topic Re: Wells Fargo Signify Business Cash Card now live! in Business Credit

Wells Fargo Signify Business Cash Card now live!

cashorcharge — Fri, 26 Apr 2024 15:57:53 GMT

It's been in the works for a while now and info has been limited. Today, WF launched the public release of this card.

Typically though for Business, WF will pull your personal EX CB whether you're a SP or LLC.

$500 SUB with $5000 spend in the first 90 days

Who's going to be first to test the waters?

https://creditcards.wellsfargo.com/business-credit-cards/signify-business-cash-credit-card/?RCTTST=RCTCTL1&sub_channel=REF&vendor_code=LH

Re: Wells Fargo Signify Business Cash Card now live!

JoeRockhead — Fri, 26 Apr 2024 17:10:05 GMT

Sounds pretty good with unlimited 2% CB. Nice SUB too... you go first

Re: Wells Fargo Signify Business Cash Card now live!

SouthJamaica — Fri, 26 Apr 2024 21:43:44 GMT

@cashorcharge wrote:
It's been in the works for a while now and info has been limited. Today, WF launched the public release of this card.
Typically though for Business, WF will pull your personal EX CB whether you're a SP or LLC.

$500 SUB with $5000 spend in the first 90 days

Who's going to be first to test the waters?

https://creditcards.wellsfargo.com/business-credit-cards/signify-business-cash-credit-card/?RCTTST=RCTCTL1&sub_channel=REF&vendor_code=LH

I would have applied, but for the fact that in order to apply online, one has to have a deposit account at Wells Fargo.

Re: Wells Fargo Signify Business Cash Card now live!

keekers — Fri, 26 Apr 2024 22:14:27 GMT

@SouthJamaica wrote:
I would have applied, but for the fact that in order to apply online, one has to have a deposit account at Wells Fargo.

Womp womp.

Re: Wells Fargo Signify Business Cash Card now live!

JoeRockhead — Fri, 26 Apr 2024 22:15:00 GMT

@SouthJamaica wrote:
@cashorcharge wrote:
It's been in the works for a while now and info has been limited. Today, WF launched the public release of this card.
Typically though for Business, WF will pull your personal EX CB whether you're a SP or LLC.

$500 SUB with $5000 spend in the first 90 days

Who's going to be first to test the waters?

https://creditcards.wellsfargo.com/business-credit-cards/signify-business-cash-credit-card/?RCTTST=RCTCTL1&sub_channel=REF&vendor_code=LH

I would have applied, but for the fact that in order to apply online, one has to have a deposit account at Wells Fargo.

Boo... not cool Wells Fargo, not cool at all

Re: Wells Fargo Signify Business Cash Card now live!

xenon3030 — Sat, 27 Apr 2024 10:22:35 GMT

WF is weird bank. Sometime ago, I opened a personal checking account and for each check deposit, they place a very long hold of 2 weeks. I talked to the manager level and they said that it is the bank internal policy to do it for any new checking account in its first year. After completion of the SUB, I decided to close the checking account to do banking elsewhere.

I am concerned about such non-public illogical internal rules that might impact businesss transactions.

Re: Wells Fargo Signify Business Cash Card now live!

JoeRockhead — Sat, 27 Apr 2024 12:40:56 GMT

@xenon3030 wrote:
WF is weird bank. Sometime ago, I opened a personal checking account and for each check deposit, they place a very long hold of 2 weeks. I talked to the manager level and they said that it is the bank internal policy to do it for any new checking account in its first year. After completion of the SUB, I decided to close the checking account to do banking elsewhere.

I am concerned about such non-public illogical internal rules that might impact businesss transactions.

I realize a lot of people like WF and have no issues with them. However, a two week hold on deposits, in addition to what equates to a year on probation is a bit absurd. For me, it only further drives my opinion of WF as a whole into the basement. Appreciate the nuggets of information.

Re: Wells Fargo Signify Business Cash Card now live!

Kindersafe — Sun, 28 Apr 2024 03:20:40 GMT

So I took the plunge since I have been waiting on this card. I do all my personal and business banking at WF so it is a good fit. I got the "Your Application is under Review Message" so we shall see!

Re: Wells Fargo Signify Business Cash Card now live!

Djenius — Sun, 28 Apr 2024 04:13:13 GMT

@Kindersafe Please share your outcome. I'm very much interested in this card. I'm thinking about opening an Initiate Business checking with WF as a backup to my primary Chase biz Checking. Navy Federal currently fills tht role for me but the lack of branches is a big con. WF has a ton near me. This card immediately competes with the two Blue Amex biz cards.

Re: Wells Fargo Signify Business Cash Card now live!

AzCreditGuy — Wed, 01 May 2024 18:31:53 GMT

My Business card Visa got converted over to the Signify Buss Essentials Mastercard. Just FYI Wells also points hold on large sum accounts on both personal and buss, even after the year mark. Didnt bother me as I had the cash to cover any costs, but not good for someone who may need it

Re: Wells Fargo Signify Business Cash Card now live!

northway — Thu, 02 May 2024 16:55:55 GMT

My previous Business Secured card got converted to an unsecured card last year, but has not changed product at all and just still shows up as "Business Credit Card" with the 1.5% rewards and 0% FTF.

Applied for the Signify Cash and was approved for 30K after a few days of being "conditionally approved". They pulled EX about 15 min after applying.

Also approved for a 10K BLOC after a separate EQ pull. They tried to pull EX, but couldn't view the file due to an "error". But they could view it for the credit card? Weird. Applied at the same time.

Re: Wells Fargo Signify Business Cash Card now live!

Kindersafe — Thu, 02 May 2024 21:47:04 GMT

UPDATE: So, I have not heard anything back about their review and they have not reached out, HOWEVER, I signed into my account today and there it is! Shows Credit Limit of $15,000 so guess it was approved and I would assume I will receive shortly!

Re: Wells Fargo Signify Business Cash Card now live!

SouthJamaica — Fri, 03 May 2024 21:41:50 GMT

@Kindersafe wrote:
UPDATE: So, I have not heard anything back about their review and they have not reached out, HOWEVER, I signed into my account today and there it is! Shows Credit Limit of $15,000 so guess it was approved and I would assume I will receive shortly!

Congratulations on the approval, and thanks for the update.

Re: Wells Fargo Signify Business Cash Card now live!

Djenius — Sat, 04 May 2024 11:15:35 GMT

@Kindersafe Good to know. Thanks for updating us and Congrats!

Re: Wells Fargo Signify Business Cash Card now live!

cashorcharge — Sun, 05 May 2024 16:33:00 GMT

@Kindersafe wrote:
UPDATE: So, I have not heard anything back about their review and they have not reached out, HOWEVER, I signed into my account today and there it is! Shows Credit Limit of $15,000 so guess it was approved and I would assume I will receive shortly!

Appreciate the update @Kindersafe !

That’s Terrific!! Congratulations on your Approval!!👏🏼🍾🥂

Re: Wells Fargo Signify Business Cash Card now live!

LADave — Tue, 07 May 2024 00:57:59 GMT

Back in October I started a thread about three Signify cards:

https://ficoforums.myfico.com/t5/Credit-in-the-News/Wells-Fargo-quot-Signify-quot-Business-cards/m-p/6717863

If it's true that WF plans to release two other Signify cards, it's not surprising to me that they'd want to launch them one at a time. I haven't seen any advertising for Signify Cash yet, but they've barely started launching Autograph Journey, and I doubt they'd want to do an advertising push for more than one card at a time.

I applied yesterday and got the "under review" message. I called this morning and found out I was conditionally approved for $5,000, but they need to do a manual review first, and that should take 1-3 days. I've found myself checking my WF online account every few hours to see if there are any changes. 😂

This looks like a very nice card - particularly the parts about 2% cash back with no AF, and with a 12-month 0% APR period. I'm pretty indifferent to the pay-as-you-go Priority Pass, which I've already got through PenFed Pathfinder. WF is my main bank for personal checking, and if I get the Signify Cash then I'll have more cards with them than any other bank (I've also got Active Cash and Autograph). But I really doubt I'll be doing business banking with them outside of credit cards.

Re: Wells Fargo Signify Business Cash Card now live!

Aim_High — Wed, 08 May 2024 01:28:07 GMT

That's an awesome SUB!

Essentially 12% cash back on $5,000 spend!

I'm sweetening my WF relationship prior to applying later this year for another personal card, so I imagine I should hold off for a bit.

Or should I .... lol

Re: Wells Fargo Signify Business Cash Card now live!

LADave — Wed, 08 May 2024 03:25:46 GMT

@Aim_High wrote:
That's an awesome SUB!
Essentially 12% cash back on $5,000 spend!
I'm sweetening my WF relationship prior to applying later this year for another personal card, so I imagine I should hold off for a bit.
Or should I .... lol

You're right - I forgot to mention the $200 SUB as one of the things that attracted me. The spend requirement for that SUB is pretty high at $5K, but I don't think that's out of line for business cards. And 2% cash back is very rare for a no-AF business card (there aren't any others that come to mind).

I'm assuming for now that this reports to business credit instead of consumer bureaus (I believe that's how WF's biz cards have always reported).

Re: Wells Fargo Signify Business Cash Card now live!

Aim_High — Wed, 08 May 2024 03:50:56 GMT

@LADave wrote:
@Aim_High wrote:
That's an awesome SUB!
Essentially 12% cash back on $5,000 spend!
I'm sweetening my WF relationship prior to applying later this year for another personal card, so I imagine I should hold off for a bit.
Or should I .... lol
You're right - I forgot to mention the $200 SUB as one of the things that attracted me. The spend requirement for that SUB is pretty high at $5K, but I don't think that's out of line for business cards. And 2% cash back is very rare for a no-AF business card (there aren't any others that come to mind).

I'm assuming for now that this reports to business credit instead of consumer bureaus (I believe that's how WF's biz cards have always reported).

The SUB offer right now is $500 (not just $200) for $5K spend so that is essentially 10% back plus the normal 2%!! 😁

For other 2%+ no-AF business cards, two come to mind immediately.

AMEX Blue Business Cash (2% up to $50K annual spend)
AMEX Blue Business Plus (2xMR per dollar up to $50K spend can even be worth more than 2%)

Capital One Spark has a 2% card version with $150 AF but it is refunded with $150K annual spend.

FNBO has an Evergreen Visa - Business Edition that earns 2% with no AF.

Huntington Voice Business card earns 4% back in one category (capped at $7K per quarter or $28K annually) with no AF. Great for a business with heavy focused spend.

I may be missing others but there are a few.

Re: Wells Fargo Signify Business Cash Card now live!

LADave — Wed, 08 May 2024 04:54:02 GMT

@Aim_High You're right about that SUB, my memory and my math were way off 😂