BREAKING NEWS! Wells Fargo to Release NEW CREDIT CARDS in 2021 & 2022! (Wells Fargo Active Cash)
Mark Reese // Credit & Finance
•June 10th, 2021
DESCRIPTION
Wells Fargo has announced the BRAND-NEW Active Cash credit card, PLUS an ALL-NEW credit card lineup that will be gradually released starting in 2021 and continue into 2022. I’ll be going over the press release details in this video! Click “Show More” to see Ad Disclosure.
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PRESS RELEASE LINK: https://www.businesswire.com/news/home/20210608005295/en/
PART 1
Wells Fargo announced a brand-new credit card that will be launching in July 2021. It’s called the Wells Fargo Active Cash Card (offering cash back rewards) and it will be followed by a second new credit card called the Wells Fargo Reflect Card (geared for low a APR).
Wells Fargo has also announced that these new cards will be part of a new portfolio (suggesting other rewards credit cards are on the way)!
They’ve got a new vision for their credit card lineup and emphasize a broader effort to simplify its products and services.
PART 2
The Wells Fargo Active Cash Card will include the following features:
- $0 annual fee.
- Unlimited 2% cash rewards on purchases
- A welcome bonus of $200 when you spend $1,000 in purchases in the first 3 months
- An introductory 0% APR on purchases and qualifying balance transfers for the first 15 months from account opening; after that, a variable APR of 14.99% to 24.99% will apply
- Cell phone protection when you pay your monthly cell phone bill with the Active Cash Card. Here’s the link for more info about this benefit: wellsfargo.com/ctp
- Advanced security features, including voice verification and 2-step verification at digital banking sign-on
- Access to Visa Signature Concierge Service & Visa Signature Luxury Hotel Collection
- For more information about all of these details, visit: wellsfargo.com/activecash
PART 3
Wells Fargo is also improving its co-branded credit cards, which we saw earlier with the release of the Hotels.com Rewards Visa Credit Card. Per Wells Fargo’s CEO of Consumer Lending (Mike Weinbach), “Our focus on building momentum in the co-branded card space is another exciting step in our transformation, and we believe the business is ripe for growth at Wells Fargo. We look forward to bringing even more co-brand card partners to Wells Fargo's proven marketing and underwriting capabilities, as well as new rewards strategies.”
I’m very excited to see Wells Fargo reimagine their credit card lineup with all-new products, and a flat 2% cash back card with a 0% APR card to follow is a good foundation to build upon.
There are a lot of great cash back credit cards on the market today. It’s good to see Wells Fargo’s desire to play catch up and hopefully compete in a very strong way.
My personal desire is that these new credit cards will offer rewards that can be pooled / combined so that multiple cards can be used together. This would create a strong ecosystem to maximize the return on spend across many rewards categories.
Time shall reveal what the Wells Fargo Team has in store!
Disclosure: This site is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as CreditCards.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. Mark Reese is not a financial advisor.
#creditcards #wellsfargo #cashbackcreditcards
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