Customers Earn More Cash Rewards With Wells Fargo’s Cash Wise Visa® Card

SAN FRANCISCO--(BUSINESS WIRE)--Wells Fargo & Company (NYSE:WFC) today announced Wells Fargo Cash Wise, a new Visa credit card that offers unlimited 1.5 percent cash rewards on net purchases and includes other features.

“Customers who want the simplicity of ‘cash is king’ will love what Cash Wise gives them – a straightforward way to earn cash rewards for their everyday purchases without tracking bonus categories or earnings caps,” said Beverly Anderson, head of Consumer Financial Services for Wells Fargo. “Any time we can bring an exciting new offer to market or enhance existing offers and experiences to meet more of our customers’ needs, we are proud and pleased to do that.”

Cardholders can redeem their cash rewards at any Wells Fargo ATM with their Wells Fargo Debit or ATM card, direct deposit into their qualifying Wells Fargo checking or savings account or apply toward the principal balance of a qualifying Wells Fargo line or loan. They can also receive their cash rewards as a statement credit or as a check.

“The launch of new Wells Fargo Cash Wise Visa Card represents a significant expansion of the Wells Fargo Visa product suite,” said Oliver Jenkyn, group executive North America, Visa Inc. “It brings cardholders incredible flexibility in how they can earn rewards, redeem them and manage their rewards through a digital solution.”

Wells Fargo also introduced Cash Track, a new feature available exclusively to Cash Wise cardholders through Online Banking. Cash Track allows customers to:

• View their cash rewards
• Set a cash rewards goal
• Track their progress
• View lifetime cash rewards earnings
• Redeem their cash rewards in just a few clicks

The card was introduced for the nearly 60 percent of consumers¹ who charge almost everything they buy in order to earn rewards and the 36 percent¹ who say cash rewards are their favorite.

Over the past several years, Wells Fargo has worked to evolve its credit card business with its customers as their needs change over time. As a result, the company has:

• Announced Go Far ^TM Rewards, an enhanced credit card rewards platform
• Begun offering free, ongoing access to FICO^® Credit Scores through Wells Fargo Mobile Banking to eligible consumer credit customers including factors that affect it, personalized Wells Fargo credit tips and an interactive history chart of their past FICO^® Scores
• Expanded its issuing relationships to include both Visa and American Express
• Supported emerging payment options like Wells Fargo Wallet, Apple Pay^® , Android^TM Pay and Samsung Pay

“Consumers continue to lead ‘on the go’ lives and expect more from their credit cards and the rewards they earn for everyday purchases,” Anderson added. “Wells Fargo will continue to support them in making responsible credit decisions, choosing the credit cards that fit their lives and helping them get more out of the rewards they earn.”

About Wells Fargo

Wells Fargo & Company (NYSE:WFC) is a diversified, community-based financial services company with $1.8 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through 8,800 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 36 countries to support customers who conduct business in the global economy. With approximately 269,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 27 on Fortune’s 2016 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Wells Fargo perspectives are also available at Wells Fargo Blogs and Wells Fargo Stories.

¹ According to the 2015 How America Buys and Borrows survey commissioned by Wells Fargo