Small Business News

Wells Fargo Introduces Signify Business Cash Credit Card

by Kyle BurbankMay 10, 2024

Wells Fargo has launched a new business rewards credit card.

About the Signify Business Cash Card:

This week, Wells Fargo announced the debut of the Signify Business Cash World Elite Mastercard. With the card, business owners can earn 2% cash rewards on purchases with no cap. These rewards can then be redeemed for statement credits, a direct deposit into an eligible Wells Fargo account, gift cards, travel, and more.

Notably, the Signify Business Cash card does not carry any annual fee. Plus, employee cards can be added to an account at no additional cost. With the Signify Business Cash being a World Elite Mastercard (which is the top tier of Mastercard), customers are also entitled to some additional benefits, such as MasterRental Insurance coverage, baggage delay reimbursement, a pay-as-you-go Priority Pass, and more.

For the card’s launch, Wells Fargo is also offering a welcome bonus. Currently, new Signify Business Cash card customers can earn $500 in bonus rewards after spending at least $5,000 on the card within their first three months from account opening. On top of that, the Signify Business Cash card has a 12-month 0% intro APR offer.

What they’re saying:

Announcing the new card, Wells Fargo’s Head of Small Business Card Jeff Hofmann said, “At Wells Fargo, we recognize that managing a small business can be complicated and business owners need the best tools to continue to succeed. Business owners told us that cash rewards programs had become too complex and didn’t provide enough value for their business.” Hoffman added, “We designed Signify Business Cash to give business owners the spending capacity they need to better manage their cash flow with the simplicity, value and transparency they want.”

Looking ahead, Hofmann noted that this card is the first step in an initiative for Wells Fargo, stating, “Signify Business Cash is our first step in the transformation of business credit cards at Wells Fargo. We will continue to identify new and innovative ways to support small business owners and meet their needs.”

My thoughts:

Admittedly, business credit cards aren’t my forte. However, I do know that two of the cards I see often mentioned are the Chase Ink Business Unlimited and the Captial One Spark Cash Select. Both of those cards offer 1.5% cashback. So, with that context, it would seem as though this new Signify Business Cash card could be a good deal for small business owners. This is especially true given the current 0% APR offer, which could be useful for businesses in need of some additional capital.

Author

Kyle Burbank

Head Writer ~ Fioney

Kyle is the head writer for Fioney. He is a personal finance nerd, constantly looking for new apps and services to test and incorporate into his own financial game plan. In addition to his role at Fioney, he's written for other publications including Born2Invest, Lifehack, and Laughing Place, as well as his own site Money@30. He also creates personal finance and travel-related videos for Fioney's YouTube channel, which has garnered more than 2 million views. Currently, Kyle resides in Springfield, Missouri with his wife of 10 years. Together, they enjoy traveling (including visiting Disney Parks around the world), dining, and playing with their dog Rigby.

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