Wells Fargo Signify Business Cash Card review 2024: Unlimited 2% cash rewards for your business without an annual fee
“Verified by an expert” means that this article has been thoroughly reviewed and evaluated for accuracy.
“Verified by an expert” means that this article has been thoroughly reviewed and evaluated for accuracy.
BLUEPRINT
Published 4:09 a.m. UTC May 13, 2024
Editorial Note: Blueprint may earn a commission from affiliate partner links featured here on our site. This commission does not influence our editors' opinions or evaluations. Please view our full advertiser disclosure policy.
Business owners seeking a simple, low-frills 2% cash-rewards card will find that this card delivers just that. Read more in our complete Wells Fargo Signify Business Cash World Elite Mastercard® * The information for the Wells Fargo Signify Business Cash World Elite Mastercard® has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. review.
Wells Fargo Signify Business Cash Mastercard basics
- Annual fee: $0.
- Welcome bonus: $500 cash rewards bonus after spending $5,000 in purchases in the first three months of account opening.
- Rewards: 2% cash rewards on purchases.
- APR: 0% intro APR on purchases for 12 months from account opening, then a 18.49% to 26.49% variable APR applies.
- Recommended credit score: Not available.
- Does the card offer preapproval? No.
- Other benefits: Free employee cards, primary rental car protection and a complimentary Priority Pass membership (enrollment required; lounge fees apply).
Wells Fargo Signify Business Cash Mastercard review
Small business owners can earn unlimited 2% cash rewards on purchases without paying an annual fee when using the Wells Fargo Signify Business Cash Mastercard. Comparable rewards credit cards for businesses either have a cap on how much you can earn or require tracking bonus categories eligible for additional rewards.
Plus, the card offers a 0% intro APR on purchases for 12 months from account opening, then a 18.49% to 26.49% variable APR applies, something not always offered on business credit cards. Cash-back cards typically have lower welcome bonuses, but the Signify Business Cash Card offers a respectable $500 cash rewards bonus after spending $5,000 in purchases in the first three months of account opening.
While the card’s additional benefits are relatively limited, it does include free employee cards, primary rental car protection and access to Priority Pass lounges upon enrollment. However, lounge access is not complimentary, so you must pay an entrance fee whenever you want to use this benefit. When using other cards with Priority Pass lounge access, entrance is typically complimentary for the cardholder and up to two guests, although credit cards offering this perk generally charge an annual fee.
Pros
- Unlimited 2% cash rewards: Earn 2% cash rewards on purchases without spending caps or needing to memorize bonus categories.
- Long intro APR offer: New accounts have up to a year to pay off purchases with no interest.
- Primary rental car protection: Your rental car is protected against theft or damage, and if you need to file a claim, it won’t involve your personal coverage.
Cons
- Foreign transaction fees: A fee of 3% of each transaction converted to U.S. dollars is added to purchases made outside the U.S.
- APR offer doesn’t include balance transfers: Business owners who need to transfer a balance cannot benefit from an intro APR offer to eliminate interest while paying off their debt.
- Priority Pass membership requires a fee to use: The card includes a complimentary Priority Pass membership upon enrollment, but it comes with “pay as you go” lounge visit fees.
Wells Fargo Signify Business Cash Card rewards
When using the Wells Fargo Signify Business Cash Card to make purchases for your business, you’ll earn a flat 2% cash rewards on purchases without annual spending caps. There are no bonus categories, which reduces the rewards you can earn on your highest spending categories.
Using government data and other publicly available information, our sample small business in the U.S. that would be in the market for this card has around $29,525 in annual expenses that can be charged to a credit card. Here’s how our sample cardholder’s rewards could break down:
| SPENDING CATEGORY | SPENDING AMOUNT | CASH REWARDS RATE | CASH REWARDS EARNED |
|---|---|---|---|
Purchases
| $29,525
| 2%
| $590.50
|
TOTAL
| $29,525
| $590.50
|
In this example, our cardholder earns $590.50 in cash rewards.
The earnings are redeemable in three primary ways:
- Statement credit to reduce credit card balance.
- Book flights, hotels and rental cars through Wells Fargo.
- Buy gift cards.
Wells Fargo recently introduced points transfers for two of its consumer cards, the Wells Fargo Autograph Journey℠ Visa® Card * The information for the Wells Fargo Autograph Journey℠ Visa® Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. and Wells Fargo Autograph℠ Card. The Signify Business Cash Card is not directly eligible to transfer rewards to airline and hotel partners, but a workaround is to combine the rewards from this card with those from an eligible card to transfer that way.
Wells Fargo Signify Business Cash Card APR
New cardholders are eligible for a 0% intro APR on purchases for 12 months from account opening, then a 18.49% to 26.49% variable APR applies. This offer provides interest-free financing on purchases, a benefit for business owners who need extra time to pay their balance while waiting to collect on receivables, sign a new client or get approved for another loan.
This card does not currently allow balance transfers.
Wells Fargo Signify Business Cash Card perks
The Signify Business Cash Card has a limited number of perks, but there are a few that are worth mentioning. Business owners can add employee cards for no additional cost in order to earn rewards on their purchases.
While it doesn’t offer other travel protections, your rental car is covered against damage or theft when paying with the Wells Fargo Signify Card. The coverage is primary, which means that you don’t need to involve your own insurance policy if you need to make a claim.
Cardholders also receive a Priority Pass membership (enrollment required). However, unlike Priority Pass Select memberships offered by competing cards, this membership does not include complimentary entrance. Instead, it is a “pay as you go” membership, which requires paying entrance fees when visiting any of the more than 1,500 participating lounges. Priority Pass lounge entrance fees are typically $35 per visit.
Wells Fargo Signify Business Cash Card drawbacks
The Wells Fargo Signify Card is a business cash-rewards card that includes many appealing features without an annual fee. However, it lacks a couple of features that other small business credit cards provide including.
Similar cards include purchase protection and an extended warranty, which cover eligible business purchases. You won’t get this peace of mind on big expenses with the Wells Fargo Signify Card. You also won’t receive travel protections beyond primary rental car protection. The card does not offer trip cancellation/interruption insurance, trip delay protection or baggage insurance.
our partner
Blueprint receives compensation from our partners for featured offers, which impacts how and where the placement is displayed.
Ink Business Unlimited® Credit Card
How the Wells Fargo Signify Business Cash Card compares to other business cards
Wells Fargo Signify Business Cash Card vs. Ink Business Unlimited® Credit Card
The Ink Business Unlimited® Credit Card is another no-annual-fee small business cash-back credit card. It earns at a slightly lower rate than the Signify with 1.5% cash back on purchases. The Ink Business Unlimited also has a larger welcome bonus offer of $750 cash back after spending $6,000 on purchases in the first three months of account opening. When paired with an eligible Chase credit card, you can unlock travel loyalty partners for valuable travel redemptions.
Both cards also feature primary rental car protection, but the Ink Business Unlimited also includes purchase protection and extended warranty coverage. That said, over time, the higher earnings on the Wells Fargo Signify Business Cash Card will make it a better choice for most.
Wells Fargo Signify Business Cash Card vs. The Blue Business® Plus Credit Card from American Express * The information for the The Blue Business® Plus Credit Card from American Express has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
With the Amex Blue Business Plus (terms apply), you’ll earn flexible points without paying an annual fee. The card earns 2 Membership Rewards® points per $1 on everyday business purchases up to the first $50,000 spent per year, then 1 point per $1 on all other purchases. While the Wells Fargo Signify Card earns unlimited 2% cash rewards on purchases, smaller businesses likely won’t exceed the annual spending cap of the Amex Blue Business Plus. The Amex card also includes a similar intro APR offer: 0% intro APR on purchases for the first 12 months, then a variable APR of 18.49% to 26.49% applies.
The Blue Business® Plus Credit Card from American Express * The information for the The Blue Business® Plus Credit Card from American Express has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. includes complimentary purchase protection and extended warranty coverage¹, as well as rental car insurance², although coverage is secondary not primary. However, its welcome bonus is smaller, offering 15,000 Membership Rewards points after spending $3,000 in eligible purchases in the first three months of card membership. Ultimately, the best choice between the two will depend on whether you prefer earning straight cash rewards or transferable rewards.
All information about The Blue Business® Plus Credit Card from American Express has been collected independently by Blueprint.
Wells Fargo Signify Business Cash Card vs. Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit card * The information for the Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
Business owners with large deposit or investment balances may be eligible for enhanced rewards from the Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit card * The information for the Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. . This card has no annual fee and it earns unlimited 1.5% cash back on purchases. However, those who qualify for Preferred Rewards, will earn up to 75% more on every purchase, so those at the highest tier will earn up to 2.625% cash back on every purchase, which is about 30% higher than the Wells Fargo Signify Card.
The Business Advantage card’s intro APR offer on purchases lasts just nine months, and it doesn’t include rental car protection, but those who qualify for the bank’s higher rewards will find it’s still a more rewarding choice.
The Wells Fargo Signify Business Cash Card is right for you if:
- You want to earn simple rewards on your business spending without an annual fee.
- You can benefit from the card’s intro APR offer on purchases.
- You want a card that doesn’t cap your earning potential.
Frequently asked questions (FAQs)
Yes, this business credit card is worth it to business owners seeking a card that earns unlimited and generous cash rewards. Other perks include a generous welcome bonus, no annual fee and an introductory APR offer on purchases.
The Wells Fargo Signify Business Cash Card does not charge an annual fee. This keeps your costs low and allows you to benefit from the card’s unlimited cash rewards.
Like all rewards cards, you’ll likely need a good or better credit score to qualify for this card. FICO generally defines this as a score of 670 or higher, although issuers consider a variety of factors including your income and overall debts. Even though it’s a card designed for a small business, like most business credit cards, the issuer will consider your personal credit profile when making their approval decision.
¹Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.
²Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.
*The information for the Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit card, The Blue Business® Plus Credit Card from American Express, Wells Fargo Autograph Journey℠ Visa® Card and Wells Fargo Signify Business Cash World Elite Mastercard® has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
Blueprint is an independent publisher and comparison service, not an investment advisor. The information provided is for educational purposes only and we encourage you to seek personalized advice from qualified professionals regarding specific financial decisions. Past performance is not indicative of future results.
Blueprint has an advertiser disclosure policy. The opinions, analyses, reviews or recommendations expressed in this article are those of the Blueprint editorial staff alone. Blueprint adheres to strict editorial integrity standards. The information is accurate as of the publish date, but always check the provider’s website for the most current information.
