Are you looking for the best cash rewards program from Wells Fargo? If you are, then you need to know that there are a few differences between the various cash back credit cards offered by this bank. The most obvious one is that there are only rewards if you pay your balance in full each month. There are other differences as well, but the two most important are the interest rate and the annual fee. You can easily compare these two factors to find out which card is best suited for your needs.
Let's take a look at the interest rate first. The interest rate on this card is Blue Cash every day, which is a low-interest credit card offer from Wells Fargo. This interest rate pays 1.9% per year for balance transfers and purchases and is not available for cash rewards. If you are planning on using this card for purchases, then you will not be eligible for the Blue Cash Everyday rebates, since this card is strictly for purchases. If you do qualify, however, you will enjoy higher savings rates and a lot of added perks.
The annual fee is slightly higher than Blue Cash every day, but it is also not offered to new customers. This annual fee is associated with the lender's standard customer finance charge, which is charged at the end of the sign-up period. If you build credit slowly, this could be an excellent choice for you. While it does not give you cash back, it builds credit, which is one of the reasons you should take advantage of this option. Plus, it won't cost you anything extra to take advantage of the offers and rebates until the first six months you have paid off your balance.
Now let's look at cellphone insurance. If you are like most people, you receive your cellular phone, home phone or laptop through your cellular carrier. You pay the same monthly plan fees as everyone else on your plan. If you don't like your current cellular carrier, you might consider switching to a better provider. By paying your normal monthly plan fees, you can build credit, which makes you eligible for more offers and higher cash back rewards.
One of the best benefits of this card is the cash rewards program. For every dollar you pay on your cellphone insurance for the first six months, you get up to two percent cash back. When you compare that to the costs of having a phone line, the savings are substantial. This type of saving is not available with all cell phone plans, so you will want to compare your individual cell phone plan details to make sure this bonus offer is included. This is one of the few places where you can save money simply by building credit.
Another benefit of this card is the easy access it provides to online banking. Most cellphone insurance companies require you to have a bank account to receive your cash rewards. Wells Fargo lets you set up a direct deposit into your account right from your bank card. You can also use your phone to make payments right from your card. No annual fee means a lower cost when compared to most other lenders, making this card an excellent choice for saving cash.
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