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Wells Fargo 2 cashback card 

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Wells Fargo 2 cashback card 

Looking for the best fixed-rate loyalty card? You’ve probably come across the Wells Fargo Active Cash® Card and the Citi® Double Cash Card. These two credit cards stand out and both offer attractive rewards programs. Let’s compare the Wells Fargo Active Cash and the Citi Double Cash to see which one is the best value.

Rewards Programs

Let’s start by comparing the rewards programs of these two cards. Both the Wells Fargo Active Cash and the Citi Double Cash offer simple and lucrative rewards, allowing you to earn 2 ash on your purchases. However, the way these rewards are applied differs. With the Active Cash, you receive both ash rewards every time you pay off your balance, while the Double Cash gives you 1 ash on the initial purchase and then the other 1% when you pay it off.

While the difference in rewards application can be confusing at first, it shouldn’t have much of an impact if you pay off your balance in full each month. Additionally, neither card charges an annual fee, which allows you to stack them with other cards that offer higher rewards in specific spending categories, maximizing your overall rewards potential.

Welcome bonus

When it comes to welcome bonuses, Wells Fargo Active Cash is the clear winner. Unlike Citi Double Cash, which doesn’t offer a welcome bonus, Active Cash rewards you with a $200 cash bonus when you spend $500 on purchases in the first three months of account opening. This is a nice offer that gives Active Cash an edge in this category.

Other benefits

When it comes to other card benefits, once again, the Wells Fargo Active Cash outshines the Citi Double Cash. While the Double Cash only offers standard fraud protection, the Active Cash offers a range of additional benefits. These include cell phone protection against damage or theft, roadside assistance, and various hotel and travel benefits through the Visa Signature Concierge and Visa Signature Luxury Hotel Collection. While these additional benefits aren’t extensive, they are more attractive than those of the Double Cash card.

Annual Percentage Rate (APR) Offers

Now, let’s move on to the introductory annual percentage rate (APR) offers. Wells Fargo Active Cash offers cardholders an introductory 0% APR on purchases and eligible balance transfers for 15 months from account opening (after which the variable APR ranges from 19.99% to 29.99%). On the other hand, Citi Double Cash offers an introductory 0% APR on balance transfers for 18 months (variable APR ranges from 18.99% to 28.99%), but balance transfers must be completed within four months of account opening.

Since both cards are primarily designed to earn rewards on new purchases, the introductory APR for purchases is more relevant. Here, Active Cash takes the edge with its 15-month 0 PR offer, which lets you finance a large purchase and pay it off without interest charges.

However, if your priority is to get rid of existing credit card debt, the Citi Double Cash card is the better choice because of its longer introductory balance transfer offer of 18 months. Just remember not to make new purchases with the card until you have paid off the transferred debt.

Both cards have a 3% balance transfer introductory fee (with a $5 minimum) for the first four months after account opening. After that period, the balance transfer fee increases for both cards; the Citi Double Cash increases it to 5%, while the Active Cash increases it to 5% (with a $5 minimum) after 120 days from account opening.

Conclusion

Both the Wells Fargo Active Cash and the Citi Double Cash offer solid fixed-rate rewards. However, Active Cash comes across as the more rewarding card, thanks to its welcome bonus, additional perks, and 0% introductory APR on purchases. For those looking to pay off credit card debt, the Citi Double Cash offers a longer window for balance transfers. Ultimately, choosing between these two cards comes down to your financial goals and spending habits.

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