The Top Wells Fargo Business Credit Cards

Wells Fargo is a well-known bank that offers a range of business credit cards to suit different needs and preferences. The Wells Fargo Business Credit Card account provides a convenient way for businesses to manage expenses and track spending, while the Wells Fargo Business Secured Credit Card is a good option for businesses with limited or poor credit history. The Wells Fargo Business Card Rewards program allows businesses to earn rewards on purchases made with their card.

As a business owner, you may be wondering which Wells Fargo business credit card is right for your company. The answer depends on your specific needs and financial situation. If you have limited or poor credit history, the Wells Fargo Business Secured Credit Card may be the best option for you. This card requires a security deposit but can help you build or improve your credit score over time.

On the other hand, if you have good credit and want to earn rewards on your business purchases, the Wells Fargo Business Card Rewards program may be more appealing. With this program, you can earn points on every dollar spent with your card and redeem them for travel, merchandise, gift cards, and more.

Regardless of which Wells Fargo business credit card you choose, it's important to take advantage of their online banking platform to manage and monitor your account activity. This platform provides easy access to not only manage your business credit card but also other banking services such as checking accounts.

Overview of Wells Fargo Business Credit Card

Benefits of Wells Fargo Business Credit Cards

Flexible Spending Limits

Wells Fargo business credit cards offer customizable spending limits for employee cards, making it easy to manage expenses and control cash flow. This feature is especially useful for businesses that need to keep a close eye on their finances.

Fraud Protection

Wells Fargo provides advanced fraud protection features such as real-time alerts, zero liability protection, and 24/7 monitoring. These features help businesses safeguard against fraudulent transactions and unauthorized charges.

Online Account Management

Managing a business credit card account has never been easier with Wells Fargo's online account management tools. Businesses can view statements, make payments, set up automatic payments, and track expenses all in one place.

Rewards Programs

Both the Wells Fargo Business Platinum Credit Card and the Wells Fargo Business Elite Card offer rewards programs that allow businesses to earn points or cash back on eligible purchases. Rewards can be redeemed for travel, merchandise, gift cards, or statement credits.

Low Interest Rates and Fees

Wells Fargo offers competitive interest rates and fees on their business credit cards. This makes them an affordable option for businesses looking to finance large purchases or manage ongoing expenses.

Credit Score Monitoring Tools

Wells Fargo provides free access to FICO® Credit Score monitoring tools to help businesses stay on top of their credit score. This feature is especially useful for businesses looking to improve their creditworthiness over time.

Build Business Credit

Navy Federal Business Credit Card

Truist Business Line Of Credit

Applying for Wells Fargo Business Platinum Card

Personal and Business Information Required

To apply for the Wells Fargo Business Platinum Card, business owners are required to provide their personal and business information. This includes their name, address, phone number, tax ID number, and annual revenue. The application process is straightforward and can be completed online or in-person at a Wells Fargo branch.

Account Opening Date Determines Interest Rate

The account opening date for the Wells Fargo Business Platinum Card will determine the announced prime rate that will be used to calculate the interest rate on the card. This means that it is important to consider when you plan to open your account as it could affect your interest rates in the future.

Rewards Program Offered

The Wells Fargo Business Platinum Card offers rewards such as cash back or points for every dollar spent on eligible purchases. These rewards can be redeemed for travel, gift cards, merchandise, or statement credits. The rewards program is an excellent way for business owners to manage their expenses while earning valuable rewards.

Consider the Wells Fargo Business Elite Signature Card

Business owners who want more rewards and benefits should consider the Wells Fargo Business Elite Signature Card. This card offers higher rewards rates and additional perks like travel insurance and purchase protection. While this card has an annual fee of $125, it may be worth it if you plan on using your credit card frequently.

Accepted Credit Scores for Wells Fargo Business Credit Card

Credit Scores for Wells Fargo Business Credit Card

Credit scores are an essential factor in determining creditworthiness. A credit score is a numerical representation of your credit history, which lenders use to assess the risk of lending you money. For businesses, having access to credit can be crucial for growth and expansion. The Wells Fargo Business Credit Card is one such option that businesses can consider.

Minimum Credit Score Requirement

Wells Fargo Business Credit Card requires a minimum credit score of 640 for approval. This means that if your business has a credit score below 640, it may not qualify for the card. However, meeting this requirement does not guarantee approval as other factors such as income and debt-to-income ratio also come into play.

The Importance of Excellent Credit

Having an excellent credit score above 720 increases the chances of getting approved for a higher credit limit with Wells Fargo Business Credit Card. It's important to note that even if you meet the minimum requirement, having an excellent credit score will give you more leverage when negotiating terms with lenders.

Maintaining Good Credit History

In addition to having a good credit score, maintaining a good payment history is equally important. Late payments or delinquencies on any existing loans or debts can negatively impact your chances of getting approved for new lines of credit. Therefore, it's essential to ensure timely payments on all accounts.

Existing Wells Fargo Accounts

If your business already has an existing account with Wells Fargo in good standing, this could positively impact your chances of getting approved for their business credit card. Lenders often prefer working with customers who have established relationships and proven track records.

Setting Spending Limits and Accessing Spending Reports

Controlling your spending is crucial to managing your finances properly. Wells Fargo Business Credit Card provides you with the option of setting spending limits for each account, allowing you to keep track of your expenses and avoid overspending.

To earn rewards, there is a spend requirement that must be met within the first three months of opening an account. The amount varies depending on the card type, but it is usually within stated ranges. Once you meet this requirement, you can start earning rewards for every dollar spent using your credit card.

Accessing spending reports is easy with Wells Fargo Business Credit Card. You can do this through the online account or mobile app, which allows you to view all transactions made using your credit card. This feature gives you an overview of where your money goes and helps you identify areas where you need to cut back on spending.

WalletHub is another tool that provides a detailed report of your card's spending activity. It shows how much money was spent in different categories such as travel, dining, entertainment, etc., making it easier for you to track specific expenses and adjust accordingly.

Adjusting spending limits during the monthly billing period is possible with Wells Fargo Business Credit Card. However, it should be noted that balance transfers are excluded from this feature. Cancelling rewards programs may also affect the limit set for your account.

Supercheckstm transactions are not included in the total amount spent when calculating whether or not the spend requirement has been met. It's important to keep this in mind when tracking expenses and meeting requirements for earning rewards.

Adding or Removing Guest User Online Access and Account Login

Adding Guest User Online Access and Account Login

Wells Fargo Business Credit Card offers the convenience of adding guest users for online account access. The process is simple and easy. All you need to do is provide the guest user's name, email address, and select the level of account access. Once added, the guest user can log in to your account using their own username and password.

Guest users have limited account access, which means they cannot make changes to your primary account holder's information or settings. However, they can view your account activity, balances, statements, and payment history. This feature is particularly useful if you want to give someone temporary access to your account without sharing your login credentials.

Removing Guest User Online Access and Account Login

If you no longer want a guest user to have access to your Wells Fargo Business Credit Card online account, you can easily remove them through the online account management portal. Simply log in to your account and go to the "Manage Users" section. From there, select the guest user you wish to remove and click on "Remove User."

It's important to note that removing a guest user will revoke their online access immediately. Therefore, it's crucial that you only add trusted individuals as guest users who require temporary access.

Benefits of Adding Guest User Online Access

Adding a guest user for online account access has several benefits:

Requirements for Wells Fargo BusinessLine® and Small Business Advantage® Line of Credit

Eligible Business Checking Account

To apply for a Wells Fargo Small Business Advantage Line or BusinessLine of Credit, an eligible business checking account is required. This means that the applicant must have an existing business checking account with Wells Fargo Bank. If the applicant does not have one, they can open a new account online or at any Wells Fargo branch.

Business Credit Evaluation

Wells Fargo requires a business credit evaluation as part of the application process for Small Business Advantage Line and BusinessLine of Credit. The bank will evaluate the creditworthiness of the applicant's business by reviewing its credit history, cash flow, and other financial factors. A good credit score is important to qualify for these lines of credit.

Conditional Approval Terms

Small businesses with insufficient credit history or cash flow may still be eligible for conditional approval terms. These terms are designed to help small businesses get access to financing even if they do not meet all the standard requirements. Conditional approval terms may include lower credit limits or higher interest rates than those offered to businesses that meet all eligibility requirements.

QuickBooks Integration

Wells Fargo offers QuickBooks integration to help manage business accounts and loans. QuickBooks is a popular accounting software used by many small businesses to manage their finances. By integrating with QuickBooks, small business owners can easily track their loan balances, payments due dates, and other important financial information in one place.

Personal Credit vs. Business Credit

It's important to note that while personal credit may be considered during the application process, it is not the only factor that determines eligibility for Small Business Advantage Line and BusinessLine of Credit. The bank primarily evaluates the applicant's business creditworthiness based on its own criteria.

Receiving Card, Passcode, Alerts, and Mobile Numbers

Receiving Your Card and Passcode

Upon approval of a Wells Fargo Business Credit Card application, cardholders can expect to receive their card through mail or at a branch location. Once the card is received, it must be activated before use. To activate the card, a passcode is required and can be obtained by calling the phone number provided on the card carrier. It is important to note that the time passcode expires after a certain period of time, so it's best to activate your card as soon as possible.

Managing Employee Cards

For business owners who need to provide employee cards, Wells Fargo makes it easy to request and manage them. Employee cards can be requested and managed through the primary cardholder's online account or by calling customer service. Alerts can be set up for each individual employee card to monitor activity and ensure proper usage.

Setting Up Alerts and Automatic Payments

Wells Fargo offers various options for managing credit card activity, including setting up alerts for purchases, balance transfers, and payments. These alerts can be set up through the online account or mobile app. Automatic payments can also be set up for individual billing or for the entire account balance with options to choose payment amounts and frequency.

Initiating Balance Transfers

Balance transfers are another option available to Wells Fargo Business Credit Card holders looking to manage their finances more effectively. They can be initiated through the online account or by calling customer service with a fee of either $5 or 3% of the transfer amount (whichever is greater) and a 0% APR for the first 9 months. This option allows businesses to consolidate debt from other credit cards into one manageable payment.

Redeeming Points

Wells Fargo Business Credit Card holders have access to rewards points that can be redeemed for gift cards, travel rewards, merchandise, cash back deposits into checking accounts, and more. To redeem points earned through purchases made with your Wells Fargo Business Credit Card, simply sign in to your online account and choose the option that best suits your needs.

Travel and Shopping Benefits and Protections

Traveling can be an exciting adventure, but it's important to have the right protections in place. With a Wells Fargo Business Credit Card, you can enjoy travel benefits that include travel accident insurance, auto rental collision damage waiver, and emergency assistance services. These benefits provide peace of mind when traveling for business or pleasure.

Travel Accident Insurance

The travel accident insurance provided by Wells Fargo Business Credit Cards is designed to protect cardholders in the event of an accident while traveling. This coverage includes accidental death and dismemberment benefits up to $500,000 per person. If you or your employees frequently travel for business purposes, this benefit can be invaluable.

Auto Rental Collision Damage Waiver

Renting a car can be stressful, especially if you're worried about potential damages to the vehicle. With the auto rental collision damage waiver benefit provided by Wells Fargo Business Credit Cards, you can rent with confidence knowing that you're covered in case of an accident or theft. This coverage applies to most rental vehicles and can save you hundreds of dollars on collision damage waivers offered by rental car companies.

Emergency Assistance Services

When traveling abroad, emergencies can happen at any time. That's why Wells Fargo Business Credit Cards offer 24/7 emergency assistance services to help cardholders with medical referrals and legal referrals while traveling outside their home country. This service also provides pre-trip planning assistance such as passport replacement or visa information.

Purchase Protection

In addition to travel benefits, Wells Fargo Business Credit Cards also offer shopping benefits that include purchase protection, extended warranty coverage, and price protection. Purchase protection covers eligible items against theft or damage within 90 days of purchase up to $10,000 per claim and $50,000 per account per year.

Extended Warranty Coverage

With extended warranty coverage from Wells Fargo Business Credit Cards, eligible purchases are automatically extended beyond the manufacturer's original warranty period up to one additional year on warranties of three years or less. This coverage can save you money on costly repairs or replacements.

Price Protection

Wells Fargo Business Credit Cards also offer price protection, which means that if you find a lower price for an eligible item within 60 days from the date of purchase, you may be reimbursed for the difference up to $250 per claim and $1,000 per account per year. This benefit helps ensure that you're getting the best deal possible on your purchases.

Rewards Program

Qualifying purchases made with Wells Fargo Business Credit Cards earn rewards points that can be redeemed for travel, merchandise, or cash back. New cardholders who meet certain spending requirements within the first few months of opening the account are eligible for bonus points. Established businesses can save money on business expenses with discounts on select services and products.

Overdraft Protection

Overdraft protection is available to help prevent overdraft fees on business accounts. With this service, funds are automatically transferred from a linked account to cover any overdrafts on your Wells Fargo Business Credit Card account.

Getting a Cash Advance with Wells Fargo Business Platinum Card

Cash Advances with Wells Fargo Business Platinum Card

Cash advances can be a useful tool to access quick cash when needed. If you have a Wells Fargo Business Platinum Card, you can obtain cash advances up to your available credit limit. In this section, we will discuss the details of getting a cash advance with your Wells Fargo Business Platinum Card.

Cash Advance Limit

The amount of cash advance you can get is determined by your credit limit and available cash advance credit. You can check your available cash advance credit on your monthly statement or through online banking. It's important to note that the amount of cash advance cannot exceed the available credit limit.

Fees and Interest

There is a fee for each cash advance transaction, either $10 or 5% of the amount advanced, whichever is greater. This fee will be added to your balance immediately after the transaction takes place. Interest accrues immediately from the date of the transaction; there is no grace period for cash advances. This means that if you take out a $500 cash advance on January 1st and pay it back on February 1st, you will still owe interest for the entire month of January.

Current Payment Due

It's essential to remember that any outstanding balance from a cash advance will be included in your current payment due. This means that if you don't pay off the full balance by the due date, you'll incur additional fees and interest charges.

Tips for Using Cash Advances Responsibly

While it may be tempting to use a cash advance as an easy way to access funds quickly, it's crucial to use them responsibly. Here are some tips:

Frequently Asked Questions (FAQs)

Fee: What are the fees associated with the Wells Fargo Business Credit Card?

Wells Fargo Business Credit Card has an annual fee of $0 to $25, depending on the type of card you choose. The cash advance fee is either $10 or 5% of each transaction, whichever is greater. There is a foreign currency conversion fee of 3% for transactions made outside the United States.

Terms and Conditions: What are the terms and conditions for the card, including rates and introductory APR?

The interest rate for purchases and balance transfers varies between 11.15% to 22.99%, depending on your creditworthiness. There is also an introductory APR period that ranges from 0% to 12 months, depending on the type of card you choose. After this period ends, your interest rate will revert to the standard variable rate.

Customer Service: How can I contact customer service for additional information or to review my account?

If you have any questions about your Wells Fargo Business Credit Card account or need additional information, you can contact customer service by phone at 1-800-225-5935. You can also log in to your online account to access support resources or send a secure message through their website.

Customer Agreement: Where can I find the customer agreement for the Wells Fargo Business Credit Card?

You can find a copy of the Wells Fargo Business Credit Card customer agreement on their website under "Account Agreements and Disclosures." This document outlines all terms and conditions related to using your credit card.

Annual Fee and Offers: Is there an annual fee for the card, and are there any offers or points available for new applicants?

As previously mentioned, there is an annual fee that ranges from $0 to $25 depending on which card you choose. However, there are no rewards points offered with this credit card.

Application Process: How long does the application process typically take, and what is required to apply?

The Wells Fargo Business Credit Card application process typically takes between 5-10 minutes to complete online. You will need to provide basic information about your business, including its legal name, address, and tax identification number. You will also need to provide information about yourself, such as your name, Social Security number, and date of birth.

Subject-Related Closing or Change Policies: Are there any subject-related closing or change policies that I should be aware of?

Wells Fargo reserves the right to close your account if you do not make payments on time or if you violate any terms outlined in the customer agreement. They may also change the terms of your credit card at any time with notice.

Relationship Back Option: What is the relationship back option, and how does it work?

The relationship back option allows you to earn a rebate on interest charges paid during a billing cycle if you have a qualifying Wells Fargo checking account. This rebate is applied as a statement credit towards your next billing cycle.

Review: Can you provide a review of the Wells Fargo Business Credit Card after using it for several months?

As an AI language model, I cannot personally use credit cards nor can I provide reviews based on personal experience. However, there are many online resources available where customers have shared their experiences with this credit card. It's important to read reviews from multiple sources before making a decision about which credit card is right for you.

Conclusion on Wells Fargo Business Credit Card

Wells Fargo Business Credit Card is a reliable financial tool for businesses of all sizes. With its numerous benefits, it provides an excellent opportunity for entrepreneurs to manage their finances and grow their businesses.

Applying for the Wells Fargo Business Platinum Card is a straightforward process that can be done online or in-person. The accepted credit scores for the card are reasonable, making it accessible to many business owners. Once approved, users can set spending limits and access spending reports easily.

Adding or removing guest user online access and account login is also a simple task that can be completed with just a few clicks. Requirements for Wells Fargo BusinessLine® and Small Business Advantage® Line of Credit are clearly outlined, making it easy to determine if these options are right for your business.

Receiving the card, passcode, alerts, and mobile numbers is quick and efficient, ensuring that you have immediate access to your funds when you need them. The travel and shopping benefits and protections offered by the card provide added peace of mind when conducting business transactions.

Getting a cash advance with Wells Fargo Business Platinum Card is also possible in case of emergencies or unexpected expenses. However, it's important to understand the terms and fees associated with this option before utilizing it.

Overall, Wells Fargo Business Credit Card offers numerous benefits that make it an excellent choice for businesses looking to manage their finances effectively. By understanding the requirements and utilizing the available tools, entrepreneurs can take advantage of this financial tool to grow their businesses successfully.

In conclusion on Wells Fargo Business Credit Card - Whether you're just starting out or have been in business for years, this credit card provides valuable features that help streamline operations while providing essential financial support. With its accessibility, convenience, security features as well as travel protection benefits among others; there's no doubt that this credit card is worth considering as part of your overall financial strategy.