Posted by William Charles on September 27, 2018
Credit Card Review

Published on September 27th, 2018 | by William Charles


Wells Fargo Business Platinum Credit Card Review – $500 Sign Up Bonus & $1.5% Cash Back On All Purchases

Now valid until December 31st, 2018.

Update 07/05/18: Deal is back and valid until  9/30/18. Hat tip to reader Steve.

Update 01/07/18. When I originally posted this, the $500 bonus was targeted. But there is now a public bonus so we are reposting and have updated the site.

A few days ago reader @RobertDwyer tagged me in a post on Twitter, he had received an offer of $500 after $5,000 in spend on the Wells Fargo Business Platinum Credit Card. The offer is now available to everybody because of that the card itself is worth a short review in case others are targeted either now or in the future.


Card Basics

  • No annual fee
  • Card earns:
    • 1.5% for every $1 spent if you choose cash option
    • 1 point per $1 spent if choose point option. Point option also gives you 1,000 bonus points when you spend $1,000 in any monthly billing period. You get a 10% bonus when you redeem points online
  • Credit limit of up to $50,000
  • There is also a rewards fee, but that seems to always be waived under some sort of promotion
  • Sign up bonus of $500 after $5,000 in spend within the first three months. Please note to receive this you must select the cash back option!
    • This offer is not available if the business already has a Wells Fargo business credit card or had a Wells Fargo business credit card opened or closed in the immediately preceding 12 months
    • The $500 Cash Back bonus will be automatically credited within three to five months after the spend requirement is met
  • 0% introductory rate for nine months
  • This card is not reported on your personal credit report, so it won’t affect your Chase 5/24 status.
  • You can’t apply for this card online unless you have a checking account that has been opened for at least 12 months. Not sure if you can open in branch with the bonus or not.


How Much Are Points Worth?

You can see what you can redeem points for here, unfortunately it doesn’t show how many points are required. Robert did get this small sample:

Best value is 25,000 points for a ticket up to $400. That works out to be 1.6¢ per point.

Our Verdict

With the points earning card you could effectively earn 2x points per $1 spent if you spent exactly $1,000 each month. That would be worth up to 3.2¢ per $1 spent when redeeming for $400 in airfare and you could earn almost enough points every year. Seems like you can also transfer points from your personal cards to this card. Unfortunately you can’t get the sign up bonus when you do that and I suspect most people are much more interested in that.

Seems like a nice and juicy bonus and it looks like business cards aren’t on the same timeline as personal cards when it comes to sign up bonuses (this one says you’re not eligible if you’ve signed up with any other business card in the last 12 months and personal cards are on a 16 month timeline). I guess that maybe getting this card would make you ineligible for a personal card in the next 16 months, but I would be somewhat surprised if that is the case. Once we have some more datapoints I’ll add this to the best credit card bonuses. There is another the Wells Fargo Business Elite card that offers a sign up bonus of $1,000 but that requires over $1 million in sales.

Update: When applying there is no question asking if you want the cash back option. You have to do the following:

  • Click Yes I want to Enroll in the Wells Fargo Business Card Rewards Program
  • Click cashback program


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I didn’t see any language in the Terms that this is a target offer…

I agree I looked throughout the application and couldn’t find anything stating it.

Can some body please confirm if this is a targeted offer or not? The link seems like it’s not targeted.

Doc. Any comments?

I applied for the card 2 days ago using Robert’s links. I’ll update how it works out for me, but the app went to pending, and doesn’t show up anywhere online. Documenting it on the blog, and will try to update here as well.

Clicking through, you have to have had an active Wells Fargo checking or savings account for a year to apply through that link.

After hitting Apply Now, they ask If you’ve been a WF checking/savings account holder for at least a year on the next page. If you click NO, it won’t let you apply online and tells you to go into Branch.

I just called about my biz cc application from Jan 25. I have had a personal checking acct for 20+ years with Wells Fargo. Opened a biz checking 10/17 and got the bonus. I was told I must come into the branch because the checking acct must be biz acct for >1 year to do online app. : ( The personal acct doesn’t work.

If you go to Wells Fargo’s website and browse to the business card applications, you can see the offer listed there.

$500 plus 9 months of free float for bank account offers on a non-reporting biz card? Wow.

Was going to get the World Propel but I think this is what I really want.

Do Wells Fargo Business cards count towards 5/24?

They do not.
I got this with the cash back option for no HP and 9 month 0% APR, back when the $300 checking business bonus first went live. The rep was actually encouraging me to take advantage of the free 9-month loan. I’m guessing the 0% is not attached with this offer, otherwise I would think this is a much better deal than the CIC.

0 APR is attached, actually.

Monday I’m going to sign up for a business account plus this.

Only thing I am wondering is if I should go for the Propel World before or after the biz signup.

Be very careful. It says in the terms that you have to select Cash Back as your rewards option for the $500 bonus. This means you cannot do the rewards point route detailed at the end of this post b/c you either select cash back or rewards points AFAIK.

I opened this account (sadly no bonus) along with the $300 business checking bonus. In branch there was no hard pull, but the free float and non-reporting nature is nice. I need to talk my wife into opening this and the biz checking bonus.

No HP for a credit card application? Are you sure about that?

I’m wondering if it is like Amex where if you have an existing CC with them they’re OK with just their soft pull information.

Maybe, but I’ve never heard that with WF. Even the banker said there would be a hard pull for the credit card. Of course, they also said it would be a HP for the checking account which wasn’t the case.

Like daeofcal, I also was told in December that I could get this card without a hard pull, based on the soft pull done for the business checking account. Banker gave me a date by which I could go to any branch and apply without hard pull.

How many days from the soft pull in December? I wonder if it’s too late for me now.

I did not have any other accounts with WF prior to signing up for the business checking.

At the time of the signup, the WF rep said I was pre-approved for the Biz Plat. I asked and re-asked about the hard pull, and he said no. There was no WF HP on any of the bureaus. I would suggest asking if you’re pre-approved, but you probably won’t have to, because you’re going to get signed up for that along with 6 other accounts, whether you know it or not! j/k 😉

Yes, check the comments from the original biz checking bonus for many similar datapoints, but YMMV.

can confirm. got it along with the $300 bonus as well, and rep swore no HP, and I confirmed. its really true

When did you open the account? This promotion Says Jan 1 to March 31. Did you open during non-promotion period?

When did you open the account? The link says offer valid Jan 1 March 31.

Which credit bereau does WF business card app check?

they pulled TU for me last year for a personal cc


THIS is VERY interesting:

“If you are logged into your business rewards account, you can transfer points into this account from a consumer credit account but if you wish to transfer points out of your business rewards account to a consumer credit account in order to complete a redemption, you will need to login to your consumer credit account at or call the Consumer Rewards Service Center at 1-877-517-1358.”

Be careful. It says in the terms “Must sign up for the cash back option.” There is a choice b/t rewards and cash back, and I believe for this offer we have to choose the cash back option, meaning no rewards points.

Ah, good catch!

Is the one bonus per 16mo rule applied to business cards, or are they separate?

What’s up with January Uber credit for Amex platinum?

They have not posted yet.

Mine posted double

Sounds like you got mine then.

Just mail me a check

dont think it is targeted. i can find the offer in small business card public page in

and there is another card for $1000 bonus for spending $25000

It doesnt seem like you can apply for this elite card online. it says “find a banker”.

I just tried opening the account online. You cannot open the account if your checking account is not open for at least 12 months. So this is only for people with existing wells fargo relationship.

Same for me

I tried applying online and also received the message that I could not apply if I didn’t have a checking account open. I called and asked and they said I could still open the account with signup bonus if applying in branch.

Visited branch and they confirmed they could open, but required documentation of a business license (YMMV) . In WA state it only costs $20 to file a business as a sole proprietor. Will file document and return to branch to attempt to open card. Worth the legwork to me for $500. This card also offers 0% on purchases for 9 mo.

Does the 1 bonus per 15 month rule apply to WellsFargo Business cards?

Not sure…I will find out in a month or so….Have you seen any DPs?

> There is also a rewards fee, but that seems to always be waived under some sort of promotion

I don’t think there’s ever a rewards fee for this SMB card; the fee appears to be reserved for the more corporate version of it (the one that currently comes with a 1k bonus!).

BTW, I just opened the 300 biz account in branch a week ago, but there were no such offers at that time. If I go back now to a branch, would there still be no HP for this card, or how does it work?

applied and got a message to sign and fax a personal guarentee form.

got the same email.

but it is saying it is for “additional borrower”.
I am the only borrower, so i don’t think i need to fax it.

further more, I dont know where to find a copy of the form.

ah, didn’t notice that. FYI the fax number is on the bottom of page one of the document if you need it.

Did any of you hear back after receiving this message? I just applied and received the same thing

Do you have a WF checking for > 12 months?

I applied and got the email about the fax. I do have an additional borrower, but I did not print out that form. So I am just going to wait and see what happens.

Called them. They said a decision in a day or 2. They said to ignore the email about faxing in something for an additional borrower.

Conditionally approved. They wanted schedule C to finalize.

doc, this isnt targeted?

Do you have to have a business checking account or will a regular checking account suffice???

Charles DoC Fan

I have a personal checking account and it took my application. I haven’t received “full” approval yet. – All it gave me was a reference number when I completed my application. I clicked on an “Application Status” link in my Email and it says “Conditionally Approved.”

Stats 780 Credit score. $85K personal Income. Have had personal checking account and credit card with WF for a couple years.

Note : Not sure if a coincedence, but I could not access online banking for several minutes after applying.

Charles DoC Fan

It looks like I got a hard pull to my Experian Report. – See my application details above. Listed as an inquiry for an “installment loan”

Perhaps because I have a personal rather than business checking.

Anyone else have data points?

Does conditionally approved means approved? Did they ask for additional docs or is it finalized?

Thank you!

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