Signify Business Cash℠ Card by Wells Fargo: Simple rewards, lackluster perks

Wells Fargo Signify Business Cash Card Overview

Unlike competing 2% business cards, the Wells Fargo Signify Business Cash Card is free of many of the “buts” the others have. Here are some facts to bolster that assertion. Of the handful of other business cards offering 2% cash back, the other ones have caveats, like earning 2% but there’s a spending cap, after which the earn rate drops from 2% to 1%, or unlimited rewards but it’s a pay in full card so you can’t carry a balance, or the card earns tiered rewards where different categories earn different rates, but that can be confusing and that’s why you’re looking at 2% cards in the first place.

The Signify Business Cash Card threads that needle and offers simple, unlimited rewards without any of those “ifs” or “buts” plus some nice “ands”. There’s a 0% introductory APR for 12 months from date of account opening on purchases. After that your APR will be 18.49%–26.49% variable and some surprisingly robust travel protections for a no-annual-fee business card including primary auto rental coverage and travel accident insurance.

It’s also worth noting that although the card is marketed as a cash-back card, the rewards can also be used other ways including booking travel through Wells Fargo, to buy gift cards, or combined with an eligible Wells Fargo card and transferred to one of Wells Fargo’s travel transfer partners.

However, there’s a big “but” that we can’t deny. There are none of the purchase protections or business tools commonly found on small business cards, like extended warranty coverage, purchase protection or the ability to easily sync the card account with an expense management program like Quickbooks. 

Another nuisance is that, unless you’re an existing Wells Fargo customer with a checking or savings account that has been open for at least two months, you cannot apply online. However, you can apply in person without requiring an existing Wells Fargo account, and the bank has branches in 36 locations plus the District of Columbia. One more potential strike against the card is that, like most cash-back cards, it does charge foreign currency conversion fees of 3%.

Who is the Wells Fargo Signify Business Cash Card good for? 

The Wells Fargo Signify Business Cash Card is good for any business owner seeking simple cash-back rewards without any restrictions who either already has a qualifying account at Wells Fargo or can get to a branch to apply.

Who shouldn’t get Wells Fargo Signify Business Cash Card? 

Someone whose spending structure aligns better with a different business rewards card and/or anyone who cannot or will not apply in person should take a pass on the Wells Fargo Signify Business Cash Card. Heavy international spenders will also want to look elsewhere due to the card’s surcharge for foreign purchases.

Wells Fargo Signify Business Cash Card: How to earn rewards

The card earns a simple unlimited 2% cash back on all purchases. There’s also a welcome bonus of a $500 cash rewards bonus when you spend $5,000 in purchases in the first 3 months.

How to redeem Wells Fargo Signify Business Cash Card rewards 

Redeem for cash back

The most straightforward redemption is cash-back. You can take your earnings by phone or online starting as low as one cent increments and apply it towards an eligible Wells Fargo account as a statement credit. A paper check redemption mailed to you is also an option but in $25 cash increments only. A withdrawal from a Wells Fargo ATM is possible in $20 increments but you must have a Wells Fargo Debit or ATM card in order to redeem at a Wells Fargo ATM.

Redeem other ways

You can log into your Wells Fargo account and choose the “Redeem rewards” option or call Wells Fargo Rewards Customer Service at 1-877-517-1358. Redemption options include booking travel through Wells Fargo, using your earnings for charitable donations, merchandise, or physical and electronic gift cards.

Combine with another eligible account

Wells Fargo allows the rewards on this card to be combined with other eligible accounts. If your goal with rewards is to make travel redemptions this can be advantageous if you own a Wells Fargo Autograph℠ Card or a Wells Fargo Autograph Journey℠ Visa® Card. Both of these personal cards allow for points transfers to one of Wells Fargo’s travel transfer partners and transferring rewards to transfer partners can often yield values greater than a penny per point. 

Wells Fargo Signify Business Cash Card rates and fees

• Annual fee: $0
• Foreign transaction fee: 3% foreign currency conversion fee.
• Intro APR: 0% introductory APR for 12 months from date of account opening. After that, your APR will be 18.49%–26.49% variable.
• Purchase APR: 18.49%–26.49% variable APR.

Additional benefits

• Free employee cards. No charge to add extra employee cards to your account.
• $0 liability protection. You won’t be held responsible for unauthorized use of your card as long as  it’s reported promptly.
• Rewards flexibility. Redeem your earnings for cash back, use to book travel, buy gift cards and other options, or combine them with other eligible Wells Fargo Rewards cards.
• Travel accident insurance. Purchase your airline or other common carrier ticket with your eligible Wells Fargo card and you’ll be covered up to $250,000.
• Primary auto rental coverage. Get reimbursement for covered physical damage and/or theft of a rental vehicle with primary protection when you rent and pay for a car using your card and decline coverage at the rental counter.
• Pay as you go access to Priority Pass Lounges. This feature allows you to pay per use at participating Priority Pass airport lounges without also having to pay the annual membership fee.
• Baggage delay reimbursement. Get secondary coverage if your baggage is delayed by four or more hours of up to $300 per covered traveler per covered trip.

Credit cards similar to the Wells Fargo Signify Business Cash Card

As mentioned earlier, the Wells Fargo Signify Business Cash Card isn’t the only option for a rewarding cash-back business card. Here’s how it stacks up to competing cards.

Wells Fargo Signify	Capital One Spark Cash Plus	American Express Blue Business Cash™ Card
Annual fee	Annual fee	Annual fee
$0	$150	$0
Rewards	Rewards	Rewards
Unlimited 2% cash rewards	5% unlimited cash back on hotels and rental cars booked through Capital One Travel 2% unlimited cash back on every purchase, everywhere—with no limits or category restrictions When you spend at least $150,000 yearly the $150 annual fee will be refunded	2% cash back on all eligible purchases on up to $50,000 per calendar year (then 1%) 1% cash back on all eligible purchases after spending $50,000 per calendar year
Welcome bonus	Welcome bonus	Welcome bonus
$500 cash rewards bonus when you spend $5,000 in purchases in the first 3 months	$2,000 cash back once you spend $30,000 in the first 3 months. Earn an additional $2,000 cash bonus for every $500K spent during the first year	$250 statement credit after you make $3,000 in purchases on your card in your first 3 months
Our take	Our take	Our take
The Wells Fargo Signify Card keeps it simple, with unlimited 2% cash back with no limits and no annual fee.	The Capital One Spark Cash Plus card rewards you for buying what your business needs every day and booking business travel. Plus, it offers a generous welcome bonus if you can meet the minimum spending requirement.	The American Express Blue Business Cash™ Card offers 2% cash back on all eligible purchases on up to $50,000 per calendar year (then 1%), with no annual fee, making it lucrative for small businesses. However, businesses exceeding the $50,000 spending cap per calendar year will earn a reduced cashback rate of 1% on the remainder, and it may offer fewer perks compared to some other business credit cards.
	Learn more	Learn more
	View offer at Cardratings.com	View offer at Bankrate

To view rates and fees of the American Express Blue Business Cash™ Card, see this page

Capital One Spark Cash Plus Card vs. Wells Fargo Signify Business Cash Card

The Capital One Spark Cash Plus card has an annual fee of $150 and earns the same 2% unlimited cash back on every purchase, everywhere—with no limits or category restrictions. You can also earn 5% unlimited cash back on hotels and rental cars booked through Capital One Travel. That 5% on travel is nice, but in addition to a hefty annual fee the Spark Cash Plus is also a charge card, so there’s no opportunity to carry a balance from month-to-month. That may not be an issue for you if your business is rocking it, but there’s a clear advantage to occasionally being able to carry a balance if you need the float one month, and the 0% APR offer on purchases that comes with the Signify can be especially helpful for those starting out or who need to make a significant capital investment.

The Capital One Spark Cash is designed for big spenders, as it offers to waive the annual fee each year you spend at least $150,000 yearly the $150 annual fee will be refunded and also comes with a welcome bonus of $2,000 cash back once you spend $30,000 in the first 3 months. Earn an additional $2,000 cash bonus for every $500K spent during the first year. If you’re planning on doing that kind of spending without carrying a balance, you likely don’t need an intro APR offer. And someone who spends abroad will prefer the Spark Cash Plus as it doesn’t charge foreign transaction fees. But most small-to-midsize businesses will fare better with a card that allows them the flexibility of not having to pay in full each month, making the Signify the better choice between the two.

American Express Blue Business Cash Card vs. Wells Fargo Signify Business Cash Card

The American Express Blue Business Cash Card is also a no-annual-fee card that earns simple rewards with a comparable welcome bonus of a $250 statement credit after you make $3,000 in purchases on your card in your first 3 months. The card also comes with a welcome offer of a 0% intro APR on purchases for 12 months from date of account opening (after that, the variable APR will be 18.49%–26.49% variable). 

But the earnings on the Blue Business Cash Card are capped at 2% cash back on all eligible purchases on up to $50,000 per calendar year (then 1%). That may not be an issue for you if you don’t plan on doing a lot of spending on the card, but if you think you may typically spend more than $4,167 a month on the card, the Signify is clearly the better choice.

The cash back you earn on the Blue Business Cash Card is automatically credited to your statement each month, making the rewards on this card a true set-it-and-forget-it program. But that also means you’re locked in to taking those rewards just one way, unlike the Signify card. There’s no intro APR offer on purchases meaningful travel perks on this card, unlike the Signify but it does come with purchase protection and expanded buying power capabilities that may allow you to occasionally spend beyond your limit.

Between the two cards, the Signify is the better choice if you’ll spend more than $50,000 a year on your card and/or want greater flexibility with your rewards and the Blue Business Cash is best for smaller spenders who want purchase protections and extended warranty coverage more than auto rental insurance.

To view rates and fees of the American Express Blue Business Cash™ Card, see this page

Is the Wells Fargo Signify Business Cash Card right for you?

The Wells Fargo Signify Business Cash Card is ideal for those seeking simple rewards who may want the option to use their earnings for travel. The card’s additional benefits of primary auto rental coverage, travel accident and baggage insurance add to the appeal of booking a business trip with the card. Rewards maximizers will also appreciate the ability to combine the rewards from this card with other Wells Fargo cards and transfer them to partners.

But if you plan on doing a lot of international spending, this is not the card for you due to its foreign transaction fees. That’s not the only potential stumbling block, you’ll have to decide if the card’s benefits outweigh the fact that there are no included purchase protections or extended warranty coverage with the card. How much that matters will be dependent on the types of purchases you make for your business.

Frequently asked questions

What are the requirements for the Wells Fargo Signify card?

To apply online, you’ll need an eligible Wells Fargo checking or savings account. Otherwise you’ll have to apply in person at a branch. For your application, you’ll need your personal and business information, including your Social Security number (SSN) or Individual Taxpayer Identification Number (ITIN). You’ll also need to supply your business’s legal name, address, and contact details and employer identification number (EIN) if you have one.

Like most credit card applications, Wells Fargo will also review your credit report and history and other financial information to determine if they will approve you. Additionally, if you have opened a Wells Fargo-branded credit card in the last six months, you may not be approved for this one.

What kind of card is the Wells Fargo Signify?

The Wells Fargo Signify Business Cash Card is a World Elite Mastercard.

What is the credit limit on the Wells Fargo Signify?

There is no minimum or maximum credit limit you are guaranteed if approved for the Wells Fargo Signify Card. Wells Fargo will review your credit history and financial information to determine your credit limit which will be shared with you at the time your account is approved.

Please note that card details are accurate as of the publish date, but are subject to change at any time at the discretion of the issuer. Please contact the card issuer to verify rates, fees, and benefits before applying.

Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefits guide for more details. Underwritten by Amex Assurance Company.