Wells Fargo Signify Business Card Review 2024

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The information for the following product(s) has been collected independently by Business Insider: Signify Business Cash℠ Card by Wells Fargo, Wells Fargo Autograph Journey℠ Visa® Card, Capital One Spark Cash Plus†. The details for these products have not been reviewed or provided by the issuer.

Introduction to the Wells Fargo Signify Business Card 

You’re leaving money on the table if you own a business without using one of the best business credit cards to earn rewards on company expenses.

The Signify Business Cash℠ Card by Wells Fargo
is a no-annual-fee business credit card that simplifies earning and redeeming points and miles. This card stands out by offering cardholders unlimited 2% cash rewards on business purchases, and an initial year of zero-interest financing on new purchases. 

Wells Fargo Signify Business Card Overview

Wells Fargo has been revamping its credit card offerings of late, introducing several new rewards cards for consumers in the last few years. The issuer is also starting from scratch with its small business cards — the new Signify Business Cash℠ Card by Wells Fargo is the only business credit card available through Wells Fargo right now.

The Signify Business Cash℠ Card is a very simple card, but one that delivers very strong value. It comes with a strong welcome bonus, competitive rates of cash rewards, and a valuable introductory financing period. Most impressively, these benefits come with numerous cardholder perks and no annual fee. 

Wells Fargo Signify Business Card Rewards

When it comes to offering competitive rewards and benefits, the Signify Business Cash℠ Card hits all of the right notes without being too complicated. 

Welcome Bonus 

New applicants can access a generous welcome offer: Earn a $500 cash rewards bonus when you spend $5,000 in purchases in the first three months.

How to Earn Rewards with the Wells Fargo Signify Business Card

This card offers unlimited 2% cash rewards on business purchases. There are no bonus categories. 

How to Use Rewards with the Wells Fargo Signify Business Card

Rewards earned on the Signify Business Cash℠ Card can be redeemed in several ways. You can redeem your rewards as a credit statement credit toward your account, or at a rate of one cent per point toward gift cards or travel reservations. 

Combining your rewards with the new Wells Fargo Autograph Journey℠ Visa® Card
consumer credit card is a new, intriguing option. Cardholders with both cards can transfer points from the Signify Business Cash℠ Card to the Wells Fargo Autograph Journey℠ Visa® Card, then use those rewards for airline miles or hotel points.

If you can redeem those points or miles for high-value travel reservations, you can receive significantly more value from your rewards. 

Wells Fargo Signify Business Card Benefits and Features

This card offers several valuable cardholder benefits, which we’ll explore below.

Primary Rental Car Insurance

When you use the Signify Business Cash℠ Card to pay for your rental car, you get a rental car insurance policy that covers theft and damage.

This benefit is exceptional because it offers primary coverage, meaning you don’t have to file the initial claim through your personal automobile insurer. In contrast, most credit cards that offer rental car insurance require you to first file a claim on your own policy, which could raise your rates. 

Limited Priority Pass Membership

The Signify Business Cash℠ Card comes with complimentary membership to the Priority Pass network of airport lounges. The good news is that this network includes over 1,000 lounges worldwide.

However, the Priority Pass membership offered through the Signify Business Cash℠ Card comes with an additional “pay as you go” lounge entrance fee of $35 per person, per visit. This membership may be worthwhile for occasional travelers, but isn’t as valuable as the memberships offered by premium travel rewards cards that come with unlimited complimentary visits. 

Mastercard ID Theft Protection

Mastercard ID Theft Protection offers detection and protection against identity theft. Features include activity monitoring and suspicious transaction alerts, along with expert resolution services should you become a victim of fraud. To activate this benefit, you’ll have to enroll in the Mastercard membership program. 

Wells Fargo Signify Business Card Annual Fee and Other Costs

This card has no annual fee, but you’ll pay a foreign transaction fee of 3% of each transaction converted to U.S. dollars on all charges processed outside the United States. The Signify Business Cash℠ Card also carries a cash advance fee and a late payment fee. 

Compare the Wells Fargo Signify Business Card 

The market for small business credit cards is very competitive, and several other major card issuers offer a plethora of rewards business cards. Some competing cards offer comparable rewards while charging an annual fee, while other no-fee cards offer less valuable rewards. This allows the Signify Business Cash℠ Card to occupy its own distinct place in this market. 

Capital One Spark Cash Plus†
vs. the Signify Business Cash℠ Card

Capital One Spark Cash Plus† cardholders earn 5% cash back on hotels and rental cars purchased through Capital One Travel. And unlike the Signify Business Cash℠ Card, the Capital One Spark Cash Plus† doesn’t charge foreign transaction fees. 

However, the Capital One Spark Cash Plus† also has a few drawbacks compared to the Wells Fargo Signify. Since it’s a charge card, cardholders must pay their entire balance in full. 

The Capital One Spark Cash Plus† also doesn’t offer a 0% intro APR period, and comes with a $150 annual fee unless you spend $150,000 on the card each year to waive the fee. Finally, rewards earned on this card can only be redeemed for cash; there’s no way to convert them to travel rewards points or miles. 

Learn more in our Capital One Spark Cash Plus card review.

The American Express Blue Business Cash™ Card vs. the Signify Business Cash℠ Card

Learn more in our Amex Blue Business Cash card review.

Ink Business Unlimited® Credit Card vs. the Signify Business Cash℠ Card

The Ink Business Unlimited® Credit Card is one of the best small-business credit cards, offering 1.5% cash back on all purchases with no caps. This card also comes with an intro APR of 0% intro APR on purchases for the first 12 months (then 18.49% – 24.49% Variable APR), matching the initial benefit on the Signify Business Cash℠ Card. Similarly, the Ink Business Unlimited® Credit Card also has no annual fee but charges a foreign transaction fee of 3% of each transaction in U.S. dollars. 

Learn more in our Chase Ink Business Unlimited credit card review. 

Wells Fargo Signify Business Card Cardholder Insights

Some savvy individuals online have discovered that Wells Fargo appears to be introducing a line of Signify business cards, with the Signify Business Cash℠ Card potentially being just the first of several.

According to public records, other card names that Wells Fargo has trademarked include the Signify Business Essential Mastercard and the Signify Business Elite Mastercard.

Adding more substance to this theory, the Priority Pass landing page also mentions these other Signify products by name. But it remains to be seen when or if these other products will be released, and what their features will be.

The Signify Business Cash℠ Card offers new opportunities to maximize rewards, since cardholders can transfer rewards to the new Wells Fargo Autograph Journey, where rewards can be converted to airline miles and hotel points through the issuer’s new travel partners. However, the Autograph Rewards program currently has just six transfer partners compared to the dozen-plus offered by many competitors such as Chase, American Express, Citi, Capital One, and Bilt. 

Wells Fargo Signify Business Card Frequently Asked Questions

Why You Should Trust Us: How We Reviewed the Wells Fargo Signify Business Card

Our credit card team reviewed the Signify Business Cash℠ Card by Wells Fargo by comparing it against similar small-business cards that offer cash-back rewards. We considered several factors including:

• Cash-back rewards — Are the rewards offered competitive compared to other similar cards? Do they offer multiple options for redeeming your rewards?
• Fees — Does this card have annual fees, foreign transaction fees or excessive fees for balance transfers or late payments?
• Benefits — Does this card offer valuable travel rewards and purchase protection benefits?
• Promotional financing offer — Does this card offer a 0% APR promotional financing offer for new purchases, balance transfers, or both?