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

Aim_High
Senior Contributor

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


@Saeren wrote:

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."


Those are important points, @Saeren, and totally understand that viewpoint.  I even feel the same way, but also felt the need to point out the Active Cash's strengths to put it in context.   We have a lot of guests and lurkers who read our forums who may not understand those nuances, so they may be discouraged about a card that might actually be a good fit for them.  And many of our members don't have their cards in their signature or novice credit readers may not be knowledgeable about our cards.    As you said, for someone who doesn't already have a 2% or better card and wants to pursue a cash back strategy, this could be an excellent choice.   Thanks for that clarification! 



Length of Credit > 35 years; Total Credit Limits > $500K
AoOA > 28 years (Jun 1993); AoYA (Aug 2020); Gardening since 08/15/20.
* Hover cursor over cards to see name & CL, or press & hold on mobile app.
Message 41 of 56
Carmy03
Established Contributor

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

I like this, this could be a great option for me. I have 3- 2% cards(dc, Apple, and PenFed). Dc-1+1-meh, Apple-Apple pay isn't everywhere, and PenFed-2% is tied to my checking. Might app for this late 2022.

Message 42 of 56
FormerCollegeDJ
Regular Contributor

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


@Carmy03 wrote:

I like this, this could be a great option for me. I have 3- 2% cards(dc, Apple, and PenFed). Dc-1+1-meh, Apple-Apple pay isn't everywhere, and PenFed-2% is tied to my checking. Might app for this late 2022.


I think for people who want no annual fee cards with decent rewards, want to keep their credit card use simple but also are willing to do a little juggling (i.e. use a specific card at specific types of stores), the two cards announced this week, the Wells Fargo Active Cash Visa and the Citi Custom Cash Mastercard, would be a great combination.  Both cards offer very good and easily attainable SUBs as well ($200 on $1000 in spend in three months for the Active Cash, $200 on $750 in spend in three months for the Custom Cash).  Their only real weakness is both cards charge foreign transaction fees.

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 43 of 56
MrDisco99
Valued Contributor

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

I think the reason this is getting such a "meh" response is because rumors about a new WF cash card leaked early and speculation fueled a bit of advance hype.

 

I'm thinking this likely means Cash Wise is going away.  I wonder if Cash Wise customers will get autoconverted to this.  That would be awesome.  Also, will it come with cellphone insurance like Cash Wise did?

 

Message 44 of 56
FormerCollegeDJ
Regular Contributor

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


@MrDisco99 wrote:

I think the reason this is getting such a "meh" response is because rumors about a new WF cash card leaked early and speculation fueled a bit of advance hype.

 

I'm thinking this likely means Cash Wise is going away.  I wonder if Cash Wise customers will get autoconverted to this.  That would be awesome.  Also, will it come with cellphone insurance like Cash Wise did?


It does.

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 45 of 56
Cashbackjunky
Frequent Contributor

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

Anyone know (think?) If they will allow customers to PC to this card?

AmEx BCP - $34k
BofA Customized Cash Rewards - $40k
BofA Customized Cash Rewards - $26k
Capital One Quicksilver - $5k
Capital One Venture - $30k
Chase Amazon Rewards - $10.9k
Chase Freedom - $8.5k
Chase Freedom Flex - $6.1k
Chase Freedom Unlimited - $35k
Citi Custom Cash - $9.9k
Discover It - $21.3k
Discover It Chrome - $14.5k
Wells Fargo Platinum - $4.4k
————————————————————————————————————————————————————————————
816 INQs: 11
822 INQs: 4
820 INQs: 10
Total Credit Line: $245,600 Total CC's: 13
Message 46 of 56
FinStar
Moderator

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


@Cashbackjunky wrote:

Anyone know (think?) If they will allow customers to PC to this card?


It's fairly possible, but too early to tell since the product isn't "live" yet.  A thing to consider, while they typically can PC most of their cards, keep in mind it'll report as a new account and your other WF card will be closed.  So, if one wants to avoid any new accounts, the PC option may not be palatable to some.

Message 47 of 56
Cashbackjunky
Frequent Contributor

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


@FinStar wrote:

@Cashbackjunky wrote:

Anyone know (think?) If they will allow customers to PC to this card?


It's fairly possible, but too early to tell since the product isn't "live" yet.  A thing to consider, while they typically can PC most of their cards, keep in mind it'll report as a new account and your other WF card will be closed.  So, if one wants to avoid any new accounts, the PC option may not be palatable to some.


Excuse my ignorance but does that only pertain to WF? I ask because I've PC'd plenty of Chase and capital one cards without the account closing and a new one opening.

Thanks for the insight. Cheers!

AmEx BCP - $34k
BofA Customized Cash Rewards - $40k
BofA Customized Cash Rewards - $26k
Capital One Quicksilver - $5k
Capital One Venture - $30k
Chase Amazon Rewards - $10.9k
Chase Freedom - $8.5k
Chase Freedom Flex - $6.1k
Chase Freedom Unlimited - $35k
Citi Custom Cash - $9.9k
Discover It - $21.3k
Discover It Chrome - $14.5k
Wells Fargo Platinum - $4.4k
————————————————————————————————————————————————————————————
816 INQs: 11
822 INQs: 4
820 INQs: 10
Total Credit Line: $245,600 Total CC's: 13
Message 48 of 56
Saeren
Mega Contributor

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


@Cashbackjunky wrote:

@FinStar wrote:

@Cashbackjunky wrote:

Anyone know (think?) If they will allow customers to PC to this card?


It's fairly possible, but too early to tell since the product isn't "live" yet.  A thing to consider, while they typically can PC most of their cards, keep in mind it'll report as a new account and your other WF card will be closed.  So, if one wants to avoid any new accounts, the PC option may not be palatable to some.


Excuse my ignorance but does that only pertain to WF? I ask because I've PC'd plenty of Chase and capital one cards without the account closing and a new one opening.

Thanks for the insight. Cheers!


It's a WF quirk. 





Message 49 of 56
Cashbackjunky
Frequent Contributor

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


@Saeren wrote: 
It's a WF quirk. 

Lame!!! I'm glad I checked here before asking for the PC when it comes out.

Thanks for the heads up

AmEx BCP - $34k
BofA Customized Cash Rewards - $40k
BofA Customized Cash Rewards - $26k
Capital One Quicksilver - $5k
Capital One Venture - $30k
Chase Amazon Rewards - $10.9k
Chase Freedom - $8.5k
Chase Freedom Flex - $6.1k
Chase Freedom Unlimited - $35k
Citi Custom Cash - $9.9k
Discover It - $21.3k
Discover It Chrome - $14.5k
Wells Fargo Platinum - $4.4k
————————————————————————————————————————————————————————————
816 INQs: 11
822 INQs: 4
820 INQs: 10
Total Credit Line: $245,600 Total CC's: 13
Message 50 of 56
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