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Christine ran her own business developing and managing insurance and financial services. This stoked a passion for points and miles and she now has over 2 dozen credit cards and creates in-depth, deta...
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Wells Fargo was established in the mid-1800s during the San Francisco gold rush. Over the next 160 years, the financial institution continued to grow its banking and coast-to-coast delivery services nationwide. You might be familiar with its iconic stagecoach symbol that represents their history of owning and operating the largest stagecoach delivery operation in the world.
Fast forward to modern times and you’ll find that Wells Fargo plays a prominent role in providing banking and credit card solutions for every type of consumer. In the credit card arena, you’ll find cards that help you build your credit, reward-earning cards, and even no-annual-fee cards. They also offer a collection of business credit cards.
These Well Fargo business credit cards will be our focus today as we zero in on the cards’ earning potential, review redemption options, and find out which benefits come with having each specific card.
We’ll also get to the bottom line of whether a Wells Fargo business credit card could add value to your operation.
Why Your Business Needs a Business Credit Card
Regardless of the size of your business, a business credit card should be considered the minute you have any business income. Whether you’re selling items on eBay, offering childcare, or running a retail operation, any business can benefit from a business credit card.
Here are some of the reasons to consider one:
Separate business expenses from personal expenses
Allow employees to make purchases that can be tracked and managed
Earn rewards for your business purchases
Utilize the higher credit limits that business cards tend to have
Build your business credit history
Fund expansion and growth
Enjoy easier accounting at tax time
Document business expenses in case of an IRS audit
Utilize the business management tools that come with a business credit card
Securing a business credit card with Wells Fargo requires you to have a current relationship with the bank. An online checking or savings account can qualify or you can visit a local branch office to open an account and apply for a card.
Bottom Line: You’ll want to make sure you can pay off your business credit card each statement period as interest rates on business credit cards can be higher than personal cards and carrying a balance can be costly to your business’ bottom line.
Wells Fargo Business Credit Cards Overview
Wells Fargo business credit cards are designed to support specific businesses. Whether you’re just starting your business, building it to the next level, or operating a thriving operation, you’ll find a plausible card match.
Here’s a look at which businesses are best suited for each Wells Fargo business credit card:
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Card
Best For
Annual Fee
Wells Fargo Business Platinum Credit Card
Businesses that generate less than $2 million in sales and want a simple reward earning structure with multiple redemption options
$0 annual fee; up to 99 employee cards for no fee
Wells Fargo Business Elite Signature Credit Card
Businesses that generate $1 million or more in sales and want greater purchasing power, more reward earning potential, and added benefits
$0 the first year, then $125 per year; up to 200 employee cards for no additional fee
Wells Fargo Business Secured Credit Card
Businesses looking to establish or rebuild business credit history that want to earn rewards and have multiple redemption options
$25 per card; up to 10 cards per account
Bottom Line: Wells Fargo issues business credit cards that match up with specific types of businesses, including those just establishing business credit, businesses rebuilding their credit history, growing small businesses, and larger business operations.
The Value of a Welcome Bonus
When you are approved for a Wells Fargo Business Platinum card or the Wells Fargo Business Elite Signature card, you can register for the Wells Fargo Business Rewards program and select whether you’d like to earn cash-back or receive rewards points.
After meeting minimum spending requirements on your card within the first 3 months after card approval, you’ll receive either cash back or rewards points worth hundreds of dollars.
Welcome bonuses do vary but currently range between 50,000 and 100,000 points or $500-$1,000 in cash-back.
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CREDIT CARD
CARD INFO
The Wells Fargo Business Platinum Credit Card
New customer offer: Get a one-time $500 cash-back bonus or 50,000 points when you enroll in the Business Card Rewards Program and spend $3,000 in the first 3 months.
Earn either 1.5% cash-back on every $1 or earn 1 point on every $1, plus a 1,000 bonus point when your company spends $1,000 or more in any monthly billing period.
Annual Fee: $0
Wells Fargo Business Elite Signature Credit Card
New customer offer: Get a one-time $1,000 cash-back bonus or 100,000 points when you spend $15,000 in the first 3 months.
Earn either 1.5% cash-back on every $1 or earn 1 point on every $1, plus a 5,000 bonus point when your company spends $10,000 or more in any monthly billing period.
Annual Fee: $0 for the first year, then $125
Wells Fargo Business Secured Credit Card
Earn either 1.5% cash-back on every $1 or earn 1 point on every $1, plus a 1,000 bonus point when your company spends $1,000 or more in any monthly billing period.
Credit Line: $500 to $25,000
Annual Fee: $25 per card
Earning Potential
Each Wells Fargo business credit card offers a simple earning structure that allows you to select to earn either cash-back or rewards points when spending on your card.
There is no limit on the amount of cash-back or rewards points you can earn.
Here’s how earnings compare with each business credit card.
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Card
Everyday Earning
Additional Earning Potential
Wells Fargo Business Platinum card
Choose 1.5% cash-back on every purchase OR 1 point per dollar spent
When selecting to earn points, you’ll receive 1,000 bonus points each statement period your business spends $1,000 or more on the card
Wells Fargo Business Elite Signature card
Choose 1.5% cash-back on every purchase OR 1 point per dollar spent
When selecting to earn points, you’ll receive 5,000 bonus points each statement period your business spends $10,000 or more on the card
Wells Fargo Business Secured card
Choose 1.5% cash-back on every purchase OR 1 point per dollar spent
When selecting to earn points, you’ll receive 1,000 bonus points each statement period your business spends $1,000 or more on the card
Additional cash-back or rewards points can be earned by using your Wells Fargo business credit card for shopping at the Earn More Mall® shopping portal.
Bottom Line: Every Wells Fargo business credit card earns bonus points each statement period when required spending tiers are reached.
Redeeming Rewards
The Wells Fargo Business Rewards program allows you to redeem points earned on any of its business credit cards. When you initially enroll in the program, you select whether you want to earn cash-back or reward points.
For the Wells Fargo Business Platinum card and the Wells Fargo Secured card, there is no fee for joining the rewards program. For the Wells Fargo Business Elite Signature card, the annual fee is $75.
If you select cash-back, it will be deposited into your Wells Fargo bank account quarterly.
If you choose to earn rewards points, you can redeem these points for any of the following:
Generally, points are worth 1 cent each but there can be specials where your points may be worth more, such as gift card promotions. Some redemptions could yield less than 1 cent in value per point.
Also, note that the Wells Fargo Business Rewards program is different from the Go Far Rewards program offered on Wells Fargo’s personal credit cards.
Travel and Shopping Benefits and Protections
Travel Benefits and Protections
The Wells Fargo Business Elite Signature card is the only card of the 3 that comes with travel benefits and protections.
Visa Signature Luxury Hotel Collection — receive benefits such as room upgrades, VIP guest status, complimentary breakfast, free Wi-Fi, and a $25 food/beverage voucher
Auto Rental Collision Damage Waiver — primary car rental insurance outside your country of residence and secondary within your country of residence for collision and theft
Travel and Emergency Assistance Services — a 24/7 resource for emergency assistance during your travels
Travel Accident Insurance – up to $250,000 in the event of a covered severe injury or death involving a common carrier
Shopping Protections
Visa Purchase Security repairs or replaces eligible items purchased with your card when they are lost, stolen, or accidentally damaged (available on the Wells Fargo Business Platinum card and the Wells Fargo Business Elite Signature card).
Visa Extended Warranty extends the manufacturer’s warranty on eligible items purchased with your card for 1 additional year (available only on the Wells Fargo Business Elite Signature card).
Bottom Line: The Wells Fargo Business Elite Signature card is the only Wells Fargo business credit card that offers a collection of travel benefits and protections as well as shopping protections.
Wells Fargo Business Credit Cards Summary
The Wells Fargo business credit card offerings are few, but each card offers very different levels of features and benefits.
Let’s review each of the available business cards with this side by side comparison.
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Feature or Benefit
Wells Fargo Business Platinum Card
Wells Fargo Business Elite Visa Signature Card
Wells Fargo Business Secured Card
Welcome Bonus
Yes
Yes
No
Earning
Choice of 1.5% cash-back or 1 point/$1 spent with opportunity for 1,000 bonus points for spending $1,000 or more each statement period
Choice of 1.5% cash-back or 1 point/$1 spent with opportunity for 5,000 bonuspoints for spending $10,000 or more each statement period
Choice of 1.5% cash-back or 1 point/$1 spent with opportunity for 1,000 bonus points for spending $1,000 or more each statement period
Rewards Program Fee
$0 to participate, $24 processing fee for each airline ticket
$75 to participate, $24 processing fee for each airline ticket
$0 to participate, $24 processing fee for each airline ticket
Redemption Options
Cash-back or redeem for travel, gift cards, merchandise, annual fee, 10% rebate on non-call center point redemptions
Cash-back or redeem for travel, gift cards, merchandise, annual fee, 10% rebate on non-call center point redemptions
Cash-back or redeem for travel, gift cards, merchandise, annual fee, 10% rebate on non-call center point redemptions
Business Attributes
Businesses with under $2 million in sales
Businesses with over $1 million in sales
Businesses with little or no credit or poor credit
Credit Limit
Not specified in advance
Not specified in advance
Based on security deposit, maximum of $25,000
Foreign Transaction Fees
None
None
None
Annual Fee
$0 annual fee
$0 annual fee the first year, then $125/year
$25 for each card each year
Employee Cards
Up to 99 employee cards for no additional fee
Up to 200 employee cards for no additional fee
$25 for each employee card per year
Statement Credits
None
$100 for travel incidental purchases
None
Travel Benefits/Protections
None
Trip interruption/cancellation/delay, lost luggage, travel accident insurance, auto rental insurance, travel accident assistance, Luxury Hotel Collection benefits
None
Shopping Protections
Purchase Security
Purchase Security, extended warranty
None
Everything Else You Need to Know
All Wells Fargo business credit cards offer business management tools including online account management, zero liability for unauthorized charges, and fraud monitoring.
If you have no current business credit history, your personal credit history will be used to determine card eligibility. Wells Fargo does not report the activity on your business credit card to personal credit bureaus. It reports activity monthly to the Small Business Financial Exchange business credit bureau.
Hot Tip: Wells Fargo business credit cards allow you to manage employee cards by setting up spending limits and assigning approved spending categories for each card. You can also monitor transactions and establish customized alerts.
Alternative Business Credit Cards
If you have a current relationship with Wells Fargo and feel compelled to try one of their business credit card offerings, choose wisely. It may make sense if your business has no credit history, or less than perfect credit, to leverage your relationship and get the Wells Fargo Business Secured card. It could serve as a foundation for earning rewards and building your business credit until you can qualify for a much more rewarding business credit card.
With that said, there are better business credit cards available, including those that do not charge a fee to utilize their rewards program, unlike the Wells Fargo Business Elite Signature card.
Here are a few alternatives with strong earning potential, flexible redemption options, and stellar travel and shopping benefits/protections.
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.
The Ink Business Preferred card is hard to beat, with a huge welcome bonus offer and 3x points per $1 on the first $150,000 in so many business categories.
The Ink Business Preferred card is hard to beat, with a huge welcome bonus offer and 3x points per $1 on the first $150,000 in so many business categories.
Earn 100,000 bonus points after you spend $8,000 on purchases in the first 3 months from account opening. That's $1,000 cash-back or $1,250 toward travel when redeemed through Chase Ultimate Rewards.
100,000 points
$2,000
$95
Upgraded Points credit ranges are a variation of FICO®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.
Good to Excellent (670-850)
The Ink Business Preferred® Credit Card is a powerhouse for earning lots of points from your business purchases, especially for business owners that spend regularly on ads.
Plus the card offers flexible redemption options, including access to Chase airline and hotel transfer partners where you can achieve outsized value.
Business owners will also love the protections the card provides like excellent cell phone insurance, rental car insurance, purchase protection, and more.
Pros
3x Ultimate Rewards points per $1 on up to $150,000 in combined purchases on internet, cable and phone services, shipping expenses, travel, and ads purchased with search engines or social media sites
Cell phone protection
Purchase protection
Trip cancellation and interruption insurance
Rental car insurance
Extended warranty coverage
Cons
No elite travel benefits like airport lounge access
Earn 100k bonus points after you spend $8,000 on purchases in the first 3 months from account opening. That's $1,000 cash back or $1,250 toward travel when redeemed through Chase Ultimate Rewards®
Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year. Earn 1 point per $1 on all other purchases
Round-the-clock monitoring for unusual credit card purchases
With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
Redeem points for cash back, gift cards, travel and more - your points don't expire as long as your account is open
Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards®
Purchase Protection covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
With a generous welcome bonus, lower annual fee, and 3x earnings on all your common business expenses, the Ink Business Preferred card comes with great benefits and is one of our favorite picks.
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.
This card is ideal for business travelers who enjoy luxury travel and are looking for a card loaded with benefits!
This card is ideal for business travelers who enjoy luxury travel and are looking for a card loaded with benefits!
Earn 120,000 Membership Rewards® points after you spend $15,000 on eligible purchases with your Card within the first 3 months of Card Membership.
120,000 points
$2,640
$695
19.49% - 27.49% Variable
Upgraded Points credit ranges are a variation of FICO®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.
When you factor in the large number of perks that the card offers like the best airport lounge access at over 1,400 lounges, along with tons of annual credits, it’s easy to see why this card can is a top option for frequent traveling business owners.
5x Membership Rewards points per $1 on flights and prepaid hotels at Amex Travel
Up to $200 annual airline fee credit on your selected qualifying airline
Statement credits on select purchases with your card
35% airline bonus when using Pay With Points (up to 1,000,000 bonus points per calendar year)
Access to over 1,400 worldwide airport lounges as part of the American Express Global Lounge Collection
Global Entry or TSA PreCheck application fee credit
Get 50% more Membership Rewards points (1.5 points per $1) on eligible purchases in key business categories, as well as on purchases of $5,000 or more (cap applies)
Airline fee credit does not cover airfare, only incidentals like checked bags
Welcome Offer: Earn 120,000 Membership Rewards® points after you spend $15,000 on eligible purchases with your Card within the first 3 months of Card Membership.
5X Membership Rewards® points on flights and prepaid hotels on AmexTravel.com, and 1X points for each dollar you spend on eligible purchases.
Earn 1.5X points (that’s an extra half point per dollar) on each eligible purchase at US construction material, hardware suppliers, electronic goods retailers, and software & cloud system providers, and shipping providers, as well as on purchases of $5,000 or more everywhere else, on up to $2 million of these purchases per calendar year.
Unlock over $1,000 in annual statement credits on a curation of business purchases, including select purchases made with Dell Technologies, Indeed, Adobe, and U.S. wireless service providers.
$200 Airline Fee Credit: Get up to $200 in statement credits per calendar year for incidental fees charged by your one selected, qualifying airline to your Card.
$189 CLEAR® Plus Credit: Use your card and get up to $189 in statement credits per calendar year on your CLEAR® Plus Membership (subject to auto-renewal) when you use your Business Platinum Card®.
The American Express Global Lounge Collection® can provide an escape at the airport. With complimentary access to more than 1,400 airport lounges across 140 countries and counting, you have more airport lounge options than any other credit card issuer on the market as of 03/2023.
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.
This card offers great rewards and no annual fee. Any new business owner that needs to get going will enjoy this card.
This card offers great rewards and no annual fee. Any new business owner that needs to get going will enjoy this card.
Earn $900 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening
$900
$900
$0
0% intro APR on purchases for 12 months; 18.49% - 24.49% variable thereafter.
Upgraded Points credit ranges are a variation of FICO®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.
Good to Excellent (670-850)
The Ink Business Cash® Credit Card has a lot going for it that makes it a compelling choice for small business owners. The card features a very lucrative 5% back on up to $25,000 spent in combined purchases at office supply stores and on cellular phone, landline, internet, and cable TV services each account anniversary year.
When you factor in that the card has no annual fee, and 0% intro APR on purchases for 12 months; variable 18.49% - 24.49% thereafter, you could be adding big value back into your business for no cost out of pocket.
Pros
Earn 5% back on up to $25,000 spent in combined purchases at office supply stores and on cellular phone, landline, internet, and cable TV services each account anniversary year
Earn 2% back on up to $25,000 spent in combined purchases at gas stations and restaurants, and 1% back on all other purchases
Travel insurance and purchase protection
0% intro APR on purchases for 12 months; variable 18.49% - 24.49% thereafter
Employee cards at no additional cost
No annual fee
Cons
Spending caps in bonus categories
Low points earning outside of bonus categories
3% foreign transaction fees
Earn $900 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening
Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year
Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other purchases
Round-the-clock monitoring for unusual credit card purchases
With Zero Liability you won’t be held responsible for unauthorized charges made with your card or account information.
No Annual Fee
Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
0% introductory APR for 12 months on purchases
Member FDIC
Financial Snapshot
APR: 0% intro APR on purchases for 12 months; 18.49% - 24.49% variable thereafter.
Foreign Transaction Fees: 3% of each transaction in U.S. dollars
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.
The Ink Business Unlimited card is a stellar option for business owners looking for a no-fuss uncapped 1.5% cash-back card without an annual fee.
The Ink Business Unlimited card is a stellar option for business owners looking for a no-fuss uncapped 1.5% cash-back card without an annual fee.
Earn $900 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening.
$900
$900
$0
0% intro APR on purchases for 12 months; variable 18.49% - 24.49% thereafter
Upgraded Points credit ranges are a variation of FICO®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.
Good to Excellent (670-850)
As a business owner, you likely keep pretty busy and probably prefer a credit card that just keeps things simple.
If so, the Ink Business Unlimited® Credit Card might be just the card for you. From zero annual fee to a flat cash-back rate, the card is a no-frills option that you don’t have to think twice about.
Don’t forget too, 0% intro APR on purchases for 12 months; variable 18.49% - 24.49% thereafter
Pros
1.5% cash-back on all purchases
No annual fee
0% intro APR on purchases for 12 months; variable 18.49% - 24.49% thereafter
Employee cards at no additional cost
Earn flexible rewards
Cons
3% foreign transaction fee
Earn $900 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening
Earn unlimited 1.5% cash back on every purchase made for your business
No Annual Fee
Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
Earn rewards faster with employee cards at no additional cost. Set individual spending limits for greater control.
Round-the-clock monitoring for unusual credit card purchases
With Zero Liability you won’t be held responsible for unauthorized charges made with your card or account information.
0% introductory APR for 12 months on purchases
Member FDIC
Financial Snapshot
APR: 0% intro APR on purchases for 12 months; variable 18.49% - 24.49% thereafter
Foreign Transaction Fees: 3% of each transaction in U.S. dollars
Both cards earn valuable Ultimate Rewards points that can be redeemed for cash-back or travel at 1 cent per point. Points can also be transferred to a premium Chase credit card to receive up to 50% more in value when redeemed for travel.
Points held on premium Chase cards can also be transferred to Chase transfer partners where even greater potential value can be realized.
Overall, the Wells Fargo line up of business credit cards is not impressive. There are, however, a couple of situations where a business might find value in one of these cards.
First, the Wells Fargo Business Elite Signature card offers an excellent feature that allows a business owner to control and monitor the spending of their employees. You can set specific spending hours, categories of approved spending, and even transaction limits. This could be a valuable feature if you have a large employee base making purchases.
The other scenario, which we mentioned earlier, is that of a business with no credit or bad credit that has a current relationship with Wells Fargo and needs a business credit card. The Wells Fargo Business Secured card could be a logical option.
If you have good credit, however, there are plenty of business credit card options that provide more value.
For rates and fees of The Business Platinum Card® from American Express, click here.
Featured Image Credit: Kristina Blokhin via Adobe Stock
Frequently Asked Questions
Is a Wells Fargo business credit card worth it?
Wells Fargo business credit cards are designed for specific businesses and could be worth it if you have an existing relationship with Wells Fargo.
For example, the employee credit card management tools that are offered by the Wells Fargo Business Elite Signature card could make the card worth it for businesses that have a large number of employees making purchases. There is also no charge for up to 200 employee cards.
The Wells Fargo Business Secured card could be a logical step for a business with no credit or poor credit if that business has had a relationship with Wells Fargo.
If you have excellent credit however, you will find better business credit card alternatives that offer greater earnings and better value redemptions that also come with travel and shopping benefits/protections.
Can I have more than 1 Wells Fargo credit card?
Yes, you can have more than 1 credit card with Wells Fargo.
Your approval for an additional card will be based on your relationship with Wells Fargo bank, how long it has been since you opened a Wells Fargo credit card (normally it must be more than 6 months), and your credit history.
Do Wells Fargo Business Rewards points expire?
Yes. Points expire on November 30, 3 years after the year they are earned.
Expired points will not be reinstated.
Do I need a Wells Fargo bank account to get a Wells Fargo business credit card?
Yes, you will need an existing relationship with Wells Fargo in order to be considered for a Wells Fargo business credit card.
A Wells Fargo bank account you opened online can qualify for the Wells Fargo Business Platinum card but you may want to visit a banking branch for the Wells Fargo Business Secured card because it requires a bank account and a security deposit.
Also, the Wells Fargo Business Elite Signature card cannot be applied for online.
Christine ran her own business developing and managing insurance and financial services. This stoked a passion for points and miles and she now has over 2 dozen credit cards and creates in-depth, detailed content for UP.
This bonus value is an estimated valuation calculated by UP after analyzing redemption options, transfer partners, award availability and how much UP would pay to buy these points.
![The 3 Best Wells Fargo Business Credit Cards [Bonus, Earnings, and Benefits]](https://upgradedpoints.com/wp-content/uploads/2019/12/Wells-Fargo.jpeg?auto=webp&disable=upscale&width=1420&height=650&fit=crop)
