginally-high limit baseline. My long-term plan is likely to close the Surpass and put the limits back on Marriott. Since I opened it, AMEX raised the AF and added the quarterly $50 credits. That puts added pressue on staying often at Hilton properties which complicates my hotel strategy. I was hoping that AMEX might approve added credit with the new card, but they did not.

Wells Fargo Active Cash: $10.5K

Back story above. Since opening it, have deposit accounts with WF. Combined with some spending on this card and a possible new account, hope to grow this credit limit (with consolidation to another card) well over $25K.

Chase IHG Rewards Premier: $12K.

Opened in March 2023. Similar to above approval with my AMEX Hilton Surpass, Chase approved with SL of $50K but no additional credit lines by reallocating from my CSR/CFU cards. I moved credit around to keep $10K as a marginally-high limit baseline. Afterward, Chase approved a $2K CLI. Long term plan, like with Hilton, is most likely to close the IHG and put limits back on another card. The likely recipient would be my CFU which would grow from $29.4K to $41.4K. Like my experience on the AMEX Hilton Surpass, I was hoping Chase might approve additional TCL on the IHG card, but they did not.

BofA Customized Cash Rewards: $14.9K.

This card is one of my older cards dating to 2000. It had grown as high as $70K before I began adding the Premium Rewards and PR Elite cards and before I reached the $99.9K BofA lending cap. I purposefully kept $85K on BofA PRE and left a respectable $14.9K on CCR. The $14.9K is more than enough for my spend at the highest capped rewards of $2500 per quarter. Long term, this will probably be my lowest-limit personal card (and only personal card under $25K) since I don't anticipate BofA extending me more than $99.9K credit and I value a high limit on my PRE. However, if I add a second CCR card for added rewards, I may lower this one and have an $80K PRE; $10K CCR; $10K CCR split or some other variation.

Current Business Limits less than $25K:

*My Business limits are much lower than my personal limits since they are based on a relatively low revenue from a small sole proprietorship side-gig. I don't anticipate heavy spending on these accounts or have the documentation needed to get high limits.

AMEX Business Platinum:

NPSL. Opened October 2024 for a lucrative 250K MR SUB. Plan to close after 12 months unless I find it more suitable than I expected.

AMEX Marriott Bonvoy Business. $10K

This card was opened for (1) the ability to stack 15 annual elite night credits onto my Bonvoy Brilliant's 25 (40 total), (2) the 35K point free annual night stay that offsets the AF; and (3) the addition of "business" rates to my Marriott rate options which can sometimes be better than other rates. I expect to keep this card for those reasons.

AMEX Blue Business Plus. $10K

This card was opened to retain my MR points when I planned to close my AMEX Gold card. Since it's no-AF and earns 2x MR per dollar on up to $50K annual spend, it also has allowed me continued access to the MR portal for research and the option to earn additional MRs without an AF. It allowed me to open that Business Platinum card without hesitation knowing that I could close it in 12 months without sacrificing or having to immediate use the MRs from the SUB.

While I see value for the mid-term on both of the AMEX cards above, I continue to evaluate whether I may want to shut one or both down eventually and/or reallocate limits.

Chase INK Business Cash: $9K.

Opened as INK Business Preferred for the SUB. Downgraded to the CASH as a no-AF that earns high URs (5x) in office supply stores as well as on my monthly cable - internet bills and cellphone bills. URs are transferred to CSR. Chase has denied CLIs.

Chase INK Business Unlimited: $6K.

Opened for the SUB and with plans to eventually move the limit to the Business Cash. That will leave me with $15K limit on Chase INK Business Cash.