Wells Fargo Visa® Signature® Card: Flexible rewards with an introductory APR offer

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In a Nutshell

The Wells Fargo Visa® Signature® Card is an average rewards card with a flexible rewards-redemption system and a $0 annual fee. It also has an introductory 0% APR offer on both purchases and balance transfers.

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Pros Cons
Bonus rewards for qualifying purchases within the first six months Low rewards rate after the bonus period ends
No annual fee Foreign transaction fees
Introductory APR offer on purchases and balance transfers

What you need to know about the Wells Fargo Visa® Signature® Card

This card can be a good option for someone who wants both an intro APR offer and cash back rewards. But both perks come with strings attached.

You can take advantage of an intro 0% APR on both purchases and balance transfers for the first 15 months after opening the account (and then a variable 14.74% to 27.74% APR on both). But you’ll need to make balance transfers within the account’s first 120 days to get the intro offer, as well as pay an introductory balance transfer fee of 3% (minimum $5). (Any transfers you make after the 120 days will be charged a balance transfer fee of up to 5%, with a minimum of $5.)

And for the rewards rate, you’ll need to read the fine print so that you’re not surprised when it drops in six months.

Here’s more on what you should know about this card.

Introductory purchase and balance transfer APR offer

If you’re looking for a card with an intro offer for a significant length of time, this card could work. It comes with an intro 0% APR on both purchases and balance transfers for the first 15 months your account is open.

But as we’ve pointed out, there are some additional items you’ll want to note.

  • After the intro period is over, you’ll pay a variable 14.74 to 27.74% APR for purchases and balance transfers.
  • There’s an intro balance transfer fee of either 3% ($5 minimum) of the amount of the transfer for 120 days from account opening. After that, the fee goes up to 5% for each balance transfer ($5 minimum).
  • You must make your balance transfer request within 120 days of your account opening for it to be eligible for the introductory APR and balance transfer fee.

Getting a card with an introductory APR of 0% on purchases and balance transfers can be helpful if you need extra time to finance a large purchase or pay off your debt. But remember, you’ll want to pay off any purchases and transferred balance in full before the introductory period is over, otherwise you may end up paying a ton in interest. 

More rewards potential for the first six months

The Wells Fargo Visa® Signature® Card offers a generous rewards program for the first six months the account is open (and only the first six months): You earn five points for every $1 spent on purchases in the categories listed below, on up to $12,500 (and then one point per $1 after that cap is hit). This breaks down to one base point and four bonus points for each $1 spent.

With the spending cap, the maximum number of bonus points you can earn is 50,000 on purchases in the following categories:

  • Grocery stores
  • Gas stations
  • Drugstores

Any purchases that don’t fall into those three categories earn the card’s standard one base point for each $1 spent.

One really important note: After the six months are up (or after you hit the $12,500 cap), you only get one point per $1 spent on purchases, regardless of the category. This turns a pretty-good rewards rate into a disappointing one. If you’re primarily looking for points, miles or cash back perks, you may want to look elsewhere.

Multiple redemption options

This card gives you redemption flexibility, with multiple ways to use the points you earn, including …

  • Flights, hotels, rental cars and cruises
  • Merchandise and gift cards
  • Cash back
  • Charitable donations

Each point is worth 1 cent. This means that if you’d like to redeem your points for something that costs $100, you’ll need 10,000 points.

Cash must be redeemed in $25 increments, and can be automatically deposited into an eligible Wells Fargo account or you can request a check. You can also redeem it in $20 increments from a Wells Fargo ATM — if you have a Wells Fargo debit or ATM card.

If you’re looking to redeem points on air travel, this card offers an extra bonus. Each point is worth $0.015 (so 1.5 cents) when you use your points to purchase an airline ticket. For example, 20,000 points could be redeemed for $200 cash back. But if you were to use the points for a flight, 20,000 points would get you a $300 flight.

Other things to know

There are a few other things you’ll want to know when considering this card.

  • There’s no annual fee, which means you can earn rewards without having to worry about paying a fee once a year.
  • If you’re planning to use this card while you travel, know that it does come with travel benefits (lost-luggage reimbursement and trip-cancellation insurance, for example).
  • Though the card has those travel benefits, you might want to leave it at home when you travel abroad, since it charges a 3% foreign transaction fee.

Who this card is good for

The Wells Fargo Visa® Signature® Card is a good option for someone looking for a cash back rewards card with an intro APR offer on purchases and balance transfers that lasts a while. After your account opens, you’ll get 15 months with an introductory 0% APR on purchases and balance transfers, which can be helpful — as long as you have a plan in place to pay off the balance before the introductory period is up. Just make sure you’re prepared to make any balance transfers within the first 120 days to get the offer for balance transfers (and to pay the intro balance transfer fee of 3%, or $5 minimum, rather than the regular fee of 5%, or $5 minimum).

If you’re looking to earn points quickly, this card might not be the best option for you. The Wells Fargo Visa® Signature® Card doesn’t offer a great rewards rate, outside of the initial six-month bonus period.

Not sure if this is the card for you? Consider these alternatives.

If this card isn’t quite the right fit, take a look at these other options.