Wells Fargo Signify Business Card Review: Features & Fees

What if every dollar your business spends, from office supplies to client dinners, earned a simple, unlimited 2% cash back? The Wells Fargo Signify Business Cash Card promises just that, with no annual fee. In this review, we'll break down whether this straightforward offer is the right financial tool to fuel your company's growth.

This guide explains the card's rewards, fees, and application process to help you determine if it aligns with your financial strategy. We also explain how Wise can complement the Signify card by optimizing your international business payments and currency management.

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Key Takeaways

What is the Wells Fargo Signify Business Cash Card?

The Wells Fargo Signify Business Cash Card is a credit card designed for businesses seeking simple, flat-rate cash back rewards. Its main feature is an unlimited 2% cash back on all qualified business purchases, with no categories to track.²

Key benefits include

• No annual fee
• An introductory 0% APR on purchases for the first 12 months
• Four complimentary Priority Pass™ airport lounge passes per year

New cardholders may also be eligible for a welcome bonus, such as a $500 cash reward after meeting a specific spending threshold within the first three months.

Think of this card as a simple way to put money back into your business with every swipe, without the added complexity of tiered rewards.

How does the Signify Business Cash Card’s rewards program work?

The rewards program provides unlimited 2% cash rewards on every qualified purchase. This flat rate applies to most business expenses, removing the need to manage spending in specific bonus categories. For an e-commerce business, this means earning a consistent 2% back on everything from inventory purchases and shipping supplies to your monthly Google Ads spend, without having to worry if you're in the right 'category.'

Qualified purchases are defined as net purchases and do not include items like cash advances, balance transfers, fees, or interest. Note that purchases of gift cards or other cash equivalents will also not earn rewards.

Cash rewards can be redeemed as a statement credit or deposited directly into an eligible Wells Fargo checking or savings account. This flexibility makes the card suitable for various business models, from freelancers covering operational costs to e-commerce stores purchasing inventory and marketing services.

What are the Wells Fargo Signify Business Card's fees and APRs?

This card features a $0 annual fee, making it a cost-effective option for businesses of all sizes. New cardholders receive a 0% introductory APR on purchases for the first 12 months from account opening. After the intro period, a variable APR applies.

The absence of a foreign transaction fee is a significant benefit for businesses that purchase goods or services from international vendors.³

Here is a summary of the card's primary fees and rates:

Wise Business Could Help Your Company Save on Global Payments

How do you apply for the Wells Fargo Signify Business Cash Card?

The application process for the Signify Business Cash Card is completed online. Applicants must provide both personal and business information. This typically includes the business's legal name, address, and Employer Identification Number (EIN), or a Social Security Number for sole proprietors.

You will also need to provide personal details as a guarantor, including your SSN, total annual income, and ownership percentage. Wells Fargo will perform a credit check as part of the approval process.

To improve your chances of approval, ensure all information is accurate and complete. Most business credit cards require a good-to-excellent personal credit history from the business owner or a guarantor.⁴

Is the Wells Fargo Signify Business Cash Card the right choice for your business?

The Signify card is best suited for businesses that prioritize simplicity and consistent rewards across all spending categories. If your expenses are varied and you don't want to track bonus categories, the unlimited 2% flat-rate cash back is a strong value proposition, especially with no annual fee.

However, it may be less ideal for businesses with highly concentrated spending in areas like travel or dining. Other cards might offer higher reward rates (3% or more) in those specific categories. If your business rarely carries a balance, the introductory APR offer may also be less of a deciding factor.

Ultimately, the card is a strong contender for companies seeking straightforward cash back on every purchase without added complexity.

Global Business made easy with the Wise Multi-Currency debit card

With the Wise Multi-Currency debit card, you can reduce costs on international spending. You'll get the mid-market exchange rate when you pay bills or expenses in foreign currencies. You can pay online or in-store in 40+ currencies and 160+ countries. The first card on your Wise Business account is included in your one-time account setup fee. After that, cards for team members cost just 5 USD each.

Invite your employees to order Wise Multi-Currency Cards and pre-set their spending limits. Add them to your Business account with controlled access and track their spending in one place. See real-time spending anytime, anywhere.


Frequently Asked Questions

What is a "qualified purchase" for the Wells Fargo Signify Business Cash Card?

A qualified purchase is a transaction for goods or services, minus returns and credits. It does not include fees, cash advances, balance transfers, or purchases of cash equivalents, such as money orders.

Does the Wells Fargo Signify Business Cash Card have a foreign transaction fee?

No, the Wells Fargo Signify Business Cash Card does not charge a foreign transaction fee. This makes it a suitable option for purchases made in foreign currencies.

Can I get a welcome bonus with this card?

Yes, new cardholders are typically offered a welcome bonus. For example, you may earn a $500 cash reward after spending $5,000 on qualified purchases within the first three months of account opening.

What credit score is typically needed to be approved for this card?

Wells Fargo does not publish a minimum credit score requirement. However, applicants for business credit cards from major banks generally need good to excellent personal credit, typically a score of 670 or higher.

Sources:

1. Signify Business Cash Credit | Wells Fargo
2. Wells Fargo Signify Business Cash Card: 2024 Review | nerdwallet.com
3. Wells Fargo Signify Business Cash Card Terms and Conditions | Wells Fargo
4. Wells Fargo Signify Business Cash® Card Review | fool.com