Wells Fargo Visa Signature Credit Card Review

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Welcome Offer

Earn 5x points on purchases

5x points on gas, grocery and drugstore purchases up to $12,500 in the first 6 months

Earn

5xPoints
Earn 5x points up to $12,500 on gas, grocery and drugstore purchases
1xPoints
Earn 1 point for every dollar spent on other purchases
50%Additional Point Value
Points are worth 50% more when redeemed for airfare
$0Annual Fee
No annual fee with this card

The Wells Fargo Visa Signature delivers brilliant benefits for frequent travelers thanks to a 50 percent bonus on point values when booking air travel with any airline through the Wells Fargo Go Far program. It's easy to rack up enough points in six months to pay for two round-trip domestic tickets (a $500 to $800 value), and the 0 percent APR introductory offer on balance transfers and purchases lets you save even more. Check out our write up below to see how to make the most of this card.

Rewards Highlights

  • No Annual Fee
  • 0% Introductory Purchase APR for 15 Months
  • 0% Introductory Balance Transfer APR for 15 Months

Expert Review

The Pros

  • No Annual Fee
  • 0% APR on Balance Transfers and Purchases

The Cons

  • No signup bonus

Recommended Credit Profile

Rates & Fees

  • Annual Fee$0
  • Intro Purchase APR0% for 15 months
  • Intro Balance Transfer APR0% for 15 months
  • Regular APR14.49% to 27.99%
  • Great ForTravelShoppingRestaurants
  • Regular Purchase APR14.49% to 27.99%
  • Regular Balance Transfer APR14.49% to 27.99%
  • Cash Advance APR25.99% to 27.99%
  • Balance Transfer Fee$5 or 3%
  • Cash Advance Fee$10 or 5%
  • Foreign Transaction Fee3%

The Signature Card's Unique Sign-Up Incentives

The Wells Fargo Visa Signature card offers a generous sign-up bonus. It provides 20,000 bonus rewards points when you spend $1,000 in the first three months, a comfortable mark to hit in exchange for reward points that can be very valuable, especially for travellers. All you have to do is spend $334 a month, which is easy enough to do if you simply cover you grocery bill or pick up the bar tab a few weekends with this card.

The sign-up bonus alone is good, but the Signature doesn't stop there. What really makes this card stand out is that it provides a unique incentive of five points per dollar on gas, grocery and drugstore purchases — up to a maximum spend of $12,500 — during the first six months after opening your account.

The cash back value of those points is a penny each. You need 100 points for $1 in value, and 1,000 points is worth $10. But if you use your points on air travel, they're worth 1.5 cents. That means 1,000 points is worth $15.

Not sure how those numbers benefit you? Let's look at a real world example.

  • Suppose you were to spend $600 on groceries, $170 on gas and $400 at the drugstore every month. That's 5,850 points per month for the first six months, or 35,100 points.
  • The cash back value of those points is $351.
  • However, spend those points on airfare, and you'd have an equivalent value of $526.50.
  • If you wanted to factor in the additional 20,000 points from your sign-up bonus, the value climbs to a considerable $826.50 in airfare value. That's enough for one first-class round-trip flight in the United States or two round-trip domestic economy plus flights. Just using your card to cover normal living expenses could net you free flights to Vegas or New York City.

It's that kind of value that makes this card incredibly attractive, especially since the Signature offers these strikingly high up-front bonuses without charging an annual fee. After the six-month opening period, points accrue dollar-for-dollar no matter the nature of the purchase, but that added value for airfare booking stays in place.

Flexible Options For Redeeming Your Points

The Wells Fargo Visa Signature card doesn't restrict which airlines you can redeem your points with, and it doesn't impose any blackout dates. The only restriction is that you need to redeem the points through Wells Fargo's Go Far program.

You can also pool or gift your own rewards with other Go Far customers, and while the points do have an expiration date, it's a very generous five-year window.

Points can of course be redeemed across plenty of other categories, too, from hotel stays to merchandise to car rentals, gift cards and straight cash back. Point values in these other categories vary, so it pays to be alert and make conscious decisions to maximize how far your dollar goes.

0 Percent APR Introductory Offer

As if a sweet rewards and bonus structure wasn't enough, the Wells Fargo Visa Signature comes with a 0 percent APR introductory offer for up to 15 months on both balance transfers and purchases. That means you can finance a large purchase (such as a new computer, appliance or above ground pool) without paying interest. But you do get one rewards point for every dollar spent, so you can double up on perks.

You might also transfer a balance from an existing high-interest credit card, paying it off over 15 months and saving hundreds in interest payments. If you make a purchase or transfer a balance for $3,000, you could pay the balance off in 15 months by paying $200 a month.

Other Benefits of the Signature Card

In addition to its other remarkable features, the Wells Fargo Visa Signature card offers an impressive array of further perks and benefits, again focusing heavily on the needs of travelers. Free concierge service, upgrades with luxury hotel partners, discounted roadside dispatch and car rental collision damage waivers, lost luggage and lost or damaged cell phone reimbursement, and travel and emergency assistance services are all part of the package. They're clearly aimed at making the travelling life easier, safer and more convenient.

Other benefits include purchase protection, extended warranties on certain purchased items, price difference refunds, EMV chip technology, and free access to your credit score through Wells Fargo Mobile.

Fees Associated With the Card

While the Wells Fargo Visa Signature card doesn't charge an annual fee, it does charge for other things:

  • Balance Transfer fees run to $5 or 3 percent of the transferred amount in the first twelve months, and after that go up to $10 or 5 percent of transferred amounts, whichever is higher.
  • There's a foreign transfer fee of 3 percent, in US dollars, of any international currency transaction, making the card more useful for getting to other countries than shopping there.
  • Cash advance fees can run from 25 percent up to 27 percent.

The fee structure makes clear that the Signature card is not really designed as a multi-tasking credit product. It's created to deliver extraordinary values on airfare even after its impressive sign-up incentives expire, and if that's what you're looking for, keeping a Wells Fargo Visa Signature card in your wallet should be an easy decision.

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