Wells Fargo Business Platinum Card, $500 Bonus is Back
Wells Fargo Business Platinum Credit Card is once again offering a great signup bonus of $500. The offer is available till the end of September.
The Offer
- Get a one-time $500 cash back bonus when you enroll in the cash back rewards program and spend $5,000 in first three months. Offer valid 7/01/18 to 9/30/18.
No annual fee.
Card Benefits
- Earn 1.5% cash back
- 0% introductory rate for nine months
- No foreign transaction fee
Eligibility
- 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
- Must have a checking account for at least 12 months
Analysis
The Wells Fargo Business Platinum Credit Card has two options. You can either earn cash back or points. If you just want the bonus, then you have to enroll in cashback. You will then earn 1.5% cash back on all your purchases.
If you want to keep the card long term and put spend on it, then points are the better option. There’s a few requirements to maximize the value of points, but you could get up to 3.2 cents per point.
The card earns 1 point per dollar. But you get 1,000 bonus points when you spend $1,000 in a monthly billing period. That makes it 2X everywhere. The redemption value is not exactly clear, but there’s an option to use 25,000 points for one trip coach standard airfare of up to $400 in the 48 contiguous United States. That’s a maximum value of 1.6 cents pe point and 3.2X everywhere.
Conclusion
Most people will probably be going after the sign up bonus. $500 in cash is a good bonus, but you do need to spend $5,000 in the first three months. Not everyone will be able to apply, since you need to have a Wells Fargo checking account for a while. On teh plus side though this is a business card and it will not count towards your 5/24 status.
HT: Doctor of Credit
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Do you have to have an existing checking account for at least the last 12 months or do you have to open a checking account for at least 12 months?