Anyone have a Wells Fargo Rewards Card?

[queenofthehivemomof5]

We have a checking account with Wells Fargo and just noticed that they offer a rewards program that you can tie with your Visa Check Card where you earn points for purchases 1 point for every $4 using your check card or 1 point for every $1 using your Wells Fargo credit card (we don't have a Wells Fargo credit card). The annual fee is $12. Worth it or not?

I would need to make $48 in purchases using my WF card to make up the annual fee, which is not hard since I use my card all the time. Online bill pay counts too.

So what do you think?

[cmarfarr]

Maybe I'm not looking at the same thing as your are but this is the info that I found.From my understanding one point doesn't = $1. You earn points and then redeem them for gift cards, cash travel, etc. To get $5 you need 650 points.

https://www.wellsfargo.com/checkcard/rewards

[queenofthehivemomof5]

Your right, I was not thinking it out. But for every dollar you spend using your check card you earn 1 point, points add up and you can redeem them for gift cards. I guess what I was wondering was if the $12 annual fee is worth it or not. I do all of my banking using bill pay and 90% of all my spending is done through my check card, if I take out cash I end up spending it faster (thats just me, most experts say that folks spend more using their card vs cash)

[Kana16]

I've been wondering the same thing. My dad and I are with Wachovia, but we just got our new Wells Fargo debit cards, and I read online about the rewards program a while back... never signed up for it because I wasn't sure if it was worth it. I do remember seeing that only the purchases that you sign for count. No pin purchases.

[cmarfarr]

That's how I am also with cash especially dh. If he has cash he blows it, and I hate how I can't keep track of where it went. With using my bank card I know where the money went and I love how WF has a budget watch, so it's supper easy for me to keep track of the money. Plus dh feels guilty using the card for some reason, so he spends less and only uses when he really needs to.
Anyways, I was curious too about the reward program. I noticed it a while back but when I saw the $12 fee that turned me off since I hate paying fees. But now that you made me look into it, it may be worth it. I was thinking if I spend $650 a month = 650 points that's $5. So $5x12 months = $60 - $12 fee=$48. Hmm IDK ?!!

[queenofthehivemomof5]

Yeah I am still not sure if it worth paying the annual fee. I don't know if I will remember to sign for my purchases. However I do pay all my bills with bill pay and that adds up to $2000+ a month right there....

[Aurianne]

I don't understand the benefit of "paying" for a rewards card when there are so many available with no annual fee whatsoever. Why not just get an Amazon Visa which doesn't have any fee and use it to pay your monthly bills and purchases, then collect maximum rewards? They offer everything from money off your CC balance to Amazon gift certificates, gas cards, to airline CG's, so why pay a fee to Wells for a card?

[Jen1]

Normally I wouldn't get a card with an annual fee, but in the case that the fee would be absorbed (probably within the 1st week, not to mention year) then I wouldn't worry about it. I guess in the end it depends on how fast those gift cards are accumulated. Have you received any yet?

[couponsmakecents]

I had wachovia and then it went to Wells Fargo. I don't remember the $12 fee (horrors but oh well I still can't find it). I had $3859 points when I realized the rewards program. I cashed in for 3 $10 walgreens gift cards and used on Black Friday on all the RR deals. I did not sign up my purchases; I just make sure I run the card as credit not debit. I am already back to 378 points since 11/10/10 so for me it is worth it as I don't like to carry cash.