Wells Fargo business credit cards review: the Signify lineup

Wells Fargo business credit cards at a glance

*Essential and Elite are legacy products no longer available to new applicants. Fees shown for existing accounts are based on published historical terms and may not reflect the terms of every converted account.

The Signify Business Cash is the only Wells Fargo business credit card in the Signify lineup currently accepting new applications. Wells Fargo says it is no longer accepting applications for the Signify Business Essential, Signify Business Elite or several older business cards.

Let’s dig deeper in our Signify Business Cash card review.

Wells Fargo Signify Business Cash review

The Wells Fargo Signify Business Cash® Card is a straightforward business credit card for owners who want a flat rewards rate rather than bonus categories. The card earns unlimited cash rewards on qualifying purchases, with no annual cap and no categories to track. Cash rewards don't expire while the account remains open.

That simplicity is really the card's biggest selling point. A business can use it to pay for advertising, office supplies, software, inventory, professional services, or other eligible purchases without having to figure out which category earns the highest rate.

Signify Business Cash rewards

Earn unlimited 2% cash rewards on purchases for your business – without caps or spending categories. For example, a business that puts $50,000 in qualifying purchases on the card over a year would earn $1,000 in cash rewards.

Certain transactions don't qualify, including cash advances and cash equivalents, balance transfers, fees and interest, gambling transactions, and some other excluded transactions.

You can redeem cash rewards in a variety of ways, including cash redemptions, charitable donations, physical and electronic gift cards, travel, and statement credits to eligible accounts.

Welcome offer

Earn a $500 cash rewards bonus when you spend $5,000 in purchases for your business in the first 3 months.

That's a relatively modest spending requirement for an active business.

0% introductory APR

The Wells Fargo Signify Business Cash® Card offers a 0% intro APR for 12 months from account opening on purchases, then a 16.99% - 24.99% Variable APR applies.

A 0% intro APR business credit card like this can be useful for making large purchases or managing a temporary cash-flow gap. Just make sure you have a plan to pay the full balance before the promotional period ends; otherwise you could be on the hook for substantial interest charges.

No annual fee

The Wells Fargo Signify Business Cash® Card has $0 annual fee, making it easy to justify as a long-term business spending card even after the welcome offer and intro APR promotion.

However, the card does have a 3% foreign transaction fee, which makes it less attractive for businesses with significant international spending or travel outside the U.S.

Wells Fargo Signify Business Cash® Card travel and purchase benefits

With no annual fee, you might assume the Wells Fargo Signify Business Cash® Card is a no-frills card. But it’s more interesting than its simple 2% rewards rate might suggest.

As a World Elite Mastercard®, it comes with several travel protections and services, including primary rental car insurance, baggage delay reimbursement, travel accident insurance, and Priority Pass airport lounge access.

Primary rental car coverage

One of the card's standout benefits is primary rental car insurance, which is an unusual benefit on a no-annual-fee business card. This makes the Wells Fargo Signify Business Cash® Card particularly useful for business owners who regularly rent cars.

When you rent an eligible vehicle for 31 consecutive days or less, pay for the rental with the card or eligible rewards, and decline the rental company's collision/damage waiver, the MasterRental benefit can provide primary coverage for physical damage and theft of the rental vehicle. It can also cover eligible loss-of-use and towing charges.

As with any credit card car rental coverage, there are exclusions and requirements. For example, certain types of rental vehicles are excluded, such as:

• Trucks, pickups, full-size vans, cargo vans, campers, off-road vehicles, and RVs
• Sport utility trucks
• Trailers, motorbikes, motorcycles, and other vehicles with fewer than four wheels
• Antique vehicles and limousines

In addition, the benefit doesn't cover personal liability or injuries. Read the current Guide to Benefits before relying on the coverage.

Baggage delay reimbursement

The card also provides baggage delay reimbursement when eligible checked baggage is delayed or misdirected by a common carrier for more than four hours. To qualify for coverage, you must pay for your fare with the card or rewards from the card.

Coverage is up to $300 per covered traveler per trip, although New York residents are subject to a $300 total maximum for all covered travelers per trip. The coverage is secondary, meaning other available reimbursement (such as from the airline) generally pays first.

This isn't the same as comprehensive lost-baggage insurance. It is designed to reimburse eligible essential purchases, such as toiletries or a change of clothes, when checked baggage is delayed. Be sure to read the card’s Guide to Benefits for exclusions.

Travel accident insurance

The card includes up to $250,000 in worldwide automatic common-carrier travel accident insurance for covered trips. For coverage to apply, you must use the card or eligible rewards from the card to pay for your fare.

Coverage maximums vary by type of accident and loss. 

Priority Pass airport lounge access

Wells Fargo Signify Business Cash® Card cardholders can register for a complimentary Priority Pass membership with access to more than 1,300 lounges worldwide. But there's an important catch: lounge visits are pay-as-you-go rather than an included no-additional-cost benefit. Cardholders can use their Priority Pass membership, but must pay the applicable fee with their Signify card for each visit.

That makes this perk considerably less valuable than the complimentary lounge access included with some travel cards, but it can still be useful for occasional travelers who don’t want the high annual fee of a premium credit card.

Is the Wells Fargo Signify Business Cash® Card good for travel?

For domestic business travel, the Wells Fargo Signify Business Cash® Card is a good option, especially for built-in travel insurance coverage. But for international travel, not so much. 

The primary rental car coverage is a particularly nice fit for business owners who frequently rent cars in the U.S., and the baggage delay and travel accident coverage provide additional protection when flying.

However, the 3% foreign transaction fee makes the card a poor choice for routine purchases outside the U.S. The 2% cash rewards rate doesn't outweigh a 3% foreign transaction fee, so businesses with significant international expenses should look at no-foreign-transaction-fee cards instead.

Who is the Wells Fargo Signify Business Cash® Card best for?

The Wells Fargo Signify Business Cash® Card may be a good fit for business owners who:

• Want a simple, flat 2% cash rewards rate
• Don't want to track spending categories
• Want a business card with no annual fee
• Can meet the $5,000 spending requirement for the welcome offer
• Can take advantage of the introductory APR
• Regularly rent cars for domestic business travel
• Want primary rental car coverage without paying an annual fee

It’s less appealing for businesses that:

• Buy from international vendors or take business trips abroad
• Spend heavily in categories where another card offers a higher rewards rate
• Prefer transferable travel points rather than cash rewards
• Want complimentary airport lounge access

Wells Fargo Signify Business Cash® Card pros and cons

Signify Business Essential and Elite

The Signify Business Essential and Signify Business Elite are still included in Wells Fargo's business card documentation, but they aren't available to new applicants. They're only relevant to existing cardholders whose older Wells Fargo business accounts were converted to Signify products.

Signify Business Essential

The Signify Business Essential participates in Wells Fargo's Business Rewards® Program, which earns points based on qualifying purchases. It also comes with benefits similar to the Wells Fargo Signify Business Cash® Card, with the addition of lost luggage reimbursement of up to $3,000 per trip for all covered travelers. For New York residents, it’s $2,000 per bag, for a total of $3,000 for all covered travelers.

If you’re currently shopping for a Wells Fargo business card, there's no reason to compare the Essential to the Wells Fargo Signify Business Cash® Card because Essential isn't an application option.

Signify Business Elite

Similarly, the Signify Business Elite is another legacy/conversion product that’s no longer available to new applicants. It also earns points on qualifying purchases and comes with the same World Elite Mastercard benefits as the Signify Business Essential card.

Existing Elite cardholders may continue to use the product under the terms of their account, but new applicants seeking a Wells Fargo business card should look at the Signify Business Cash instead.

What happened to the old Wells Fargo business cards?

Wells Fargo stopped accepting new applications for its legacy business credit cards, and existing cardholders were switched to newer products in the Signify lineup in early 2024. But you might still see references to the Wells Fargo Business Platinum, Business Elite Signature, and Signature Business cards online even though they're not available to new applicants.

Wells Fargo's current business card documents page lists the Business Essential and Business Elite for existing cardholders, but it specifically states that the bank is no longer accepting applications for them.

The Wells Fargo Signify Business Cash® Card, launched in May 2024, is the only Wells Fargo business card currently available to new applicants.

What about the Wells Fargo Business Secured Credit Card?

Wells Fargo stopped accepting new applications for the Wells Fargo Business Secured Credit Card in 2022. The bank later wound down existing secured accounts in 2023, with existing cardholders reporting that their accounts were converted to unsecured business cards.

How to qualify and apply for the Wells Fargo Signify Business Cash® Card

Wells Fargo doesn't publish a minimum credit score for the Wells Fargo Signify Business Cash® Card . However, online reports suggest a good-to-excellent personal credit score will give you the best chance of approval. 

Its current application disclosures state that Wells Fargo obtains a consumer credit report on the account guarantor and business-entity reporting from the Small Business Financial Exchange (SBFE) when considering the application. That means your personal credit history still matters, even though you're applying for a business credit card.

If approved, your minimum credit limit will be at least $2,500.

Nav is not a lender or a credit bureau. Credit information is provided by third-party sources.

What credit score do you need?

There isn't a reliable credit score cutoff for the Wells Fargo Signify Business Cash® Card. But anecdotal reports from online forums show approvals across a fairly wide range of credit profiles. 

For example, one myFICO user reported a $60,000 starting limit with credit scores of 751, 793, and 790, while another reported approval despite scores in the high 600s to low 700s.

More recent posts on Reddit also show approvals around 790, including one sole proprietor who reported only $5,000 in annual business revenue and received an $8,000 starting limit. That applicant didn’t have an active Wells Fargo checking account at the time of application.

Important: These reports are anecdotal and shouldn't be interpreted as Wells Fargo's approval criteria. However, they do suggest that a particular credit score threshold isn't the whole story.

Does a Wells Fargo banking relationship matter?

Some applicants have reported that it did, although it isn't a published requirement.

A Reddit post from one early Signify applicant reported being initially denied after having a Wells Fargo checking account for about 30 days, then being approved after waiting until the account had been open for more than 60 days. Other applicants have subsequently reported approval without an active Wells Fargo deposit account.

While you don't appear to need an existing Wells Fargo banking relationship to qualify, the bank may consider its relationship with an applicant as part of its decision.

Can Wells Fargo ask for additional documentation?

Yes, some applicants have reported being asked for documentation such as an IRS EIN confirmation letter before their applications were finalized. Others have reported completing the process without additional business documentation.

Don't necessarily interpret a pending application or documentation request as a denial. Wells Fargo says applicants who aren't instantly approved will receive a credit decision or request for additional information within five to seven business days.

What you'll need to apply

Before you apply for the Wells Fargo Signify Business Cash® Card, be prepared to provide information such as:

• Your legal business name
• Business address and contact information
• Business structure and industry
• Business tax identification information
• Annual business revenue
• Estimated monthly business spending
• Time in business, number of employees, and estimated monthly spend
• Personal identifying information
• Personal income information

Sole proprietors can apply using an EIN, SSN, or ITIN. Regardless of business structure, Wells Fargo's application requires an account guarantor who is personally responsible for the account.

Check your options before applying

If you're not sure whether the Wells Fargo Signify Business Cash® Card is a good fit for your business or whether you may qualify, comparing business credit card options through Nav can help you evaluate cards before submitting an application.

Alternatives you can get through Nav

The Wells Fargo Signify Business Cash® Card isn't the only business credit card that offers a simple, high-rate rewards structure with no annual fee.

For example, The American Express Blue Business Cash® Card is one alternative worth considering for those who want a flat-rate cash-back business card.

The Blue Business® Plus Credit Card from American Express is another strong pick if you prefer a card that earns flexible, transferable travel points.

Depending on your spending patterns and preferences, other business cards may offer higher rewards in specific spending categories or different travel benefits. Here are some others to consider.

The bottom line

The Wells Fargo Signify Business Cash® Card is the only Wells Fargo business card available to new applicants. Its combination of unlimited 2% cash rewards, no annual fee, a generous welcome offer and introductory APR makes it attractive to owners who want an easy-to-use rewards card. But the card's benefits may be equally compelling for some businesses.

Primary rental car coverage and Priority Pass pay-as-you-go membership are particularly noteworthy for a no-annual-fee card, while baggage delay reimbursement and travel accident insurance can add useful protection for business trips. For businesses that operate primarily within the U.S., those perks can make the Wells Fargo Signify Business Cash® Card especially appealing. International travelers should give the card a skip, however, because the 3%foreign transaction fee wipes out its 2% cash rewards rate and then some.

Meanwhile, the Signify Business Essential and Elite cards — along with the older Wells Fargo Business Platinum and other legacy products — are only relevant to existing cardholders. 

Frequently asked questions