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Launched in May 2024, the Signify Business Cash℠ Card from Wells Fargo is a credit card designed for small business owners that offers 2% cash back on purchases with an annual fee. It will be available at all Wells Fargo branches in mid-May to new and existing customers. But existing Wells Fargo customers can apply online immediately. What follows is a summary of what he will offer.
New Wells Fargo Signify Business Cash Credit Card Information
If your application for the Wells Fargo Signify Business Cash Card is approved, you will have the opportunity to earn the following welcome bonus: $500 bonus when you spend $5,000 on purchases in the first 3 months.
You’ll earn unlimited 2% cashback on everyday spending. Whether you’re buying supplies, ordering lunch for your employees, or booking a flight to a conference, this card earns you a flat 2% cash back on every purchase. There’s no limit to how much you can earn, and you don’t have to keep track of which bonus categories earn extra rewards.
Customers have a variety of redemption options through the Wells Fargo Business Rewards program. Redeem your rewards for credit card statements, direct deposits into your Wells Fargo checking or savings account, travel bookings, gift cards and more.
Wells Fargo recently introduced the ability to transfer points to airline and hotel partners as part of the launch of the Wells Fargo Autograph Journey℠ Visa® Card. However, rewards earned on the Wells Fargo Signify Business Cash Card are not transferable to partners.
Wells Fargo Autograph Journey℠ Visa® Card
Welcome Bonus
Earn 60,000 Bonus Reward Points after spending $4,000 in the first 3 months.
| Annual fee | US$95 |
| Regular annual interest rate | See Terms |
The Wells Fargo Signify Business Cash Card also offers an introductory APR of 0% for 12 months from account opening date, after which a variable APR of 18.49-26.49% will apply.
Other Benefits of the Wells Fargo Signify Business Cash Credit Card
In addition to cashback, cardholders receive the following benefits:
- Primary insurance for a rented car.
- Priority Pass Membership (please note that you will be charged for airport lounge access on a pay-as-you-go basis).
- Compensation for delayed luggage.
- No annual fee.
- Employee cards at no additional cost.
- Zero Liability Protection.
- Free account alerts.
- Access to a digital wallet.
Should you apply for the Wells Fargo Signify Business Cash Credit Card?
The Wells Fargo Signify Business Cash Credit Card is a great choice for business owners who want a card with a flat cash back rate and $0 annual fee. Since it earns unlimited 2% cash back on every purchase, there are no bonus categories to remember or limited-time offers to activate. Plus, there’s no limit to the amount you can earn, so whether your business plans to spend $5,000 or $100,000 a year, this card will provide valuable cash back to partially offset the purchases you still need to make.
However, the Signify Business Cash Card does not offer bonus cash back on regular business purchases. Some business owners may want to maximize their rewards by choosing a card with bonus categories that match where they spend the most each month.
Additionally, this card does not offer airline or hotel transfer partners. If you’re looking for a more travel-focused card and don’t mind a modest annual fee, the Ink Business Preferred® Credit Card from Chase offers valuable transfer partners and strong travel protection, and charges $95 per year to hold.
Ink Business Preferred® Credit Card
Welcome Bonus
Earn 100,000 points after spending $8,000 in the first three months of card opening.
| Annual fee | US$95 |
| Regular annual interest rate | 21.24–26.24% variable |
Conclusion
Many 2% cash back credit cards for business owners come with an annual fee or some kind of cap. For example, the American Express Blue Business Cash™ Card offers 2% cash back on all eligible purchases up to $50,000 per calendar year (then 1%). Or consider Capital One Spark Cash Plus, which charges an annual fee of $150. The Wells Fargo Signify Business Cash Credit Card beats such competitors in terms of its generous flat reward rate on all spending plus no annual fee that eats into your earnings.
There may be a better choice if you want a higher rate in certain bonus categories or if you travel frequently for business and want a card that generates rewards you can use with airlines and hotel chains. But for small business owners who just want direct cash back, this new card from Wells Fargo is just the ticket. Plus, if you need to make a large purchase, the intro APR on purchases and the welcome bonus new cardholders can receive make the Signify Business Cash card an attractive financing option.
To view American Express Blue Business Cash™ rates and fees, visitthis page
Please note that card details are accurate as of the date of publication but are subject to change at any time at the issuer’s discretion. Contact your card issuer to confirm rates, fees, and benefits before applying.
Fortune Recommends™ partners with CardRatings to cover credit card products. Fortune Recommends™ and CardRatings may receive commissions from card issuers.
Please note that card details are accurate as of the date of publication but are subject to change at any time at the issuer’s discretion. Contact your card issuer to confirm rates, fees, and benefits before applying.
Eligibility and benefit levels vary by card. Terms, conditions and restrictions apply. For more information, visit americanexpress.com/benefitsguide. Underwritten by Amex Insurance.