Want Extra Money for Summer Travel? This Card Has a Fast Pay Out

With this year’s summer travel season only months away, there’s not a lot of time left to save for your trips. Luckily, you can still increase your vacation fund by applying for the Wells Fargo Active Cash® Card. It lets you earn a $200 cash rewards welcome bonus after you spend just $500 in purchases within three months of account opening.

So long as you can pay off your balance on time and in full every month, the Active Cash card is among the best credit cards to help you cover the last-minute costs of summer travel. Here’s what to consider before applying.

How the Wells Fargo Active Cash can help with summer travel costs

The Wells Fargo Active Cash is among easier-to-earn credit card welcome bonuses. A welcome bonus pays out extra rewards beyond what you earn with the card for normal spending once you reach a specified spending threshold set by the credit card issuer.

With its low $500 spending requirement in the first three months of account opening, you could likely earn that by putting a month of your grocery and gas spending on the card. Once you’ve met that requirement, you’ll have an extra $200 in cash rewards to put toward any upcoming trips. 

And the welcome bonus isn’t the only way the Active Cash card can help you save on summer travel. It’s also one of the best flat-rate rewards cards, letting you earn 2% cash rewards on purchases — including your hotel, airfare, rental car or any other travel expense. Plus, there’s no annual fee.

New cardholders can also benefit from the card’s introductory APR offer for purchases and balance transfers, which is ideal for debt consolidation or paying down large purchases, like plane tickets.

The intro 0% APR on purchases and qualifying balance transfers lasts for 15 months from account opening (then 20.24%, 25.24% or 29.99% variable). If you’re making a big purchase, plan out your payment schedule ahead of time so you can avoid incurring interest charges when the intro APR period ends.

How to earn the Wells Fargo Active Cash welcome bonus

Making a plan before you apply for a card can help ensure you earn the welcome bonus without falling into credit card debt:

1. Plan your spending based on your budget. Knowing which purchases you can put on your card ahead of time can help you avoid overspending to reach the bonus. 
2. Use your card for regular spending and bills. Charge all your regular expenses to your card to earn the bonus faster. Consider using plastic to pay for subscriptions and insurance premiums in addition to everyday expenses like groceries and gas. But watch out for credit card convenience fees that can add to your bill.
3. Closely track your spending on the card. Missing the spending requirement by even $1 would cause you to miss out on the bonus offer.
4. Wait for the bonus points to show up in your account. Most credit card welcome offers show up in your account after your next statement closing date. However, some bonuses can take six to eight weeks to show up in your account.

How to apply for the Wells Fargo Active Cash

Before applying, it’s a smart idea to make sure the Wells Fargo Active Cash is a good fit for you. 

1. Check for prequalification. Finding out if you prequalify can give you an idea of your approval chances without damaging your credit score.
2. Calculate if you can earn the bonus with regular spending. To earn the bonus, you’ll need to spend $500 within three months of account opening. That works out to $167 in purchases every month for three consecutive months. Although it’s a relatively low threshold, avoid overspending to reach it.
3. Make sure the card is a good fit for the long term. While the Active Cash’s welcome bonus may be attractive, you shouldn’t get a credit card simply for its welcome bonus. Applying for a credit card requires a hard inquiry that may temporarily hurt your score, so it’s important that you can get long-term value from the card’s other features, too. 
4. Read the fine print. It helps to know exactly how much time you have to meet the spending requirement. Typically, the timeline to earn a bonus starts on the day you get approved for a card instead of the day it arrives in the mail. 
5. Submit your application. If you think the card offers the right benefits for you, you can apply for the new credit card and wait for it to arrive in the mail. Some credit cards also offer virtual card numbers that let you use them before the physical credit card arrives at your home.

What to do with your welcome bonus

How to spend your welcome bonus is a personal decision. Because the Active Cash is a cash-rewards credit card, you can redeem rewards for statement credits, gift cards or cash redemption at an ATM (available in $20 increments when you use your Wells Fargo ATM or debit card). 

Alternatives to the Wells Fargo Active Cash

The Active Cash isn’t a travel card. While it earns rewards for your travel purchases, it’s missing a lot of things that come standard with travel cards, including point transfers and travel-centric perks and protections. 

If you want to earn travel-specific rewards like points or miles, the best travel credit cards typically offer additional perks and travel protections, although some charge an annual fee. However, unlike the Active Cash, many don’t charge foreign transaction fees, which could make them better options if you’re planning to travel internationally.

Some of the best credit cards with welcome bonuses offer larger payouts (and taller spending requirements) than what’s offered by the Active Cash.