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Wells Fargo to launch "Active Cash Card" on July 1st

Remedios
Moderator

Re: Wells Fargo to launch "Active Cash Card" on July 1st

@Beast26  that's not very FSR, and referencing past behavior isn't really bashing. 

 

No one is telling you not to apply (other than you stating in your other thread you have no use for general spend card, but opinions change, right? Perhaps others will change their opinion on this card, just like you did). 

 

It's a healthy discussion, nothing more nothing less. 

Message 31 of 56
Saeren
Mega Contributor

Re: Wells Fargo to launch "Active Cash Card" on July 1st

I can't really help that I don't get excited for 2% cards when I have a 3% card that doesn't even get much spend because the majority of my spend gets me more on other cards. I don't generally go after cards just to get the SUB and SD them, I look at long term value and where they fit in my lineup. Truth be told it's not a bad 2% card but unless a lot of cards I currently have disappear, it's not much value for me. For people who don't currently have at least a 2% spend card, it's a no-brainer, but the majority of us here already have 2% or higher cards we are happy with and would just want the SUB and intro APRs before going back to our chosen cards. Seeing how many of us have US Bank and/or Chase gardening goals, I definitely wouldn't recommend putting those plans on the back burner for this card. It's not a terrible card, it's just not particularly exciting, hence "meh."





Message 32 of 56
northface28
Established Contributor

Re: Wells Fargo to launch "Active Cash Card" on July 1st

With so many 2% offerings now. I have to wonder how much longer cards like the cash magnet, quicksilver and cash wise stick around. At least the CFU has 3% dining.

BK Discharged 9/11

Cap1 Quiksilver Visa Signature $41k| Discover IT $24k| Barclays Uber VISA $16.2k|BOA Cash Rewards $8.4k| BOA BBR $6k|AMEX Cash Magnet $12.8k|AMEX BCP $16.6k|Huntington Voice $5.5k|Citi Double Cash $5.7k| US Bank Cash+ $6.5k
Message 33 of 56
Beetlejuice125
Established Member

Re: Wells Fargo to launch "Active Cash Card" on July 1st

WF denied me for Propel card with an 835 score. No way I'm apping for this card 

Say it three times
You know you want to
Message 34 of 56
CBartowski
Frequent Contributor

Re: Wells Fargo to launch "Active Cash Card" on July 1st

Sooo forgive me I havent gone through all 4 pages of posts so appologies if someone already brought this up.

 

BUT going through the full press release....this is just the beginning for WF:

 

"In July, Wells Fargo will roll out the first card in its new Visa cards suite — the Active CashSM Card, one of the industry’s best cash back cards ever, with no annual fee and unlimited 2% cash rewards on purchases — followed later this year by a low-APR card, ReflectSM, and a new rewards card line in 2022."

 

This would indicate a 2% could just be the start as they could have as many as 4 new cards coming in the next year.

 

https://www.businesswire.com/news/home/20210608005295/en/

 

Hat tip CreditShifu youtube channel for pointing this out. 

 

CARDS:
AMEX CS Plat | NSL -- Chase Freedom Flex | $19,000
AMEX Gold | NSL -- Citi Double Cash | $10,000
AMEX HH NAF | $1,000 -- Uber Visa | $5,000
CSR | $29,000 -- USAA Plat | $8,000
USAA AMEX | $23,000 -- MB Boundless | $11,900

BANKS:
NFCU | USAA | PenFed | Schwab Bank | First Bank | Chase
Message 35 of 56
buildingcredit19
Established Member

Wells Fargo Goes on the Offensive With New No-Fee, 2% Cash-Back Credit-Card

Message 36 of 56
kkboom
Frequent Contributor

Re: Wells Fargo Goes on the Offensive With New No-Fee, 2% Cash-Back Credit-Card

thanks for sharing. I never think of Wells Fargo for credit cards. I wonder what else they'll come up with besides the 2% cash back.


Gardening until 10/2021
Message 37 of 56
FormerCollegeDJ
Regular Contributor

Re: Wells Fargo to launch "Active Cash Card" on July 1st


@CBartowski wrote:

Sooo forgive me I havent gone through all 4 pages of posts so appologies if someone already brought this up.

 

BUT going through the full press release....this is just the beginning for WF:

 

"In July, Wells Fargo will roll out the first card in its new Visa cards suite — the Active CashSM Card, one of the industry’s best cash back cards ever, with no annual fee and unlimited 2% cash rewards on purchases — followed later this year by a low-APR card, ReflectSM, and a new rewards card line in 2022."

 

This would indicate a 2% could just be the start as they could have as many as 4 new cards coming in the next year.

 

https://www.businesswire.com/news/home/20210608005295/en/

 

Hat tip CreditShifu youtube channel for pointing this out. 

 


I noted this earlier in the thread AND already pointed out there probably will be more than four cards.  Based on the press release and Bloomberg News article linked on page 1 (not the first post but about the 7th or 8th post), Wells Fargo will have the Active Cash card, a low APR card (Reflect), a line of rewards cards (which you noted; I would expect this to be at least 2-3 cards, possibly more), and additional co-branded retail cards to join the WF Hotels.com card.

 

The one thing no one (either me or anyone else) has mentioned yet from the press release is one of the Wells Fargo executives stated they want their cards to have simple rewards structures.  To me, that means that rewards card line they plan to introduce next year could have various high (3% or higher) rewards cards focused on different spending categories - travel, dining, groceries, or other categories.  The cards may not combine categories, but they could have high rewards in a specific category, say like 4% or 5% on travel with no annual fee.

Playing the credit card rewards game since early May 2020.

Current credit cards:
*Discover Cash It, 10/5/94, $10,000 CL
*American Express Hilton Honors, 9/23/96, $16,500 CL
*Kohl's store card, 7/31/00, $2500 CL
*Chase Amazon Rewards Visa, 10/29/06, $7000 CL
*Citi Sears/Thank You Rewards Mastercard, 9/19/09, $2001 CL (LOL)
*Citi My Best Buy Visa, 12/29/11, $4600 CL
*Bank of America Amtrak Guest Rewards Platinum Mastercard, 10/17/15, $15,000 CL
*Bank of America AAA Member Rewards Visa, 3/9/17, $15,000 CL
*Chase Freedom Unlimited Visa, 6/29/20, $11,000 CL
*Chase Freedom Flex Mastercard, 11/9/20, $9900 CL
*Capital One SavorOne Mastercard, 3/30/21, $10,000 CL
*Wells Fargo Propel American Express, 4/11/21, $10,000 CL

Next target credit cards:
*US Bank Cash+ Visa
*Wells Fargo Active Cash Visa, PSECU Founder's Card Visa, or Chase Sapphire Preferred Visa
*Citi Custom Cash Mastercard
*Elan Financial Services Max Cash Preferred (S&T Bank Visa version)
Message 38 of 56
firefox100
Established Contributor

Re: Wells Fargo to launch "Active Cash Card" on July 1st

account to get 50% bost. I have been a Wells Fargo  customer since Dec 2018 with the Propel credit card which started with credit limit of 7K which has grown 23K limit. I had no problems with Wells Fargo. I am not going for this card at this time because in April of this year applied and open the BOA cash rewards credit card which has 0% for 15 months and need to spend 1K whith in 3 months to get the 200 bonus. Will be buying the new computer system in couple of weeks. I may get the Active cash card next summer.

Message 39 of 56
NoMoreE46
Established Contributor

Re: Wells Fargo to launch "Active Cash Card" on July 1st

I may go for this!
I have been happy with my Propel (though the WF app needs a lot of improvement.)

I spend $4000 annually on child care and this would be the card for $80  back…

Message 40 of 56
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