What Are Wells Fargo Rewards Worth?
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If you have an eligible Wells Fargo credit card, you can earn Wells Fargo Rewards points, which are typically worth 1 cent each and can be redeemed for a variety of options such as cash back, travel and gift cards.
The Wells Fargo Rewards program offers value for consumers who want simplicity and like to redeem points to cover past purchases, get a check or share with family members. However, for consumers who prefer to optimize their rewards for maximum travel value, this rewards program falls short because you can’t transfer points to travel partners. If that’s your goal, you might prefer a program such as Chase Ultimate Rewards®.
Click below to learn more:
How to earn Wells Fargo Rewards points
The main way to earn Wells Fargo points is through a Wells Fargo credit card.
There’s currently one Wells Fargo credit card available online to new applicants that earns Wells Fargo Rewards: the Wells Fargo Active Cash® Card. Cardholders earn unlimited 2% cash rewards on purchases. Plus, earn a $200 cash rewards bonus after spending $1,000 in purchases in the first 3 months.
Though the Wells Fargo Active Cash® Card is marketed as a cash back credit card, the cash back you earn comes in the form of Wells Fargo Rewards points — which can be redeemed for cash back or other options.
Other credit cards that earn Wells Fargo Rewards, such as the Wells Fargo Propel American Express® card and the Wells Fargo Visa Signature® Card are no longer open for application on Wells Fargo’s website.
Wells Fargo also offers deals you can activate when logged into your credit card account. These allow you to earn extra cash back with a variety of merchants and services, such as Starbucks and Disney+.
The information related to the Wells Fargo Propel American Express® card and the Wells Fargo Visa Signature® Card has been independently collected by LendingTree and has not been reviewed or provided by the issuer of these cards prior to publication.
Value of Wells Fargo Rewards points
You can generally expect each Wells Fargo Rewards point to be worth 1 cent. A popular feature of the Wells Fargo Visa Signature® Card allowed cardholders to redeem points for 50% more value — 1.5 cents each — toward airfare. However, the application for that credit card is no longer available on the issuer’s site.
Unfortunately, unlike its top competitors — American Express, Chase and Capital One — Wells Fargo doesn’t offer any other options to increase your value of your points. There are no redemption bonuses through it’s currently available card, and you cannot transfer points to other loyalty programs. For this reason, Wells Fargo points are less valuable than these programs’ points.
Ways to redeem Wells Fargo Rewards points
Wells Fargo Rewards points are flexible and offer numerous redemption options, including:
Cash back
Perhaps the easiest way to redeem your Wells Fargo Rewards points for cash back is to cover eligible purchases on your credit card. This option allows you to select one or more recent purchases and get a statement credit for that amount, with just $1 being the minimum redemption.
You can also request a statement credit to your card or a paper check in the mail. Such redemptions can be done in $25 increments. If you have a qualifying Wells Fargo checking account or mortgage, you can redeem your rewards as a credit to that account (you must still make any regularly scheduled payments).
Finally, if you have a Wells Fargo ATM or debit card, you can redeem points for cash in $20 increments.
Travel
You can book travel via the Wells Fargo Rewards website, including flights, hotels, car rentals and more.
Gift cards
You can redeem points for gift cards in $25 increments. Examples of some of the merchants available include Airbnb, Amazon, Apple, CVS, Google Play, Home Depot, Hulu, PetSmart and DoorDash.
Merchandise
You can use points to shop online via the Wells Fargo Rewards website for items including school supplies, electronics and more. In addition, you can set up Pay with Rewards through PayPal, and redeem your credit card rewards to go toward online purchases with participating merchants when checking out with PayPal.
Sharing
A nice feature of the Wells Fargo Rewards program is that you can share your points in a variety of ways.
You can contribute toward a common goal by pooling rewards with family and friends who are also Wells Fargo customers, send rewards as a gift to someone who is a Wells Fargo customer or donate your rewards to charity starting at $25. The option to share rewards might not be as obvious as some of the other options — when you’re on the Wells Fargo Rewards site, you can get there through the following steps:
- Hover over “use rewards”
- Click on “redemption values”
- Tab over to “share rewards”
Wells Fargo Rewards vs. other credit card rewards programs
Wells Fargo Rewards offers consumers much to like. But how does it compare to rewards programs offered by other top credit card issuers? One thing that’s missing from Wells Fargo Rewards is the ability to transfer points to airline and hotel partners. If you’re a frequent traveler who prioritizes getting the best travel deals possible with your credit card rewards, being able to transfer points to partners is a key feature.
Consider the following cards and rewards programs if transferring points is important to you:
American Express® Gold Card
Rewards rate: Earn 4X Membership Rewards® Points at Restaurants, plus takeout and delivery in the U.S., and earn 4X Membership Rewards® points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X), and 3X Membership Rewards® points on flights booked directly with airlines or on amextravel.com. Terms apply. Points can be transferred to most of the issuer’s travel partners at a 1:1 rate.
Welcome offer: 60,000 Membership Rewards® points after you spend $4,000 on eligible purchases with your new Card within the first 6 months of Card Membership.
Annual fee: $250
To see rates and fees for the American Express® Gold Card please click here.
Capital One Venture Rewards Credit Card
Rewards rate: 2 Miles per dollar on every purchase, every day; 5 Miles on hotels and rental cars booked through Capital One Travel. Capital One miles can be transferred to most of the issuer’s travel partners at a 1:1 rate.
Sign-up bonus: Enjoy a one-time bonus of 75,000 miles once you spend $4,000 on purchases within 3 months from account opening, equal to $750 in travel.
Annual fee: $95
Chase Sapphire Preferred® Card
Rewards rate: 5x on travel purchased through Chase Ultimate Rewards®, 3x on dining and 2x on all other travel purchases. Chase Ultimate Rewards® can be transferred to any of the issuer’s airline and hotel partners at a 1:1 rate.
Sign-up bonus: Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®.
Annual fee: $95
Citi Premier® Card
Rewards rate: Earn 3X points per $1 spent at restaurants, supermarkets, gas stations, air travel and hotels and 1X per $1 spent on all other purchases. Citi ThankYou® Points can be transferred to most of the issuer’s travel partners at a 1:1 rate.
Sign-up bonus: Earn 60,000 bonus ThankYou® Points after you spend $4,000 in purchases within the first 3 months of account opening.
Annual fee: $95
To see rates and fees for the American Express® Gold Card please click here.