The Wells Fargo Business Elite Card has an introductory offer of $500 bonus cash or 50,000 bonus points (which will depend on the rewards program of your choice) whenever your company makes at least $15,000 spent in the first 3 months. Even though this looks like an amazing offer to have, there are lots of requirements that must be met before you are able to sign up. Remember that companies with their annual sales larger than $1 million will be able to sign up for the Wells Fargo Business Elite credit card.
An eye catcher for this Wells Fargo Business Elite credit card is how simple it is to manage their employees accounts. However, if you want a stronger earning rate, then you should consider looking into other credit cards that will give you more value for its worth.
Wells Fargo Business Elite Card Summary
| Bonus Available | Receive a one-time $1,000 cash back bonus or 100,000 bonus points when you sign up for the Business Elite Card Rewards Program and make a minimum of $15,000 spent in the first 3 months of opening your account. |
| Bonus Value | $1,000 |
| Ongoing Rewards/Benefits | Cash back option: Gain 1.5% cash back on each $1 used for daily expenses.
Rewards points option: Get 1 point for each $1 used for all expenses. Gain 5,000 bonus points when a minimum of $10,000 is spent in any monthly billing period. Receive a 10% point credit if you go online to redeem your points. Up to 200 employee cards at no extra cost. |
| Foreign Transaction Fees? | No |
| Annual Fee | $0 first year, and then $125 |
Recommended Free Credit Score (Get Free Score)
720 – 850 (Excellent)
The Business Elite Credit Card is issued by Wells Fargo. They also offer great sign-up bonuses. You can also compare this card with other credit card bonuses!
Bonus value is an estimated value calculated by BankCheckingSavings and not the card issuer.
View our latest valuations here.
Pros
- Welcome bonus
- Choice of cash back or points rewards
- Free employee cards
- Business tools
- No foreign transaction fees
Cons
- Excellent credit needed to qualify
- Rewards program fee
Editor’s Alternate Pick
 The Ink Business Preferred® Credit Card offers 90,000 bonus points after you spend $8,000 on purchases in the first 3 months from account opening. That's $900 cash back or $1,125 toward travel when redeemed through Chase TravelSM. 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 TravelSM. This card does come with a $95 annual fee but does not have any foreign transaction fees. |
$1,000 Cash Back Bonus or 100,000 Bonus Points Offer
Depending on which program you choose to use will decide the welcome bonus that you will be receiving.
If you pick the cash back bonus, you will be able to gain $500 for statement credits once you charge your card with a minimum of $15,000 in the first 3 months of opening your account. Picking the bonus points offer, you will be able to gain 50,000 bonus points once you charge your card with the same amount within the same time period.
You must sign up for the Business Elite Card Rewards Program to be able to qualify for either of the bonuses that have been offered.
Here are some ideas on meeting the spending requirement:
Redeeming Your Business Elite Rewards
When redeeming your rewards, it will depend on which program you chose to use.
Cash back redemptions are easy to understand. You’ll get your rewards immediately as either:
- A credit to your statement, or
- An eligible checking or savings account each quarter (March, June, September and December)
Points redemptions are a bit more difficult. They will be able to used towards:
- 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’s purchases get to $10,000 in a monthly billing period.
Receive a 10% point credit if you go online to redeem your points.
Gain extra bonus points or discounts from Earn More Mall retailers.
Put spending controls on every credit card on the account like:
- Office administration: Restricting purchases to office-related things such as: printing, copying, and equipment rentals.
- Travel: Used for employees that have lots of business related travels.
- Driving: Control driving purchases like gas, tolls, and parking.
- Transaction limits: Limit how much can be spent on expenses.
- Business hours: Restrict your employee purchases to business hours.
Cash management tools include:
- Control the spending, payments, and transfers all online.
- Make billing payments with the credit card.
- Immediately make a billing payment for your credit card.
- Stray away from overdrafts and returned check fees.
Business Elite online reporting will simply benefit you when managing your business purchases. The free service will allow you to:
- Track and manage cardholder spending, payments and other transactions
- Analyze spending by category
- View spending by merchant
- Create custom reporting
Other business perks will also have other benefits such as:
- Up to 200 free employee cards
- Showcase your business using Card Design Studio
- Choose between consolidated billing or individual cardholder billing
- Assign up to 3 administrators to manage accounts on behalf of the company
Buy things overseas without having to stress over any foreign transaction fees with the Wells Fargo Business Elite credit card.
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Conclusion
If you want to be eligible to own the Wells Fargo Business Elite credit card, your company has to make more than $1 million in sales every year. With this requirement by itself, makes the credit card harder to gain for an average business owner.
However, if you do meet the qualification, then you will be able to benefit from the amazing management perks and business reporting essentials. This will be a good match for companies that normally have many employees with them.
In other words, the Wells Fargo Business Elite credit card will not offer you the best for your moneys worth. There are lots of other credit card offers that have more bonus categories that offer you a higher earning potential.
(Visit Wells Fargo for more information)
What’s the Competition?
There are some of Wells Fargo Business Elite credit card’s top competitors listed below.
The Ink Business Preferred® Credit Card offers 90,000 bonus points after you spend $8,000 on purchases in the first 3 months from account opening. That's $900 cash back or $1,125 toward travel when redeemed through Chase TravelSM. 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 TravelSM. This card does come with a $95 annual fee but does not have any foreign transaction fees. |
 The Business Platinum Card® from American Express has a welcome offer of 250,000 Membership Rewards points after you spend $20,000 in eligible purchases on the Card within the first 3 months of Card Membership. You'll earn: • 5X Membership Rewards Points on Flights, and Prepaid Hotels Booked through AmexTravel.com. • 1X points on other eligible purchases. • 1.5X points (that's an extra half point per dollar) on each eligible purchase at US construction material, hardware suppliers, electronic goods retailers, and software & cloud system providers, and shipping providers, as well as on purchases of $5,000 or more, on up to $2 million per Card Account per calendar year. Purchases eligible for multiple additional point bonuses will only receive the highest eligible bonus. • Unlock over $1,000 in statement credits on select purchases, including tech, recruiting and wireless in the first year of membership with the Business Platinum Card. Enrollment required. See how you can unlock over $1,000 annually in credits on select purchases with the Business Platinum Card • Fly like a pro with a $200 Airline Fee Credit. Select one qualifying airline to receive up to $200 back per year on baggage fees and other incidentals. • $199 CLEAR Plus Credit: Use your card and get up to $199 in statement credits per calendar year on your CLEAR Plus Membership (subject to auto-renewal) when you use the Business Platinum Card. • NEW! Make the Business Platinum Card work even harder for you. Hilton For Business members get up to $200 back per calendar year when you make an eligible purchase at Hilton properties across the globe. Benefit enrollment required. This card does come with a $695 annual fee. (See Rates & Fees) Terms Apply. |
 The Capital One Spark Miles for Business offers a one-time bonus of 50,000 miles - equal to $500 in travel - once you spend $4,500 on purchases within the first 3 months from account opening. You'll earn: • 2 Miles per $1 on every purchase, everywhere. • 5 Miles per dollar on hotels, vacation rentals and rental cars booked through Capital One Travel. Receive up to a $120 credit for Global Entry or TSA PreCheck There is an annual fee of $95, however, there is a $0 intro annual fee for the first year. Enjoy no foreign transaction fees and fly on any airline, anytime, with no blackout dates or seat restrictions. |
