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.

The 3 Best Wells Fargo Business Credit Cards [2023 Updated]

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.

Table of contents

Why Your Business Needs a Business Credit Card
Wells Fargo Business Credit Cards Overview
The Value of a Welcome Bonus
Earning Potential
Redeeming Rewards
Travel and Shopping Benefits and Protections
- Travel Benefits and Protections
- Shopping Protections
Wells Fargo Business Credit Cards Summary
Everything Else You Need to Know
Alternative Business Credit Cards
Final Thoughts

Table of Contents

Why Your Business Needs a Business Credit Card
Wells Fargo Business Credit Cards Overview
The Value of a Welcome Bonus
Earning Potential
Redeeming Rewards
Travel and Shopping Benefits and Protections
- Travel Benefits and Protections
- Shopping Protections
Wells Fargo Business Credit Cards Summary
Everything Else You Need to Know
Alternative Business Credit Cards
Final Thoughts

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

Computer credit card phone — Regardless of the size of your business, you’ll benefit from having a business credit card. Image Credit: mrmohock via Shutterstock

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:

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.

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

Woman Running Shipping Business — Every purchase your business makes earns rewards on your Wells Fargo business credit card. Image Credit: Beer5020 via Shutterstock

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.

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:

Travel
Gift cards
Cash-back
Merchandise
Membership fee
Global Entry or TSA PreCheck application fee
Charitable donation

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

North Island a Luxury Collection Resort Seychelles Marriott — Enjoy elite-type benefits when you stay at Luxury Hotel Collection properties like Villa North Island Resort, Seychelles — a perk on the Wells Fargo Business Elite Signature card. Image Credit: Marriott

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
Trip Interruption and Cancellation — up to $2,500 per trip
Trip Delay Reimbursement Coverage — up to $300 per trip
Lost Luggage Coverage — up to $3,000 per trip
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.

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 bonus points 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

Couple Eating Breakfast Poolside — Earn on every purchase your business makes by selecting a business card that rewards your greatest business expenses. Image Credit: fokke baarssen via Shutterstock

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.

Ink Business Preferred® Credit Card

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 Business Platinum Card® from American Express

Hot Tip: Check to see if you’re eligible for a huge welcome bonus offer of up to 150,000 points with the Amex Business Platinum card! The current public offer is 120,000 points. (This targeted offer was independently researched and may not be available to all applicants.)

If your business involves travel, you’ll find value with the Amex Business Platinum card. With worldwide lounge access, hotel elite status, airline fee statement credits, and flexible reward redemption options, the card offers tremendous value for business travelers.

Ink Business Cash® Credit Card and Ink Business Unlimited® Credit Card

Depending on the mix of your greatest business spending categories, either the Ink Business Cash card or Ink Business Unlimited card offer a no-annual-fee business rewards-earning option.

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 airline and hotel partners where even greater potential value can be realized.

To learn more about the best available reward-earning business card options for your business operation, regardless of size, our review lists our top picks.

Final Thoughts

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.

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The 3 Best Wells Fargo Business Credit Cards [Bonus, Earnings, and Benefits]

Why Your Business Needs a Business Credit Card

Wells Fargo Business Credit Cards Overview

The Value of a Welcome Bonus

Earning Potential

Redeeming Rewards