In the world of credit card rewards, there’s one program that is rarely talked about—Wells Fargo Rewards. But even though it’s not one of the more popular points programs, it still offers value.

Wells Fargo Rewards program can be earned and redeemed in a variety of ways, with some methods offering more value for your points than others.

Should you be accumulating Wells Fargo Rewards? Let’s find out.

Wells Fargo Bank

Before diving into Wells Fargo Rewards, you should be aware of Wells Fargo’s rules. Like most banks, Wells Fargo has its own application restrictions.

Wells Fargo may not approve you for a new credit card if you have received a welcome bonus within the last six months. Essentially, Wells Fargo allows you to earn one welcome offer, no matter which card, once every six months. If you get a card that has a 0% intro APR, for example, you won’t be eligible to get a card that earns a welcome bonus, even if you close the card, for six months.

How Are Wells Fargo Rewards Calculated?

Like with any credit card rewards, the value of Wells Fargo rewards can be evaluated in numerous ways. Ultimately, the most comprehensive calculations typically involve considering both how many rewards you earn on your credit card purchases made with your card and how much value each point is worth during its redemption. In other words: there are two parts to every valuation of points—earning and redeeming.

For instance, if you earn 2% cash back on $1,000 in purchases with the Wells Fargo Active Cash® Card and redeem for cash, your rewards value will total $20. But if you spend $1,000 on the Wells Fargo Autograph℠ Card, the total rewards points you earn depend on how you spend the cash, as the card earns 3 points per dollar at restaurants, travel, gas stations, transit, popular streaming services and phone plans. Plus, earn 1 point per dollar on other purchases. Assuming you spend $300 on purchases qualified for bonus-category rewards and $700 on purchases that don’t, you’ll earn 1,600 rewards points. Redeemed for cash, this would calculate to $16 in rewards.

But if you manage to use those points toward a discounted travel redemption through Wells Fargo’s redemption portal and the comparative cash value of your travel is higher than the value your points can be redeemed for cash, you’ll see a higher redemption value per point. Terms will apply to travel and other redemptions, so be careful to read the rewards terms and conditions to understand any caveats to your redemption.

The Wells Fargo rewards program offers myriad redemption options, but rates aren’t disclosed on what each redemption is worth, as it will vary with each redemption. In other words, you’ll still have to hunt to find a good deal. Rewards may often be redeemed for credits to qualifying accounts, for purchases with participating merchants either in the form of a reimbursement statement credit or as a payment method or for travel or gift cards purchased through Wells Fargo’s redemption site.

How Much Are Wells Fargo Rewards Points Worth?

When redeemed for statement credits, Wells Fargo Rewards are worth 1 cent per dollar, but must be redeemed in increments of 100 points or $1. Redemptions made over the phone or online have a $25 or 2,500 point minimum. Redemptions made via ATM are subject to a $20 or 2,000 point minimum.

Redemption values associated with other redemption methods may vary. Read carefully any terms and conditions before you plan any redemption.

Wells Fargo Rewards is a fixed-point currency—this means that when you redeem your points, they are generally worth 1 cent per point. Be aware that unlike the rewards programs for Chase Ultimate Rewards®, American Express Membership Rewards and Citi ThankYou points, Wells Fargo Rewards cannot be transferred to any travel partners. So if you are looking for a great travel rewards credit card, you may want to look elsewhere.

How To Earn Wells Fargo Rewards

Wells Fargo Rewards can be earned in a variety of ways. Some of the most common ways to earn them include opening new credit cards to earn welcome bonuses, daily spending on Wells Fargo Rewards-earning cards and by shopping through the Wells Fargo Rewards online portal.

Best Credit Cards To Earn Wells Fargo Rewards

Currently, Wells Fargo issues five credit cards without co-branding: three personal cards and two business cards. Two of these personal cards earn cash back or the option to take your cash-back earnings as Wells Fargo Rewards. Each card offers different benefits and earning rates. Additionally, some Wells Fargo credit cards also offer a welcome bonus after meeting minimum spending requirements on a new card.

  • Wells Fargo Active Cash® Card: This card has an annual fee of $0 and earns 2% cash rewards on purchases. It comes with a welcome bonus of $200 cash rewards bonus after spending $500 in purchases in the first 3 months. You can take your cash-back earnings as Wells Fargo Rewards.
  • Wells Fargo Autograph℠ Card: For a $0 annual fee, this card earns 3 points per dollar at restaurants, travel, gas stations, transit, popular streaming services and phone plans. Plus, earn 1 point per dollar on other purchases. It also offers a welcome bonus: 30,000 bonus points after spending $1,500 in purchases in the first 3 months. Rewards earned may be redeemed for travel, statement credits and more through Wells Fargo Rewards.

Wells Fargo does offer another consumer card, the Wells Fargo Reflect® Card, which doesn’t earn rewards on spending. Wells Fargo also issues the® Rewards Visa® Credit Card* and the Bilt World Elite Mastercard®, both of which earn rewards, but for their own respective loyalty programs.

Cards Not Accepting New Applications

The following cards are no longer available for new applicants, however they still earn Wells Fargo Rewards points. This information was collected independently by Forbes Advisor and may no longer be accurate as the product terms change. See your cardholder agreement for current rewards eligibility and details.

  • Wells Fargo Propel World American Express: Earn 3 Wells Fargo Rewards points on eating out and ordering in, popular streaming devices, gas stations, rideshare, transit, travel including flights, hotels, homestays and car rentals. 1 Wells Fargo Rewards on all other purchases.
  • Wells Fargo Cash Wise Visa: Earn 1.5% back on all purchases.
  • Wells Fargo Visa Signature Credit Card: Earn 5 Wells Fargo Rewards points per dollar spent on up to $12,500 on grocery, gas and drugstore purchases for the first six months and 1 Wells Fargo rewards point per dollar thereafter.
  • Wells Fargo Rewards Card: Earn 5 Wells Fargo Rewards points per dollar spent up to the first $12,500 spent on gas, grocery, and drugstore spending for the first six months, all other purchases earn 1 Wells Fargo rewards point per dollar.
  • Wells Fargo Cash Back College Visa: Earn 3% cash rewards up to $2,500 on gas, grocery, and drugstore purchases for the first six months. All other eligible purchases will earn 1%.

Business Credit Cards That Earn Wells Fargo Rewards

  • Wells Fargo Business Platinum Credit Card*: With this card you can choose your rewards: Cash Back or Rewards Points. 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.
  • Wells Fargo Business Elite Signature Card*: Earn 1.5% cash back per dollar spent or earn 1 point per dollar spent and receive 5,000 bonus points when the company spend is $10,000 or more in any monthly billing period.

Wells Fargo Rewards Portal—Earn More Mall

Wells Fargo Rewards can also be earned through the Wells Fargo Rewards portal when shopping online through the Earn More Mall.

The Wells Fargo Rewards Earn More Mall is a shopping portal that can help boost your rewards balance. Instead of shopping directly with an online retailer, log into Wells Fargo’s Rewards site and use the shopping portal feature. This option provides additional Wells Fargo Rewards points, which you earn on top of the points you earn from spending on your eligible Wells Fargo credit card. You can also activate bonus offers for some in-store purchases with participating retailers.

How To Redeem Wells Fargo Rewards

Redeeming Wells Fargo Rewards is a pretty straightforward process. Each point is generally worth 1 cent, so you don’t have to do a bunch of math or formulate equations to figure out how to extract maximum value.

You can redeem them in a number of ways, including travel, as a statement credit towards your card balance, as a cash withdrawal from an ATM, a credit towards an eligible Wells Fargo loan (like a mortgage or personal loan), to buy gift cards or merchandise or even to bid on online auctions.

Use the Wells Fargo Travel Portal

Wells Fargo Rewards can be used for various travel including flights, hotels, cruises, car rentals or vacation packages. You can also use your rewards toward the cost of experiences, like a safari excursion, tee time on the golf course or exploring ancient ruins.

Redeem for Cash Back

Using your points for cash back takes on somewhat of a new meaning when dealing with Wells Fargo. Rather than just using your points as a statement credit, which is one option, you can also get cash back through an ATM. ATM redemptions are available in $20 increments when you use a Wells Fargo ATM. There’s a minimum redemption of 2,000 points.

Redeem for Gift Cards

Wells Fargo has an extensive offering of gift cards which you can use your Wells Fargo Rewards to buy. Wells Fargo Rewards are worth 1 cent each when redeemed for gift cards.

The Wells Fargo Rewards site frequently runs specials on gift cards where you can purchase them at a discount. These deals seem to pop up more often around popular holidays.

You can also donate your Wells Fargo Rewards to charity by using them to purchase a Charity Choice gift card, a project of Special Kids Fund or by redeeming them to support disaster relief via the American Red Cross.

Other Ways To Use Wells Fargo Rewards

Lastly, you can redeem your Wells Fargo Rewards for merchandise. There are several categories you can choose from, including:

  • Home decor
  • Bags and luggage
  • Cookware
  • Bed and bath
  • Small appliances from Best Buy
  • Apple products

Some of these categories have thousands of options. Whether or not the redemption is a good one will depend on the price charged by competitors. If you find an item cheaper elsewhere, remember you can redeem your Wells Fargo Rewards to your account and use the balance to fund the purchase from the cheaper retailer.

How Long Does It Take To Redeem Wells Fargo Rewards?

Redemptions will show as deductions from your rewards balance immediately, but Wells Fargo cautions it may take five to seven business days for statement credits to appear on your account. Statement credits may reduce your balance, but you are still responsible for making payments if a payment is due.

Bottom Line

Wells Fargo Rewards is a rewards program that gives you multiple options to redeem your points. Other fixed-points options can be much more restricted in the ways that you can redeem them, but Wells Fargo gives an overall well-rounded, customer-friendly selection.

Although the number of Wells Fargo credit cards that earn Wells Fargo Rewards are somewhat limited, the ability to use the Wells Fargo Rewards portal and earn bonus points can be a good way to help accrue points for meaningful redemptions.

Frequently Asked Questions (FAQs)

How do I get my cash back rewards from Wells Fargo?

Cash back rewards redemptions can be made through your online account, by telephone by calling 1-877-517-1358 during the call center’s operating hours or by way of ATM withdrawal if you have a Wells Fargo ATM or debit card. Rewards redemptions made online or by telephone are subject to a $25 minimum and redemptions made by ATM are subject to a $20 minimum and withdrawn in $20 increments.

Rewards may be redeemed for cash at an ATM or account credit on eligible Wells Fargo accounts online or by phone.

How can I transfer Wells Fargo rewards to a bank account?

Wells Fargo rewards can be redeemed for credits to a Wells Fargo banking account by calling 1-877-517-1358 or by logging into Wells Fargo Online and requesting the redemption. Statement credits toward the principal balances of credit card, loan or mortgage accounts are also possible.

Why did my Wells Fargo rewards disappear?

Wells Fargo rewards may disappear from your account when you make a redemption or if the transaction that earned the rewards is reversed or found to be fraudulent. Accounts no longer open or in good standing may see rewards balances wiped out as well.

How long are Wells Fargo Rewards good for?

Refer to your card’s reward’s terms and conditions for exact information regarding when your Wells Fargo Rewards expire. Rewards earned with the Wells Fargo Active Cash, for instance, do not expire as long as the account is open. Wells Fargo Business Rewards, however, will expire at the end of the 60th month (approximately five years) starting with the first month your points post to your rewards account.

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