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finder.com’s rating: 4.3 / 5
★★★★★
$300
Welcome offer
Up to 1.5x
Points
$0
Annual fee
0%
Intro purchase APR
for the first 9 months (then 11.24% to 21.24% variable)
Annual fee | $0 |
---|---|
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 |
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) |
Recommended minimum credit score | 670 |
Issuer | Visa |
Review by
Megan Horner is the credit cards publisher at Finder. She's passionate about helping you find the best credit cards to meet your financial needs — whether that's earning great rewards or improving your credit score. Megan's expertise has been spotlighted on Lifehacker, CreditCards.com, American Banker and featured on news broadcasts across the country.
The Wells Fargo Business Platinum Credit Card is a straightforward no-annual-fee card that allows business owners to choose their rewards structure. Cardholders can either pick cash back at 1.5% for all purchases or rewards points that earn 1x point for every dollar spent. Both rewards options cover all purchases — no spending categories to keep track of here.
You’ll also enjoy an intro APR for all purchases and balance transfers for the first nine months. This welcome offer can be helpful if you’re looking to make large purchases or if you need to consolidate debts from other cards.
Once your application is approved and processed, you’ll receive your card within 10 business days.
This card is best suited for small to midsize businesses who purchase in diverse categories and spend $50,000 or less annually. Since there’s no annual fee, it’s especially easy for companies just getting off the ground to keep around long term. And if your business often shops at foreign websites for inventory or supplies, the Wells Fargo Business Platinum Credit Card could save you money with no foreign transaction fees.
Top 3 business credit cards from Wells Fargo
You must be a US citizen or permanent resident to apply for this card. To start the application process, you’ll need the following information:
Only customers who have banked with Wells Fargo for at least one year can apply for a business credit card online. New customers must apply at a local branch.
You’ll have a greater chance of approval if you apply with a good to excellent credit score of 670 or higher. Aside from your credit history, Wells Fargo looks at your business’s cash flow and existing credit obligations to determine whether you can handle taking on more debt. It also considers your current relationship with the bank. Long-time customers with a history of positive cash flow and on-time payments may have an easier time getting approved for this card.
Wells Fargo is not accredited with the Better Business Bureau (BBB), though it did receive an F rating from the agency as of October 2020. Its customer reviews on the website are overwhelmingly negative, with over 3,700 individuals filing a complaint against the bank. It doesn’t fair any better on Trustpilot, earning a dismal score of 2.2 out of 10. Most negative feedback centers around poor customer service and technical glitches with banking customers.
Reviews for this specific business card are generally positive, however, with many customers who enjoy linking their checking account to the card. Still, others complained that their accounts were frozen during periods of travel, so make sure to report any trips to avoid losing access to your card.
If you’re looking for a business card that allows you to earn either cash back or rewards points across all spending categories, the Wells Fargo Business Platinum Credit Card is a solid option. You’ll earn a flat 1.5% cash back or 1x points for all spending, with no earning caps. However, you’ll want to keep track of your rewards, as there’s a three-year expiration date.
With no annual fee and attractive welcome offers, this card can be beneficial for small businesses owners looking to either transfer balances or make large purchases.
As always, compare other business credit cards to find the best one for your company’s spending and needs.
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We rank card types — travel, cash back, business — on a set of factors that are most relevant to that type of card. We create these rankings to help you narrow down a credit card that best suits your spending and budget.