Wells Fargo "Signify" Business cards

[LADave]

Apologies if this has been brought up elsewhere. I didn't find a thread about this in either the "Credit in the News" or "Credit Cards" forums.

Wells Fargo appears to be preparing a launch of possibly three new business credit cards under a new "Signify" line, especially now that there's a Priority Pass page  for "Wells Fargo Signify" customers.

Last year, Wells Fargo filed three Signify-related trademarks:

• Signify Business Cash
• Signify Business Essential
• Signify Business Elite

Here's the Doctor of Credit article with the essential details.

My guesses based entirely upon the names of these cards, and the presence of the Priority Pass page, is that there will ultimately be at least two cards, one of which will have Priority Pass. "Elite" would be a logical name for a card that has no-added-fee Priority Pass.

If they're following a Chase model, then perhaps "Essential" would have points and enhanced redemptions for points, with "Elite" having better point redemptions to transfer partners. (Wells Fargo has already confirmed they'll be starting points transfer in November.) "Cash" would be a logical choice for basic cash rewards, with the rewards possibly convertible into points (Active Cash rewards can be transferred into Wells Fargo Points with an Autograph card).

DoC gives no date for a launch, and assuming Wells Fargo follows through, it could still be a while before it actually happens. The launch of Active Cash was in July 2021 and Autograph was in July 2022 - although their co-branded Bilt card was released in March of 2022.

[LADave]

More confirmation that at least one new business card is coming, this time from the Wells Fargo business credit card page at https://www.wellsfargo.com/biz/help/faqs/credit-cards/

How do I apply for a business credit card?

We are gearing up for some exciting new Small Business Credit Card offerings and we look forward to sharing more in the coming months. [emphasis mine.] We are not currently accepting new business credit card applications.

[LADave]

With the new date  for WF transfer partners moved from Nov. 15 to Dec. 10 (according to a week-old post on Reddit in r/CreditCards), my guess is that new business and/or personal rewards credit cards might be coming within a month of that date - so between now and January 10 or so.

I've also been wrong in my Wells Fargo predictions before.

Edit: DoC has confirmed the new Dec. 10 date for WF adding transfer partners: https://www.doctorofcredit.com/wells-fargo-autograph-getting-transfer-partners/

[LADave]

I've just noticed a Reddit post noting new details for Autograph Journey and a new unmanned small business card, from someone who claims to have a source at the bank. Without further confirmation, this should perhaps be taken for entertainment purposes only.

The small business card will reportedly be launched in February and have 2% cash back - identical to Active Cash, but with Mastercard Elite benefits (they probably meant Mastercard World Elite).

WF had more than one "Signify" trademark registration for business cards, so it's possible they may release more than one card, although not necessarily at the same time or even within the same year.

It will also be interesting to see what the SUB and benefits will be, and if the rewards can be converted to Wells Fargo Points for users with an Autograph or Autograph Journey card.

[LADave]

A Google search for Wells Fargo Signify turned up 3 pages today in search results, although they showed generic info when I clicked on them. It will be interesting to see if these show useful info later:

Signify Rewards: https://www.wellsfargo.com/biz/signify-rewards/

And a business documents page (https://www.wellsfargo.com/biz/business-credit/credit-cards/documents/) has some other interesting content that I've copied here:

Signify Business Cash Credit Card

• Card Account Agreement
• Mastercard® World Elite Guide to Benefits
• Rewards Terms & Conditions

Wells Fargo is not accepting new applications for the following credit cards at this time:

Signify Business Essential Credit Card

• Card Account Agreement
• Mastercard® World Elite Guide to Benefits
• Rewards Terms & Conditions

[LADave]

In reviewing the terms and conditions for Signify Cash, a poster on Reddit gleaned the following details about the card:

-No annual fee

-2% cash back on everything

-3% foreign transfer fee

-$500 SUB after spending $5K in 3 months (might be equivalent to 50K Wells Fargo Points if transfer partners are finally in place)

-0% APR

-Mastercard

The post also gives a launch date of February 27, which is 3 days from now. Considering the lack of promotion so far, my guess is that's more likely to be the day they're going to "officially" announce the card (even though they've been leaking information about it for weeks) before they start accepting applications. But perhaps they'll do a soft launch with their own customers before they advertise it widely, since they've been out of the business credit card market for a long time.

And would you take a look at what Priority Pass has posted on their website (https://www.prioritypass.com/wellsfargosignify):

From this, we can gather 2 things:

-Three Signify cards are still in the works.

-The Priority Pass membership isn't that generous (no free lounge access).

My take: I need a biz card, Wells Fargo has been good to me with personal cards, and the terms for Signify Cash look good. I'd prefer to see if there are any special quirks with the card (like it reporting to personal credit reports a la Capital One) before I apply.

[LADave]

Update: A Redditor pointed out that the terms and conditions originally gave a date of February 27, and it has since been updated to February 14. The incorrect date in the terms and conditions may have given the OP a mistaken impression that the Signify Cash was going to be released on that date.

Wells Fargo is transferring their existing/legacy business card customers to Signify cards that aren't available to new applicants yet, and that apparently requires new/updated T&Cs. An example web page about the card conversions is here: https://sites.wf.com/bizcard-conversion-marchFAQ/

[LADave]

Update: I was inside a Wells Fargo branch yesterday and asked about the Signify Cash card. After a long conversation between the teller and one of the bankers, I was told that business cards will be available in late May (so about a month from now). I didn't think to clarify which business cards will be offered, or if they knew.

[LADave]

I somehow missed this earlier, but Signify Cash is now available: https://creditcards.wellsfargo.com/business-credit-cards/signify-business-cash-credit-card/

 These bullet points are valid:

-No annual fee

-2% cash back on everything

-3% foreign transfer fee

-$500 SUB after spending $5K in 3 months (apparently convertible to 50K Wells Fargo Points)

-0% APR

-Mastercard

I made an application earlier today that's under review. In the last two weeks I was approved for a Citi Costco Business Visa and a U.S. Bank Cash+ card that hasn't reported yet, and a BofA Customized Cash card that's under review. I'm planning to go back to the garden after my WF and BofA applications go out of review.

[cashorcharge]

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@LADave wrote:

I somehow missed this earlier, but Signify Cash is now available: https://creditcards.wellsfargo.com/business-credit-cards/signify-business-cash-credit-card/

 These bullet points are valid:

-No annual fee

-2% cash back on everything

-3% foreign transfer fee

-$500 SUB after spending $5K in 3 months (apparently convertible to 50K Wells Fargo Points)

-0% APR

-Mastercard

I made an application earlier today that's under review. In the last two weeks I was approved for a Citi Costco Business Visa and a U.S. Bank Cash+ card that hasn't reported yet, and a BofA Customized Cash card that's under review. I'm planning to go back to the garden after my WF and BofA applications go out of review.

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Good luck!  I posted about the launch in the Business Credit Forum