Wells Fargo Rewards® Card

Robin Saks Frankel  in  0% APR How we rate our cards  |  Advertiser Disclosure
Wells Fargo Image
Annual Fee:
$0 annual fee
Purchase Intro APR:
0.00% introductory APR for 15 months
Balance Transfer Intro APR:
0.00% introductory APR for 15 months
Regular APR:
18.74%-27.74% (Variable)
Terms and Restrictions Apply | Rates and Fees

Bankrate Rating

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The Wells Fargo Rewards Card isn’t a bad choice for a new credit card, it just may not be your best one. It comes with a just-OK introductory 15-month 0% APR on purchases and balance transfers. The card also gives wide latitude in how you can redeem your points, from travel, gift card or cash.

But it falls well short of other credit cards when it comes to ongoing rewards.

Review

The Wells Fargo Rewards Card has a few snazzy attributes that may initially catch your eye. With no annual fee and an introductory 0% 15-month APR offer on purchases and balance transfers, at first glance the card may seem enticing. Heck, it even offers 5x points for the first six months on up to $12,500 spent for gas, grocery and drugstore spending. But dig a little deeper and you can find similar cards that offer better value.

There are a lot of rewards cards out there. Some with rotating categories and some with flat cash-back payouts. If you’re looking for a credit card to keep using after the tempting introductory period, you’re probably going to find one that has better long-term value than the Wells Fargo Rewards Card.

In fact, after the intro period expires the 1x points on all spending is actually pretty mediocre.

Who should own this card

This card is best for someone who can maximize the introductory offer of unlimited 5x points on every $1 spent in the first six months in gas, grocery and drugstore spending. If you have some big purchases coming up in one of those categories and you can combine it with the 15-month 0% APR purchase offer, you might score yourself some serious savings.

Advantages
  • There's an 15-month introductory 0% APR offer on purchases and balance transfers.
  • The introductory rewards are quite good.
  • There’s no fee to own the card.
Disadvantages
  • Other rewards cards might net greater value depending on your spending habits.
  • Unused points expire after 5 years.
  • There's a foreign transaction fee of 3%, making this card a poor choice for international travel.
  • The balance transfer fee can eat away at your savings on interest.

Fees and APR

• There’s a 0% 15-month introductory APR offer on purchases and balance transfers. After that, it’s a variable 18.40% to 27.24%.
• There’s no annual fee.
• There’s a balance transfer fee of either $5 or 3% of the amount being transferred, whichever is greater.
• Late payments won’t affect your APR but you may be subject to a fee of up to $37.
• You’ll pay a 3% foreign transaction fee on all purchases made outside the U.S.

Extras, perks and using points

If you pay your monthly cell phone bill with your Wells Fargo card, you can get up to $600 in protection against damage or theft (minus a $25 deductible).

As a Visa Signature card, it includes benefits like car rental and luggage insurance and hotel perks at Visa Signature luxury properties.

To use your rewards, log into your account with Wells Fargo. You can redeem your points for travel, gift card, Wells Fargo online auctions, digital downloads or cash-back. There’s no fee to redeem your rewards and there’s no minimum amount required. For a more complete look into your potential rewards, visit our Wells Fargo Go Far Rewards guide.