Do you want to earn unlimited 2% cash back on all your purchases with no annual fee? If that sounds appealing, then the Wells Fargo Active Cash® Card is likely on your radar! But the burning question for many is: "How hard is it to get the Wells Fargo Active Cash card?"
While no credit card approval is guaranteed, the Wells Fargo Active Cash card is generally considered accessible to those with good to excellent credit. This comprehensive guide will break down everything you need to know about qualifying for this popular cash back card, step-by-step, and equip you with the knowledge to boost your approval odds.
Step 1: Assessing Your Current Credit Standing
Before you even think about hitting that "Apply Now" button, the absolute first step is to know your credit score. This is not just a formality; it's the most crucial indicator of your approval likelihood.
Understanding Credit Score Ranges
- Excellent Credit: Typically FICO Score 800-850.
- Very Good Credit: Typically FICO Score 740-799.
- Good Credit: Typically FICO Score 670-739.
- Fair Credit: Typically FICO Score 580-669.
- Poor Credit: Typically FICO Score 300-579.
For the Wells Fargo Active Cash card, a good to excellent credit score is generally recommended. This means aiming for a FICO Score of 670 or higher. While some applicants with scores in the high 600s might get approved, a score closer to 700 or above will significantly improve your chances.
How to Check Your Credit Score
There are several ways to get your credit score:
- Free Credit Score Services: Many financial institutions and websites offer free access to your credit score (e.g., Experian, Credit Karma, NerdWallet). Wells Fargo itself offers a "Credit Close-Up℠" service for its account holders to monitor their FICO Score.
- Your Bank/Credit Card Issuer: Many banks and credit card companies provide free FICO scores to their customers.
- AnnualCreditReport.com: You can get a free copy of your credit report from each of the three major credit bureaus (Equifax, Experian, and TransUnion)
once every 12 months. While this doesn't directly give you your score, it's essential for reviewing your credit history for any errors.
Take the time to examine your credit report for any inaccuracies. Disputing and correcting errors can significantly impact your score and, consequently, your approval odds.
Reminder: Short breaks can improve focus.
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| How Hard To Get Wells Fargo Active Cash |
Step 2: Meeting Wells Fargo's General Application Requirements
Beyond a strong credit score, Wells Fargo has some fundamental requirements that all applicants must meet.
Key Eligibility Criteria
- Age Requirement: You must be at least 18 years old.
- Steady Income: While there's no publicly stated minimum income, you need to demonstrate a reliable source of income to show you can handle the credit granted. This can come from employment, self-employment, benefits, or other verifiable sources.
- Social Security Number (SSN) or ITIN: You'll need a Social Security Number or an Individual Taxpayer Identification Number to apply.
- Physical U.S. Address: Federal regulations require a physical U.S. address, not a P.O. Box, for credit card applications.
It's important to be honest and accurate with all information provided on your application. Any discrepancies could lead to denial.
Step 3: Navigating Wells Fargo's Application Rules
Wells Fargo has a few specific rules that can impact your eligibility, especially if you're an existing Wells Fargo customer or have recently applied for another Wells Fargo card.
The "Six-Month Rule"
Wells Fargo generally has a "six-month rule" in place. This means you typically cannot qualify for a new Wells Fargo credit card if you've opened one within the last six months. This rule applies to most
- If you've recently opened another Wells Fargo card, it's advisable to wait at least six months before applying for the Active Cash to avoid an automatic denial.
Welcome Offer Eligibility
Wells Fargo used to have a restriction on earning welcome bonuses, but current terms and conditions suggest this is no longer the case. Previously, you might have been restricted from earning a welcome bonus if you'd received one within the last 15 months. However, always double-check the specific terms and conditions on the Wells Fargo website at the time of your application for the most up-to-date information regarding welcome offers.
QuickTip: Don’t just consume — reflect.
Step 4: Pre-qualification: A Smart First Move
Wells Fargo offers a pre-qualification tool on their website. This is a highly recommended step before formally applying.
What is Pre-qualification?
Pre-qualification involves a soft credit pull, which means it does not impact your credit score. It gives you an indication of your approval odds without leaving a hard inquiry on your credit report. If you pre-qualify, it suggests you have a good chance of being approved for the card.
How to Pre-qualify
- Visit the Wells Fargo Website: Look for the credit card section and find the Wells Fargo Active Cash card.
- Look for the Pre-qualification Option: There should be a link or button that says "See if you're pre-qualified" or similar.
- Provide Basic Information: You'll typically need to enter your name, address, and the last four digits of your Social Security number. Existing Wells Fargo customers might be able to log in to streamline this process.
- Review the Results: Wells Fargo will show you any cards you're pre-qualified for.
While pre-qualification doesn't guarantee approval, it's a strong positive sign. If you don't pre-qualify, it's a clear indication that you should work on improving your credit profile before applying to avoid a hard inquiry and a potential denial.
Step 5: Submitting Your Application
If you've assessed your credit, met the general requirements, understood the application rules, and ideally, pre-qualified, it's time to apply!
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The Application Process
- Online Application: The easiest and fastest way to apply is online through the official Wells Fargo website.
- Provide Personal and Financial Details: Be prepared to provide information such as:
- Full name and contact information
- Date of birth
- Social Security Number or ITIN
- Physical U.S. address
- Employment status and income details (including sources and amount)
- Housing status (rent/own) and monthly housing payment
- Review and Submit: Carefully review all the information you've entered for accuracy before submitting your application.
What Happens After You Apply?
- Instant Decision: Sometimes, you'll receive an instant approval or denial.
- Pending Decision: Other times, your application may go into a "pending" status for further review. This doesn't necessarily mean denial; it just means Wells Fargo needs more time to assess your application.
- Request for More Information: In some cases, Wells Fargo might contact you for additional documentation or clarification. Respond promptly to these requests.
A hard inquiry will be placed on your credit report once you submit a formal application. This can cause a slight, temporary dip in your credit score.
Tip: Stop when you find something useful.
Step 6: Post-Approval: Managing Your New Card Responsibly
Congratulations if you're approved for the Wells Fargo Active Cash card! The journey doesn't end there. Responsible credit card management is key to maintaining a healthy credit score and enjoying the benefits of your card.
Best Practices for Your New Card
- Pay Your Bill On Time, Every Time: This is the single most important factor for your credit score. Set up automatic payments to avoid missing due dates.
- Pay Your Statement Balance in Full: If possible, pay off your entire statement balance each month to avoid interest charges and keep your credit utilization low.
- Keep Credit Utilization Low: Aim to keep your credit utilization (the amount of credit you're using compared to your total available credit) below 30%, and ideally even lower (under 10%) for optimal credit health.
- Monitor Your Account: Regularly check your Wells Fargo Active Cash account for any unauthorized activity or errors.
- Utilize Benefits: Take advantage of the card's benefits, such as the unlimited 2% cash rewards, cell phone protection, and introductory APR offers if applicable.
How hard is it to get the Wells Fargo Active Cash? - Summary
Getting the Wells Fargo Active Cash card is generally not considered overly difficult for individuals with a solid credit profile. The key is to have a good to excellent credit score (670+ FICO), a stable income, and to be aware of Wells Fargo's specific application rules, such as the six-month rule. By following the steps outlined above, you can significantly improve your chances of approval and start enjoying the unlimited 2% cash rewards!
10 Related FAQ Questions
How to check my Wells Fargo Active Cash application status?
You can usually check your Wells Fargo Active Cash application status online through their website by providing your application reference number and personal details.
How to increase my Wells Fargo Active Cash credit limit?
To increase your Wells Fargo Active Cash credit limit, you can either wait for an automatic increase from Wells Fargo (which often happens with responsible usage) or request a credit limit increase directly through your online banking account or by calling customer service.
How to redeem Wells Fargo Active Cash rewards?
You can redeem Wells Fargo Active Cash rewards for a statement credit, direct deposit into an eligible Wells Fargo checking or savings account, cash at Wells Fargo ATMs (in $20 increments), or gift cards.
Tip: Patience makes reading smoother.
How to avoid foreign transaction fees with Wells Fargo Active Cash?
The Wells Fargo Active Cash card has a 3% foreign transaction fee. To avoid these fees when traveling internationally, you would need to use a different credit card that does not charge foreign transaction fees.
How to get the Wells Fargo Active Cash sign-up bonus?
To get the Wells Fargo Active Cash sign-up bonus (currently $200 cash rewards), you typically need to spend a specified amount (e.g., $500) in purchases within the first three months of account opening. Always check the current offer terms.
How to use Wells Fargo Active Cash cell phone protection?
To be eligible for Wells Fargo Active Cash cell phone protection (up to $600 per claim, with a $25 deductible), you must pay your monthly cell phone bill with your Active Cash card. If your phone is damaged or stolen, you'd file a claim with the benefit administrator.
How to pay my Wells Fargo Active Cash bill?
You can pay your Wells Fargo Active Cash bill online through Wells Fargo Online Banking, via the Wells Fargo mobile app, by phone, by mail, or in person at a Wells Fargo branch.
How to improve my credit score for Wells Fargo Active Cash approval?
To improve your credit score, focus on paying all your bills on time, keeping your credit utilization low (below 30% or even 10%), avoiding opening too many new accounts in a short period, and checking your credit report for errors.
How to contact Wells Fargo credit card customer service?
You can contact Wells Fargo credit card customer service by calling the number on the back of your card, or by visiting the "Contact Us" section on the Wells Fargo website for general customer service numbers.
How to close a Wells Fargo Active Cash account?
To close a Wells Fargo Active Cash account, you should first pay off any outstanding balance. Then, contact Wells Fargo customer service by phone to request the account closure. It's often recommended to do this in writing as well.
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