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Wells Fargo Business Elite Card® — June 2019

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Wells Fargo Business Elite Card®

A simple credit card for businesses with many employees that lets you earn rewards.

  • Get this card if you have a large number of employees and want better control over their spending.
  • Pick something else if you want higher cash back on specific purchase categories.
  • Apply with an excellent credit score.
Product NameWells Fargo Business Elite Card®
Card TypeVisa
Annual Fee$0
Standard Purchase APR9.24% variable
Intro Purchase APR


Intro Balance Transfer APR


Cash Advance Rate25.99% variable
Cash Advance Fee$10 or 4% of the cash advance amount, whichever is greater
Foreign Transaction FeeNone
Interest Free PeriodUp to 25 days
Late Payment Fee Conditions$25 fee for balances up to $100, $39 for up to $5,000 and $75 for balances over $5,000.
Returned Payment Fee$29
Minimum Age18 years of age
Welcome OfferGet a one-time $1,000 cash back bonus when you enroll in the cash back rewards program and spend $15,000 in first 3 months
RewardsEarn 1.5% cash back on all purchases
Base Rewards1.5% cash back

The basics

The Wells Fargo Business Elite Card® offers the simple rewards-earning credit card to businesses with up to 200 employees. You’ll get access to online reporting tools to better manage and control your employee spending and — if you decide to enroll in the reward program — you’ll earn either cash back or reward points.

Which business rewards should I choose?

Reward typeCash backReward points
Once you enrollEarn 1.5% on all of your purchases.Earn 1x points on all of your purchases.
Signup bonusGet $1,000 once you spend $15,000 on purchases in your first three months of card membership.Get 5,000 bonus points every monthly billing period where you spend more than $10,000 on purchases.
Redemption optionsRedeem as a statement credit or a deposit to your checking or savings account.Redeem for gift cards, merchandise, airline tickets and more.
Additional perksNoneRedeem your points online and get a 10% bonus.
Earn bonus points or discounts from Earn More Mall retailers.

Another business cashback card

SimplyCash® Plus Business Credit Card from American Express

  • Special offer: save on interest with a 0% intro APR on purchases for 15 months; after that your APR will be a variable rate, currently 14.49% - 21.49%
  • No annual fee
  • Reinvest in your business with automatic cash back in the form of a monthly statement credit. Plus take control by choosing the 3% category that best fits your business
  • Earn 5% cash back on the first $50,000 spent at wireless telephone services purchased directly from U.S. service providers and U.S. office supply stores.
  • Earn 3% cash back on the first $50,000 spent in the category of your choice from a list of eight and 1% cash back on other purchases
  • With Expanded Buying Power you can spend beyond your credit limit* to make bigger purchases for your business plus earn cash back on those purchases too
  • *The amount you can spend above your credit limit is not unlimited. It adjusts with your use of the card, your payment history, credit record, financial resources known to us, and other factors
  • Terms apply
Read less
Read more
See Rates & Fees

The perks

  • Earn rewards.

    You must enroll when you apply for the card to earn either 1.5% cash back or 1x points on all of your purchases.

  • Signup bonus.

    Your bonus will depend on your choice of cash back or points. For cash back, you can earn a $1,000 statement credit after you spend $15,000 on purchases in the first 3 months following your account opening — an offer that’s valid until December 31, 2018. Or earn 5,000 points once you spend $10,000 on purchases in any one monthly billing period.

  • Employee cards.

    Get up to 200 employee cards without paying a fee.

  • No annual fee.

    You won’t pay any fee to own the card. However, if you want to earn rewards, you’ll have to pay an annual enrollment fee of $75 starting the second year that will cover all cards on the account.

  • No foreign transaction fees.

    Use your card freely when traveling abroad without paying foreign transaction fees.

You’ll also like …

  • Spending controls.

    Set up versatile spending controls for all of your employee cards. For example, you can set specific dollar limits and restrict spending to business hours only. You can also limit which types of purchases your employees can make, such as printing, copying or equipment rentals.

  • Business reporting.

    Get access to your employee spending once you enroll. Analyze by category and merchant to get a clear view of where your company spends most. This can help you get better deals with merchants that you’re a regular customer with.

  • Card design.

    Customize your card design to show your logo or any other image that represents your business.

  • Billing options.

    Set up individual cardmember billing or consolidated billing.

  • Purchase protection.

    Get zero liability protection, hard-to-counterfeit chip technology, fraud monitoring and alerts, Visa purchase security and extended warranty.

What to watch out for

  • Rewards enrollment fee.

    The rewards program is optional. If you want to earn either cash back or reward points, you’ll pay a $75 annual fee starting from the second year. The enrollment fee covers all of your company credit cards.

  • High entry threshold.

    Wells Fargo aims this card at businesses with more than $1 million in annual sales.

  • Signup bonus eligibility.

    You won’t be eligible to earn the signup bonus if you already have another Wells Fargo business credit card, or if you’ve opened or closed one within the last 12 months from when you apply. Also, if you transferred or upgraded from existing Wells Fargo business credit cards, you won’t be able to earn the bonus.

  • No intro APR period.

    You won’t earn any 0% intro APR period for balance transfers and purchases.

Compare business credit cards

Updated June 18th, 2019
Name Product Rewards Purchase APR Annual Fee
0% for the first 20 billing cycles (then 12.24% to 20.24% variable)
Enjoy a market-leading 0% intro APR on purchases and balance transfers for the first 20 billing cycles, reverting to a variable 12.24% to 20.24% APR. Rates & Fees
5% back at US office supply stores and on US wireless telephone services on up to $50,000 annually (then 1%). 3% on a chosen category on up to $50,000 annually, then 1% after and on everything else
0% for the first 15 months (then 14.49% to 21.49% variable)
Save on interest with a 0% intro APR on purchases for 15 months. After that your APR will be variable. Rates & fees
2x points on everyday business purchases on up to $50,000 annually, then 1x points
0% for the first 12 months (then 15.49% to 21.49% variable)
Earn 2x Membership Rewards® points on everyday business purchases on up to $50,000 with no category restrictions. Rates & fees
12x points at Hilton, 6x points on select business and travel and 3x points on all other purchases
17.99% to 26.99% variable
Earn 125,000 Hilton Honors Bonus Points after you spend $3,000 in eligible purchases within the first 3 months of card membership. Rates & fees
2x miles on Delta purchases and 1x miles on all other purchases
0% for the first 6 months (then 17.99% to 26.99% variable)
$0 intro annual fee for the first year ($95 thereafter)
Earn 70,000 bonus miles after you make $4,000 in purchases on your new card within your first 3 months. Plus earn $50 after you make your first Delta purchase in the same timeframe. Rates & fees

Compare up to 4 providers

What size business is the Wells Fargo Business Elite Card® good for?

The card is aimed at businesses with more than $1 million in annual sales and, ideally, with a large number of employees. This could make it hard for smaller companies to obtain the card. But if you can’t reach the entry minimum, there are similar cards that could serve your business better.

However, if you do make more than $1 million annually, you’ll likely find this card to be more than useful. You’ll get industry-leading online reporting and spending control tools that can help you analyze where you spend most, and you can easily optimize your expenses and save money in the long run.

What should I know before I apply?

To apply for the card, you’ll have to visit a Wells Fargo branch. You can locate one by visiting the Wells Fargo website.

What credit score do I need?

You’ll need to have an excellent credit score and more than $1 million in sales annually.

What do customers say about the Wells Fargo Business Elite Card®?

The Better Business Bureau is yet to accredit and rate Wells Fargo. Most user complaints revolve around the bank’s customer service, as well as with hidden fees. Some customers complained about getting low credit lines across a variety of Wells Fargo personal credit cards, but this isn’t the case with everyone.

On the positive side, a number of customers who wanted to build their credit with Wells Fargo business cards claim they managed to do so.

How to apply for the Wells Fargo Business Elite Card®?

  1. Visit a Wells Fargo branch or call 844-807-5060.
  2. Submit any necessary business information, including your business’s name, address, financial information and federal tax ID. You’ll also need to submit personal information such as your name, date of birth, Social Security number and home address.
  3. Wait for a decision from Wells Fargo.

How long will it take to get my Wells Fargo Business Elite Card®?

Upon approval, your card should arrive within seven to 10 business days. Any additional cards that are requested when you apply will also arrive, but they’ll be in separate envelopes.

I got the card. Now what?

  • Get the Wells Fargo mobile app. Use the mobile app to track your spending, make payments, deposit funds and more.
  • Enroll in business rewards. To earn cash back or reward points and to get the additional bonuses, enroll in either of the rewards programs. Note that you’ll need to pay an annual renewal fee.
  • Enroll in Business Elite Online Reporting. Download the enrollment application form from the Wells Fargo website. Once you print and complete the form, fax it to 877-531-8803.
  • Set spending controls for your employees. Set controls on your employee cards based on time of the day, dollar amount or the type of spending.
  • Set up automatic payments. Call 800-231-5511 to enroll in automatic payments, or log in to your online account and set it up from there. If your credit limit is more than $100,000, you’ll have to pay your entire balance in full every month.
  • Customer service. Call Wells Fargo Business Elite dedicated customer service at 800-231-5511 for any questions you may have, or to set up spending controls.

Bottom line

The Wells Fargo Business Elite Card® could be an ideal choice for businesses with a large number of employees and with more than $1 million in sales annually. You’ll get to earn cash back or rewards points, and you’ll get one of the best business reporting tools to help you manage your business and optimize your expenses.

But if you‘re not sure this is the card for your business, compare other business credit cards to find the right one for your financial needs.

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