Wells Fargo Rebrands Credit Card Rewards Program as ‘Go Far Rewards’

Wells Fargo announced yesterday an enhanced rewards program called Go Far Rewards. Here are the primary details:

  • Pooling Rewards You can transfer points to a friend. (If there are no minimums on this, it would solve the problem ‘orphaned points,’ i.e. if you have $19 of rewards left and can send the points to a friend.)
  • Pay it Forward Use rewards to donate to charity.
  • Pay it Down Pay down any WF bill you have with rewards, including mortgage, home equity, credit card, personal or auto loan.
  • Easy Redemptions Redeem at an ATM or you can withdraw to your WF checking or savings account. This was actually rolled out last year.

For the most part, rewards are still 1¢ per point, although there are some discounted options if you choose to redeem for gift cards. For  example, a $25 Hyatt gift costs just 2050 points. Not sure if this is new.

In any case, you’ll see lots of mentions of Go Far Rewards on the Wells site so it’s useful to know what that’s all about. It sounds like ALL Wells Fargo credit cards (Propel, Cash Back, Rewards, etc.) are now combined under the Go Far Rewards program, but I’m not entirely positive on this point.

Here is the press release:

Wells Fargo & Company (NYSE: WFC) today announced Go FarTM Rewards, its enhanced credit card rewards program available to all customers with a rewards-based credit card from Wells Fargo. Through the program, customers can redeem their rewards at any Wells Fargo ATM, use rewards toward their qualifying Wells Fargo checking or savings account or apply toward the principal balance of a qualifying Wells Fargo line or loan. Customers can also take advantage of options to pool rewards with other customers, gift rewards to other customers or to charity, create wish lists and more – all while on-the-go. These features are in addition to all the things consumers have come to expect from a rewards program, like travel, merchandise and gift cards.

“Customers use their credit cards to pay for ordinary things they do every day, and we want the rewards they earn from doing that to feel extraordinary,” said Beverly Anderson, head of Consumer Financial Services for Wells Fargo. “With an emphasis on the flexibility and accessibility our customers told us they want, we spent the past few years updating our rewards program so significantly we felt it deserved a new name.”

Helping customers pay it down

Because every little bit helps, the program supports customers as they work toward their financial goals. Go FarTM Rewards offers the ability to redeem rewards toward the principal balance of a qualifying Wells Fargo line or loan (mortgage, home equity, credit card, personal or auto loan).

Helping customers pay it forward

The program supports customers’ desires to help friends, family and their community. These features include pooling rewards with other rewards customers or gifting rewards to other program participants. Cardholders can also redeem their rewards toward a “CharityChoice” gift card, thereby making a donation to charity through the program.

Helping customers reward themselves

Last year, Wells Fargo announced the ability for customers to redeem their rewards as cash from any of Wells Fargo’s 13,000 ATMs with their Wells Fargo Debit or ATM card. Wells Fargo was the first major U.S. financial services provider to introduce this functionality, continuing the company’s history of customer-centered innovation. In addition, cardholders can redeem rewards as a deposit to their qualifying Wells Fargo checking or savings account.

In addition, the program helps customers reward themselves through an enhanced travel search engine – including an interactive “How Far Can I Go” feature that provides destination recommendations based on accumulated rewards.

Customers can also choose from redemption choices including merchandise, gift cards and digital downloads.

Easy to access rewards when, where and how customers want

Go FarTM Rewards also supports customers’ on-the-go lifestyles with adaptive design – the ability for customers to navigate the site on their mobile device, tablet or desktop. Customers can personalize their experience using the “Tailor Your Preferences” widget that allows them to “Love It” or “Leave It” with regard to certain categories.

Recent updates to Go FarTM Rewards have already begun to receive accolades. The program received a grade of “A-” in the Credit Card MonitorSM report Rewards Redemption Options by Corporate Insight, a research company that focuses on financial institutions. The high grade, shared by only two other programs, came after Corporate Insight examined redemption options available through 11 card issuers’ programs with special focus on flexibility and choices as well as the design of the site and ease of use.

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June
June (@guest_459796)
August 16, 2017 14:47

WFB Go Far rewards issued four separate checks (pts converted to cash) – two separate requests b/c none of them reaches me. Spoke to eight supervisors and they can’t (won’t?) do anything beyond their set system – issue claim, research it, re-issue checks and wait 20 business days before it’s delinquent. So, I’ve waited 40 business days and now I have to request for new checks to be issued for the third time and wait another 20 days. Asked not to use postal service this time..instead use FedEx or UPS requiring signature to solve problem. Supervisors states it can’t be done nor can I speak to their Fraud department. So, getting on this merry-go-round for the third time. So much wasted energy, time and money. Plus, very peculiar that four checks issued and none reaches me. Is this normal?

William Charles
Admin
August 17, 2017 01:18

Doesn’t sound normal, I’d threaten to file a complaint with the CFPB if the checks don’t reach you this time and they refuse to try anything differently.

RJ
RJ (@guest_460334)
August 17, 2017 11:32

You don’t want to get a statement credit, or get your money from an ATM?

Citi kept trying to send me a new debit card by FedEx, but everytime required MY signature, and everytime delivery was when I was at work. I finally told them to deliver to my doctor’s office and I picked it up there. I feel your frustration.

John B
John B (@guest_304217)
October 6, 2016 19:38

In light of all the news about WF and the phantom accounts, should I be more skeptical of the Go Far program? WF created a separate account number for my Go Far account. To be fair I should note that on the website it is shown as separate from Credit Accounts (I have one cc with WF) and Loan Accounts (my mortgage), in its own category called Rewards. But a separate account number?

Also as a side note, WF has kept an old mortgage open, even though it was paid off when I refi’d (with WF, natch).

Love to hear your thoughts on the above…

Matt K.
Matt K. (@guest_235822)
March 22, 2016 18:24

2% at eBay through their portal is good cash back. Although the terms first say no bonus on gift cards then below it specifies no cash back on eBay gift cards. I’m going to give it a run and see. Earning at 2% and then cashing in for discounted Hyatt cards would be nice.

jnrfalcon
jnrfalcon (@guest_235772)
March 22, 2016 15:56

Get the Visa Signature card from WF and get 50% bonus on points when redeeming for airfare. And there is no annual fee on that card. And I’m 90% sure those points, including what you get from Propel series can be put into 1 same pool. https://www.wellsfargo.com/credit-cards/visa-signature/