Credit cards are popular because they offer benefits and allow you to save when you know how to use them. In this category are plastics Chase Freedom Y Wells Fargo Cash Wise Visa, which give you money back every time you spend. Today we will compare them so that you better understand their differences.
What welcome bonus does each credit card offer?
For those who like signup bonus, these credit cards have what you are looking for. In the case of Chase Freedom, new account holders can get $ 200 off cash back if they spend at least $ 500 during the first 3 months after the plastic is approved.
Similarly, the Wells Fargo Cash Wise Visa also offers you a welcome bonus when you open this type of account. The bonus on this card is to give you $ 150 if you consume at least $ 500 within the first 3 months of being approved.
In addition, it includes cash back 1.8% for one year if you have Google Pay or Apple Pay payment apps enabled.
What are the benefits of Wells Fargo Cash Wise and Chase Freedom?
These credit cards are known to provide a number of benefits associated with cash back. For this reason, Wells Fargo Cash Wise gives you a cash back 1.5% on all purchases you do, which also includes special consumer categories.
Although this percentage does not vary, there is also no limit to the amount of money you can receive.
For example, if you spend an average of $ 1,325 per month, the total payback per year is $ 320. In addition, the rewards do not expire as long as you have the account open and receive other benefits, such as:
- Consumption notifications.
- Account protection through 24/7 fraud monitoring.
- Zero responsibility when you report any unauthorized operation in time.
- Rented car collision damage waiver, which gives you coverage in the event of a collision or theft.
- Protection of your smartphone up to $ 600 in case of damage or theft when you pay your account with any of the Wells Fargo credit cards.
- Plastic replacement or emergency cash advance, which you can request by calling the number printed on the back of the card.
On the other hand, the Chase Freedom credit card offers you a money back of the 5% on special categories of consumption that rotate every quarter. To receive this reward, you must activate the categories and it only applies up to $ 1,500 during each period.
For the rest of purchases you receive a 1% refund, regardless of the category.
Other of the featured benefits of this plastic are:
- Rewards do not expire as long as you have an active account.
- Protection in case of damage or theft, which applies for 120 days after making a payment. You can claim up to $ 500 within that time and a total of $ 5000 as long as the account exists.
- Automatic warranty extension, giving you an additional 1 year protection over that offered by the manufacturer in eligible warranties of 3 years or less.
How much do Wells Fargo Cash Wise and Chase Freedom cost?
The credit card Wells Fargo Cash Wise Visa It has no annual fee and offers you an initial APR of 0% for 15 months. When this grace period expires, the interest rate can be from 13.99 to 25.99% APR, the allocation of which depends on your credit history. It also includes other charges:
- Operations abroad: 3%.
- Returned or late payments: $ 37 each time.
- Cash advance: $ 10 or 5%, whichever is greater.
- Balance transfer: $ 5 or 3% (whichever is greater) of the amount within the first 3 months of opening the account. 5% after this period.
Also, the Chase Freedom credit card They also have no annual fee, it gives you an introductory APR of 0% for 15 months. At the end of this term, the interest rate changes to between 14.99 and 23.74% APR, which varies depending on your credit history. Other important positions look like this:
- Operations abroad: 3%.
- Returned or late payments: $ 39 each time.
- Cash advance: 5% or a minimum of $ 10.
- Balance transfer: 5% ($ 5 minimum) or 3% ($ 5 minimum if you do it during the first 60 days of opening the account).
How to redeem your rewards with each credit card
To redeem your Chase Freedom rewards, you can via the app, by phone or in person. You can choose between gift cards, travel vouchers and points to buy on Amazon.
With the Wells Fargo Cash Wise Visa you can redeem your cash back via tphone, smartphone, PC, ATM or at a branch. You can withdraw money from the ATM, make a direct deposit to your account, or pay to your principal balance on a mortgage or loan.