Wells Fargo to launch new 1.5% cash back credit card called "Cash Wise"
May 7, 2016, 6:07 pm
#1
Original Poster
Join Date: Feb 2015
Posts: 910
Wells Fargo to launch new 1.5% cash back credit card called "Cash Wise"
According to this post from someone who claims to be a Wells Fargo employee (also corroborated from someone on Reddit), the card will go live in June and it will feature 1.5% cash back on all purchases. It will be available in Visa and Visa Signature varieties and will have no annual fee.
The poster also states there will be a 1.8% cashback on Apple Pay for the first 12 months, then it goes to the regular 1.5% as everything else. No mention of sign up bonuses.
Overall it sounds unimpressive considering there are already several 1.5% - 2% cash back cards out there with no annual fee. If they allow existing customers to product change to it, I can see it being of value to people that already have other less beneficial Wells Fargo cards and want to maintain or build a relationship with Wells Fargo.
The poster also states there will be a 1.8% cashback on Apple Pay for the first 12 months, then it goes to the regular 1.5% as everything else. No mention of sign up bonuses.
Overall it sounds unimpressive considering there are already several 1.5% - 2% cash back cards out there with no annual fee. If they allow existing customers to product change to it, I can see it being of value to people that already have other less beneficial Wells Fargo cards and want to maintain or build a relationship with Wells Fargo.
May 24, 2016, 9:45 am
#3
Join Date: Jan 2010
Location: DCA/RIC
Programs: HH LTD, AA LTG
Posts: 1,015
One of my oldest cards is a Wells Fargo Cash Back card. I called to see about doing a product change to this new card. The direct # for WF Credit Card Product Change is 844-879-4824. I was told I could upgrade to the new card and that I would be getting a VISA Signature vice VISA non-signature which is what I currently have and that they will not do a hard credit pull in the process. BUT... and this was a showstopper for me, they would actually close out my current card, and issue me a new one with a new number and that it will show as a new card on my report, with my current WF account closed.
If someone gets converted without having to close out current card please post details here.
If someone gets converted without having to close out current card please post details here.
Last edited by isle-hawg; May 24, 2016 at 3:26 pm
Jul 30, 2016, 4:38 pm
#5
Join Date: Jan 2011
Posts: 368
Go Far Rewards are generally transferable between card accounts. So if one had both a Cash Wise (earns at 1.5x) and a Visa Signature (redeem at 1.5x on airfare), could this be a 2.25x card?
Oct 4, 2016, 1:59 pm
#6
Join Date: Apr 2012
Location: NYC, LAX, HKG
Posts: 286
One of my oldest cards is a Wells Fargo Cash Back card. I called to see about doing a product change to this new card. The direct # for WF Credit Card Product Change is 844-879-4824. I was told I could upgrade to the new card and that I would be getting a VISA Signature vice VISA non-signature which is what I currently have and that they will not do a hard credit pull in the process. BUT... and this was a showstopper for me, they would actually close out my current card, and issue me a new one with a new number and that it will show as a new card on my report, with my current WF account closed.
If someone gets converted without having to close out current card please post details here.
If someone gets converted without having to close out current card please post details here.
Jan 23, 2017, 12:43 am
#7
Join Date: Jan 2017
Posts: 2
I just went through a product upgrade from Wells Fargo College Card to Wells Fargo Cash Wise Platinum card.
I got approved within few minutes and with a greater credit limit aswell. (It got approved after credit pull).
Now, I am bit worried as with my old College Card as i built a good credit history so, after geting my new card will all history wipe out and drop my credit score?
Just to add a bit history, i was using my college card for past eight months and it was my first credit card. It was in good standing with all timely payments.
Is there anyway i can reactivate my college card?
I got approved within few minutes and with a greater credit limit aswell. (It got approved after credit pull).
Now, I am bit worried as with my old College Card as i built a good credit history so, after geting my new card will all history wipe out and drop my credit score?
Just to add a bit history, i was using my college card for past eight months and it was my first credit card. It was in good standing with all timely payments.
Is there anyway i can reactivate my college card?
Last edited by Kumail Naqvi; Jan 23, 2017 at 12:53 am
Jan 23, 2017, 4:05 pm
#8
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,954
No, you need to look at your credit report to verify if Wells Fargo closed your original account and opened a new one, or if they converted the existing account. If they closed the original account it will remain on your report for about a decade, it doesn't disappear.
Jul 19, 2019, 7:42 am
#10
Join Date: Jul 2011
Location: santa monica, ca
Programs: AA Lifetime Gold
Posts: 201
Data point For chase sapphire
I hold Amex personal and visa personal opened 2010. No other cards until November 2018. I opened a Citi personal. A delta Amex business. A Citi business.
A revolve. An arrival plus. A chase sapphire. And then the chase ink (business) recently in March 2019. Credit score stayed 819-825 with little variation.
I then in July applied for CSR and another batch of cards: Barclays and chase denied. I tried a Wells Fargo card. Denied.
My score took a hit at trans union. Down to 789.
When I called chase they said I had too large a credit line on all the cards 125k and why did I open so many cards recently? Still denied.
Today wells fatgo sent me a targeted offer for a cash back card. My question is— does it help that I have large account at Wells Fargo? What are my chances that Wells Fargo will approve my application using the targeted offer given my recent denial for the propel card?
A revolve. An arrival plus. A chase sapphire. And then the chase ink (business) recently in March 2019. Credit score stayed 819-825 with little variation.
I then in July applied for CSR and another batch of cards: Barclays and chase denied. I tried a Wells Fargo card. Denied.
My score took a hit at trans union. Down to 789.
When I called chase they said I had too large a credit line on all the cards 125k and why did I open so many cards recently? Still denied.
Today wells fatgo sent me a targeted offer for a cash back card. My question is— does it help that I have large account at Wells Fargo? What are my chances that Wells Fargo will approve my application using the targeted offer given my recent denial for the propel card?