Posted by William Charles on August 12, 2017
Manufactured Spending

Published on August 12th, 2017 | by William Charles

32

Wells Fargo Adds A $12,500 Cap To 5x Card

Wells Fargo offers several cards (that are basically the same) that offer 5x points on gas, grocery and drug store purchases for the first six months. They have now added a cap and you’re limited to earning 5x on $12,500 in purchases within the first six months. In the past Wells Fargo had been warning ‘abusers’ of this 5x category and shutting down accounts that had an unusual volume of purchases and/or payments using this card.

Hat tip to ittav0321 on /r/churning



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sonia
sonia

do we still need an existing relationship such as a checking account to get this card

mark c
mark c

Why is WF doing such a stewpid thing? Don’t they have anything better to do? Is this retroactive? I applied and approved for a 5X card last month, will I continue to receive bonus on unlimited amount for 6 months?

Bob
Bob

I assume this will only apply to new accounts?

Mimi
Mimi

what I’m thinking is they’ll allow the others who got this card before this to reach $12.5K spend and beyond that, either they’ll shutdown those they tag as “abusers” so they don’t get to enjoy more CB beyond $625 CB they earned.

as it is, there are many DPs of people getting shutdown for cycling their CLs and even those who just max out their “measly” CL ($2k or less) also got the warning; I’ve read the ones who cycled their CLs got shutdown after they received the warning via snail mail, too late for them to quit what they were doing because all their pending CBs got forfeited.

vgc bobby
vgc bobby

on month 5, not shut down yet. but waiting for it everyday

Ryan
Ryan

How much did you put on it monthly and what was your CL?

Joe
Joe

Ah, the memories. This thing used to be the MS ultimate weapon. I had it in 2015, when Redbird was still a thing, you could buy VGCs at many department stores and I had 2 MS-friendly grocery stores close by. Earned about $25k in cash back and didn’t even go all out until the last 2 months.

Evan
Evan

So you bought half a million worth of GCs?

John
John

There were quite a few of us that did over 1M.

Joe
Joe

Yep! And Reloadits, when they were easy to deal with

John
John

I got on board right before the letters and still managed to do slightly over 1M.

Dave
Dave

“My dad” and I went back to back on this card and maxed it out like crazy… I took a second stroll at it too but was shut down eventually. I welcome this cap…this seems like a nice semi churnable card, and hopefully they won’t give you any grief now that they have the limit in place. Not as generous as blue cash, but still something.

dan
dan

lol, does that mean that they won’t mail out a letter anymore? a household member got the letter after only 2 mos in spending $2k/mo with mixed purchases at WM, supermarkets & gas pump; scaled down to $1k/mo & survived the remainig 4 mos.

total cb/reward was only about $600 including the $200 sign-up bonus; a drop in the bucket comparing to that in the past

Jeff
Jeff

Always better to have a published rule than seemingly arbitrary shutdowns!

Curtis
Curtis

Yeah, we’ll see how this works with existing accounts I guess. Just got two of them less than 2 mo ago.

Rico
Rico

It’s Wells Fargo. Can you use the two other cards that they opened in your name without permission to charge another $25K?

wellsnargo
wellsnargo

Well, for those of us who never pulled the trigger on the card and use WF bank account as a MO depot, makes it safer in the future. None of their cards are worth hitting hard any more and the friendly bank account is more valuable now.

NinjaX
NinjaX

its ignorant to think the limit means its OK to MS up to 12k. thats just step 1. WF will most likely watch carefully everything even below that number. just look at chase. maxing Ink 50k would be done all day everyday if the limit meant anything.

Andrew
Andrew

Well I guess I won’t be retiring by 30 anymore…

nonimmigranth1b
nonimmigranth1b

Does this apply to existing customers? I am way past $12.5k limit. I am using the card since last two months.

Nonimmigrant
Nonimmigrant

I have completed 6 months with 300k+ Ms.

gene
gene

which cards if any allow the new account opening bonus and the 5X the points for the first 6 months?

sonia
sonia

do we need to have a checking account with them before we can apply for the card

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