Best Wells Fargo Business Credit Cards for 2022
Tricia has nearly two decades of experience in commercial and federal government lending. Her expertise is highlighted throughout small business loan content on Fit Small Business.
Benilyn has over a decade of experience as a banking officer. Her expertise is featured throughout Fit Small Business in personal finance, credit card, and real estate investing content.
This article is part of a larger series on Best Small Business Credit Cards.
Wells Fargo offers three types of business credit cards: a card for companies with many employees, a card with no annual fee, and a card for building credit. These offer a 1.5% cash back and an option to earn points rewards. Wells Fargo credit cards are best for business owners who don’t want to have their activities reported to personal credit bureaus.
Here are the best Wells Fargo business credit cards:
- Wells Fargo Business Platinum Credit Card: Best for zero annual fees and 0% introductory annual percentage rate (APR)
- Wells Fargo Business Elite Signature Card: Best for businesses that want robust employee spending controls
- Wells Fargo Business Secured Credit Card: Best for establishing or rebuilding business credit
You may also want to check out our Best Small Business Credit Cards Guide to see other business credit card options.
Want to compare the features of one card to another? We’ve made it easy for you to do just that! Simply check off up to three cards on this page to add them to your cart. This will allow you to view the details in a side-by-side comparison.
Wells Fargo Business Platinum Credit Card: Best for Zero Annual Fee & 0% Introductory APR
Wells Fargo Business Platinum Credit Card
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Choosing cash back or points rewards with no annual fee
Intro APR
0%
Regular APR
12.74% - 22.74% Variable
Annual Fee
$0
Credit Needed
Excellent
- Get a one-time $300 cash back bonus or 30,000 bonus points when you enroll in the Business Card Rewards Program and spend $3,000 in the first three months of account open date
- Earn 1.5% cash back on every $1 spent
- Earn 1 point on every $1 spent and receive 1,000 bonus points when your company spend is $1,000 or more in any monthly billing period
- No annual card fee, plus up to 99 employee cards (no additional fee)
- Cash management tools
- Spending reports available online
- Online banking and bill payment options
Pros
- Excellent introductory bonus offer
- No-interest financing period
- Ongoing bonus rewards for meeting monthly spending requirements
- Register employee cards with no additional fees
Cons
- Low ongoing rewards
- Airline ticket redemption fees
- Points have an expiration
- Purchase security: Wells Fargo offers coverage for purchased items that have been damaged or stolen within 90 days of purchase. They may repair, replace, or reimburse you for the items. Coverage is limited to $10,000 per item and up to $50,000 per year.
- Wells Fargo design studio: Wells Fargo allows you to design your card by uploading an image that represents your company. For example, the image could be your business logo or storefront.
Intro APR
0%
Regular APR
12.74% - 22.74% Variable
Annual Fee
$0
Credit Needed
Excellent
- Get a one-time $300 cash back bonus or 30,000 bonus points when you enroll in the Business Card Rewards Program and spend $3,000 in the first three months of account open date
- Earn 1.5% cash back on every $1 spent
- Earn 1 point on every $1 spent and receive 1,000 bonus points when your company spend is $1,000 or more in any monthly billing period
- No annual card fee, plus up to 99 employee cards (no additional fee)
- Cash management tools
- Spending reports available online
- Online banking and bill payment options
Pros
- Excellent introductory bonus offer
- No-interest financing period
- Ongoing bonus rewards for meeting monthly spending requirements
- Register employee cards with no additional fees
Cons
- Low ongoing rewards
- Airline ticket redemption fees
- Points have an expiration
- Purchase security: Wells Fargo offers coverage for purchased items that have been damaged or stolen within 90 days of purchase. They may repair, replace, or reimburse you for the items. Coverage is limited to $10,000 per item and up to $50,000 per year.
- Wells Fargo design studio: Wells Fargo allows you to design your card by uploading an image that represents your company. For example, the image could be your business logo or storefront.
Who is Wells Fargo Business Platinum Credit Card Best For?
The Wells Fargo Business Platinum Credit Card is best for owners who want to earn fixed-rate rewards without having to pay an annual fee. It offers a 0% introductory APR on purchases and balance transfers for the first nine months of opening an account as well as a sign-up bonus of $300 cash back or 30,000 points. The Wells Fargo Business Platinum Credit Card is a revolving credit option for everyday business expenses that’s ideal for businesses with annual sales of up to $2 million and those that need up to 99 employee cards.
The Wells Fargo Business Platinum Credit Card offers 1,000 bonus points when you spend $1,000 or more in any monthly billing period. This card is a good option if your company spends at least $1,000 but not more than $9,999 per month. If you have at least $10,000 monthly expenses, you may benefit more from Wells Fargo Business Elite Signature Card.
Wells Fargo Business Platinum Credit Card Fees
- Introductory APR: 0% APR for nine months on purchases and balance transfers
- Ongoing APR: Prime rate plus 7.99% to prime rate plus 17.99%, variable
- Annual fee: $0
- Balance transfer fee: Varies
- Foreign transaction fee: $0
- Cash advance fee: 4% or $10 minimum ($175 maximum)—cash advance APR is the prime rate plus 20.74%
Why We Like Wells Fargo Business Platinum Credit Card
- $0 annual fee: This card charges no annual fee while letting you earn cash back or points rewards for all business-related purchases.
- 0% introductory APR: You can enjoy interest-free financing on purchases and balance transfers for the first nine months of opening an account.
- No foreign transaction fee: This card does not charge foreign transaction fees on purchases made outside of the United States.
- Sign-up bonus: You can earn a one-time bonus of $300 or 30,000 points after you spend at least $3,000 within the first three months of opening an account.
- Cash back or points rewards option: You can choose your preferred form of rewards—either cash back or points rewards. You can earn a fixed 1.5% cash back or one point per dollar on qualifying purchases.
- Bonus points: If you choose to earn points, you can earn 1,000 bonus points every billing cycle if you spend at least $1,000 in a month.
- Up to 99 free employee cards: You can have up to 99 employee cards at no additional cost, making this an ideal option if you have employees.
What’s Missing From Wells Fargo Business Platinum Credit Card
The 0% introductory APR period offered by the Wells Fargo Business Platinum Credit Card, which is only for nine months, is shorter compared to most other small business credit cards. If you are looking for a longer 0% introductory rate period, consider any of the best 0% APR business credits cards.
Wells Fargo Business Elite Signature Card: Best for Robust Employee Spending Controls
Wells Fargo Business Elite SignatureCard®
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Businesses with over $1 million in annual sales
Intro APR
N/A
Regular APR
7.49% (Prime + 3.99%) on purchases
Annual Fee
$75 annual rewards program fee, waived the first year
Credit Needed
Excellent
- Get a one-time $1,000 cash back bonus or 100,000 bonus points when you enroll in the Business Elite Card Rewards Program and spend $15,000 in the first three months of account open date; $75 annual rewards program fee waived for the first year
- Earn 1.5% cash back on every $1 spent
- Earn 1 point on every $1 spent and receive 5,000 bonus points when your company spend is $10,000 or more in any monthly billing period
- No foreign transaction fee
- Up to 200 employee cards
- Bill payment options
- Online Business reporting tool
- $0 additional card fee
Pros
- Low ongoing APR
- Up to 200 free employee cards
- Spending controls
Cons
- No introductory APR
- Offers no bonus category rewards
- Cannot apply online
- Spending controls: Set transaction limits, time limits, and spending category restrictions on any employee card.
- Business Elite online reporting: Review and track business analytics and spending habits conveniently.
- Auto rental collision damage waiver: Receive coverage for stolen or damaged rental vehicles, when you waive the rental car merchant’s insurance, up to the cash value of the vehicle.
- Purchase security: Get items repaired or replaced that were damaged or stolen within 90 days of purchase, or get reimbursed for the value of the item, up to $10,000 per claim and $50,000 per year.
- Extended warranty protection: Visa will double the length of warranty protection offered by the manufacturer, up to one year, for warranties of three years or less.
- Travel and emergency assistance: The cardholders, their spouse, and dependents get free access to emergency, medical, travel, and legal assistance 24 hours a day.
Intro APR
N/A
Regular APR
7.49% (Prime + 3.99%) on purchases
Annual Fee
$75 annual rewards program fee, waived the first year
Credit Needed
Excellent
- Get a one-time $1,000 cash back bonus or 100,000 bonus points when you enroll in the Business Elite Card Rewards Program and spend $15,000 in the first three months of account open date; $75 annual rewards program fee waived for the first year
- Earn 1.5% cash back on every $1 spent
- Earn 1 point on every $1 spent and receive 5,000 bonus points when your company spend is $10,000 or more in any monthly billing period
- No foreign transaction fee
- Up to 200 employee cards
- Bill payment options
- Online Business reporting tool
- $0 additional card fee
Pros
- Low ongoing APR
- Up to 200 free employee cards
- Spending controls
Cons
- No introductory APR
- Offers no bonus category rewards
- Cannot apply online
- Spending controls: Set transaction limits, time limits, and spending category restrictions on any employee card.
- Business Elite online reporting: Review and track business analytics and spending habits conveniently.
- Auto rental collision damage waiver: Receive coverage for stolen or damaged rental vehicles, when you waive the rental car merchant’s insurance, up to the cash value of the vehicle.
- Purchase security: Get items repaired or replaced that were damaged or stolen within 90 days of purchase, or get reimbursed for the value of the item, up to $10,000 per claim and $50,000 per year.
- Extended warranty protection: Visa will double the length of warranty protection offered by the manufacturer, up to one year, for warranties of three years or less.
- Travel and emergency assistance: The cardholders, their spouse, and dependents get free access to emergency, medical, travel, and legal assistance 24 hours a day.
Who is Wells Fargo Business Elite Signature Card Best For?
The Wells Fargo Business Elite Signature Card is an excellent option for businesses with annual sales of over $1 million and those that need up to 200 employee cards. This is also best for businesses that want to earn fixed-rate cash back or points rewards and want spending controls on employee cards.
The Wells Fargo Business Elite Signature Card does not offer a 0% introductory APR. If you need to finance a large purchase and want to take advantage of interest-free financing, this card may not be right for you. This card is best for businesses that can spend at least $10,000 monthly to take advantage of the 5,000 bonus points per billing period. If you spend less than $10,000 per month, you may benefit more from the Wells Fargo Business Platinum Credit Card.
Wells Fargo Business Elite Signature Card Fees
- Introductory APR: None
- Ongoing APR: Prime rate plus 3.99%
- Annual fee: $125, waived the first year
- Balance transfer fee: Varies per account
- Foreign transaction fee: None
- Cash advance fee: 4% or $10, whichever is greater—cash advance APR is the prime rate plus 20.74%
Why We Like Wells Fargo Business Elite Signature Card
- No foreign transaction fee: You can make purchases made outside of the US using your card and enjoy zero foreign transaction fees.
- Sign-up bonus: You can earn a one-time bonus of $500 or 50,000 points after you spend at least $15,000 within the first three months of opening an account.
- Cash back or points rewards option: You can choose your preferred form of rewards—either cash back or points rewards. You can earn a fixed 1.5% cash back or one point per dollar on all eligible purchases.
- Bonus points: If you choose to earn points, you can earn 5,000 bonus points every billing cycle if you spend at least $10,000 in a month.
- Up to 200 free employee cards: You can have up to 200 employee cards at no additional cost, making this an excellent alternative if you need that number of free employee cards.
- Travel incident fee reimbursement: You can get up to $100 travel incident fee reimbursement per calendar year, per company.
What’s Missing From Wells Fargo Business Elite Signature Card
The Wells Fargo Business Elite Signature Card does not offer 0% introductory APR on both purchases and balance transfers. It also charges an annual fee of $125, though it’s waived for the first year. For a card that charges annual fees, the cash back rate of 1.5% is quite small compared to other cash back business credit cards. If you are looking for better offer, check out our best cash back business credit cards list for more options.
Wells Fargo Business Secured Credit Card: Best for Building Business Credit
Wells Fargo Business Secured Credit Card
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Business owners with poor credit
Intro APR
N/A
Regular APR
Prime + 11.90% on purchases
Annual Fee
None
Credit Needed
N/A
- Cash Back option:
Earn 1.5% cash back on every $1 spent - Reward Points option:
Earn 1 point on every $1 spent and receive 1,000 bonus points when your company spend is $1,000 or more in any monthly billing period - $0 annual rewards program fee
- $500 to $25,000 credit line
- Zero liability protection
Pros
- Businesses with low or bad credit scores can qualify
- Your choice of fixed-rate cash back or points rewards
- No annual fee
Cons
- Requires a security deposit of at least $500
- Credit limit will be based on the security deposit
- Purchase assurance: Wells Fargo will repair, replace, or reimburse you for items that are damaged or stolen within 90 days of purchase.
- Design studio: Include a personal image or business design on your credit card.
Intro APR
N/A
Regular APR
Prime + 11.90% on purchases
Annual Fee
None
Credit Needed
N/A
- Cash Back option:
Earn 1.5% cash back on every $1 spent - Reward Points option:
Earn 1 point on every $1 spent and receive 1,000 bonus points when your company spend is $1,000 or more in any monthly billing period - $0 annual rewards program fee
- $500 to $25,000 credit line
- Zero liability protection
Pros
- Businesses with low or bad credit scores can qualify
- Your choice of fixed-rate cash back or points rewards
- No annual fee
Cons
- Requires a security deposit of at least $500
- Credit limit will be based on the security deposit
- Purchase assurance: Wells Fargo will repair, replace, or reimburse you for items that are damaged or stolen within 90 days of purchase.
- Design studio: Include a personal image or business design on your credit card.
Who is Wells Fargo Business Secured Credit Card Best For?
The Wells Fargo Business Secured Credit Card is best for businesses that need to establish or rebuild their business credit. Wells Fargo helps you build business credit by reporting your payment and usage behavior to the Small Business Financial Exchange (SBFE). This card is a good option if you can’t qualify for an unsecured business credit card and if you have extra $500 to $25,000 cash reserves for a security deposit.
The Wells Fargo Business Secured Credit Card made it to the top of our list of the best secured business credit cards. This card charges no annual fee and offers flexible rewards options—either cash back or points-based rewards. It is ideal for business owners with little to no credit history. If you can qualify for an unsecured business credit card, it’s best to consider other options.
Wells Fargo Business Secured Credit Card Fees
- Introductory APR: None
- Ongoing APR: Prime plus 11.90%
- Annual fee: None
- Balance transfer fee: Varies per account
- Foreign transaction fee: None
- Cash advance fee: 4% or $10, whichever is greater, with a maximum of $175—cash advance APR is the prime rate plus 20.74%
Why We Like Wells Fargo Business Secured Credit Card
- $0 annual fee: This card charges no annual fee—you can earn cash back or points rewards for all business-related purchases while building your business credit.
- No foreign transaction fee: This card is a great choice if you make purchases outside the US because it does not charge foreign transaction fees.
- Cash back or points rewards option: You can choose your preferred form of rewards—either cash back or points rewards. You can earn a fixed 1.5% cash back or one point per dollar on qualifying purchases.
- Up to 10 free employee cards: You can have up to 10 employee cards at no additional cost.
- Helps build credit: Wells Fargo reports your payment and usage behavior to the Small Business Financial Exchange, helping you build business credit.
What’s Missing From Wells Fargo Business Secured Credit Card
The Wells Fargo Business Secured Credit Card does not offer introductory interest-free financing and does not offer a sign-up bonus. Unlike the other two Wells Fargo business credit cards, this card does not provide additional bonus points if you meet a certain spending threshold in a billing cycle. While this card can help you build business credit, it cannot help you build personal credit.
How to Choose the Right Wells Fargo Business Credit Card
All Wells Fargo credit cards are part of the best business credit cards that don’t report to personal credit bureaus, making them excellent options for those who don’t need to build personal credit. These three credit cards offer fixed-rate, flexible rewards options, allowing you to choose between earning cash back or points-based rewards. The best Wells Fargo business credit card will depend on your specific business needs and preferences.
Here are six important factors to consider when deciding which Wells Fargo credit card is right for your business:
1. Your Credit Qualification
Your credit qualification will primarily determine whether you can be approved for any of the two Wells Fargo unsecured business credit cards. If you still need to establish or rebuild your business credit and can not qualify for an unsecured business credit card, the Wells Fargo Business Secured Credit Card is the most suitable option for you.
2. Your Business Size & Total Annual Sales
Two of the most important factors to consider when choosing which Wells Fargo business credit card is best for you are the size of your business and your total annual sales. The Wells Fargo Business Platinum Credit Card is ideal for businesses with up to $2 million in annual sales, while the Wells Fargo Business Elite Signature Card is best for businesses with over $1 million annual sales.
3. Number of Employee Cards That You’ll Need
The number of employee cards that you’ll need is also an important factor to consider in choosing the right Wells Fargo credit card. If you need as many as 200 employee cards at no additional cost, the Wells Fargo Business Elite Signature Card is the best option. However, if you only need up to 99 free employee cards, it’s better to choose the Wells Fargo Business Platinum Credit Card. The Wells Fargo Business Secured Credit Card offers up to 10 free employee cards.
4. Your Monthly Expenses
If your monthly expenses are at least $1,000 but less than $10,000, you will earn 1,000 bonus points from the Wells Fargo Business Platinum Credit Card. However, if your company spends at least $10,000 monthly, you will benefit more from the Wells Fargo Business Elite Signature Card as it offers 5,000 bonus points every billing cycle if you meet this threshold.
5. Introductory Rewards
Consider opening a Wells Fargo Business Platinum Credit Card if your business needs to take advantage of the introductory interest-free financing period. This card is also an excellent option if you can spend no more than $3,000 within three months of opening an account to earn $300 bonus cash back or 30,000 bonus points. However, if you can spend at least $5,000 in three months, you will benefit more from Wells Fargo Business Elite Signature Card as it offers a $500 bonus cash back or 50,000 bonus points.
6. Annual Fee
If you don’t want to pay annual fees, consider opening either the Wells Fargo Business Platinum Credit Card or the Wells Fargo Business Secured Credit Card. On the other hand, the Wells Fargo Business Elite Signature Card charges a $125 annual fee, which is waived for the first year.
Bottom Line
All Wells Fargo business credit cards offer a 1.5% cash back or one point per dollar reward but carry different annual fees, introductory and ongoing APRs, and rewards. The best Wells Fargo business credit card depends on your business’s needs and unique circumstances. If these cards don’t fit the bill, visit our credit card marketplace to find other options.
