New Wells Fargo Cash Wise Visa Versus Similar No-Annual-Fee Cards

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Last month, I wrote about a potential new Wells Fargo cash back card.

You can now sign-up for the new no annual fee Wells Fargo Cash Wise Visa® card.  It earns 1.5% back on purchases.  And 1.8% back on Android Pay and Apple Pay purchases made during the first 12 months after account opening.

The information for the Wells Fargo Cash Wise has been collected independently by Million Mile Secrets. The card details on this page have not been reviewed or provided by the card issuer.    But there’s NO sign-up bonus.

For most folks this is probably NOT the best cash back card.  I’ll explain and give you alternatives!

What’s the Deal With the Cash Wise Visa?

Link:   Wells Fargo Cash Wise Visa card 

Link:   Get up to $575 Back for a Damaged or Stolen Cell Phone With Wells Fargo Cards

You’ll need to have an existing Wells Fargo banking relationship to apply for the Cash Wise card online.  Or, you can apply in a local branch.

There’s NO sign-up bonus on the new card.  You’ll get:

• 1.5% cash back on purchases
• 1.8% cash back on Android Pay and Apple Pay purchases made during the first 12 months
• Cell phone protection insurance
• No annual fee

My favorite perk on this card is the cell phone protection insurance.

If you pay your monthly cell phone bill with the Cash Wise card, you’ll be eligible for up to $600 in cell phone protection if your phone is damaged or stolen.

The cell phone protection covers the primary phone and the first 3 phone numbers that appear on the monthly bill.

You’ll need to pay a $25 deductible, so you’re effectively getting $575 toward a new phone.

This benefit can save you money instead of paying for third party cell phone insurance.

Here are the the full terms and conditions of the program.

Similar but Better Cards

Besides the cell phone insurance benefit, there are lots of no-fee credit cards that earn more cash back for regular spending, including:

• Chase Freedom Unlimited – Earn 1.5% cash back per $1 you spend.  Here’s my review of the Freedom Unlimited.

• Citi Double Cash Card – Earn 1% cash back on purchases and 1% cash back as you pay for those purchases in full or over time.  Here’s my review.

• Discover it® Miles – Earn 1.5 miles per $1 you spend (matched at the end of the first 12 billing cycles for new cardholders).  Here’s my review of the card.

• Fidelity Visa Signature – Earn 2 Fidelity points per $1 (2% cash back) on all spending, when you deposit your rewards points into a Fidelity account.  Here’s my full review.

The information for the Discover it  Miles has been collected independently by Million Mile Secrets. The card details on this page have not been reviewed or provided by the card issuer

My favorite is the Chase Freedom Unlimited.  Because you can earn:

• 15,000 Chase Ultimate Rewards points ($150) when you sign-up and spend $500 on purchases in the first 3 months of opening your account
• 1.5X Chase Ultimate Rewards points (1.5% cash back) per $1 you spend on all purchases with NO limit 
• No annual fee

And the main reason is that when you have the Chase Sapphire Preferred, Chase Ink Plus, or Chase Ink Bold (no longer available) card, you can transfer the Ultimate Rewards points to travel partners for Big Travel!

Keep in mind Chase’s new application rules before applying.  If you’re new to miles & points, there are more valuable Chase cards you should consider first.

Bottom Line

The new no annual fee Wells Fargo Cash Wise Visa card is now open for applications.  You can earn 1.5% back on purchases and 1.8% back on Android Pay and Apple Pay purchases made during the first 12 months after account opening.

You’ll get cell phone protection insurance when you pay your monthly cell phone bill with the card.  So you can get up to $575 towards a new cell phone if your phone is damaged or stolen.

In terms of cash back, you’ll get more from cards like the Chase Freedom Unlimited, Citi Double Cash, Discover it® Miles, and Fidelity Visa Signature.