Best Wells Fargo Business Credit Cards of 2021

Kelsey SheehyJun 30, 2021

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Wells Fargo has a slim selection of business credit cards with just three options: Wells Fargo Business Platinum Credit Card, Wells Fargo Business Elite Signature Card and Wells Fargo Business Secured Credit Card.

But that lack of choice is overshadowed by flexibility and convenience — particularly for existing Wells Fargo business banking customers.

Cardholders can choose between cash back or rewards points when they sign up for a card. And business owners who opt for cash back automatically receive quarterly disbursements — as statement credits or deposited into a Wells Fargo business checking account.

Below we outline the best Wells Fargo business credit card for different types of small-business owners, as well as some alternatives to consider.

Our pick for: Growing businesses

Wells Fargo Business Platinum Credit Card
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The Wells Fargo Business Platinum Credit Card has a 0% intro APR on Purchases for 9 months, and then the ongoing APR of 11.24% - 21.24% Variable APR. Cardholders can choose their reward type — cash back or points — during signup. Cash Back option: Earn 1.5% cash back on every $1 spent. Reward Points option: Earn 1 point on every $1 spent and receive 1,000 bonus points when your company spend is $1,000 or more in any monthly billing period. Earn a one-time $300 cash back bonus or 30,000 bonus points when you select a Business Card Rewards Program and spend $3,000 in the first three months of account open date.

Our pick for: Large, high-revenue businesses

The Wells Fargo Business Elite Signature Card is geared toward large businesses with substantial purchasing power. Business owners can get up to 200 free employee cards and can assign spending controls to each card, limiting transactions by type, time or amount. Cardholders can select the rewards type that best fits their business needs: cash back or points. Earn 1.5% cash back on every $1 spent or earn 1 point on every $1 spent and receive 5,000 bonus points when your company spend is $10,000 or more in any monthly billing period. The welcome offer for new customers: Earn 1.5% cash back on every $1 spent or earn 1 point on every $1 spent and receive 5,000 bonus points when your company spend is $10,000 or more in any monthly billing period. The annual fee is $0 intro first year, then $125.

Our pick for: Bad credit

Business owners with bad personal credit (FICO score below 630) can build business credit and earn rewards (cash back or points) with the Wells Fargo Business Secured Credit Card. Cash Back option: Earn 1.5% cash back on every $1 spent. Reward Points option: Earn 1 point on every $1 spent and receive 1,000 bonus points when your company spend is $1,000 or more in any monthly billing period. To apply, you first need to open a Wells Fargo business checking or savings account. Credit limits range from $500 to $25,000 and are equal to the security deposit you provide.

Wells Fargo business credit card benefits

In addition to the perks associated with each individual card, here are the benefits you’ll receive with all Wells Fargo small-business credit cards:

  • Free employee cards with customizable spending limits.

  • Overdraft protection when you link your Wells Fargo business card to your Wells Fargo business checking account.

  • No foreign transaction fees.

  • Fraud alerts and $0 fraud liability.

  • Online business spending reports.

(Benefits may change over time.)

The information related to the Wells Fargo Business Platinum Credit Card, Wells Fargo Business Elite Signature Card and Wells Fargo Business Secured Credit Card has been collected by NerdWallet and has not been reviewed or provided by the issuer or provider of this product or service.

Alternatives to Wells Fargo business credit cards

Wells Fargo’s business credit cards, with their straightforward rewards and automatic cash back redemption, are a low-maintenance option for existing Wells Fargo business customers. But those banking on bigger rewards might be drawn to the following alternatives.

Capital One® Spark® Classic for Business

Our pick for: Business owners with fair credit

The Capital One® Spark® Classic for Business is a great alternative to the Wells Fargo Business Secured Credit Card for business owners with fair credit (typically a FICO score between 630 and 689). While the Spark Classic earns only 1% cash back, compared with 1.5% on the Wells Fargo secured card, it does not require a security deposit. Read our review.

Ink Business Cash® Credit Card

Our pick for: Up to 5% cash back in bonus categories

Straightforward rewards like those from Wells Fargo are nice. But if you want supercharged rewards on things like office supplies and internet service, consider the Ink Business Cash® Credit Card. You’ll earn 1%-5% cash back with no annual fee. Plus, you’ll get 0% intro APR on Purchases for 12 months, and then the ongoing APR of 13.24% - 19.24% Variable APR. Read our review. 

The Business Platinum Card® from American Express

Our pick for: Premium travel rewards

Wells Fargo cardholders get the same reward rate — 1.5% or 1x points — no matter what they spend money on. Travel-heavy businesses can earn rewards faster with The Business Platinum Card® from American Express. The annual fee is high — $595 (10/14-1/12/22) compared with $0 intro first year, then $125 for the Wells Fargo Business Elite Signature Card — but you get 5x points on flights and prepaid hotels booked through amextravel.com, 1.5x points per dollar on large purchases ($5,000 or more) and 1 point per dollar on all other purchases. Read our review.

To view rates and fees of The Business Platinum Card® from American Express, see this page.