Wells Fargo credit cards work well for some people and poorly for others, depending on what you spend on and how you manage debt
Wells Fargo offers several credit cards with different rewards structures, annual fees, and features. The most common are the Wells Fargo Active Cash Card (flat cash back on all purchases), the Wells Fargo Autograph Card (higher rewards on travel and dining), and the Wells Fargo Propel American Express Card (bonus categories for internet, phone, and streaming). None of these cards is objectively "good" or "bad" — the fit depends on your spending habits, credit score, and whether you carry a balance.
The real question is whether a Wells Fargo card makes sense for you compared to cards from other issuers. That means looking at the actual rewards you would earn, the annual fee (if any), the interest rate you would pay, and whether Wells Fargo's customer service and app work for you.
Key Takeaways
- Wells Fargo cards offer cash back or travel rewards, but the rates are middle-of-the-road compared to competitors offering similar categories.
- Some Wells Fargo cards have no annual fee, while others charge $95 or $150 per year, which you need to earn back through rewards.
- Wells Fargo's approval standards and credit limits are generally reasonable, but the bank has faced regulatory issues that affect how it treats existing customers.
- The card that makes sense for you depends entirely on where you spend money — groceries, gas, travel, dining — and whether you will pay the full balance each month.
How Wells Fargo rewards compare to other issuers
The Wells Fargo Active Cash Card gives 2% cash back on all purchases with no annual fee. That is a solid flat-rate card, but it is not unique — Chase Freedom Unlimited, Capital One SavorOne, and Citi Double Cash all offer the same or better rates on everything you buy. If flat cash back is what you want, you should compare the sign-up bonuses and any introductory 0% APR offers, because the ongoing rewards rate is identical across these cards.
The Wells Fargo Autograph Card charges $95 per year and offers 3% cash back on travel and dining, plus 1% on everything else. That is competitive with the Chase Sapphire Preferred (3% on travel and dining, $95 annual fee) but not better. If you spend heavily on travel and restaurants, you might earn back the annual fee, but you should calculate whether you actually will. Someone who spends $500 per month on dining and travel would earn $180 per year in extra rewards (the difference between 3% and 1% on $6,000), which covers the $95 fee. Someone who spends $200 per month on those categories would earn only $72 per year, which does not cover the fee.
The Wells Fargo Propel American Express Card has no annual fee and offers 3% cash back on internet, phone, cable, and streaming services, plus 1% on everything else. This card is useful only if you have significant spending in those specific categories. Most people do not spend enough on streaming and internet to make this card worth carrying.
Annual fees and whether you will earn them back
Two of the three main Wells Fargo cards have no annual fee, which removes a barrier to opening the account. The Active Cash Card and Propel Card are free to hold, so the only cost is the interest you pay if you carry a balance.
The Autograph Card costs $95 per year. To break even, you need to earn at least $95 more in rewards than you would on a no-fee card. If you spend $3,000 per year on dining and travel (the 3% categories), you earn $90 in rewards — not enough. If you spend $5,000 per year on those categories, you earn $150, which covers the fee and leaves $55 in profit. You should add up your actual spending in the bonus categories before you open this card.
Wells Fargo does not offer a sign-up bonus on most of these cards, which is another disadvantage compared to competitors. Chase, American Express, and Capital One regularly offer $100 to $300 bonuses for new cardholders who meet a spending threshold in the first few months. Wells Fargo's lack of a bonus means you start earning rewards from day one with no head start.
Interest rates and what happens if you carry a balance
Wells Fargo credit cards carry variable interest rates that change with the prime rate. The current rate for the Active Cash Card is typically in the 19% to 27% range, depending on your credit score and creditworthiness. The Autograph Card and Propel Card have similar ranges. These rates are not unusual — most credit cards from major issuers fall in this band — but they are not low either.
If you carry a balance, the interest you pay will quickly erase any rewards you earn. A $5,000 balance at 23% interest costs you about $96 per month in interest alone. The 2% cash back on that spending would earn you $100 per year, which means the interest wipes out your rewards in just over a month. This is why credit cards only make financial sense if you pay the full balance every month.
Wells Fargo does not offer introductory 0% APR periods on purchases or balance transfers on most of its cards, which is a significant disadvantage if you need time to pay down debt. Many competitors offer 6 to 21 months of 0% APR, which can save hundreds of dollars in interest. Check the current offer before you open an account, because this can change.
Wells Fargo's customer service and account management
Wells Fargo's mobile app and online portal are functional and straightforward. You can view your balance, make payments, set up alerts, and dispute transactions through the app without calling customer service. The app is not notably better or worse than Chase or Capital One, but it works reliably for the basics.
Customer service is available by phone, chat, and mail. Wait times vary, but Wells Fargo generally answers within 10 to 20 minutes during business hours. The bank's representatives can help with disputes, fraud claims, and account questions, though some customers report frustration with hold times during peak periods.
One important consideration: Wells Fargo has faced multiple regulatory actions and settlements over the past decade for unauthorized accounts, sales practices, and other issues. While these problems affected deposit accounts more than credit cards, they have affected how the bank treats customers. Some people prefer to avoid Wells Fargo entirely for this reason. That is a legitimate choice, and you should factor it into your decision.
Who should open a Wells Fargo card and who should look elsewhere
A Wells Fargo card makes sense if you want a no-fee card with straightforward cash back and you already bank with Wells Fargo (so you can manage everything in one place). The Active Cash Card is a reasonable choice in that scenario, though you should compare it to Chase Freedom Unlimited and Capital One SavorOne first.
A Wells Fargo card does not make sense if you are looking for a sign-up bonus, an introductory 0% APR period, or category-specific rewards that match your exact spending. In those cases, you will find better options from Chase, American Express, Capital One, or Citi. You should also avoid Wells Fargo if you have concerns about the bank's past practices or if you prefer to bank elsewhere.
If you are rebuilding credit or have a lower credit score, Wells Fargo's approval standards are reasonable, and the bank may approve you when other issuers decline. That is a genuine advantage if you have limited options. In that case, the Active Cash Card is worth considering as a stepping stone to better cards later.
How to compare Wells Fargo cards to your actual spending
Before you open any credit card, write down your average monthly spending in each category: groceries, gas, dining, travel, subscriptions, utilities, and everything else. Multiply each category by 12 to get your annual total. Then multiply that by the rewards rate for each card you are considering.
For example, if you spend $200 per month on dining ($2,400 per year), the Wells Fargo Autograph Card earns you $72 per year in rewards (3% of $2,400). Subtract the $95 annual fee, and you are actually losing $23 per year. A no-fee card earning 2% on everything would earn you $48 per year with no fee, which is better than losing money on the Autograph Card.
Do this calculation for every card you are considering, using your actual spending numbers. The card that wins on paper is the one you should open. This takes 15 minutes and will save you money over the life of the card.
Frequently Asked Questions
Is the Wells Fargo Active Cash Card better than the Chase Freedom Unlimited?
Both cards offer 2% cash back on all purchases with no annual fee, so the rewards rate is identical. The difference is in sign-up bonuses (Chase often offers one, Wells Fargo usually does not) and whether you already bank with one of these companies. If you have no preference, Chase is the better choice because of the bonus. If you already use Wells Fargo for checking, the Active Cash Card is convenient.
Can I get approved for a Wells Fargo card with fair credit?
Wells Fargo approves applicants with credit scores in the 600 to 650 range, though approval is not may provide. Your income, employment history, and existing debt also matter. If you are approved, you may receive a lower credit limit than someone with excellent credit. You can always request a higher limit after six months of on-time payments.
Does Wells Fargo offer a sign-up bonus?
Most Wells Fargo credit cards do not include a sign-up bonus. Occasionally the bank runs limited-time offers, but these are rare and usually modest ($50 to $100). If a sign-up bonus is important to you, Chase, American Express, and Capital One offer larger bonuses more consistently.
What happens if I carry a balance on a Wells Fargo card?
You will pay interest at the card's variable rate (typically 19% to 27%) on the balance you carry. The interest charges will exceed any cash back rewards you earn, so carrying a balance is expensive. If you need time to pay off debt, look for a card with an introductory 0% APR offer instead.
Should I close my Wells Fargo card after I open a new one?
Closing a card lowers your available credit and can hurt your credit score. Keep the Wells Fargo card open even if you stop using it, as long as there is no annual fee. If the card has an annual fee and you are not using it, you can close it without major damage to your score.