Wells Fargo offers several credit card options, but they differ significantly, making it confusing for some consumers to understand which one to choose. With things like APRs and rewards fluctuating from card to card, we break down the details of Wells Fargo’s best credit cards to help you find the right fit for your family or business.
How did we choose these products?
To help you choose a business credit card or a personal credit card, we consider several critical factors: After the introductory period, you receive unlimited 2% cash rewards on your purchases with no category or quarterly requirements. You can use your Wells Fargo Active Cash® Card to shop at popular stores like Costco and Walmart. For its purchase APR, Wells Fargo offers a tiered system for variable APRs: you will receive a 19.24%, 24.24%, or 29.24% rate. Plus, you get access to extra perks like travel bonuses. The Wells Fargo Active Cash® Card also includes extra Visa Signature® services, a complimentary concierge service to simplify your life.
Pros & cons
The introductory offer is almost as good as the regular rewards. New customers receive their choice of either a one-time $500 cashback reward or 50,000 rewards points after spending $15,000 within the first three months of having the card. The choices do not end there. With the Wells Fargo Business Elite Signature Card, you again have your choice of reward structure. You can either earn 1.5% cash back for every dollar spent, or you can choose to receive 1 point for every dollar spent, plus 5,000 bonus points for every billing period with $10,000 or more in purchases. Either way, the card comes with up to a $100 annual credit toward your travel incidental fee reimbursement.
Fees
The Wells Fargo Business Elite Signature Card’s fee schedule includes no annual fee for your first year with a $125 annual charge thereafter.
Pros & cons
$125 thereafter Otherwise, the Wells Fargo Business Platinum Credit Card receives a regular 1.5% cash back rate. For every dollar you spend, you also receive 1,000 bonus points for a minimum of $1,000 in eligible purchases. The Wells Fargo Business Platinum Credit Card offers a 0% introductory APR for the first nine months. To qualify, your business must have annual sales of $2 million or lower.
Pros & cons
Because it is a secured card, you first need to pay a deposit for the total line of credit. Wells Fargo allows you to load your card with anywhere from $500 to $25,000 credit line. Cashback rewards include 1.5% cash back on qualifying purchases. Plus, there are no annual or transaction fees to cut into your rewards. If you are looking for introductory rewards, however, you may want to look elsewhere. This card focuses on a recurring rewards structure. Overall, the Wells Fargo Business Secured Credit Card is a great pick when you want a business credit card for bad credit. To apply, you will need to call or go online, as paper applications are not accepted in Wells Fargo branches.
Fees
The Wells Fargo Business Secured Credit Card has an attractive fee schedule with no annual fee.
Pros & cons
Wells Fargo offers additional rewards when you first open your account. It will extend the introductory period for an additional three months when you make on-time payments throughout. After the introductory period, the APR reverts to a 17.24% to 29.24% variable APR.
Pros & cons
APR, both introductory and regularFees, such as an annual and transaction feeRewards and benefits, like points, travel, and concierge services Accessibility, service areas and customer serviceWelcome rewards, like intro APRs and cashback bonuses
Extra protections, like credit tools, lost luggage, travel, and car rental protections
Best starter credit cards for no creditBest small business credit cardBest travel rewards business credit card
