The best Wells Fargo credit cards of 2020
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Wells Fargo is often overlooked when it comes to their lineup of credit cards. However, Wells Fargo has added several cards to its portfolio in recent years that are definitely worthy of consideration. These are some of the best cash back credit cards that aren’t flashy and don’t come with huge premium perks but are excellent for its earning potential and ease of use.
The best Wells Fargo credit cards of 2020
- Wells Fargo Visa Signature® card: Best for travel rewards
- Wells Fargo Propel American Express® card: Best for cash back earning
- Wells Fargo Cash Wise Visa® card: Best for everyday spend
The information related to the Wells Fargo Visa Signature card, Wells Fargo Propel American Express card, and Wells Fargo Cash Wise Visa card have been collected by The Points Guy and has not been reviewed or provided by the issuer or provider of this product or service.
All Wells Fargo cards have no annual fee and a straightforward earning and redemption structure. Simplicity has its benefits. A fixed-value point card means you know exactly how much you’re earning and exactly how much those points are worth when you redeem. That’s fantastic, especially if you’ve ever found yourself frustrated at the lack of award availability or confused by transferring points to travel partners.
Related reading: Best airline credit cards
Even better but routinely ignored, you can redeem Wells Fargo Go Far Rewards for up to 1.75 cents per point toward paid airfare. Let’s go through the best Wells Fargo credit cards and why you might want one or two in your wallet.
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Comparing the best Wells Fargo credit cards
Here’s a quick snapshot at how the best Wells Fargo cards stack up against each other.
|Credit Card||Best for||key perks and benefits||Welcome bonus|
|Wells Fargo Visa Signature® card||Travel rewards and airfare||Redeem points for 1.5 cents each toward purchased airfare (becomes 1.75 cents if you spend $50,000/year on the card).||Earn 5x points on up to $12,500 spent on gas, grocery, and drugstore purchases for the first six months|
|Wells Fargo Propel American Express® card||Cash-back earning categories||3x points for restaurants, gas, ride-hailing, transit, flights, hotels, homestays, car rentals and streaming services||20,000 bonus points after spending $1,000 in your first three months from account opening|
|Wells Fargo Cash Wise Visa® card||Everyday spending||Earn unlimited 1.5% cash rewards on everyday purchases||$150 cash back after spending $500 in your first three months from account opening|
Details of the best Wells Fargo credit cards
As mentioned, none of these Wells Fargo cards have an annual fee. All Wells Fargo general rewards cards are part of the Go Far Rewards program. These cards earn one point per net dollar on all purchases and up to five points on bonus categories.
Now let’s take a closer look at each of these cards.
Sign-up Bonus: In lieu of a traditional sign-up bonus, new cardholders can earn 5x points on up to $12,500 spent on gas, grocery, and drugstore purchases for the first six months.
Annual Fee: $0
Benefits/Perks: Beyond the bonus of 5x points for up to $12,500 spent on gas, grocery, and drugstore purchases for the first six months, you’ll earn 1x points on other purchases. Plus, you have five years to use the points you earn. Earn 50% more value when redeemed for airfare (for example, 20,000 points is worth $300 toward airfare or $200 for cash redemption). However, after the six-month intro period, the card only earns 1 point per dollar spent on all purchases.
Related reading: Best credit cards for groceries
The card comes with trip-cancellation protection, lost luggage reimbursement, travel accident insurance, auto rental collision coverage, roadside dispatch and 24/7 travel and emergency assistance when you use it to pay for airfare. It also comes with access to hotel benefits through the Visa Signature Luxury Hotel Collection and concierge service. Additionally, the Wells Fargo Visa Signature Card provides supplementary insurance for your cellphone when you use it to pay your monthly bill, plus purchase security, price protection and extended warranty.
Related reading: Visa Signature benefits
Why we really like this card: The real benefit of this card is the ability to redeem Go Far Rewards points for 1.5 cents apiece toward purchased airfare through the Go Far Rewards travel portal. and if you spend $50,000 a year on the card, you can redeem points for 1.75 cents each toward paid airfare. Because you earn points for the first six months at a 5x rate in the bonus spending categories, you’re getting at least 7.5% cash back toward airfare for spending in those categories in that time frame.
Pro-Tip: Go Far Rewards earned with other Wells Fargo credit cards can only be redeemed for 1 cent per point toward paid airfare. However, once you carry the Wells Fargo Visa Signature Card, you have the ability to redeem all your Go Far Rewards points — including those earned with other Wells Fargo credit cards — for 1.5-1.75 cents each toward airfare. The Visa Signature card does not have an annual fee, so keeping it in my wallet every year is an easy decision.
Related reading: Best cash back credit cards
Sign-up Bonus: 20,000 bonus points when you spend $1,000 in purchases in the first three months.
Annual Fee: $0
Benefits/Perks: Earn 3x points for eating out and ordering in, gas, ride-hailing, transit, flights, hotels, homestays, car rentals and streaming services. Earn 1x points on everything else. Redeem points in the Go Far Rewards portal for travel, gift cards and merchandise. You can also redeem your points for cash, as well as donate, transfer and gift them.
Related reading: Best travel credit cards
The card comes with lost-luggage reimbursement, car rental loss and damage insurance, roadside assistance and 24/7 travel and emergency assistance. It also comes with cellphone protection, purchase protection and an extended warranty.
Related reading: The best credit cards for dining out, taking out and ordering in
Why we really like this card: The 3x bonus categories — travel, dining, gas stations and popular streaming services — are well-suited to people who are looking to maximize rewards from common everyday purchases. The latter two are especially interesting because you won’t find them on most other credit cards (especially ones with no annual fee) and you’ll reap rewards on them every month. Plus, as we mentioned above, if you combine this card with the Wells Fargo Visa Signature Card, you can really maximize your airfare redemptions.
Related reading: FAQs about the Wells Fargo Propel Amex
Sign-up Bonus: $150 cash bonus when you spend $500 in purchases in the first three months.
Annual Fee: $0
Benefits/Perks: Earn unlimited 1.5% cash rewards on everyday net purchases, and 1.8% cash back on qualified digital wallet purchases (such as Google Pay and Apple Pay) during the first 12 months from account opening. Cash redemption options include direct deposit into your Wells Fargo savings or checking account, statement credits applied to your qualifying Wells Fargo card, or cash redemption at Wells Fargo ATMs in $20 increments. Despite its low rewards, the card does come with cellphone protection and auto rental collision damage insurance.
Why we really like this card: This card is a no-frills pick for earning 1.5% cash back. The easy cash redemption from Wells Fargo ATMs makes for a neat perk too. It’s currently offering a sign-up bonus, but also consider cards such as the Chase Freedom Unlimited or cards with a flat 2% cash-back option such as the Citi® Double Cash Card (1% when you buy plus 1% when you pay).
Which Wells Fargo card makes sense for you?
If you rack up a lot of annual credit card spending, you can redeem Go Far Rewards for 1.75 cents each toward paid airfare after spending $50,000 on the Visa Signature Card. Once you add on the uncapped 5x bonus spend for the first six months with the Visa Signature card and bonus spending categories for the Propel cards, it makes a case for having the Wells Fargo Visa Signature Card and a Wells Fargo Propel American Express card together in your wallet.
But if you’re interested in having a cash-back card with a few perks, the Wells Fargo Cash Wise Visa card is a solid option.
Do any Wells Fargo cards have an annual fee?
No, there is no annual fee for any Wells Fargo consumer credit card. This makes these cards perfect for beginners who aren’t ready to commit to a more expensive premium card or who may not feel as comfortable redeeming transferable points.
How can I redeem Wells Fargo rewards?
Wells Fargo rewards points can be earned without limit but expire five years after you earn them. When it comes time to redeem your points, the scheme is simple: Every point is worth 1 cent toward travel, cash back, merchandise or gift cards.
And if you’re an advanced credit card user, you can get even more value from your points by combining the Wells Fargo Visa Signature Card and the Wells Fargo Propel American Express. You’re allowed to pool points between Wells Fargo cards, so if the Wells Fargo Visa Signature Card is one of them, you can redeem your points for 1.5 cents each toward the cost of airfare. That rate goes up even higher to 1.75 cents per point if you spend $50,000 in a calendar year on the Visa Signature.
What are the application rules for Wells Fargo cards?
Wells Fargo only allows you to earn one sign-up bonus every 15 months across all its credit cards. That means that you can get two cards, but you’ll only be able to get one sign-up bonus unless you wait 15 months between the applications. The Wells Fargo Visa Signature doesn’t have a typical sign-up bonus, but instead offers 5x points per dollar for up to $12,500 spent on gas stations, grocery and drugstore purchases for the first six months you have the card.
Related reading: The ultimate guide to credit card application restrictions
They fly under the radar, but our favorite Wells Fargo credit cards can make a lot of sense for most consumers. From lucrative bonus categories to incentives for booking airfare to ease of redeeming rewards, these cards should be on your consideration list. Wells Fargo cards provide simple rewards with some serious potential.
Additional reporting by Richard Kerr.
Featured photo by Eric Helgas for The Points Guy
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