Wells Fargo Active Cash vs. Platinum

Wells Fargo offers several different credit cards, and each of them may be right for different people in certain situations. Two of Wells Fargo’s no-annual-fee credit cards are the Wells Fargo Active Cash® Card and the Wells Fargo Platinum card*. In this article, we’ll take a look at these two cards and compare the Wells Fargo Active Cash and Platinum cards in several different areas to help you decide which might be right for you.

Wells Fargo Active Cash Card vs. the Platinum card

Here’s a look at how the Wells Fargo Active Cash and Wells Fargo Platinum cards compare in several important areas:

Cards	Wells Fargo Active Cash® Card	Wells Fargo Platinum card
Welcome bonus	$200 cash rewards bonus when you spend $1,000 in purchases in the first three months	None
Rewards rate	2% cash rewards on purchases	None
Intro APR	0% introductory APR for 15 months from account opening on purchases and qualifying balance transfers, then 15.74%, 20.74% or 25.74% variable	0% introductory APR for 18 months from account opening on purchases and qualifying balance transfers, then 16.49% to 24.49% variable
Annual fee	$0	$0
Other notable perks	Cellphone protection when you pay your monthly cellphone bill with the card	Cellphone protection when you pay your monthly cellphone bill with the card

Earning cash back

The Wells Fargo Active Cash earns 2% cash rewards on purchases, without any limit. Unlike some other cash back credit cards, there are no quarterly categories that require activation. The Wells Fargo Active Cash card also doesn’t have category bonuses, where you can earn different amounts depending on where you use the card. Instead, you earn 2% cash rewards on purchases, regardless of where you use your card, making this an easy-to-use rewards card. In contrast, the Wells Fargo Platinum card does not earn any rewards.

The Wells Fargo Platinum card also does not have any sort of initial sign-up bonus when you sign up for the card. If you’re looking for a sign-up bonus, you might want to consider the Wells Fargo Active Cash card. The Wells Fargo Active Cash card has a $200 cash rewards bonus when you spend $1,000 in purchases in the first three months of having the card.

Redeeming rewards

While the Wells Fargo Platinum card does not come with a rewards program, the Wells Fargo Active Cash card does earn cash rewards. You can redeem rewards to cover recent purchases, as a credit on a qualifying Wells Fargo credit card, checking account or mortgage, or even via a Wells Fargo ATM. To redeem your rewards over the phone or online, you must redeem them in $25 increments. Redeeming through a Wells Fargo ATM requires redemptions in $20 increments.

Annual fee

Neither the Wells Fargo Active Cash card nor the Wells Fargo Platinum card have an annual fee. This makes both of these credit cards great options for people who are looking for a low-cost credit card they can keep in their wallet for years to come.

Introductory APRs

One area where both the Active Cash and Platinum cards shine is in their introductory 0% APR offers. The Wells Fargo Active Cash card offers a 0% intro APR for 15 months from account opening on purchases. Qualifying balance transfers made within 120 days from account opening also qualify for this introductory rate. The intro period is followed by a variable APR of 15.74%, 20.74% or 25.74%.

The Wells Fargo Platinum card also offers a 0% introductory APR, but it extends the intro offer for 18 months from the date you open your account. Again, balance transfers made within the first 120 days of having the account also qualify for this intro rate. After the intro period, a variable APR of 16.49% to 24.49% applies.

If you don’t pay off your purchases by the end of the introductory period, you will be charged the regular interest rates. Another thing to keep in mind is that while there isn’t any interest on qualifying balance transfers during the introductory period, you may have to pay balance transfer fees. For both the Active Cash and Platinum cards, the intro balance transfer fee is 3% (or $5, whichever is greater) if you transfer your balance within the first 120 days; after that, your balance transfer fee will move up to 5% (or $5 minimum).

Other perks and benefits

Both the Wells Fargo Platinum and Wells Fargo Active Cash come with cellphone protection if you pay your monthly cellphone bill with the card. You can get up to $600 of cellphone protection against damage or theft. This coverage is supplementary and comes only after any other insurance coverage (renter’s, employer’s or homeowner’s insurance) is applied. There is a $25 deductible, and you are limited to two claims per 12-month period.

Wells Fargo Active Cash: Best for those looking for rewards

The Wells Fargo Active Cash is a great option for people who are looking for a cash back rewards credit card. A 2% cash rewards rate on purchases is an outstanding rewards rate for ongoing purchases, especially for a credit card with no annual fee. And it even comes with an initial bonus of $200 cash rewards (after spending $1,000 in purchases in the first three months) which again is very competitive with other no annual fee cash-back credit cards. If you’re looking for other options that earn 2% cash back with no annual fee, you might be interested in checking out the Citi® Double Cash Card, as well.

See related: Wells Fargo Active Cash vs. Citi Double Cash

Wells Fargo Platinum card: Best for those looking for a longer 0% APR period

The Wells Fargo Platinum card does not come with any rewards, either as an initial sign-up bonus or for ongoing purchases. One area where it stands ahead of the Wells Fargo Active Cash card is in the length of its introductory 0% APR period. While the Active Cash card comes with 15 months from account opening of 0% intro APR on purchases and qualifying balance transfers (15.74%, 20.74% or 25.74% variable APR thereafter), the Wells Fargo Platinum card has three additional months, for a total of 18 months of 0% intro APR on qualifying purchases and balance transfers (followed by the regular APR of 16.49% to 24.49% variable). If you’re looking to take advantage of the 0% introductory APR and want the maximum amount of time, you might consider the Wells Fargo Platinum card.

Bottom line

If you are trying to compare the Wells Fargo Active Cash and Platinum cards on benefits, it may be difficult as the two cards share many similarities. Both cards offer cellphone protection, as well as an introductory APR on qualifying purchases and balance transfers. If you’re looking for a cash back credit card that yields rewards on your purchases, though, the Wells Fargo Active Cash card stands out.

All information about the Wells Fargo Platinum card has been collected independently by CreditCards.com. The issuer did not provide the content, nor is it responsible for its accuracy.