The Wells Fargo Visa Signature Card isn’t on the radar for many people in the travel rewards community. It doesn’t offer a signup bonus or many of the normal perks you’d find in a travel credit card. However, it does offer 5x points on grocery, gas, and drugstore spending during the first six months after opening an account.
What makes this card really valuable is that points are worth 50% more when redeemed for flights. That means you can earn up to 7.5x toward flights in the first six months when you spend with this Visa Signature card. Plus there is no annual fee.
I think this is a perfect rewards credit card to add to your wallet when looking to diversify away from the big three (American Express, Chase, and Citibank).
Wells Fargo Visa Signature Card Highlights
If you are thinking about applying for the Wells Fargo Visa Signature Card, here is some additional info that will help you make up your mind.
- 5x Bonus Points: You’ll earn 5x points on your first $12,500 in spending at grocery stores, gas stations, and drugstores during the six months after opening your account. If you max out this promotion, you’ll have 62,500 points available.
- Points Are Worth 50% More for Flights: You can redeem your points for cash, hotels, car rentals, cruises, gift cards, merchandise, and auctions. However, you’ll maximize the value of your points by redeeming them for flights. Flights receive 50% more in value than other redemptions. For example, 20,000 points are worth $300 in flights versus $200 in cash.
- Pool Points for Bigger Rewards: Points can be pooled with other Go Far Rewards customers to reach a common goal with no fee. You may gift them to anyone or donate points to charity, as well.
- 0% APR Introductory Offer: New cardholders will enjoy 15 months of no interest on balance transfers and purchases.
- No Annual Fee: You’ll never pay an annual fee with this card.
Where It Shines
The Wells Fargo Visa Signature Card offers incredible value during the introductory period. Plus, it still has good value for some travelers after the initial six months.
The best perks revolve around the 5x points and redeeming them for flights. You’ll earn 5x points on gasoline, grocery, and drugstore purchases during the first six months. After that, you earn 1x points on all other transactions. When redeeming points for flights, that’s a respectable 1.5% on your spending. You can also book hotels, rental cars, and cruises or redeem points for cash, gift cards, and auction items at normal value.
This card also offers benefits for traveling, shopping, and cell phones. Your trips are covered with trip cancellation protection, lost luggage reimbursement, and auto rental collision coverage. Purchases are covered by an extended warranty and are also protected in case of theft or damage within 90 days or in the event of a price drop within 60 days. Plus, when you pay your cell phone bill, it is covered for theft or damage.
Cardholders who are carrying balances or are making a big purchase will like the no-interest introductory offer. For the first 15 months after opening your account, you will not be charged interest on purchases or balance transfers. There is a 3% fee (minimum $5) on all balance transfers. However, when you transfer a balance from a high-interest-rate card, your savings will offset that one-time fee.
Tips for Getting the Most From Your Wells Fargo Visa Signature Card
The biggest rewards opportunity with this credit card is the 5x promotion on the first $12,500 in spending during the initial six months. Most people will not max out the bonus from normal household shopping, but it can be done with some creativity.
Many grocery stores, gas stations, and drugstores sell gift cards. You can buy gift cards at these stores for purchases you’d make anyway. This turns a 1x point spend into a way to earn 5x points on every purchase.
In addition to earning rewards from your credit card purchases, you can also earn points by shopping at the Wells Fargo Go Far Rewards online portal. This online shopping portal offers deals from hundreds of retailers where you can earn additional rewards. This is a great way to double-dip on your purchases to earn extra rewards.
What You Might Not Like
Even though there are some great features of the Wells Fargo Visa Signature Card, it does fall short in a few key areas.
No Signup Bonus: Most travel rewards credit cards offer a signup bonus, but this card does not. Think twice before you let this credit card use a valuable slot in your Chase 5/24 count. Consider waiting to apply until after you’re past the 5/24 rule.
Only Six Months to Earn 5x Points: You have a limited time to earn bonus points through this promotion. Qualified purchases at grocery stores, gas stations, and drugstores made within the first six months after your account is opened will earn bonus points. All other purchases receive 1x points.
Maximum of 50,000 Bonus Points: The 5x points at grocery stores, gas stations, and drugstores are limited to the first $12,500 in purchases you make. This is approximately $2,000 per month, so most households will not hit the cap. However, if you are a big spender, this maximum will limit your ability to earn points.
No Transfer Partners: Wells Fargo does not have any transfer partners, so your redemption options are limited.
Points Expire After Five Years: Most points from rewards programs never expire or can be extended with activity on your account. Points from the Wells Fargo Visa Signature Card expire five years after they are earned and there is no option to extend their life. In reality, most people use their points within this timeframe anyway, but it is something to be aware of.
3% Foreign Transaction Fees: When making international purchases, you will be charged a 3% fee on top of your purchase amount. Many travel credit cards waive this fee, so leave this card at home when traveling abroad.
Alternatives to the Wells Fargo Visa Signature Card
This credit card offers some solid benefits, but some features could have you wondering if this card is right for you.
A great alternative is the American Express EveryDay Credit Card. It offers a 10,000 point signup bonus after spending $1,000 within the first three months. There is a 0% APR offer for 15 months on purchases and balance transfers. There is no annual fee, and fees are waived for balance transfers made within 60 days of opening the account.
You’ll earn 2x points at U.S. supermarkets on the first $6,000 in purchases each year and 2x points at Amex Travel. Plus, you’ll receive a 20% bonus each month when you make at least 20 transactions with the card. You can redeem your points for travel, transfer them to airline and hotel partners, or redeem them for gift cards and purchases.
The Wells Fargo Visa Signature Card offers great value when you first apply. You will earn up to 5x points on gas, grocery, and drugstore purchases during the first six months. The points you earn can be redeemed for travel, cash, gift cards, or merchandise. Plus, when you book flights, your points are worth 50% more.
If you need to transfer a balance or could use extra time to pay off your purchases, you’ll appreciate the 0% APR promotion for 15 months. Plus, there is no annual fee, so more of your money stays in your pocket.
I like that this credit card is from Wells Fargo, which gives you an option outside the big three banks that seem to dominate the rewards credit card space.