Wells Fargo Signify Business Cash Card: A simple option for cash-back-focused businesses

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Global Industry News

Wells Fargo Signify Business Cash Card: A simple option for cash-back-focused businesses

Research

Nick Ewen Senior editorial director | The Points Guy

By Sky Industry News

Nov 13, 2024

The Wells Fargo Signify Business Cash Card offers a straightforward option for businesses seeking cash-back rewards without an annual fee. The card provides a flat 2% cash-back rate on all purchases, making it suitable for businesses that prefer simplicity over complex reward structures.

However, the card lacks bonus categories and does not offer enhanced redemption options. This may deter those looking for additional perks or higher earning rates in specific spending areas. A credit score of 670 or higher is recommended for applicants.

The card includes standard benefits such as zero liability protection and account alerts, along with business-oriented features like free employee cards and spending tracking. Notably, it offers travel accident insurance covering up to $250,000 when tickets are purchased with the card. Additionally, the card provides access to Priority Pass lounges but requires payment of individual visit fees.

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New cardholders can earn a $500 cash rewards bonus after spending $5,000 within the first three months. However, some may find this welcome offer less appealing compared to other cards.

For businesses with varied expenses across different categories, the Signify Business Cash Card's simple earning structure could be advantageous. Yet, those whose expenses fall into specific categories might benefit more from cards offering higher rewards in those areas.

Alternatives include the Blue Business® Plus Credit Card from American Express, which earns Membership Rewards points transferable to airline and hotel partners; the Ink Business Unlimited® Credit Card from Chase with greater travel protections; and the Capital One Venture X Business with extensive perks including airport lounge access.

Ultimately, the Wells Fargo Signify Business Cash Card suits business owners who prioritize straightforward cash-back earnings over transferable rewards or premium benefits.