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Here’s a side-by-side comparison of each Wells Fargo business card to help make narrowing down your choice a bit simpler.
Wells Fargo offers three business credit cards, each tailored to the size of your company.
Although your credit line depends on your security deposit and you face a high APR with the Wells Fargo Business Secured Credit Card, this card offers some advantages you don't often see in other secured business cards, notably the ability to earn rewards while getting your finances on track. In fact, the reward structure on this card is surprisingly thorough, allowing you to choose between 1.5% cash back or 1x reward points on purchases. Should you choose points, Wells Fargo will give an additional 1,000 points for every $1,000 your company spends in a monthly billing period.
Finally, the security deposit required for the Wells Fargo Business Secured Credit Card is rather flexible, requiring between $500 and $25,000 in order to open the account. This offers some solid wiggle room, depending on how your business is performing financially. Just take care to pay your balance on time, as this card doesn't feature an intro APR period. This card isn't ideal for multiple employee cards, as each is subject to an additional annual fee.
Annual Fee | $0 |
---|---|
Purchase APR | 15.15% variable |
Balance transfer APR | N/A |
Welcome offer | N/A |
Rewards | 1.5% cash back on all purchases |
A standout benefit to this card lays in the intro APR period on purchases and balance transfers. Cardholders enjoy a 0% intro APR offer on both for the first 9 months of card membership, reverting to a variable APR of 11.24% to 21.24%. This intro APR is a handy tool for businesses in the middle of growing or looking to dig out of an expansion period.
Interestingly, you also won't have to worry about paying an annual fee with this card, which is a solid deal and in line with other intro APR business cards.
Annual Fee | $0 |
---|---|
Purchase APR | 0% intro for the first 9 months (then 11.24% to 21.24% variable) |
Balance transfer APR | 0% intro for the first 9 months (then 11.24% to 21.24% variable) |
Welcome offer |
$300 when you enroll in the rewards program and spend $3,000 in the first
3 months |
Rewards | Choose 1.5% cash back or 1x points on all purchases |
As with all Wells Fargo business cards, you're entitled to a choice of rewards programs with enticing bonuses whether you opt for cash back or reward points, including a signup bonus of $500 or 50,000 points after you spend $15,000 in the first 3 months. The Wells Fargo Business Elite Signature Card also offers travel insurance and zero foreign transaction fees, making it solid among business travel cards.
Annual Fee | $0 intro annual fee for the first year ($125 thereafter) |
---|---|
Purchase APR | 7.24% variable |
Balance transfer APR | N/A |
Welcome offer | $500 or 50,000 bonus points when you enroll in the rewards program and spend $15,000 in first 3 months |
Rewards | 1.5% cash back or 1x points on all purchases, plus 5,000 points after spending $10,000 or more in any monthly billing period |
Card | Signup bonus | Foreign transaction fees | Balance transfer fees | Travel benefits | Zero liability protection |
---|---|---|---|---|---|
Wells Fargo Business Secured Credit Card | N/A | None | N/A | No | Yes |
Wells Fargo Business Platinum Credit Card | $300 | None | $10 or 4% | No | Yes |
Wells Fargo Business Elite Signature Card | $500 or 50,000 points | None | N/A | Travel incidental fee reimbursement | Yes |
Each of Wells Fargo’s business cards are tailored for your company’s credit score and the size of your business. Give these factors some thought when searching for the right business card:
Wells Fargo business cards offer the standard array of perks and reward potential you’d want from a business card. Plus, Wells Fargo offers just three business cards, each tailored to a certain type of business. Some of the potential benefits include:
When it comes to choosing between Wells Fargo credit cards, it’s really the size of your business and credit history that will dictate which is the best fit. The cards all offer the same rewards system, basic business tools and no foreign transaction fees, which many companies will find appealing.
But with a universal benefits system across all three cards, businesses with big travel expenses may find other providers offer higher reward returns per dollar.
As always, compare your business credit card options to find the one that best suits your needs.
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