Update 6/26/19: Spend requirement has been reduced to $15,000 instead of $25,000.
A few days ago I did a post on the Wells Fargo Business Platinum card. A few readers pointed out the Business Elite credit card, so here we are.
Contents
Card Basics
- Card is only available if you have annual sales above $1 million
- Sign up bonus of $1,000 when you spend $25,000 within the first three months
- This offer is not available if the business already has a Wells Fargo Business Secured Card, Wells Fargo Business Platinum Credit Card, and Wells Fargo Business Elite Card, or opened or closed one of those accounts in the immediately preceding 12 months
- Bonus will be paid out within 12-16 weeks of meeting the minimum spend requirement
- No foreign transaction fees
- No annual fee
- $75 rewards fee, waived first year
- Card earns 1.5% cash back on all purchases
- Not possible to apply online, must go in branch by the looks of it
Our Verdict
The requirement for $1 million in annual sales will kill this deal for the vast majority of readers. If you’re eligible then chances are you can also meet the minimum spend requirement of $25,000. In total you’d earn $1,375 cash back ($375 from the spend at 1.5% and another $1,000 from the sign up bonus). That works out to be 5.5% cash back per $1 spent. The card itself isn’t worth keeping long term as there are lots of other cards with no annual fee that earn at a higher rate than 1.5% cash back but this could be a good option for businesses with $1 million+ in sales to just get the sign up bonus.
