The no-annual-fee Wells Fargo Energetic Money® Card (see charges and charges) affords a strong 2% cash-back on purchases and an interesting welcome provide. And with no annual payment and a handful of different perks, it may very well be a very good choice for many who need a rewarding but easy card of their wallets. Card Score*: ⭐⭐⭐½

*Card Score is predicated on the opinion of TPG’s editors and isn’t influenced by the cardboard issuer.

Bank card rewards can typically be sophisticated with limited-time affords, switch companions and excessive annual charges. The Wells Fargo Energetic Money card takes a easy method by providing limitless 2% money rewards on purchases. It would not carry an annual payment or have any bonus classes to recollect.

It is also a Visa Signature® card, which has many perks and advantages typically seen on extra premium playing cards. You will need a credit score rating of 670 or greater for one of the best probability at approval.

Here is every part it is advisable know concerning the Wells Fargo Energetic Money card.

The Wells Fargo Energetic Money card is at present providing a $200 money rewards bonus whenever you spend $500 in purchases within the first three months of account opening.

This does not maintain a candle to the worth you may get with one of many prime journey rewards playing cards available on the market, however it’s fairly normal for a cash-back card with no annual payment.

Among the extra notable perks on the Energetic Money embrace cellphone safety and nil legal responsibility safety. If you pay your month-to-month cellphone invoice with the Energetic Money card, Wells Fargo will cowl as much as $600, topic to a $25 deductible (as much as twice per 12 months) for harm or theft.

In the meantime, with zero legal responsibility safety, if an unauthorized buy is made in your bank card, the exercise might be promptly reported, and you’ll not be held accountable.

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The Wells Fargo Energetic Money can be a Visa Signature® card and comes geared up with advantages equivalent to 24/7 concierge service and entry to Visa’s Luxurious Resort Assortment.

These are some strong advantages for a card with no annual payment.

The Wells Fargo Energetic Money card is a good way to earn a normal charge of return on purchases. With it, you may earn 2% within the type of money rewards on purchases — together with journey, rideshare providers, eating and extra. Money rewards is not going to expire so long as the account stays open.

There are not any bonus classes, so all qualifying purchases will earn the identical cash-back rewards. Nonetheless, cardholders don’t earn money rewards on stability transfers, money equivalents (like present playing cards and cash orders), lottery tickets or on line casino chips.

The money rewards you earn with the Energetic Money card may be redeemed as assertion credit to cowl purchases beginning at $1. Nonetheless, you need to have sufficient rewards in your account to cowl your complete transaction. In different phrases, the $200 in rewards you earn as a part of the welcome provide cannot be used for an announcement credit score on a $300 buy.

Money rewards can be redeemed for a deposit to your Wells Fargo checking account or as a cost towards the principal on a Wells Fargo mortgage. Different redemption choices embrace money from a Wells Fargo ATM in $20 increments (solely accessible with a Wells Fargo debit card) and present playing cards in $25 increments.

Whereas this card would not provide as many redemption choices as a few of our favourite journey rewards playing cards, the simplicity has its personal enchantment. TPG bank cards author Emily Thompson loves the flexibility of cash-back rewards to cowl something from journey bills to an surprising house restore.

The money rewards bank card world is crammed with no-annual-fee playing cards, however only some can evaluate to the Energetic Money.

For extra choices, take a look at our full record of one of the best cash-back bank cards.

Associated: Flat-rate vs. bonus-category cash-back bank cards

The shortage of an annual payment makes the Wells Fargo Energetic Money card interesting to all kinds of bank card customers, however it’s a very good choice for newbies. Nonetheless, the cardboard does have a 3% overseas forex conversion payment, so cardholders who recurrently journey or spend internationally ought to rethink and go for a card with out overseas transaction charges.

The Wells Fargo Energetic Money card is a superb cash-back rewards card for individuals on the lookout for a easy rewards construction. Some extra skilled bank card customers might really feel it’s lacking the power to maximise incomes potential. Nonetheless, in the event you’re available in the market for a no-frills money rewards card with no annual payment, the Wells Fargo Energetic Money card may very well be the proper addition to your pockets.

Apply right here: Wells Fargo Energetic Money Card