Earn $500 bonus cash or 500,000 bonus points (depending on which rewards program you sign up for) with the Wells Fargo Business Elite Card when your company spends $15,000 within the first three months.
A great feature of the Wells Fargo Business Elite card is that you can easily manage and control employee accounts, making it good for small businesses. However, I recommend checking out other cards if you want a more powerful earning potential.
Also check out Wells Fargo bonuses for opening a checking/savings account.
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Wells Fargo Business Elite Card Quick Facts
|Bonus Available||Earn a one-time $500 cash back bonus or 50,000 bonus points when you enroll in the Business Elite Card Rewards Program and make at least $15,000 in purchases within the first 3 months of account opening.|
|Ongoing Rewards/Benefits||Cash back option: Earn 1.5% cash back on every $1 spent for all purchases.
Rewards points option: Earn 1 point on every $1 spent for all purchases. Get 5,000 bonus points when you spend at least $10,000 in any monthly billing period. Earn 10% point credit when you redeem points online.
Up to 200 employee cards at no extra cost.
|Foreign Transaction Fees||No|
|Annual Fee||$0 first year, and then $125|
- Welcome bonus
- Choice of cash back or points rewards
- Free employee cards
- Business tools
- No foreign transaction fees
- Excellent credit needed to qualify
- Rewards program fee
Editor’s Alternate Pick
The Ink Business Preferred® Credit Card offers 100k bonus points after you spend $15,000 on purchases in the first 3 months from account opening. That's $1,250 toward travel when redeemed through Chase Ultimate Rewards®.
You'll earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year; 1 point per $1 on all other purchases - with no limit to the amount you can earn. Furthermore, points are worth 25% more when you redeem for travel through Chase Ultimate Rewards.
This card does come with a $95 annual fee but does not have any foreign transaction fees.
$500 Cash Back Bonus or 50,000 Bonus Points Offer
The amount you receive depends on if you enroll in the cash rewards program or the rewards points program.
Cash back will earn you $500 as statement credit after you charge at least $15,000 to your card in the first 3 months of account opening. For the rewards points program, you will earn 50,000 bonus points if you charge the same amount in the same time frame.
You must enroll in the Business Elite Card Rewards Program in order to qualify for either of the bonuses.
Here are some ideas to meet the spending requirement:
Redeeming Your Business Elite Rewards
Additionally, depending on if you enrolled in the cash back rewards program or the rewards points program, your redemption options will differ.
Cash back redemptions are rather simple. You can earn your rewards automatically as:
- A credit to your statement, or
- To an eligible checking or savings account each quarter (March, June, September and December)
Points redemptions are a little more complex. You are able to use them for:
- Cash Rewards
- Gift cards
- Air travel
- Hotels, car rentals, cruises, vacation packages and travel activities
- Brand name merchandise
Wells Fargo Business Elite Card Top Features
Earn 5,000 bonus points when your company spends $10,000 in any monthly billing period.
Receive a 10% point credit when you redeem your points online.
Get extra bonus points or discounts from Earn More Mall retailers.
Determine what type of spending is allowed to each card on the account, such as:
- Driving-related expenses, such as gas, tolls and parking.
- Business hours. Allow the use of the company card during business hours only.
- Office administration. Set the spending to office-related purchases, like printing and equipment rentals.
- Spending limits. Create a limit on how much can be spent on purchases.
- Travel. For employees who travel for business purposes.
Cash management tools included:
- Manage your spending and any account transactions online
- Avoid overdrafts and returned check fees
- Pay bills with your card directly
- Pay your credit card bill automatically
Business Elite’s online reporting is a service that helps you manage your business expenses. It comes with:
- Cardholder spending, payments and other transaction management
- Create custom reporting
- Analyze spending by category
- View spending by merchant
Other business related perks:
- Maximum of 200 free employee cards
- Create a business card that defines your business using Card Design Studio
- Choose between consolidated billing or individual cardholder billing
- Assign up to 3 administrators to manage the cards
Make purchases abroad without the fear of those foreign transaction fees creeping up on you.
In order to get the Wells Fargo Business Elite card, your company must make over $1 million in sales each year, which might be out of reach for the average business owner.
However, if you are able to meet this requirement, there are many great account management and business reporting tools you can take advantage of, which makes it great for companies that have lots of employees.
For more credit cards, see our latest list of the best credit card bonuses!