02-14-2009 10:11 AM
I guess you don't really apply for them if you are not a WF customer, anyway. And then they are only worth it if you get into the customer tier where you get the rewards for free. And even then, it's just more or less 1% flat (1.25% if you spend a lot).
There are usually better alternatives than a low rewards, high interest card like their product. I just have it because it was my first card. It's my highest limit, though.
02-14-2009 01:10 PM
I don't know if they'll bring it back in a couple years or not, but their prime card was pretty amazing (interest = prime rate at the time). I agree that their default rewards program is pretty lackluster and you'll probably only get the equivalent of 1% cashback/rewards. Does anyone know what their visa signature rewards are like? Are they the same, only with "signature" extras?
As with most every banking option Wells Fargo offers, it seems they're really only a good fit for large ticket financing, business loans, and big personal/retirement accounts. The fee's and interest rates offered to anything below a certain threshold are often pretty terrible. That being said, I do use them anyway because of some features they offer, and because they're very prominent where I live for convenience sake.
02-14-2009 03:19 PM
I agree that their default rewards program is pretty lackluster and you'll probably only get the equivalent of 1% cashback/rewards. Does anyone know what their visa signature rewards are like? Are they the same, only with "signature" extras?
With their signature card, you don't have to pay an annual fee for participating in their rewards program, unlike with a platinum card.
But you are right, their specialty are the completely free brokerage accounts that you get if have a certain amount of money with them. The credit cards are only an afterthought, because they like you to have everything with them.