Choosing the proper bank card may be daunting — particularly if you’re a brand new credit score person. In case you’re able to earn bank card rewards, however don’t need to strategize over spending classes and reward charges, the Wells Fargo Lively Money® Card presents a simple path ahead.
This no-fuss choice bank card choice earns you limitless 2% money rewards on all of your purchases. It’s certainly one of CNET’s finest bank card picks, and certainly one of my favorites for a couple of causes.
Right here’s how I maximize the Wells Fargo Lively Money, and how one can get probably the most worth out of this bank card.
Why I selected the Lively Money Card
After faculty, I took a while to know how credit score and bank cards work. I used to be prepared to start out incomes rewards, however I didn’t need to lose sight of fine credit score habits. So I upgraded my faculty card to the Lively Money to start out incomes rewards the straightforward means: with a flat-rate cash-back bank card.
Flat-rate cash-back playing cards supply a set share of money again on purchases, in contrast to different playing cards that may supply increased or decrease charges by spending class. The Lively Money took the effort out of rewards technique — making it an easy strategy to assure money rewards on payments, groceries, fuel and extra.
Over time, my husband and I each used the Lively Money as a simple means to earn rewards and construct credit score. I added him as a certified person so he might reap the credit-building advantages of paying our invoice in full every month.
We added most payments and on a regular basis bills to this card — our son’s daycare invoice, family bills and even our marriage ceremony bills. After paying the invoice in full and on time every month, it earned us $200 in money rewards in six months. And since we knew we needed to journey for much less, we flipped the money rewards to make use of towards flights to economize.
Now that now we have the hold of use a bank card and earn rewards, we now use a journey bank card extra repeatedly. Utilizing the Lively Money helped me enhance my credit score to qualify for a card with higher rewards. We nonetheless use the Lively Money often, and it’s my longest-standing bank card.
Learn how to get probably the most out of your Lively Money
9.5/10
CNET Ranking
CNET charges bank cards by evaluating their presents to these of their categorical rivals. Every card is individually evaluated by a components which displays the requirements and expectations of the up to date market. Bank card issuers don’t have any say or affect in our rankings. How we charge bank cards
Intro Provide
$200 money rewards
Earn a $200 money rewards bonus after spending $500 in purchases within the first 3 months
Annual charge
$0
APR
19.99%, 24.99%, or 29.99% variable APR
Beneficial Credit score
A credit score rating is used to point an applicant’s credit score worthiness and will present steerage about account eligibility. It doesn’t essentially assure approval for any monetary product.
670 – 850
Good – Wonderful
Rewards charge
2%
Earn limitless 2% money rewards on purchases
2%
Earn limitless 2% money rewards on purchases
Right here’s benefit from all of the Lively Money has to supply primarily based on what I realized:
Earn the welcome bonus (should you can)
The Lively Money presents a $200 money rewards bonus after spending $500 in purchases inside the first three months. That’s roughly $167 in spending monthly. To earn the bonus, think about using the cardboard for purchases you’re already making, reminiscent of groceries, payments and different every day bills. Or time your utility for the cardboard round a giant, deliberate buy to earn the welcome bonus even simpler — reminiscent of patio furnishings or a fridge.
After all, you must by no means overspend merely to earn a welcome bonus — it’s not value it. However should you usually spend $167 monthly in meals or on a regular basis necessities, it might be a simple requirement to fulfill.
When you have one other Wells Fargo card, like the school card I had, as a substitute of upgrading, apply for this card. In case you improve, like I did, you usually aren’t eligible to earn a welcome bonus.
Maximize money rewards
The Lively Money is an efficient choose should you don’t desire a sophisticated bank card rewards technique with tiered or quarterly rewards since you may earn 2% money rewards again on purchases. However if you wish to enhance your rewards potential, take into account pairing this card with one other high-tier Wells Fargo bank card, just like the Wells Fargo Autograph℠ Card, to earn increased charges on eating places, journey, fuel stations, transit, in style streaming providers and cellphone plans. Use the Autograph Card for purchases that earn increased rewards and the Lively Money for every little thing else.
However you don’t have to stay to the Wells Fargo suite of playing cards. I now use my Chase Sapphire Most popular® Card for purchases that earn increased rewards charges, like journey by Chase Final Rewards, eating out and choose streaming providers, and my Lively Money to earn 2% money rewards on different purchases.
Repay bank card debt or a brand new buy
The Lively Money can even come in useful if you should repay a high-interest bank card steadiness or finance a giant buy. This card incorporates a 0% introductory APR interval for 15 months from account opening on new purchases and qualifying steadiness transfers, then a variable APR of 19.99%, 24.99% or 29.99%. You’ll nonetheless earn 2% money rewards, however do not forget that it’s essential to not tackle new debt whereas paying off excellent balances.
Pay your cellphone invoice with the cardboard
Despite the fact that cellphone insurance coverage is often a couple of bucks along with your supplier, the Lively Money presents as much as $600 in cellphone injury and theft safety after a $25 deductible. Cardholders could make two claims per 12 months, as much as a most of $1,200.
Meaning you may do away with your cellphone plan supplier’s insurance coverage with this card, which might prevent just a little in your cellphone invoice. Nonetheless, you’ll have to pay your cellphone invoice with the Lively Money card. I additionally schedule computerized funds every month for my cellphone invoice, which helps me save much more with AT&T’s autopay low cost.
Benefit from journey perks
The Lively Money comes with two Visa Signature journey advantages that may make journey straightforward — 24/7 concierge service and the Luxurious Lodge Assortment. Complimentary concierge service can come in useful when planning your journey, getting restaurant reservations and delivering items for a special day. Though the service is a cardholder perk, any further service or purchases come at a price.
And you should utilize the Visa Luxurious Lodge Assortment to select from a number of premium inns with advantages reminiscent of meals and beverage credit, charge ensures and room upgrades, when accessible. Whereas we haven’t used both perk but, we plan to make use of the concierge service for suggestions for an upcoming household trip to avoid wasting us time planning the journey.
Select from a wide range of redemption choices
I like that you’ve got a number of methods to redeem your money rewards with Wells Fargo. As an example, I could redeem my money rewards to pay much less on my bank card invoice — which looks like financial savings to my mind — by redeeming for assertion credit. Or I can redeem the rewards to my checking account as a direct deposit to pay for upcoming purchases like live performance tickets or to have additional money in my financial savings account.
It’s also possible to redeem the money rewards for purchases made with PayPal, for journey, charitable donations, merchandise. It’s also possible to redeem rewards for reward playing cards in $25 increments, and you may redeem rewards in $20 increments by way of a Wells Fargo debit card or ATM.
We by no means used the Wells Fargo Rewards portal to guide journey as a result of we discovered higher offers elsewhere, however we nonetheless use it to match charges; then guide the journey on the cardboard and redeem the money rewards as an announcement credit score to scale back the bank card invoice — basically paying for a portion of the journey.
Is the Lively Money a great match for you?
The Lively Money card is a powerful flat-rate bank card that makes it straightforward to earn rewards with out strategizing. In case you are seeking to maximize your rewards, there are higher playing cards on the market — however the Lively Money can complement different increased worth playing cards effectively. Whether or not you’re kick-starting your bank card rewards journey or studying about credit score altogether, this card can yield additional money and financial savings. Simply bear in mind to make use of the cardboard responsibly and pay it in full every month, or else you might be on the hook for hefty curiosity expenses.
Learn extra: Is Apple’s Excessive-Yield Financial savings Account Value It? See How It Compares
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