Guide to Wells Fargo Go Far® Rewards
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Wells Fargo's Go Far® Rewards program probably isn't the best known credit card rewards program out there, but that doesn't mean it isn't worth giving a second (or even third) look.
In fact, it 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.
With one of several Wells Fargo rewards-based credit cards (more on those below), you can earn Go Far® Rewards on virtually all your purchases, from filling the tank with gas, to stocking up on groceries, or dining at a favorite restaurant.
Take a look at some of the pros of the Go Far® Rewards program:
- 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 Go Far® 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 Go Far® 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 Go Far® Rewards program offers so many of them that it can get confusing to understand how best to redeem your rewards. Don't worry; we're going to help you with that below.
Wells Fargo offers customers several options when it comes to cards that earn Go Far® Rewards, and, impressively, none of them charge an annual fee. Your decision here will likely come down to your spending habits as well as which card (or cards) offers the features you’re most likely to put to good use. Keep in mind, too, that you can combine points from several different cards under a single card and in some cases increase their value. Let's take a look at a few of the top cards that earn the rewards:
- Earn 30,000 bonus points – worth up to $300 in cash redemption value – after you spend $3,000 on purchases in the first three months.
- Earn three points for every $1 spent on eating out and ordering in, ride shares, flights, hotels, homestays (e.g., Airbnb), car rentals and on popular streaming services.
- Earn one point per $1 spent on everything else.
- Introductory 0% APR on purchases and qualifying balance transfers for the first 12 months (then, 15.49%-27.49% Variable)
- No foreign transaction fees and no annual fee.
- Cell phone protection. When you pay your monthly cell phone bill with your eligible Wells Fargo consumer credit card, you can receive up to $600 of protection (subject to $25 deductible) against covered damage or theft.
- Read our full Wells Fargo Propel American Express® card review
- Earn a $150 cash back bonus after spending $500 on your card in the first three months. Note that, while this is called a "cash-back" card, your rewards do accumulate as Go Far® Rewards and can be combined and redeemed the same as rewards earned with other cards that aren't referred to as "cash-back" cards.
- Earn an unlimited 1.5% cash back on every purchase. Again, your cash back accumulates as Go Far® Rewards and can be redeemed for cash back or through the Go Far® program.
- Earn 1.8% cash back on qualified digital wallet purchases, such as those with Apple Pay® and Google Pay™, for the first 12 months of card membership.
- Save with an introductory 0% APR on purchases and qualifying balance transfers (then, 15.49%-27.49% Variable)
- Pay your cell phone bill with your card and enjoy cellular phone insurance against covered damage and theft (terms and deductible apply).
- Read our full Wells Fargo Cash Wise Visa® card review
Wells Fargo Visa Signature® Card
This card is not currently available on CardRatings
- Earn 5x the Go Far® Rewards points on up to $12,500 spent on gas, grocery and drugstore purchases for the first six months of card membership, then one point per $1.
- Your points are with 50% more when you redeem them for airfare; that means that 20,000 points can be redeemed for $300-worth of airfare.
- Cell phone protection is included when you pay your cellular bill with the card.
- Take advantage of a 0% intro APR on purchases and balance transfers for 15 months (then, 14.24% - 27.24%)
There are a couple of other Wells Fargo cards that earn rewards – including the Wells Fargo Cash Back College Visa® Card and the Wells Fargo Rewards® Card. It's also possible that you have an older Wells Fargo card in your wallet that now earns 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.
What is the most valuable way for a cardholder to redeem points? In almost all cases, 1,000 points equals $10, though Wells Fargo Visa Signature® Card account holders can receive more value when redeeming for airfare (more on that in the travel bullet below).
Let’s take a look at an example of what you could do with 30,000 Go Far® points.
- Travel: If you want to use 30,000 points for a flight, hotel, rental car, etc., there are a few different ways the reward could be calculated. If you are using most Wells Fargo rewards cards, the airfare redemption would be equal to $300; however, when paired with a Wells Fargo Visa Signature® Card, 30,000 points is equal to $450 in airfare (or even $525 with Visa Signature if you have over $50k in annual purchases). And, since you can combine points under a single account, this means that any points you earn with other Wells Fargo cards could be combined under the Wells Fargo Visa Signature® Card, so your points can go even further for airfare redemption.
- Cash back: A unique feature of Go Far® Rewards is that Wells Fargo debit or ATM cardholders can redeem their rewards as a withdrawal from a Wells Fargo ATM. You must redeem in $20/2,000-point increments and 30,000 points would be worth $300.
- Redeem for Purchase: This is currently only available to Wells Fargo customers with a credit card that earns points rewards and allows you to redeem points to erase any purchase on your statement. You must have enough points to cover the purchase in entirety, but this is a unique rewards redemption option that essentially means you can use your rewards for, well, anything. Interested in a $5 cup of coffee and have 500 points? You can redeem those points to cover that cup of coffee on your statement. Eyeing a pair of $1,000 diamond earrings? Feel free to treat yourself and redeem 100,000 points to cover the cost. The minimum redemption here is 100 points (equal to $1), so it's an extremely flexible option.
- Merchandise redemption: The simple answer is 30,000 points is worth $300; however, you'll want to look at the cost on the Go Far® portal versus the item's cost on other websites. It might be that the item is actually less expensive elsewhere in which case your better value comes from redeeming your rewards for cash back and then purchasing the item elsewhere.
- Apple purchases: Wells Fargo cardholders can "pay with points" for products in the Apple Store. When you log on to your Go Far® Rewards account, you have the option of clicking a link that will connect you to the Apple Store (you'll see the Wells Fargo logo at the top as well) where you can shop using your points. In this case, 30,000 points are equal to $300.
- Deposits to qualifying account: You can redeem points for a minimum $25 deposit (so you need at least 2,500 points) into a Wells Fargo checking, savings or other qualifying account including mortgages and loans. In this case, 30,000 points are equal to $300 and all your accounts must be held with Wells Fargo. You can't make a deposit/payment directly to another bank account/bank loan, but you can request a check, which you can then deposit to an account held at a different bank.
- Auctions: This online option allows you to bid on items using your points.
Wells Fargo also allows cardholders to share their rewards with another friend or family member who is a Wells Fargo customer or to donate those rewards to a participating organization or cause. Furthermore, Wells Fargo offers a unique opportunity to pool rewards, which brings us to our next topic...
Usually when people discuss pooling credit card rewards, they're talking about putting all the rewards you earn across several cards in the program under a single card in order to, in some cases, increase the point value. That's exactly what we discussed above with the Wells Fargo Visa Signature® Card; if you have that card as well as other Go Far® Rewards-earning cards, you should combine all your points under the Wells Fargo Visa Signature® Card if you want to redeem for airfare so that you get the most value.
But that's not all Wells Fargo means when it talks about "pooling." Wells Fargo allows people with Go Far® Rewards accounts to create a group and combine their rewards in a single bucket.
This 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 Go Far® 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.
You should always read the fine print of your credit card agreements, but this time it's incredibly important. Whether your Go Far® Rewards expire depends on your particular card. Here's the breakdown:
Wells Fargo Propel American Express® card – Rewards do not expire as long as your account remains open.
Wells Fargo Cash Wise Visa® card – Rewards do not expire as long as your account remains open.
Wells Fargo Cash Back College Visa® Card – Rewards do not expire as long as your account remains open.
Wells Fargo Visa Signature® Card – rewards expire at the end of the 60th month (about five years) starting from the first month those points posted to your account.
Wells Fargo Rewards® Card – rewards expire at the end of the 60th month (about five years) starting from the first month those points posted to your account.
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