One of the easiest tools you can have in your wallet for extra savings is a 2% lump sum cash back credit card. Whether you prefer to earn cash over other types of rewards, or are looking for a card that will help you maximize spending excluded from categories where you already earn bonus rewards, a fixed cash back card can help you save on anything you buy.
Two of the most popular options on the market today are the Wells Fargo Active Cash℠ card and the Citi® Double Cash card. Both are some of our best cash back credit cards and offer great cash rewards on top of the introductory APR offers.
Despite the similarities, there are a few important differences that set these cards apart and can help you choose the best 2% card for you. Here’s what you need to know:
Side by side comparison
| Wells Fargo Active Payment Card | Citi Double Cash Card | |
|---|---|---|
| Annual subscription | $ 0 | $ 0 |
| Welcome offer | $ 200 cash bonus when you spend $ 1,000 on purchases within 3 months of opening the account | Nothing |
| Cash back | Earn 2% discount on all your purchases | Earn 2% on all your purchases – 1% when you buy and an extra 1% when you refund your purchases |
| Other benefits | • Introductory APR of 0% on qualifying purchases and balance transfers for 15 months, followed by a variable APR of 14.99%, 19.99% or 24.99%
• Cell phone protection • Redeem rewards for statement credits, transfers to a Wells Fargo bank account, ATM withdrawals or gift cards |
• 0% APR on balance transfers for 18 months, followed by a variable APR of 13.99% to 23.99%
• Citi Entertainment benefits • Redeem rewards for statement credits or cash back or convert them to Citi ThankYou points |
Bonus comparison
The Wells Fargo Active Cash Card is clearly the winner in this category. You will receive $ 200 in bonus cash when you sign up and spend at least $ 1,000 on purchases within three months of opening the account. This equates to roughly $ 334 in purchases per month for three consecutive months.
In contrast, Citi Double Cash does not offer any cash welcome bonus.
Comparison of rewards and benefits
Both cards offer the same 2% cash back on everything you buy. However, these rewards may look a little different in practice.
You will only get the full 2% rewards with the Citi Double Cash card when you pay your balance in full. You earn 1% when you make a purchase, and the other 1% when you pay it back. However, if you pay your card balance in full and on time each month, it shouldn’t affect you.
The Wells Fargo Active Cash Card is simpler – you’ll earn 2% cash back with every purchase. While you still need to pay your balances in full and on time each month, it can be an advantage if you take advantage of this card’s introductory offer at 0% APR on new purchases (followed by a variable APR of 14.99%, 19.99% or 24.99%). You will earn your rewards up front, even if you work to pay off the balance during the introductory period.
Pro tip
If you’re looking for a credit card specifically to transfer existing debt and aren’t looking for ongoing rewards, the best balance transfer cards available today offers 0% APR for up to 20 billing cycles.
Another difference is the redemption options. With the Citi Double Cash card, you can redeem rewards for statement credits or cash back in the amount of $ 25 or more, but you can also convert your cash back rewards into Citi ThankYou points. This second option can be particularly lucrative if you have a Citi travel rewards card such as the Citi Premier® card or the Citi Prestige® credit card, which can unlock the ability to transfer your points to Citi airline and hotel partners.
The Wells Fargo Active Cash card also offers a few options, including gift card redemptions, statement credits, transfers to qualifying Wells Fargo bank accounts, payments for a Wells Fargo mortgage, or ATM withdrawals with a card. Wells Fargo Debit Card.
APR
Both of these cash back credit cards come with an introductory APR offer, but they are aimed at different types of consumers.
Citi Double Cash offers 0% APR on balance transfers only for 18 months, followed by a variable APR of 13.99% to 23.99%. If you already have high interest debt that you want to consolidate, this might be the best option.
Meanwhile, the Wells Fargo Active Cash card comes with an introductory APR of 0% on new purchases and qualifying balance transfers for 15 months, followed by a variable APR of 14.99%, 19.99 % or 24.99%. This makes it a good option for debt consolidation (although you’ll have less time to pay off your balance than with Citi Double Cash) or to pay off an upcoming large purchase over time.
Costs
These two cards have no annual fee. If you transfer a balance, you will pay the same 3% balance transfer fee (minimum $ 5) with both cards for a limited time. With Citi Double Cash, these fees apply for four months after opening the account and then go up to 5% (minimum $ 5). With the Wells Fargo Active Cash card, the 3% fee applies for 120 days after opening the account, then increases to 5% (minimum $ 5).
Both cards also charge the same 3% overseas transaction fee, 5% cash advance fee (minimum $ 10), and up to $ 40 in potential fees for late or returned payments.
Wells Fargo Active Cash Card℠
- Introductory bonus:
- Annual subscription :
$ 0
- Regular APR:
14.99% -24.99% (Variable)
- Recommended credit:
670-850 (good to excellent)
- Learn more On our partner’s secure site
Citi® Double Cash Card
- Introductory bonus:
N / A
- Annual subscription :
$ 0
- Regular APR:
13.99% – 23.99% (Variable)
- Recommended credit:
670-850 (good to excellent)
- Learn more On our partner’s secure site
Chase Freedom Unlimited®
- Introductory bonus:
- Annual subscription :
$ 0
- Regular APR:
14.99% – 24.74% Variable
- Recommended credit:
670-850 (good to excellent)
- Apply now On the secure Chase site
Choosing between the Wells Fargo Active Cash Card and the Citi Double Cash Card
The 2% flat rate rewards are a great way to maximize every dollar you spend, and the Wells Fargo Active Cash Card and Citi Double Cash Card excel in this category. But with its welcome bonus and larger 0% introductory offer, the Wells Fargo Active Cash card offers more value to most cardholders, especially the first year.
In addition to the 2% rewards, you can earn a $ 200 bonus if you spend at least $ 1,000 on purchases in the first three months, and the 15-month 0% introductory offer on this card is available on this card. extends to both new purchases and balance transfers. Neither card offers many additional perks, but Active Cash mobile phone protection (worth up to $ 600 against damage or theft) is another solid perk.
However, some people may find more value from Citi Double Cash. For example, if you consolidate debt, you’ll get an additional three months with this card’s 18-month introductory 0% APR on balance transfers. Or if you already have a Citi Travel Rewards Card, you might benefit more from the ability to transfer your money to Citi ThankYou Points.
Ultimately, either of these cards is a great choice. As 2% flat rate cash back cards with no annual fee, they even make great pairs for other cash back or rewards cards you might already have in your wallet. Before you apply, just be sure to compare all the cards you can qualify for with your spending habits, redemption preferences, and credit goals to find the card that’s right for you.
Editorial independence
As with all our credit card notice, our analysis is not influenced by any partnership or advertising relationship.
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