Wells Fargo Active Cash Card Foreign Transaction Fee Explained

by | Mar 22, 2024 | Transactions fee | 0 comments

The Wells Fargo Active Cash Card is a compelling cash back credit card that offers a straightforward rewards program and a generous sign-up bonus. With unlimited 2% cash rewards on purchases, no annual fee, and a 0% introductory APR offer, this card is an attractive option for those looking to earn cash back on their everyday spending. However, it’s important to understand the card’s fees, including the foreign transaction fee, to determine if it’s the right fit for your needs.

Wells Fargo Active Cash Card Overview

Key Features and Benefits

The Wells Fargo Active Cash Card offers several enticing features and benefits, including:

  • Unlimited 2% cash back on all purchases
  • $200 cash rewards bonus after spending $500 in the first 3 months
  • 0% introductory APR on purchases and balance transfers for 15 months
  • No annual fee

These benefits make the card an appealing choice for consumers looking to maximize their cash back earnings without dealing with complicated rewards categories or annual fees.

Rewards Program Details

One of the standout features of the Wells Fargo Active Cash Card is its simple and rewarding cash back program. Cardholders earn unlimited 2% cash rewards on all purchases, with no categories to track or activate. The cash rewards do not expire as long as the account remains open, and there is no minimum redemption amount.

Cardholders have several options for redeeming their cash rewards, including:

  • Statement credits
  • Direct deposits into a Wells Fargo checking or savings account
  • Physical or digital gift cards
  • Charitable donations

Foreign Transaction Fee Explained

What is a Foreign Transaction Fee?

A foreign transaction fee, also known as an international transaction fee, is a charge assessed by credit card issuers on purchases made in a foreign currency or with a merchant located outside of the United States. This fee is typically a percentage of the transaction amount and is charged in addition to any applicable currency conversion fees.

Wells Fargo Active Cash Card Foreign Transaction Fee

The Wells Fargo Active Cash Card charges a 3% foreign transaction fee on all purchases made outside of the United States or in a foreign currency. This fee is assessed on each transaction and is calculated based on the U.S. dollar amount of the purchase.

For example, if you make a purchase for €100 while traveling abroad, and the transaction is converted to $120 U.S. dollars, you will be charged an additional $3.60 (3% of $120) in foreign transaction fees.

How to Avoid Foreign Transaction Fees

If you frequently travel internationally or make purchases in foreign currencies, it may be more beneficial to use a credit card that does not charge foreign transaction fees. Many travel rewards credit cards, such as the Chase Sapphire Preferred or Capital One Venture Rewards Credit Card, waive these fees, saving you money on your international transactions.

When using a credit card abroad, always opt to be charged in the local currency to avoid additional currency conversion fees imposed by merchants.

Additional Fees and Interest Rates

Balance Transfer Fee

The Wells Fargo Active Cash Card offers an introductory balance transfer fee of 3% (minimum $5) for the first 120 days after account opening. After the introductory period, the balance transfer fee increases to up to 5% (minimum $5).

Fee Type Amount
Introductory Balance Transfer Fee (first 120 days) 3% (minimum $5)
Regular Balance Transfer Fee Up to 5% (minimum $5)

Cash Advance Fee and APR

Cash advances on the Wells Fargo Active Cash Card are subject to a fee of $10 or 5% of the advance amount, whichever is greater. The cash advance APR is a high 29.99%, making cash advances a costly option that should be avoided if possible.

Annual Percentage Rates (APRs)

The Wells Fargo Active Cash Card offers a 0% introductory APR on purchases and balance transfers for the first 15 months. After the introductory period, the APR will be a variable 20.24%-29.99%, depending on your creditworthiness. The APR for cash advances is a high 29.99%.

Additional Card Benefits

Visa Signature Benefits

As a Visa Signature card, the Wells Fargo Active Cash Card offers a range of additional benefits, including:

  • Visa Luxury Hotel Collection: Access to exclusive benefits and perks at participating hotels worldwide
  • Visa Signature Concierge: 24/7 assistance with travel arrangements, dining reservations, and more
  • Travel protections: Auto rental collision damage waiver, travel accident insurance, and lost luggage reimbursement

Cell Phone Protection

When you pay your monthly cell phone bill with your Wells Fargo Active Cash Card, you can benefit from cell phone protection. This coverage provides up to $600 per claim (subject to a $25 deductible) for damage or theft of your cell phone. You can file a maximum of two claims per 12-month period.

Emergency Assistance Services

Cardholders also have access to emergency assistance services, including:

  • Travel emergency assistance: Help with medical and legal referrals, emergency transportation, and more
  • Roadside dispatch: 24/7 access to lockout service, towing, jumpstarting, and other roadside services (fees apply)
  • Emergency cash disbursement: Assistance with accessing and wiring emergency funds from your approved Wells Fargo account

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