Wells Fargo Cash Wise Visa Card Reviews - What Is It?
DO NOT USE Wells Fargo Cash Wise Visa Card!!! You Must Read This Review!
Fully Researched: Price, User Feedback and More!
The Wells Fargo Cash Wise Visa Card is a solid credit card designed for people with varied spending who want to earn good rewards in the future. The card offers 1.5% cash back on all purchases, which means that it offers good value for consumers interested in rewards for the long-term. If you wish to score a big signup bonus, you can get a solid one with this card - $200 - but you will need to spend at least $1,000 in net purchases during the first three months. This is a good credit card for those who spender a lot of money regularly. Other cards can give you higher returns in some other categories like travel and dining (the Chase Sapphire Preferred Card). But the card we are discussing in this review will be more suitable for those who spend heavily at various types of stores. It is advised to individuals who spend more than $50,000 on their credit card per year. The card comes with a 1.8% rewards rate on Android Pay and Apple Pay purchases for the first twelve months.
One good feature on the Wells Fargo Cash Wise Visa Card is the cell phone insurance it offers; however, this perk is not unique to this card - the same benefit can be found with most Wells Fargo credit cards. If you pay your cell phone bill with this card, in case your phone is stolen or damaged it will be covered for up to $600. If you use your card to replace an insurance plan with your cell phone company, you can save about $100 a year. The card is said to have a simple reward structure (1.5% cash back on purchases), but this does not apply to other types of transactions, such as balance transfers and cash advances. Is this really a solid card with its average 1.5% cash back rate and a signup bonus? Should you get one if you are not a high spender or should you opt for another fixed-rate credit card? We are going to answer these questions further in this review by looking at some other features of the Wells Fargo Cash Wise Visa Card, as well as at what actual cardholders are saying about it.
Customer Reviews - Does Wells Fargo Cash Wise Visa Card Really Work?
Before we more to the real cardholders' reviews online, let us discuss some other characteristic features of the Wells Fargo Cash Wise Visa Card. Its Foreign Transaction Fee is 3%. As it was already mentioned, you can earn a $200 cash rewards bonus if you spend $1,000 in the first three months. There are unlimited 1.5% cash rewards on net purchases and 1.8% cash rewards on mobile wallet purchases, like Android Pay and Apple Pay within twelve months from opening the account. Cash rewards or sign ups don't expire as long as your account is open. You can get up to $600 protection on your cell phone against theft or covered damage when you pay your cellular telephone bill on a monthly basis with your card. There is 0% Intro APR for twelve months on balance transfers and purchases, then a 14.74%-26.74% variable APR. You can apply for the card on its official website. This will also allow you to learn more about the product terms, features, and conditions.
A nice perk about the Wells Fargo Cash Wise Visa Card is its Phone Insurance. Paying your phone bill with this card allows you to get up to $600 in coverage against theft or damage. Remember that the policy is subject to a $25 deductible and a maximum of two claims per year. This is a good credit card benefit, since it can save cardholders a lot of money. A typical insurance policy bought from a provider would cost you about $8 per month but using the Wells Fargo Cash Wise Visa Card will allow you to save roughly $96 per year. But the coverage comes with a number of some exclusions. If your phone is damaged or you lose it while under the care of a common carrier (Postal Service), don't expect to get any compensation. There is a long list of details and exclusions about the policy on the official website of the card.
There is a great number of testimonials from real cardholders on third-party websites. They carry a mixed character, so we have encountered both positive and negative opinions. Creditkarma.com gave the card an average rating of 2.9, which is too low. Many customers reports that they have been screwed by Wells Fargo. They do not seem to honor the rebate points. One cardholder highly recommends keeping track of the date you were approved for the Wells Fargo Cash Wise Visa Card. That guy describes his story online saying that he didn't remember the date that he opened his account. He called the customer service and was said that they had no idea of the date too. Then the man called the bank branch and was told to go to the bank personally in order to get that information. As a result, that guy missed his $200 sign on bonus. He says that he only uses this card because it has free cell phone insurance; otherwise, he would definitely not recommend this card to anyone. There is a widely spread opinion online that Fargo is a shady company which is paying out numerous fines for its questionable business practices. Let us take a look at the actual customer reviews.
"I don't like the Wells Fargo Cash Wise Visa Card because I know that Wells Fargo has used a systematic scheme to defraud consumers for over 50 years. Unfortunately, they are still at it with the card. My UBER Visa just applied the bonus cash without even a call but this card used trickery manipulation to hold off on paying any bonuses. Believe it or not but the company has already paid $1,000,000,000. They still follow their fraudulent behavior. I want the corporate executives to get into jail!"
"I applied for the Wells FargoCash Wise VisaCard some time ago. I live in a private gated home and I have the ring doorbell camera, so I can say with confidence that the card did not make it to my mail box. I had to call the company again and it arrived finally. However, I am now three weeks behind to get the $200 bonus, even though I can spend $1,000 in a week. That is not fair. I definitely don't recommend this card to others."
"I have nine credit cards each of which allows me to set up auto pay for the full statement balance. The Wells Fargo Cash Wise visa card does not allow this. You need to get a form in the mail first, fill it out, and fax it in. I can assume that all this is necessary because this feature allows customers to avoid paying interest. It is dubious ethics and subpar corporate culture. I am not satisfied."
My Final Summary
The Wells Fargo Cash Wise Visa Card is a new credit card with 1.5% cash back. It can be a good option for some customers, but there are cards on the market that offer much more perks. The card we have reviewed today has a number of disadvantages. The company behind it, Fargo, appears to conduct a dishonest policy. They have been caught for taking people's money, and have paid out millions of dollars in fines. The customer service reps seem to be not concerned about their cardholders at all. Taking into account all these drawbacks I cannot recommend the Wells Fargo Cash Wise Visa Card to anyone.
Wells Fargo Cash Wise Visa Card Pricing and Rates
The annual fee for the usage of the Wells Fargo Cash Wise Visa Card is $0. The card offers 1.5% cash back on all purchases. Second-year Net Rewards Rate is 2.08%. Bonus Value is $200 if you spend at least $1,000 in net purchases within the first three months.