The content is accurate at the time of publication and is subject to change.

This content is not provided by Citi. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by the Citi.

Citi is a Credit-Land.com advertising partner.

News: Wells Fargo to Launch 2% Cash Back Credit Card - Credit-Land.com

Wells Fargo is planning to update their consumer credit card portfolio by adding three new products. The bank has already announced the roll-out of the first card in its new Visa cards suite - the Wells Fargo Active Cash® Card.

The new Active Cash Card will become available in July. The card offers unlimited 2% cash rewards on all purchases, a $200 cash rewards bonus for spending $500 in purchases in the first three months, no annual fee, and a 0% intro APR on purchases and qualifying balance transfers for 15 months (20.24%, 25.24%, or 29.99% Variable APR applies after that).

The new card is a great option for people who are looking to apply for a cash back credit card but do not want it to have a complex rewards program with categories or limits to track. Also, if you spread your spendings evenly and do not put more money into certain categories, the flat 2% cash back on all purchases could be a good fit for you.

In addition to a simple and straightforward reward program, the Active Cash Card offers flexible cash redemption options. Cardholders will be able to redeem earned cash rewards as a credit to their Active Cash account, at Wells Fargo ATMs in $20 increments using Wells Fargo debit or ATM card, direct deposit into a Wells Fargo savings or checking account, or toward recent purchases.

The new Wells Fargo Active Cash® Card from Wells Fargo could compete with other 2% cash-back credit cards, like the Citi Double Cash® Card (the card offers 2% cash back: 1% when you buy and 1% as you pay).

Later this year, Wells Fargo plans to roll out one more consumer credit card - the Wells Fargo Reflect® Card, which is a low-APR card. And in 2022, a new rewards card line is expected.