New Wells Fargo Signify Business Cards Coming Soon

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Last updated on February 28th, 2024

There may soon be three new business credit cards from Wells Fargo. The bank will launch new business products under the “Signify” brand and utilize the Mastercard payment network. Here’s everything that’s currently known about Wells Fargo’s new Signify credit cards:

Details About the Wells Fargo Signify Business Cards

It appears that Wells Fargo is set to launch three new small business credit cards. Several landing pages indicate that the new cards are imminent and will feature a range of competitive perks, including unlimited rewards, free employee cards, spending controls, and Priority Pass Select membership.

The new business credit cards will allegedly be issued under the “Signify” name:

  • Signify Business Cash Mastercard®
  • Signify Business Essential Mastercard®
  • Signify Business Elite Mastercard®

Few other details are available, minus trademarks filed late last year and a designated Priority Pass landing page, which indicates the cards will offer a basic Priority Pass Select membership – likely to include either a handful of free visits or a discounted rate for lounge entry. The cards will likely include no-annual-fee and premium options, in addition to the typical perks that companies can expect from Wells Fargo:

Feature Explanation
Complimentary employee cards Wells Fargo provides free additional employee cards on all their business credit cards. These employee cards also include customizable spending controls and limits.
No foreign transaction fees Wells Fargo also waives foreign transaction fees with its cards – another great feature. Many credit cards charge a fee of around 3% of the transaction cost in U.S. dollars – an added expense that can quickly eat in to employee spending limits abroad.
Fraud protection Cardholders enjoy $0 Fraud Liability against fraudulent charges and fraud alerts thanks to Business for Mastercard protections.
Account management Business account managers can breathe easy thanks to personalized spending reports in the Business Credit Card Center of their online dashboard. These reports allow you to analyze spending by category, merchant, and more.

Signify Business Cash Details

While few details have emerged regarding the Signify business credit cards, some have. The new card will earn 2% cash back on all purchases, offer 12 months of 0% intro APR on purchases, and will come with a $500 cash back welcome bonus. That $500 cash bonus will require $5,000 in spending in the first three months.

Wells Fargo Hoping to Gain a Market Foothold

Despite these scant details, it appears Wells Fargo is looking to take on Chase and Capital One head-on in a highly competitive market. Chase offers its Ink business credit cards – including an unlimited cash back card, an up to 5% back card, and a versatile business travel card. For its part, Capital One issues a variety of small business credit cards under the Spark branding.

These products include basic options for fair credit scores, cash back and travel rewards cards, and premium pay-in-full (like a charge card) cards with unlimited rewards for the account, as well as complimentary employee cards for all.

Chase and Capital One account for a significant portion of the U.S. small business credit card market. Wells Fargo, on the other hand, it eager to push its way into a multi-billion-dollar-a-year industry. Wells Fargo has been without a business credit card products for some time, with the bank significantly reducing its existing portfolio as it continues to roll out new, dynamic offers to compete with other national issuers.

This process has already seen the launch of the Wells Fargo Active Cash, Autograph, and Reflect personal credit cards. The bank also has successful co-branded cards with Choice Hotels, Dillard’s, and Bilt Rewards – the latter being the only card of its type to earn rewards on rent payments. Adding new business options is another step in this process of revitalizing an aged credit card portfolio.

Related Article: Shopify Enters the Fintech Space with Card Launch

Featured image by Wells Fargo/BestCards

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About: Cory Santos
Cory Santos

Cory is the senior credit card editor at BestCards, specializing in everything credit card-related. He’s worked extensively with credit cards and other personal finance topics, including nearly five years at BestCards. Cory’s extensive knowledge is an essential part of the BestCards experience, helping readers to live their best financial lives with up-to-date insights and comprehensive coverage of all facets of the credit card space, including market trends, rewards guides, credit advice, and comprehensive credit card reviews.

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