Wells Fargo Business Credit Cards

3 min read • Nov 26, 2020 • Derek Miller

When you first launch your business, you will need to spend money on necessities and expenses. From equipment costs and marketing to basic needs like inventory and business registration, you need a reliable credit card to get your company moving. 

There are multiple Wells Fargo credit card options to choose from depending on your needs, rewards goals, and credit score. Here’s what you need to know. 

Wells Fargo Business Platinum Credit Card

The Wells Fargo Business Platinum Credit Card is a basic credit card meant for businesses with annual sales up to $2 million. It is meant to cover everyday expenses, and you can choose whether you want cash back or rewards points. This means you can opt for a $500 cashback bonus or 50,000 bonus points when you enroll and spend $5,000 within the first 3 months. 

  • Annual Fee: $0 annually
  • Employee Cards: Up to 99 employee cards
  • APR: 0% APR introductory rate for the first 9 months
  • Interest Rate: Variable between Prime +7.99% and +17.99%
  • Cashback: 1.5% on every $1 spent (for the rewards points option: earn 1 point for every $1 spent and earn 1,000 bonus points when you spend more than $1,000 in a monthly billing period) 

Wells Fargo Business Secured Credit Card

Business owners who opt for the Wells Fargo Business Secured Credit Card are likely just starting out and have no commercial credit history. You can request a $500–$25,000 credit line based on the amount you deposit. This card works more like a debit card or business line of credit than a traditional unsecured credit card. Wells Fargo will periodically review your credit to see if you qualify for an upgrade to an unsecured credit card.  

  • Annual Fee: $25 per card
  • Employee Cards: Up to 10 employee cards
  • Interest Rate: Prime +11.90% on purchases
  • Cashback: 1.5% on every $1 spent (for the rewards points option: earn 1 point for every $1 spent and earn 1,000 bonus points when you spend more than $1,000 in a monthly billing period)

Wells Fargo Business Elite Signature Card

The Wells Fargo Business Elite Signature Card is the elite card offering for enterprises. It is meant for companies with annual sales greater than $1 million where several employees will need their own cards. Like the other unsecured credit card option, you can choose between cash back rewards or points. With this card, you get a $1,000 cashback bonus or 100,000 bonus points when you spend $25,000 in the first 3 months. This card also has a much lower interest rate because the risk of lending to an established organization is lower than lending to a startup or new small business

  • Annual Fee: $0 and then $125 annually
  • Employee Cards: Up to 200 employee cards
  • Interest Rate: Prime +3.99%
  • Cashback: 1.5% on every $1 spent (for the rewards points option: earn 1 point for every $1 spent and earn 5,000 bonus points when you spend more than $10,000 in a monthly billing period)

Use this guide as a jumping-off point for your business credit card research. While you may opt for a Wells Fargo business credit card because you already bank with that financial institution, business credit cards from other companies could offer more favorable terms or perks.

Derek Miller

Derek Miller is a writer specializing in entrepreneurship, small business, and digital marketing. His work has featured in sites like Entrepreneur, GoDaddy, Score.org, and StartupCamp. He’s currently the CMO of Smack Apparel, the content guru at Great.com, and a marketing consultant for small businesses.