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Wells Fargo Cash Wise only redeems in exactly $25 increments?

kremonis
Contributor

Wells Fargo Cash Wise only redeems in exactly $25 increments?

This credit card seems to only allow cash back redemption in exactly $25 increments. For example, if accumulate $25.01 in cash back for the month; then the $25.00 will auto redeem back into your Wells Fargo account. The remaining $.01 will cannot be redeemed until your accumulate another $24.99 in  cash back.

 

Question to Myfico members that have this credit card; has this always been the case? I don't use this credit card often. In fact, after I got the SUB I went two years without an transaction. But I seem to recall having to manually redeem cash back rewards. I maybe misremembering.

 

Is there a setting to turn off auto redemption or redeem all cash back earned above the minimum redemption?

 

Also, to get a CLI from Wells Fargo, you must call them? It is a SP right? Do I need to unfreeze for a SP?

Message 1 of 7
6 REPLIES 6
M_Smart007
Epic Contributor

Re: Wells Fargo Cash Wise only redeems in exactly $25 increments?


@kremonis wrote:

This credit card seems to only allow cash back redemption in exactly $25 increments. For example, if accumulate $25.01 in cash back for the month; then the $25.00 will auto redeem back into your Wells Fargo account. The remaining $.01 will cannot be redeemed until your accumulate another $24.99 in  cash back.

You can use$3, $10 , $15 or whatever to buy Gift cards from WF and pay the difference with payment card.

(click image to enlarge)(click image to enlarge)(click image to enlarge)(click image to enlarge)

 

Question to Myfico members that have this credit card; has this always been the case? I don't use this credit card often. In fact, after I got the SUB I went two years without an transaction. But I seem to recall having to manually redeem cash back rewards. I maybe misremembering.

 

Is there a setting to turn off auto redemption or redeem all cash back earned above the minimum redemption?

YES!  (click image to enlarge)(click image to enlarge)(click image to enlarge)(click image to enlarge)

 

Also, to get a CLI from Wells Fargo, you must call them? It is a SP right? Do I need to unfreeze for a SP?

 

Not sure about the unfreeze part, I would recommend doing so.

You call WF and ask If you have a SP CLI available? The CSR will take some info,

and then advise if you can have a "SP" CLI" if it is not available, they will then ask your consent to do a "HP"

At that time, you can choose to deny without a HP or take the HP and see.

 

Hope this helps? ...Good Luck!


 

Message 2 of 7
kremonis
Contributor

Re: Wells Fargo Cash Wise only redeems in exactly $25 increments?

@M_Smart007 

Thanks!

Message 3 of 7
M_Smart007
Epic Contributor

Re: Wells Fargo Cash Wise only redeems in exactly $25 increments?


@kremonis wrote:

@M_Smart007 

Thanks!


@kremonis, You are welcomeSmiley Happy

Message 4 of 7
Kforce
Valued Contributor

Re: Wells Fargo Cash Wise only redeems in exactly $25 increments?

All of my reward cards have a minimum of $25 or $50 for cashback. 

Most of my cards also have redemption chunks.

Only two of my cards let me take the $27.43 after hitting the $25.

Some will let you buy gift cards starting at $10 or $15 dollars (About 33% of mine)

 

It all depends on issuer and card

Most cards have a fixed threshold before redemption, and not uncommon for cashback chunks

FNBO Cashback Visa (20k) / Bank-West Cashback MC (20k) / USAlliance 3% Visa (20k)
Two Old CU cards (20k each) -- (Sock Drawer) / Secret 3% MC (20k)
Ficos : 830 / AAoA : 9 yrs / AoOA : 24 Yrs / AoYA : 0
Message 5 of 7
UncleB
Moderator

Re: Wells Fargo Cash Wise only redeems in exactly $25 increments?

There are a couple of additional options to bypass the $25 increment requirement...

 

If you have a WF deposit account, you can have your credit card linked to your debit card which will allow you to withdraw rewards in $20 increments at WF ATMs.  Not really that much different, but might be helpful to some.

 

More useful than that is the 'redeem for purchases' option, which is what WF calls their purchase eraser feature.

 

It's in an odd place (on the card account, not the Go Far rewards account where redemptions are usually done) but I've found the feature to work well.

 

WFRedemption.png

Message 6 of 7
M_Smart007
Epic Contributor

Re: Wells Fargo Cash Wise only redeems in exactly $25 increments?

@UncleB, I learned something new today!

ATM's are not popular with me, used (1) time in 20 yearsSmiley Very Happy

 

Thanks for posting. Probably can help someone elseSmiley Happy

Message 7 of 7
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