Guide to Wells Fargo Rewards

Written by
Geoffrey Williams
Terms apply; see the online credit card application for full terms and conditions of offers and rewards

The Wells Fargo Rewards program, which used to be known as "Go Far Rewards," is something of an under-the-radar credit card rewards program. It may not have as much buzz as its competitors, but it's worth a look nonetheless.

Currently the Wells Fargo Rewards program isn't offering a slew of new credit cards with rewards, though that can always change. It's also possible that you have an older Wells Fargo card in your wallet that earned Go Far Rewards, but is no longer being issued by the bank. If you have any questions about the rewards program offered by your card, call customer service for clarity – don’t just let those rewards languish.

HOW DO I EARN WELLS FARGO REWARDS?

You can earn Wells Fargo Rewards by spending money with a qualifying Wells Fargo credit card. 

The only card currently available to new applicants that earns traditional Wells Fargo Rewards is the Wells Fargo Active Cash℠ Card (This card is not currently available on CardRatings). This card offers unlimited 2% cash rewards on purchases, with no rotating categories or activations to keep track of. There is also no annual fee. That's an important feature in Wells Fargo's favor as plenty of cash back credit cards do have an annual fee.

HOW DO I REDEEM MY WELLS FARGO REWARDS?

Whether you have a Wells Fargo credit card that offers cash back or points, there are several main ways you can redeem your Wells Fargo rewards. Here's how:

  • You can send your rewards to another Wells Fargo credit card, or you could send it to a checking account or apply rewards towards a Wells Fargo-owned mortgage.
  • You can go to a Wells Fargo ATM and redeem points for cash, in $20 increments. (You must have a Wells Fargo debit or ATM card in order to redeem rewards at a Wells Fargo ATM.)
  • You could redeem your rewards for purchases, in the form of a statement credit, to cover eligible purchases you've already made on your credit card.
  • You can use the rewards when you are online shopping, at checkout with participating merchants. You can also redeem your rewards at online stores through PayPal.
  • You can redeem rewards for a plethora of gift card options. You have to get enough points or cash back in $25 increments, but that shouldn't be a big deal. It isn't as if retailers tend to offer $17 gift cards.
  • You can redeem your rewards toward airline tickets.
  • You can also redeem your rewards on other travel purchases such as car rentals and hotel stays.

HOW DO I TRACK MY WELLS FARGO REWARDS?

Simply sign in at WellsFargo.com/redeem. There, you can track how your rewards are piling up, after each time you use your Wells Fargo rewards credit card. You'll also be able to see any bonuses that you're earning.

CAN I SHARE MY WELLS FARGO REWARDS?

Yes, you can share your Wells Fargo rewards with anybody you want, provided that they are also a Wells Fargo accountholder. You can share rewards - or redeem them as an account credit in $25 increments. So if, for instance, you want to send your college student child $25 in rewards to their Wells Fargo checking account or Wells Fargo credit card, you could do that.

You can also share points with yourself. That is, if you have more than one Wells Fargo rewards credit card, you can combine the rewards so that they're on one card.

Or if there's a cause you believe in, you might want to redeem rewards for gift cards to donate to a nonprofit or nonprofits that you want to give something to. In other words, you can take your rewards and reward somebody else, or an organization.

And if you want to donate your rewards directly to disaster relief, you can donate any of your rewards directly to the American Red Cross, who will use those digital funds to help provide shelter, food, and health and mental health services during emergencies.

CAN I POOL MY WELLS FARGO REWARDS?

Usually when people discuss pooling credit card rewards, they're talking about putting all the rewards they earn across several cards in the program under a single card in order to, in some cases, increase the point value. As discussed above, if you have multiple Wells Fargo Rewards-earning cards, you could combine your points under one card, but that’s not exactly what Wells Fargo means when talking about "pooling."

Wells Fargo allows people with Wells Fargo Rewards accounts to create a group and combine their rewards in a single bucket, which enables cardholders to pool rewards across multiple cardholders and accounts, a feature that's usually restricted to cardholders within the same household or family for other card issuers. With Wells Fargo Rewards, for example, spending for family members spread out around the country can be pooled toward a family vacation or a grand family reunion. The pooled rewards don't need to be just in the family, either, which is a unique concept. There are no restrictions on the rewards points that can be pooled. So families wanting to support a Little League team, the local PTA or some other organization could all pool their rewards to benefit the organization. Or a group could pool rewards for another person outside of the family. The cardholders are free to choose what pooling arrangement that they want to make.

HOW DOES WELLS FARGO REWARDS COMPARE TO OTHER REWARDS PROGRAMS?

The Wells Fargo Rewards program offers a lot of options for what you can do with your rewards, but it’s somewhat limiting when it comes to earning those rewards. Currently, there’s only one card in the program available to new cardholders that earns traditional Wells Fargo Rewards.

Most other credit card rewards programs offer numerous credit cards which cardholders can earn program rewards with. Chase, for example, offers seven Chase Ultimate Rewards®-earning cards. All of these cards are unique in how they earn rewards, so it often makes sense to carry multiple Chase Ultimate Rewards-earning cards. By doing this, cardholders are able to truly maximize the amount of rewards earned. A Chase Sapphire Preferred® Card cardholder might use their card to earn 2X points on travel purchases, and then their Chase Freedom Unlimited® card to earn unlimited 1.5X points on all purchases that don’t earn bonus rewards with the Sapphire card, for instance. Then they could pool their rewards under their Sapphire Preferred® account where points are worth 25% more when redeemed for travel.

Other programs are like this, too. Capital One, as another example, offers five cards which earn Capital One Miles. Say you have the Capital One Venture Rewards Credit Card which you use for your personal expenses, and the Capital One Spark Miles for Business which you use for business expenses; you could pool rewards earned with each card and stretch your redemption dollar. For example, if you have 70,000 miles in your Venture account and want to “erase” a recent $1,200 travel purchase, you wouldn’t have enough miles to do so. However, if you have 50,000 miles sitting in your Spark Miles account, you could pool those with your 70,000 Venture miles and voilà, now you have enough to cover that expense.

Now, this isn’t to say you can’t do something similar with the Wells Fargo Rewards program. As mentioned above, you can combine rewards between various Wells Fargo Rewards accounts, or you could even pool them with family and friends; however, as things currently stand, there’s only one rewards-earning card available to new applicants, so unless you already have other Wells Fargo Rewards-earning cards, your options for earning rewards are somewhat limited.

One other main difference between the Wells Fargo Rewards program and other credit card rewards programs is the inability to transfer rewards to travel partners. Both the Capital One Miles and Chase Ultimate Rewards® programs offer a long list of travel partners in which cardholders can transfer rewards to, potentially furthering the value of the rewards. American Express Membership Rewards® is another program which allows you to transfer points to an eligible airline or hotel partner. Citi ThankYou® Points can also be transferred to travel partners.

IS WELLS FARGO REWARDS A GOOD PROGRAM?

The Wells Fargo Rewards program is perhaps among the most flexible programs when it comes to the sheer number of ways cardholders can redeem their points including for travel, merchandise, charitable donations, credits against Wells Fargo loan products such as mortgages and personal loans, cash via a Wells Fargo ATM or as additions to deposit accounts. Program pros include:

  • Points can be shared or pooled among a group of non-related Wells Fargo cardholders. That means, for instance, a group of college friends could pool points to help pay for a weekend reunion trip or that one cardholder could gift rewards to another cardholder.
  • You can redeem points in traditional ways, like for travel or a deposit into an eligible account, but you can also redeem points for cash directly from a Wells Fargo ATM.
  • None of the cards that earn Wells Fargo Rewards charge annual fees, so you don't have to worry about earning enough rewards to offset a fee.

To be fair, there are some drawbacks as well:

  • Currently, there are no Wells Fargo Rewards travel loyalty partners, which means that you don't have the option to turn your rewards into airline or hotel loyalty points and potentially increase their value.
  • Options are usually a good thing, but the Wells Fargo Rewards program offers so many of them that it can get confusing to understand how best to redeem your rewards.
  • Unless you already have a Wells Fargo Rewards-earning card, the options for earning rewards are limited as Wells Fargo currently only offers one Wells Fargo Rewards-earning card to new applicants.

In short, Wells Fargo's old name for its rewards program "Go Far" may be gone, but if you're a fan of the Wells Fargo Rewards program, not much has changed. You can still go far with your rewards.


Disclaimer:

The information in this article is believed to be accurate as of the date it was written. Please keep in mind that credit card offers change frequently. Therefore, we cannot guarantee the accuracy of the information in this article. Reasonable efforts are made to maintain accurate information. See the online credit card application for full terms and conditions on offers and rewards. Please verify all terms and conditions of any credit card prior to applying.

This content is not provided by any company mentioned in this article. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any such company. CardRatings.com does not review every company or every offer available on the market.

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