Wells Fargo Rewards: How to Earn and Use Them

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Wells Fargo has revamped its credit card portfolio since this story was written. We are working on an update. For more updated information, see NerdWallet's best Wells Fargo credit cards.

If you have an eligible Wells Fargo credit card, you can earn rewards on your purchases in the form of Wells Fargo Rewards points.

Here's what to know about those points and the rewards program itself.

» MORE: NerdWallet's best Wells Fargo creadit cards

Wells Fargo Rewards: The basics

You earn Wells Fargo Rewards points by paying for purchases with an eligible Wells Fargo credit card, by shopping through the Wells Fargo online bonus mall (known as the Earn More Mall), or both.

You can access the Wells Fargo Rewards site by logging into your online Wells Fargo bank account, or directly via the Wells Fargo Rewards site itself. You can redeem points for:

• Cash back or statement credit

• Travel

• Gift cards

• Merchandise

• Digital rewards (software, games, etc.)

You'll also have access to limited-time offers as well as "auctions," where you can bid on featured items.

Generally, Wells Fargo Rewards points are worth 1 cent each, but see the "How to redeem" section below for exceptions and more information.

» MORE: How to use credit card bonus malls

Cards that earn Wells Fargo Rewards

Wells Fargo Active Cash® Card

• Earn 2% cash back on purchases (cash back comes in the form of Wells Fargo Rewards).

» MORE: Full review of the Wells Fargo Active Cash® Card

Wells Fargo Cash Wise Visa® card

• Earn 1.5% cash back on purchases (cash back comes in the form of Wells Fargo Rewards).

» MORE: Full review of the Wells Fargo Cash Wise Visa® card

Wells Fargo Cash Back College Visa Card

• Earn 3% cash back per dollar on gas, grocery and drugstore purchases for the first six months (cash back comes in the form of Wells Fargo Rewards).

• Earn 1% cash back per dollar spent on virtually all other purchases.

Wells Fargo Visa Signature® Credit Card

• Earn 5 points per dollar on up to $12,500 spent at gas stations, grocery stores and drugstores in the first six months after opening the account.

• Earn 1 point per dollar spent on all other purchases.

• Points take on 50% more value when redeemed for airfare.

Wells Fargo Rewards® Card

• Earn 5 points per dollar on up to $12,500 spent at gas stations, grocery stores and drugstores in the first six months after opening the account.

• Earn 1 point per dollar spent on all other purchases.

Wells Fargo Propel World American Express

• Earn 3 points per dollar spent directly with airlines.

• Earn 2 points per dollar spent on hotel bookings.

• Earn 1 point per dollar spent on all other purchases.

Wells Fargo Propel 365 American Express® Card

This card is no longer accepting applications.

» MORE: Wells Fargo credit cards mobile app review

How to redeem Wells Fargo Rewards

The Nerds recommend cash back, statement credit and travel as ideal redemption options. Generally, you can count on your points being worth 1 cent each regardless of what you redeem them for — although a notable exception is the Wells Fargo Visa Signature® Credit Card, which offers cardholders boosted value when redeeming points specifically for airfare. (Read the "for travel" bullet below for more on this option.)

• For cash back: A big plus with Wells Fargo Rewards is that if you have a Wells Fargo debit or ATM card, you can redeem points for cold, hard cash that you can hold in your hand that day. You'll just need to find a Wells Fargo ATM. You'll also need at least 2,000 points first (points redeem this way in $20 increments).

• For statement credit: You can redeem by phone or online via the Wells Fargo Rewards portal, but this must be in $25 increments, which can be applied directly toward your Wells Fargo checking, savings or other qualifying Wells Fargo account (or you can request that a paper check be mailed to you). Log into your Wells Fargo Rewards account, hover over "Use your rewards" at the top, select "Redeem to account" and follow the prompts.

• For travel: Log into your Wells Fargo Rewards account, hover over "Use your rewards" and select "Travel." You'll be taken to a site where you can search for flights, hotels, car rentals, vacation packages and more. As with cash back, points redeemed for travel are generally worth 1 cent each, unless you happen to have the Wells Fargo Visa Signature® Credit Card. With this card, Wells Fargo Rewards take on 50% more value when redeemed for airfare through the portal, making a point worth 1.5 cents when used this way. That rate increases to 1.75 cents per point if you spend $50,000 or more in a year on this card.

Other redemption options

Gift cards, merchandise, etc.: For any of these options, log into your Wells Fargo Rewards account, hover over "Use your rewards" and navigate to the appropriate category. Gift cards will net you a value of 1 cent per point, although cash will be more flexible than gift cards. When it comes to merchandise, you may find that redemption values can vary when compared to their cost on other websites. In some cases, you might snag a good deal. In other cases, you might be better off taking a cash redemption and buying the item on your own.

» MORE: What to expect from Wells Fargo's cell phone insurance

The fine print

Wells Fargo Rewards can be pooled with family members or friends who also earn the rewards currency, and they can be gifted to other Wells Fargo customers, assuming that the recipient has a Wells Fargo credit card that earns Wells Fargo Rewards.

However, if you fail to make card payments when they're due, your rewards account will effectively become suspended. This means you can’t redeem or transfer points, and any points you earn will be “held” until you get current. You’ll lose unredeemed rewards if you close your account.

Also keep in mind: Some Wells Fargo credit cards set no limit on the number of points you can earn, and those points don't expire. But this is not the case for every Wells Fargo credit card, so check your card's terms and conditions.