Wells Fargo Rewards Program Guide
Some Wells Fargo credit cards will allow you to earn rewards points or cash back for each dollar that you spend. Although some credit card rewards programs can be confusing, the Wells Fargo Rewards program is very straightforward, since it has a redemption value of one cent per point.
Although it offers fewer travel benefits than other rewards programs, it still has many redemption options other than cash back. It’s essentially a simple, flexible option.
Wells Fargo Rewards cards
There are only two credit cards that will allow new cardholders to earn points or cash back with the Wells Fargo Rewards program.
The chart below highlights the differences between the Wells Fargo Autograph℠ Card and the Wells Fargo Active Cash® Card cards.
| Credit Card | Welcome Offer | Earning Rate | Intro APR on Purchases | Regular APR on Purchases | Annual Fee |
|---|---|---|---|---|---|
| Wells Fargo Autograph℠ Card | Earn 20,000 bonus points when you spend $1,000 in purchases in the first 3 months - that's a $200 cash redemption value. | Earn unlimited 3X points on restaurants, travel, gas stations, transit, popular streaming services and phone plans. Plus earn 1X points on other purchases | 0% intro APR for 12 months from account opening on purchases | 19.49%, 24.49%, or 29.49% Variable APR | $0 |
| Wells Fargo Active Cash® Card | Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months | Earn unlimited 2% cash rewards on purchases | ' 0% intro APR for 12 months from account opening | 19.49%, 24.49%, or 29.49% Variable APR | ' $0 |
Wells Fargo offers additional rewards credit cards through Choice Privileges® and Bilt Rewards. However, these co-branded credit cards earn points that are redeemable within their own separate rewards programs. The other Wells Fargo credit card, the Wells Fargo Reflect® Card, doesn’t offer any rewards.
Wells Fargo rewards comparison
Which of the two available Wells Fargo rewards credit cards is a better fit for you depends on your spending habits. Let’s say you charge $1,500 per month to your credit card:
Wells Fargo Active Cash® Card
- You can Earn unlimited 2% cash rewards on purchases made with the Wells Fargo Active Cash® Card, which means $1,500 in monthly purchases would get you $30 in cash back rewards
- Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months
Wells Fargo Autograph℠ Card
- If more than half of your monthly purchases fall under the 3X points category, you’ll earn more than you would with the Wells Fargo Active Cash® Card
- Earn 20,000 bonus points when you spend $1,000 in purchases in the first 3 months - that's a $200 cash redemption value.
Essentially, if you can meet the minimum spending requirements to get the larger credit card sign-up bonus, and you anticipate 50% or more of your purchases going to restaurants, travel, gas, transit, streaming services, and your phone plan, the Wells Fargo Autograph℠ Card card is probably the right fit for you.
If you’re worried about meeting the spending requirements to get the Wells Fargo Autograph℠ Card bonus, or you don’t think you’ll spend very much on the 3X points categories, the Wells Fargo Active Cash® Card may be a better choice.
What are Wells Fargo Rewards worth?
Figuring out how much cash you can earn with the Wells Fargo Active Cash® Card is simple since you earn a flat cash back rate.
With the Wells Fargo Autograph℠ Card, you actually earn “points” that can translate directly into cash. If you read the fine print, you’ll find that you earn 1 point for every $1 spent, or 3 points for every $1 spent in eligible bonus categories. Essentially, these rewards work as if you were earning 1% cash back on regular purchases and 3% cash back on eligible bonus category purchases.
Wells Fargo Business Rewards Cards
Although you can’t open a Wells Fargo business credit card right now, it used to offer a selection of business cards in the past. At the moment, the card issuer focuses its offerings on cash back and travel credit cards for consumers.
Wells Fargo is advertising that it is launching a new business card soon, although specific details have not been released yet.
How to redeem Wells Fargo credit card rewards
Wells Fargo credit card rewards are easy to understand, and there are several different options to choose from. And since all Wells Fargo cash rewards are worth the same amount (1 cent each), you don’t have to worry about getting more or less value based on how you redeem.
Essentially, you can redeem Wells Fargo credit card rewards for:
- Statement credits
- Merchandise
- Travel
- Gift cards
- Loan payments
- ATM withdrawals
Redeem for statement credits
Wells Fargo Rewards can be redeemed for statement credits on your account, which are then used to cover purchases you have made.
Keep in mind that you can only redeem rewards for statement credits for transactions of $1 or more, and that you have to have enough rewards to cover the entire amount of the transaction.
Shop with rewards
You can use Wells Fargo Rewards to shop for merchandise at select retailers, in which case you’ll use your rewards points or cash back at checkout. You can even use rewards to shop for deals with a selection of participating merchants.
You’ll need at least 100 points ($1) and must be able to pay for the whole purchase with rewards to shop with cash rewards from the Wells Fargo Active Cash® Card or Wells Fargo Autograph℠ Card.
Use rewards to travel
You can also use your rewards to pay for travel expenses through Wells Fargo, including car rentals, hotel stays, and flights.
Redeem for gift cards
Wells Fargo Rewards can also be redeemed for gift cards to various retailers, restaurants and merchants. If you want to redeem your rewards for a gift card, you can only redeem in multiples of $25 (for example, $25 or $50).
Make payments to Wells Fargo
If you’ve borrowed money from Wells Fargo, you can also redeem your rewards to make a payment. Rewards can be redeemed as payment toward a qualifying Wells Fargo mortgage, loan, or credit product. You can also make an account credit to a Wells Fargo checking account you have on file.
Withdraw cash from an ATM
Wells Fargo rewards credit cards also let you redeem rewards as a cash withdrawal through a Wells Fargo ATM. However, this redemption requires a minimum of $20, and you have to have a Wells Fargo debit card to use this option.
Frequently asked questions
Wells Fargo Rewards do not expire as long as the account remains open and in good standing.
The timeline for various Wells Fargo Rewards redemptions can vary. For example, you can redeem rewards almost instantaneously when you use points or cash back for merchandise at checkout. However, redemptions for statement credits to your account may not show up for five to seven days.
You can redeem cash rewards from Wells Fargo credit cards for options like statement credits, credits to eligible Wells Fargo loans, ATM withdrawals, gift cards, travel or merchandise.
While Wells Fargo once had an Earn More Mall that helped cardholders maximize rewards on purchases made with eligible merchants, this mall has been discontinued. However, the card issuer continues to offer some special promotions through the My Wells Fargo Deals program.
The information related to the Wells Fargo Autograph℠ Card, Wells Fargo Active Cash® Card and Wells Fargo Reflect® Card has been collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.
The content above is not provided by any issuer. Any opinions expressed are those of LendingTree alone and have not been reviewed, approved, or otherwise endorsed by any issuer. The offers and/or promotions mentioned above may have changed, expired, or are no longer available. Check the issuer's website for more details.