Article:

The Wells Fargo Active Cash® Card has become a popular choice for credit card users due to its attractive features, including a flat-rate 2% unlimited cash rewards on purchases and a $200 cash reward as a welcome bonus. However, qualifying for this card requires meeting certain criteria and maintaining a good credit score.

To be eligible for the Wells Fargo Active Cash Card, a credit score within the range of good to excellent is typically needed, which translates to at least 670 or higher according to the FICO® Score range. Meeting this credit score requirement increases the chances of approval. However, even with a satisfactory credit score, applicants may still face rejection due to specific factors considered by the issuer, Wells Fargo.

For instance, if an applicant has recently opened a Wells Fargo credit card within the last six months, their application may be restricted. Additionally, Wells Fargo may limit the number of credit cards an individual can have with them. While there are no explicit limits mentioned, restrictions are imposed.

To qualify for the $200 cash rewards bonus, applicants must spend at least $500 on purchases within three months of opening the card. It is important to note and meet the spending criteria to receive the cash reward.

In the event that an applicant's credit score falls below the required threshold, it is advisable to work on improving the credit score before applying. The payment history and credit utilization ratio are two crucial factors in determining a credit score. It is recommended to maintain a credit utilization ratio below 30%, such as spending less than $300 on a credit limit of $1,000. Making monthly payments on time and in full also helps to boost the credit score.

As an additional measure to enhance a credit score, applicants may consider using services like Experian Boost™. This service allows for the inclusion of payment activity that is typically not reported to the credit bureau, such as utility, telecom, and streaming service bills. By adding positive payment data to the credit file, applicants can potentially increase their credit score.

In conclusion, the Wells Fargo Active Cash Card offers appealing rewards and a welcome bonus with no annual fees. To ensure eligibility, a good to excellent credit score is typically required, along with meeting specific spending requirements. Applicants are advised to maintain a positive payment history, keep their credit utilization ratio in check, and explore options like Experian Boost™ to improve their credit score. By taking these steps, applicants can optimize their chances of being approved for the Wells Fargo Active Cash Card.

Disclaimer: This article is based on information provided by the issuer and does not contain input from commercial teams or outside third parties. The article follows high-quality service journalism and comprehensive consumer advice to help readers make informed financial decisions.