According to a Wells Fargo representative, the value of rewards points can fluctuate based upon what they’re being redeemed for. But for general purposes, Wells Fargo says one rewards point typically equals 1 cent, meaning every 1,000 points are worth $10. A $25 gift card, for example, would cost 2,500 points — but there is a 10% discount if redeemed online, so the actual cost would be 2,250 points.
With the cash back option, account holders will earn $0.015 per dollar spent. For $1,000 spent, that equals $15 in cash back. A business with the lowest possible credit limit of $500 can only earn $7.50 back per billing cycle, if they spend their full limit. A bigger business, with say a $10,000 credit, could earn $150, or $1,800 annually (assuming they spend their limit in full each month).
The Wells Fargo Business Secured credit card also comes with the option to add up to 10 employee cards for free. Utilizing this benefit can help companies rack up their cash back or points rewards faster.
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