Wells Fargo Signify Business Cash Card review: Worth considering for cash-rewards-focused businesses
Editor's Note
Wells Fargo Signify Business Cash Card overview
The Wells Fargo Signify Business Cash® Card (see rates and fees) has no annual fee and earns a flat 2% cash rewards rate on purchases, making it a solid choice for businesses looking for simplicity. However, it doesn't offer bonus categories or ways to maximize redemptions, so those who want more perks will need to look elsewhere. Card rating*: ⭐⭐⭐
*Card rating is based on the opinion of TPG's editors and is not influenced by the card issuer.
Here at TPG, we often discuss the benefits of opening a travel rewards business credit card. If your business is in the cash rewards market instead, the Wells Fargo Signify Business Cash may be right for you.
This card follows the trend of many other cards in the market by offering a flat rewards rate rather than rewards in multiple bonus categories. That makes it a worthwhile option for businesses in need of a catch-all card.
If you're interested in applying for the no-annual-fee Wells Fargo Signify Business Cash, I recommend a credit score of 670 or higher.
Let's dive into the details of this card so that you can decide if it's right for your business.
Wells Fargo Signify Business Cash pros and cons
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Wells Fargo Signify Business Cash welcome offer
Currently, new Signify Business Cash cardholders can earn a $500 cash rewards bonus after spending $5,000 in the first three months of account opening.
That spending requirement is quite high for what you'll receive. I'm not impressed by this welcome offer, so I recommend waiting for a better one before applying for this card.
Related: The best welcome offers right now
Wells Fargo Signify Business Cash benefits
No-annual-fee cards typically don't come with a wide range of benefits, and the Signify Business Cash maintains this status quo.
You'll get benefits that are fairly standard with any rewards card, such as zero liability protection and account alerts. The business-oriented benefits of this card, including employee cards at no additional cost and the ability to track your employees' spending, are commonplace as well.
While none of those are exciting, I want to note two perks that caught my attention: a Priority Pass membership and travel accident insurance.
Before you get too excited, this card's Priority Pass membership is not the same as the Priority Pass Select membership offered by premium travel rewards cards. The membership you'll receive with the Signify Business Cash only grants you access to Priority Pass lounges; you'll still need to pay individual lounge visit fees.
Given that this card has no annual fee, I can't dock points for it lacking a meaningful Priority Pass membership. Still, this benefit isn't too useful if you hold any premium travel card that provides a complimentary Priority Pass Select membership.
As for the travel accident insurance, that's a nice perk to have on a card like this. When you purchase your airline or other common carrier ticket with your Signify Business Cash, you're protected for up to $250,000. Terms apply, so make sure to read your guide to benefits closely.
Additionally, cardholders receive MasterRental insurance coverage, which provides primarily rental car coverage when you pay for the entire rental with your card and decline the rental company's collision damage waiver.
Related: How to choose a credit card for airport lounge access
Earning cash rewards on the Wells Fargo Signify Business Cash
The Signify Business Cash keeps it simple when it comes to its earning scructure. There are no bonus categories to keep track of with this card. Instead, cardholders will earn a flat 2% back in cash rewards on purchases.
If your business makes a wide variety of purchases, a card like this makes sense to ensure you're getting a good return on your spending.
But if your business's expenses tend to fall into select categories, such as advertising and shipping supplies, a card that earns more rewards in those categories is a better option.
Redeeming cash rewards on the Wells Fargo Signify Business Cash
Just like earning, redeeming your cash rewards on the Signify Business Cash is simple.
You have three options for redeeming your rewards:
- Receive a statement credit
- Redeem for travel, such as for flights and car rentals
- Redeem for gift cards
I recommend redeeming your cash rewards for a statement credit for maximum simplicity and flexibility.
If you find that you frequently consider redeeming your Signify Business Cash cash rewards for travel, it may be worth opening a travel rewards card to get greater value from your rewards.
Related: Who qualifies for a business credit card?
Which cards compete with the Wells Fargo Signify Business Cash?
If the Signify Business Cash isn't quite what you're looking for, here are a few other options to consider:
- If you want to earn a transferable rewards currency: The Blue Business® Plus Credit Card from American Express earns 2 Membership Rewards points per dollar spent on every purchase (on up to your first $50,000 in spending each year, then 1 point per dollar thereafter). Membership Rewards points can be transferred to 21 airline and hotel partners for maximum value. To learn more, check out our full review of the Amex Blue Business Plus.
- If you want a Chase card: The Ink Business Unlimited® Credit Card (see rates and fees) earns a flat 1.5% cash back rate on all purchases. This card comes with greater travel and shopping protections than the Signify Business Cash for no annual fee. To learn more, check out our full review of the Ink Business Unlimited.
- If you want a card with a wide range of perks, The Capital One Venture X Business comes with perks like an annual $300 Capital One Travel credit when booked through Capital One Business Travel and access to over 1,300 airport lounges worldwide. It earns a whopping 10 miles per dollar spent on hotels and rental cars booked through Capital One Business Travel. You'll also earn 5 miles per dollar spent on flights and vacation rentals booked through Capital One Business Travel and 2 miles per dollar spent on all other purchases. To learn more, check out our full review of the Capital One Venture X Business.
For additional options, check out our picks for the best business credit cards.
Related: Is the Venture X Business worth the $395 annual fee?
Is the Wells Fargo Signify Business Cash worth it?
I recommend the Wells Fargo Signify Business Cash to any business owner who spends on a variety of categories each billing cycle and isn't invested in earning transferable rewards. If that doesn't describe you, I advise considering a credit card with defined bonus categories or travel-oriented benefits.
Bottom line
The Wells Fargo Signify Business Cash may not have the bells and whistles of premium-tier cards, but it offers enough to make it worth consideration. Cash rewards cards can be useful in the right hands, especially when they have as simple an earnings structure as this card.
Before applying, make sure you've considered all your options and how they weigh against your business's spending habits and financial needs.
Apply here: Wells Fargo Signify Business Cash
Related: Do I need a business to get a business credit card?
TPG featured card
at American Express's secure site
Terms & restrictions apply. See rates & fees.
| 4X | Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 4X | Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 5X | New! Earn 5X Membership Rewards® points on prepaid hotel stays booked through AmexTravel.com or the Amex Travel App. |
| 3X | Earn 3X Membership Rewards® points on flights booked through AmexTravel.com, the Amex Travel App, or purchased directly from airlines. |
| 2X | Earn 2X Membership Rewards® points on prepaid car rentals booked through AmexTravel.com or the Amex Travel App and cruises booked and paid through AmexTravel.com. |
| 1X | Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases. |
Pros
- Valuable dining and food-related credits
- Flexible rewards with airline and hotel transfer partners
- Multiple travel and purchase protections
- No foreign transaction fees
- Access to Amex Offers for additional savings (enrollment required)
Cons
- Not as useful for those living outside the U.S.
- Some may have trouble using Uber and other dining credits
- You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $8,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
- Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
- New! Earn 5X Membership Rewards® points on prepaid hotel stays booked through AmexTravel.com or the Amex Travel App.
- Earn 3X Membership Rewards® points on flights booked through AmexTravel.com, the Amex Travel App, or purchased directly from airlines.
- Earn 2X Membership Rewards® points on prepaid car rentals booked through AmexTravel.com or the Amex Travel App and cruises booked and paid through AmexTravel.com.
- Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
- Pay It® lets you tap in the American Express® App to quickly pay for small purchase amounts throughout the month and still earn rewards the way you usually do. Plan It® gives you the option to split up big purchases into equal monthly payments with a fixed fee. You’ll know upfront exactly how much you’ll pay.
- Updated! $120 Dining Credit: Earn up to a total of $10 in statement credits monthly when you pay with the Gold Card at Grubhub (including Seamless), Buffalo Wild Wings, Five Guys, The Cheesecake Factory, and Wonder. This can be an annual savings of up to $120. Enrollment required.
- $100 Resy Credit: Get up to $100 in statement credits each calendar year at over 10,000 qualifying U.S. Resy restaurants after you pay for eligible purchases with the American Express® Gold Card. That’s up to $50 in statement credits semi-annually. Enrollment required.
- $84 Dunkin' Credit: Earn up to $7 in monthly statement credits after you pay with the American Express® Gold Card at U.S. Dunkin’ locations. Enrollment required.
- $120 Uber Cash on Gold: Enjoy up to $120 in Uber Cash annually with your Gold Card. Just add your Card to your Uber account and you'll get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an Amex Card for your transaction.
- New! As an American Express® Gold Card Member, you can enjoy complimentary Hertz Five Star® Status. Enjoy benefits like skipping the counter at select locations, adding an additional driver at no additional cost*, and vehicle upgrades**. Benefit enrollment and Hertz Gold+ registration are required. *Additional drivers must meet standard rental qualifications and must be a spouse or domestic partner to qualify as complimentary. Other additional drivers subject to fees. **Benefits are subject to availability and vary by location. Additional Hertz program Terms and Conditions including age restrictions apply.
- Take advantage of a $100 credit towards eligible charges* at over 1,300 upscale hotels worldwide when you book The Hotel Collection through AmexTravel.com or the Amex Travel App **. *Eligible charges vary by property. **The Hotel Collection requires a two-night minimum stay.
- Book your travel through the Amex Travel App with added peace of mind – backed by American Express® service and support. Only for American Express® Card Members.
- Whenever you need us, we're here. Our Member Services team will ensure you are taken care of. From lost Card replacement to statement questions, we are available to help 24/7.
- No Foreign Transaction Fees.
- Annual Fee is $325.
- Terms Apply.