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Wells Fargo is a bank that does not use traditional banking methods. It’s been around for four centuries and has never failed to deliver on its promises, whether it be in the form of loans or card usage. This makes Wells Fargo one of the most trusted financial institutions in America. The company has also recently expanded into several other markets like insurance, asset management and more which can make their cards even more attractive than before..
The “wells fargo business platinum credit card” is a credit card that offers many benefits. It has no annual fee and provides rewards for every purchase.
Wells Fargo provides three kinds of business credit cards: one for businesses with a lot of workers, one with no annual cost, and one for establishing credit. These provide a 1.5 percent cash back rate as well as the opportunity to earn points. Business owners that don’t want their activity recorded to personal credit agencies will benefit from Wells Fargo credit cards.
The finest Wells Fargo business credit cards are as follows:
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Business Platinum Credit Card from Wells Fargo: Best for Zero a yearly fee & 0% Introductory APR
Business Platinum Credit Card from Wells Fargo
Our editorial team uses industry specialists to generate the scores for Fit Small Business. The kind of credit card (cash back or travel) as well as the card’s rates, fees, rewards, and other benefits like insurance are all taken into account in our grading methodology.
With no annual charge, you may choose between cash back or points incentives.
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APR on a regular basis
Variable 12.74 percent – 22.74 percent
- When you enlist in the Business Card Rewards Program and spend $3,000 within the first three months of account opening, you’ll get a one-time $500 cash back incentive or 50,000 bonus points; there’s no annual rewards charge.
- Get 1.5 percent cash back on every dollar you spend.
- Earn 1 point for every $1 spent, plus 1,000 additional points for each monthly billing period in which your firm spends $1,000 or more.
- There is no annual card cost, and you may have up to 99 employee cards (no additional fee)
- Instruments for managing money
- Online spending reports are accessible.
- Options for online banking and bill payment
Pros
- A fantastic welcome bonus package is available.
- Period of no interest funding
- Bonuses are given out on a regular basis if you fulfill your monthly spending goals.
Cons
- Low long-term incentives
- Fees for reclaiming airline tickets
- Points have a time limit.
- Purchase protection: Wells Fargo provides coverage for products bought that are damaged or stolen within 90 days of the date of purchase. The things may be repaired, replaced, or reimbursed. The amount of coverage is capped at $10,000 per item and $50,000 per year.
- Wells Fargo’s design studio lets you personalize your card by uploading a picture that reflects your business. The picture may be your company’s emblem or a shop, for example.
APR on a regular basis
Variable 12.74 percent – 22.74 percent
- When you enlist in the Business Card Rewards Program and spend $3,000 within the first three months of account opening, you’ll get a one-time $500 cash back incentive or 50,000 bonus points; there’s no annual rewards charge.
- Get 1.5 percent cash back on every dollar you spend.
- Earn 1 point for every $1 spent, plus 1,000 additional points for each monthly billing period in which your firm spends $1,000 or more.
- There is no annual card cost, and you may have up to 99 employee cards (no additional fee)
- Instruments for managing money
- Online spending reports are accessible.
- Options for online banking and bill payment
Pros
- A fantastic welcome bonus package is available.
- Period of no interest funding
- Bonuses are given out on a regular basis if you fulfill your monthly spending goals.
Cons
- Low long-term incentives
- Fees for reclaiming airline tickets
- Points have a time limit.
- Purchase protection: Wells Fargo provides coverage for products bought that are damaged or stolen within 90 days of the date of purchase. The things may be repaired, replaced, or reimbursed. The amount of coverage is capped at $10,000 per item and $50,000 per year.
- Wells Fargo’s design studio lets you personalize your card by uploading a picture that reflects your business. The picture may be your company’s emblem or a shop, for example.
Who is Business Platinum Credit Card from Wells Fargo Best For?
The Business Platinum Credit Card from Wells Fargo is best for owners who want to earn fixed-rate rewards without having to pay an a yearly fee. It offers a 0% introductory APR on purchases and balance transfers for the first nine months of opening an account as well as a sign-up bonus of $300 cash back or 30,000 points. The Business Platinum Credit Card from Wells Fargo is a revolving credit option for everyday business expenses that’s ideal for businesses with annual sales of up to $2 million and those that need up to 99 employee cards.
The Business Platinum Credit Card from Wells Fargo offers 1,000 bonus points when you spend $1,000 or more in any monthly billing period. This card is a good option if your company spends at least $1,000 but not more than $9,999 per month. If you have at least $10,000 monthly expenses, you may benefit more from Wells Fargo Business Elite Signature Card.
Business Platinum Credit Card from Wells Fargo Fees
- On purchases and debt transfers, the introductory APR is 0% for the first nine months.
- Variable APR ranging from prime rate + 7.99 percent to prime rate plus 17.99 percent.
- There is no annual cost.
- Fee for transferring funds: varies
- Fee for international transactions: Foreign transaction fee: $0
- Fee for cash advances is 4% of the amount borrowed, with a $10 minimum ($175 maximum). The prime rate + 20.74 percent is the cash advance APR.
Why We Like Business Platinum Credit Card from Wells Fargo
- This card has no a yearly fee and allows you to earn cash back or points rewards for any business-related transactions.
- 0% introductory APR: For the first nine months after establishing an account, you may enjoy interest-free financing on purchases and balance transfers.
- There are no international transaction fees with this card for transactions made outside of the United States.
- After spending at least $3,000 within the first three months after creating an account, you may get a one-time bonus of $300 or 30,000 points.
- Choice to get cash back or points rewards: You have the option to receive either cash back or points rewards. On qualified purchases, you may receive a set 1.5 percent cash back or one point every dollar.
- Bonus points: You may earn 1,000 bonus points per billing cycle if you spend at least $1,000 in a month if you wish to earn points.
- Up to 99 free employee cards: If you have workers, this is an excellent alternative since you may have up to 99 free employee cards.
What’s Missing From Business Platinum Credit Card from Wells Fargo
The 0% introductory APR period offered by the Business Platinum Credit Card from Wells Fargo, which is only for nine months, is shorter compared to most other small business credit cards. If you are looking for a longer 0% introductory rate period, consider any of the best 0% APR business credits cards.
Wells Fargo Business Elite Signature Card: Best for Tight Controls on spending Among Employees
SignatureCard® from Wells Fargo Business Elite
Our editorial team uses industry specialists to generate the scores for Fit Small Business. The kind of credit card (cash back or travel) as well as the card’s rates, fees, rewards, and other benefits like insurance are all taken into account in our grading methodology.
Businesses having yearly revenues of more than $1 million
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APR on a regular basis
Prime members get a 3.99 percent discount on all purchases.
a yearly fee
The first year of the $75 yearly rewards program cost is free.
- When you enlist in the Business Elite Card Rewards Program and spend $15,000 within the first three months of account opening, you’ll get a one-time $1,000 cash back incentive or 100,000 bonus points. For the first year, the $75 annual rewards program cost is waived.
- Get 1.5 percent cash back on every dollar you spend.
- Earn 1 point for every $1 spent, with a bonus of 5,000 points if your firm spends $10,000 or more in any monthly billing period.
- There are no international transaction fees.
- Employee cards (up to 200)
- Options for paying your bills
- Reporting tool for businesses online
- There is no extra card cost.
Pros
- Low annual percentage rate (APR)
- Employee cards are available for free in quantities of up to 200.
- Controls on spending
Cons
- There is no preamble. APR
- There are no additional category awards available.
- Online applications are not accepted.
- Controls on spending: Set transaction limits, time limits, and spending category restrictions on any employee card.
- Company Elite Online Reporting: Easily review and monitor business data and spending patterns with Business Elite Online Reporting.
- Auto Rental Collision Damage Waiver: When you waive the rental car merchant’s insurance, you get coverage for stolen or damaged rental cars up to the cash value of the vehicle.
- Purchase Security: Have products that were damaged or stolen within 90 days of purchase fixed or replaced, or receive compensated for the item’s worth, up to $10.00 per claim and $50,000 per year.
- Extended Warranty Protection: For warranties of three years or less, Visa will double the duration of warranty protection granted by the manufacturer, up to one year.
- Cardholders, their spouses, and dependents have free access to emergency, medical, travel, and legal support 24 hours a day, seven days a week.
APR on a regular basis
Prime members get a 3.99 percent discount on all purchases.
a yearly fee
The first year of the $75 yearly rewards program cost is free.
- When you enlist in the Business Elite Card Rewards Program and spend $15,000 within the first three months of account opening, you’ll get a one-time $1,000 cash back incentive or 100,000 bonus points. For the first year, the $75 annual rewards program cost is waived.
- Get 1.5 percent cash back on every dollar you spend.
- Earn 1 point for every $1 spent, with a bonus of 5,000 points if your firm spends $10,000 or more in any monthly billing period.
- There are no international transaction fees.
- Employee cards (up to 200)
- Options for paying your bills
- Reporting tool for businesses online
- There is no extra card cost.
Here’s the link to the full editorial review.
Pros
- Low annual percentage rate (APR)
- Employee cards are available for free in quantities of up to 200.
- Controls on spending
Cons
- There is no preamble. APR
- There are no additional category awards available.
- Online applications are not accepted.
- Controls on spending: Set transaction limits, time limits, and spending category restrictions on any employee card.
- Company Elite Online Reporting: Easily review and monitor business data and spending patterns with Business Elite Online Reporting.
- Auto Rental Collision Damage Waiver: When you waive the rental car merchant’s insurance, you get coverage for stolen or damaged rental cars up to the cash value of the vehicle.
- Purchase Security: Have products that were damaged or stolen within 90 days of purchase fixed or replaced, or receive compensated for the item’s worth, up to $10.00 per claim and $50,000 per year.
- Extended Warranty Protection: For warranties of three years or less, Visa will double the duration of warranty protection granted by the manufacturer, up to one year.
- Cardholders, their spouses, and dependents have free access to emergency, medical, travel, and legal support 24 hours a day, seven days a week.
Who Should Use a Wells Fargo Business Elite Signature Card?
The Wells Fargo Business Elite Signature Card is an excellent option for businesses with annual sales of over $1 million and those that need Employee cards (up to 200). This is also best for businesses that want to earn fixed-rate cash back or points rewards and want Controls on spending on employee cards.
The Wells Fargo Business Elite Signature Card does not offer a 0% introductory APR. If you need to finance a large purchase and want to take advantage of interest-free financing, this card may not be right for you. This card is best for businesses that can spend at least $10,000 monthly to take advantage of the 5,000 bonus points per billing period. If you spend less than $10,000 per month, you may benefit more from the Business Platinum Credit Card from Wells Fargo.
Fees on the Wells Fargo Business Elite Signature Card
- APR for the first time: None
- Prime rate + 3.99 percent is the ongoing APR.
- a yearly fee: $125, waived the first year
- Fee for transferring funds: varies per account
- Fees for international transactions: none
- Cash advance fee: 4% or $10, whichever is higher; cash advance APR is prime + 20.74 percent.
The Wells Fargo Business Elite Signature Card is one of our favorites.
- There are no international transaction fees.: You can make purchases made outside of the US using your card and enjoy zero foreign transaction fees.
- Sign-up bonus: After spending at least $15,000 during the first three months of establishing an account, you may get a one-time bonus of $500 or 50,000 points.
- Choice to get cash back or points rewards: You have the option to receive either cash back or points rewards. On all qualified purchases, you may receive a flat 1.5 percent cash back or one point every dollar.
- Bonus points: You may get 5,000 bonus points per billing cycle if you spend at least $10,000 in a month if you wish to earn points.
- Employee cards are available for free in quantities of up to 200.: You can have Employee cards (up to 200) at no additional cost, making this an excellent alternative if you need that number of free employee cards.
- Travel incident fee reimbursement: Each firm is eligible for up to $100 in reimbursement for travel incident fees each calendar year.
What Is the Wells Fargo Business Elite Signature Card Missing?
The Wells Fargo Business Elite Signature Card does not offer 0% introductory APR on both purchases and balance transfers. It also charges an a yearly fee of $125, though it’s waived for the first year. For a card that charges a yearly fees, the cash back rate of 1.5% is quite small compared to other cash back business credit cards. If you are looking for better offer, check out our best cash back business credit cards list for more options.
Best for Building Business Credit: Secured Credit Card from Wells Fargo
Secured Credit Card from Wells Fargo
Our editorial team uses industry specialists to generate the scores for Fit Small Business. The kind of credit card (cash back or travel) as well as the card’s rates, fees, rewards, and other benefits like insurance are all taken into account in our grading methodology.
Owners of businesses with bad credit
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APR on a regular basis
On purchases, Prime members get an extra 11.90 percent off.
- Cash Back option: Get 1.5 percent cash back on every dollar you spend.
- Reward Points option: Earn 1 point for every $1 spent, plus 1,000 additional points for each monthly billing period in which your firm spends $1,000 or more.
- There is no yearly cost for the rewards program.
- A credit line of $500 to $25,000 is available.
- There is no risk of responsibility.
Pros
- With a credit score of less than 580, approval is possible.
- Fixed-rate cash back or points rewards are your options.
Cons
- A security deposit of at least $500 is required.
- Has an a yearly fee
- Purchase Assurance: If an item is damaged or stolen within 90 days of purchase, Wells Fargo will fix, replace, or refund you.
- Design Studio: On your credit card, include a personal picture or a company design.
APR on a regular basis
On purchases, Prime members get an extra 11.90 percent off.
- Cash Back option: Get 1.5 percent cash back on every dollar you spend.
- Reward Points option: Earn 1 point for every $1 spent, plus 1,000 additional points for each monthly billing period in which your firm spends $1,000 or more.
- There is no yearly cost for the rewards program.
- A credit line of $500 to $25,000 is available.
- There is no risk of responsibility.
Pros
- With a credit score of less than 580, approval is possible.
- Fixed-rate cash back or points rewards are your options.
Cons
- A security deposit of at least $500 is required.
- Has an a yearly fee
- Purchase Assurance: If an item is damaged or stolen within 90 days of purchase, Wells Fargo will fix, replace, or refund you.
- Design Studio: On your credit card, include a personal picture or a company design.
Who is Secured Credit Card from Wells Fargo Best For?
The Secured Credit Card from Wells Fargo is best for businesses that need to establish or rebuild their business credit. Wells Fargo helps you build business credit by reporting your payment and usage behavior to the Small Business Financial Exchange (SBFE). This card is a good option if you can’t qualify for an unsecured business credit card and if you have extra $500 to $25,000 cash reserves for a security deposit.
The Secured Credit Card from Wells Fargo made it to the top of our list of the best secured business credit cards. This card charges no a yearly fee and offers flexible rewards options—either cash back or points-based rewards. It is ideal for business owners with little to no credit history. If you can qualify for an unsecured business credit card, it’s best to consider other options.
Secured Credit Card from Wells Fargo Fees
- APR for the first time: None
- Prime + 11.90% is the current APR.
- a yearly fee: None
- Fee for transferring funds: varies per account
- Fees for international transactions: none
- Cash advance fee: 4% or $10, whichever is larger, up to $175 in total—cash advance APR is prime + 20.74 percent.
Why We Like Secured Credit Card from Wells Fargo
- $0 a yearly fee: This card charges no a yearly fee—you can earn cash back or points rewards for all business-related purchases while building your business credit.
- There are no international transaction fees.: This card is a great choice if you make purchases outside the US because it does not charge foreign transaction fees.
- Choice to get cash back or points rewards: You have the option to receive either cash back or points rewards. On qualified purchases, you may receive a set 1.5 percent cash back or one point every dollar.
- Up to ten free employee cards: You may have as many as ten free employee cards.
- Wells Fargo sends your payment and use activity to the Small Company Financial Exchange, which aids in the development of business credit.
What’s Missing From Secured Credit Card from Wells Fargo
The Secured Credit Card from Wells Fargo does not offer introductory interest-free financing and does not offer a sign-up bonus. Unlike the other two Wells Fargo business credit cards, this card does not provide additional bonus points if you meet a certain spending threshold in a billing cycle. While this card can help you build business credit, it cannot help you build personal credit.
Which Wells Fargo Business Credit Card Should You Get?
All of Wells Fargo’s credit cards are among the top business credit cards that don’t report to personal credit agencies, making them ideal for people who don’t need to develop personal credit. These three credit cards provide fixed-rate, flexible rewards choices that let you pick between cash back and point-based benefits. The ideal Wells Fargo business credit card for you will be determined by your unique company requirements and preferences.
When determining which Wells Fargo credit card is best for your company, keep the following six things in mind:
1. Your Credit Capability
Your credit qualification will primarily determine whether you can be approved for any of the two Wells Fargo unsecured business credit cards. If you still need to establish or rebuild your business credit and can not qualify for an unsecured business credit card, the Secured Credit Card from Wells Fargo is the most suitable option for you.
2. Your Business Size & Total Annual Sales
Two of the most important factors to consider when choosing which Wells Fargo business credit card is best for you are the size of your business and your total annual sales. The Business Platinum Credit Card from Wells Fargo is ideal for businesses with up to $2 million in annual sales, while the Wells Fargo Business Elite Signature Card is best for businesses with over $1 million annual sales.
3. The number of employee cards you’ll need
The number of employee cards that you’ll need is also an important factor to consider in choosing the right Wells Fargo credit card. If you need as many as 200 employee cards at no additional cost, the Wells Fargo Business Elite Signature Card is the best option. However, if you only need up to 99 free employee cards, it’s better to choose the Business Platinum Credit Card from Wells Fargo. The Secured Credit Card from Wells Fargo offers up to 10 free employee cards.
4. Expenses on a Monthly Basis
If your monthly expenses are at least $1,000 but less than $10,000, you will earn 1,000 bonus points from the Business Platinum Credit Card from Wells Fargo. However, if your company spends at least $10,000 monthly, you will benefit more from the Wells Fargo Business Elite Signature Card as it offers 5,000 bonus points every billing cycle if you meet this threshold.
5. Initiation Bonuses
Consider opening a Business Platinum Credit Card from Wells Fargo if your business needs to take advantage of the introductory interest-free financing period. This card is also an excellent option if you can spend no more than $3,000 within three months of opening an account to earn $300 bonus cash back or 30,000 bonus points. However, if you can spend at least $5,000 in three months, you will benefit more from Wells Fargo Business Elite Signature Card as it offers a $500 bonus cash back or 50,000 bonus points.
6. a yearly fee
If you don’t want to pay a yearly fees, consider opening either the Business Platinum Credit Card from Wells Fargo or the Secured Credit Card from Wells Fargo. On the other hand, the Wells Fargo Business Elite Signature Card charges a $125 a yearly fee, which is waived for the first year.
Conclusion
All Wells Fargo business credit cards offer a 1.5% cash back or one point per dollar reward but carry different a yearly fees, introductory and ongoing APRs, and rewards. The best Wells Fargo business credit card depends on your business’s needs and unique circumstances. If these cards don’t fit the bill, visit our credit card marketplace to find other options.
The “wells fargo business credit card application” is a very important part of the finance industry. Wells Fargo offers many different types of cards for various purposes.
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