Wells Fargo Visa Signature credit card review

Wells Fargo Visa Signature credit card review

Updated: February 22, 2021
Updated: February 22, 2021
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If you put a lot of miles on your car or regularly face steep grocery bills, the Wells Fargo Visa Signature card could be a worthwhile addition to your wallet, especially for the first six months. After that, the card’s bonus point categories go away, leaving you with just 1 percent rewards on general purchases.

However, don’t be deceived by that 1 percent rewards rate. The card includes a 50 percent bonus when you redeem your points for airfare, which means – if you are strictly interested in redeeming your points for travel rewards – all the points that you earn on the card, including the sign-up bonus, are worth 50 percent more than their face value.

Bonus points on gas, grocery and drugstore spending

Would-be cardholders might scoff at a mere one point per dollar on general purchases, but the Wells Fargo Visa Signature credit card tries to make up for it by giving you the ability to earn an additional four points per dollar spent at gas stations, grocery stores and drugstores for the first six months (for a total of five points per dollar). Note, the number of points that can be earned under this promotion is capped at 50,000.

As mentioned above, you get a 50 percent bonus on your points when you redeem them for airfare, which boost the earning rate by 50 percent. Essentially, the card is more like a 1.5 percent flat-rate card. While you can find cards with better earning rates – for example, the Capital One Venture Rewards Credit Card offers two miles per dollar on every purchase – 1.5 percent is a good earning rate for a card with no annual fee. 

Flexible redemption options

Unlike the many rewards cards that have unfortunate airline and/or hotel restrictions, the Wells Fargo Visa Signature card impressively lets cardholders redeem points with any airline of their choosing and with no blackout dates. (However, you can only book travel through Wells Fargo’s Go Far Rewards program.)

Points can be redeemed across several other categories, too, such as hotel stays, car rentals, cruises, merchandise, gift cards, cash back and more. Further, you’re allowed to pool and/or gift your own rewards with other Go Far Rewards customers. As with most rewards credit cards, point values vary by category, so do your homework to make sure you’re getting the most value (if you’re redeeming points for anything other than airfare, that is).

Unfortunately, while most credit cards these days don’t impose expiration dates on their rewards points, the points on the Wells Fargo Visa Signature card do expire. But, you do have a fair amount of wiggle room — points expire in five years.

Visa Signature benefits

Visa Signature cards like this one come with an impressive array of benefits — everything from purchase security and extended warranty to 24/7 concierge service and discounted roadside dispatch. You’ll also enjoy exclusive offers and discounts on merchandise, culinary events, movies, concerts, hotels and more. Review your Guide to Benefits when you receive your Wells Fargo Visa Signature card for the full list and coverage details.

Why get  the Wells Fargo Visa Signature card?

  • You spend a lot on gas, grocery and drugstore purchases.
  • You want to earn travel rewards without being tied to a particular airline or hotel chain.
  • You have high-interest credit card debt and want to save money by transferring your balances.
  • You prefer a variety of redemption options. 

How to use the Wells Fargo Visa Signature card:

  • Apply for the card online to take advantage of its online-only sign-up promotion.
  • Use the card for all gas, grocery and drugstore purchases during the first six months.
  • Leave the card at home when traveling overseas to avoid foreign transaction fees.

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