Business Credit Cards

Wells Fargo Business Credit Card: A Comprehensive Review

Wells Fargo, one of the most popular financial institutions in the United States, offers a variety of credit cards for businesses. The Wells Fargo Business Credit Card is designed to meet the needs of small business owners who are looking for a flexible and convenient way to manage their expenses. This article provides a comprehensive review of the Wells Fargo Business Credit Card, including its features, benefits, fees, and rewards program.

Features of the Wells Fargo Business Credit Card

The Wells Fargo Business Credit Card comes with several features that make it a popular choice among small business owners. One of the key features of this credit card is its flexible credit limit, which can be adjusted based on the needs of your business. This means that you can increase or decrease your credit limit based on your business needs.

The Wells Fargo Business Credit Card also comes with a rewards program that allows you to earn points for every dollar spent on eligible purchases. These points can be redeemed for cash back, travel rewards, or merchandise.

In addition, the Wells Fargo Business Credit Card offers several benefits, including purchase protection, extended warranty coverage, and auto rental collision damage waiver. These benefits can help protect your business from unexpected expenses and provide peace of mind.

Fees Associated with the Wells Fargo Business Credit Card

Like most credit cards, the Wells Fargo Business Credit Card comes with fees that you need to be aware of. The annual fee for this credit card is $0, which means that you won't have to pay anything to keep the card active.

However, there is a foreign transaction fee of 3% for purchases made outside the United States. This fee can add up quickly if you frequently travel internationally for business.

In addition, the Wells Fargo Business Credit Card comes with a cash advance fee of either $10 or 5% of the amount of each cash advance, whichever is greater. This fee applies to any cash advances you take out using your credit card.

Rewards Program for the Wells Fargo Business Credit Card

The rewards program for the Wells Fargo Business Credit Card is one of the key features that make it a popular choice among small business owners. With this rewards program, you can earn points for every dollar spent on eligible purchases.

For every dollar spent on eligible purchases, you can earn 1.5 points. These points can be redeemed for cash back, travel rewards, or merchandise. The redemption value of the points varies depending on how you choose to redeem them.

For example, if you choose to redeem your points for cash back, you can get a statement credit or a deposit into your Wells Fargo account. The redemption value for cash back is 1 cent per point, which means that 100 points are equal to $1.

If you choose to redeem your points for travel rewards, you can use them to book flights, hotels, or rental cars. The redemption value for travel rewards varies based on the travel partner you choose.

Conclusion

The Wells Fargo Business Credit Card is a popular choice among small business owners who are looking for a flexible and convenient way to manage their expenses. With its flexible credit limit, rewards program, and benefits, it's easy to see why this credit card is so popular.

However, it's important to be aware of the fees associated with this credit card, including the foreign transaction fee and cash advance fee. Make sure to read the fine print before applying for the Wells Fargo Business Credit Card to ensure that it's the right choice for your business.